May, 2023

• 9 May

  CBI net profit increases 65% to AED34mn in Q1

  

  DUBAI / WAM The Commercial Bank International (CBI) has released its financial results for the first quarter of 2023 in Dubai. The financial highlights include a 65% year-on-year increase in net profit from AED20.6 million in Q1 2022 to AED34 million in Q1 2023, a 33% year-on-year increase in net operating income from AED111 million in Q1 2022 to AED148 ...

  Read More »
• 9 May

  Khaled bin Mohamed bin Zayed attends World Utilities Congress

  

  ABU DHABI / WAM His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has attended the second edition of the World Utilities Congress. Held under His Highness’ patronage, the global networking and knowledge exchange platform is hosted by Taqa and held at Abu Dhabi National Exhibition ...

  Read More »
• 9 May

  Deal signed to drive funding for AI startups, research in UAE

  

  ABU DHABI / WAM Abu Dhabi’s Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) and OurCrowd Arabia, the Abu Dhabi based subsidiary of Israel’s OurCrowd, announced the signing of a memorandum of understanding (MoU) to jointly create and manage several initiatives aiming to accelerate and catalyse the growth of the AI technology ecosystem on the university’s campus in Masdar City, ...

  Read More »
• 9 May

  Mensha Ventures, China to invest $1bn in green energy projects

  

  ABU DHABI / WAM Mensha Ventures signed a memorandum of understanding with its strategic partners from China, including the Asia Development and Investment Bank (ADIB), Hoover Investment Group, and Shenzhen Sinomaster Investment Group (SMT), to jointly invest $1 billion in green energy infrastructure projects in the region. The MoU was signed on the sidelines of the Annual Investment Meeting which ...

  Read More »
• 9 May

  Charitable institutions lauded for supporting student education at ZU

  

  Zayed University (ZU) held a special appreciation ceremony to recognise charitable institutions and organisations for their contributions to higher education. Donors were recognised for their ongoing support of students’ educational needs. Among the initiatives supported in the 2022/2023 academic year were monthly stipends for 346 students to cover transportation costs, food, and other necessities, as well as providing 76 students ...

  Read More »
• 9 May

  Sheikh Sultan chairs Sharjah Academy for Maritime Transport’s BoT meeting

  

  SHARJAH / WAM  His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member, Ruler of Sharjah and Chairman of the Board of Trustees (BoT) of the Sharjah Academy for Maritime Transport, chaired on Tuesday the first meeting of the academy’s Board of Trustees in his office at the academy in Khorfakkan. During the meeting, HH welcomed the members ...

  Read More »
• 9 May

  EAD completes measurements of City Biodiversity Index

  

  ABU DHABI / WAM The Environment Agency – Abu Dhabi (EAD) has completed the measurement process for the City Biodiversity Index in Abu Dhabi City, as part of efforts to measure its success in preserving biodiversity. The index, also known as the Singapore Cities Biodiversity Index, aims to help cities achieve sustainable development, with biodiversity and people growing and thriving ...

  Read More »
• 9 May

  Stocks fall on weak China data

  

  BLOOMBERG Markets fell broadly after Swedish landlord SBB halted dividends and economic data from China was weaker than expected. European stocks and US futures traded lower, along with oil. SBB shares lost 5.5%, adding to a 20% plunge on May 8, with investors increasingly worried about the effects of a funding squeeze across the real estate industry. Sentiment was also ...

  Read More »
• 9 May

  After $1.8 billion of outflows, Thailand is set for election boost

  

  BLOOMBERG Thai investors are pinning their hopes on the general election to revive stocks in Asia’s worst-performing market this year, as parties across the spectrum promise tens of billions of dollars in economic stimulus. The benchmark SET Index has slumped 6.4% in 2023, defying expectations that it will repeat a rally seen in the run-up to prior elections. Instead, foreign ...

  Read More »
• 9 May

  Etihad Cargo partners with Rotate

  

  ABU DHABI / WAM Etihad Cargo, the cargo and logistics arm of Etihad Airways, has partnered with Rotate to co-develop a sales optimisation tool that will identify sales initiatives to enable the carrier’s global commercial teams and sales representatives to add value to customer relationships. The first-of-its-kind tool—Sales Cockpit— will analyse data and, using sophisticated custom-built algorithms, will automatically generate ...

  Read More »