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  Abu Dhabi / WAM Adnoc Distribution reported strong first half results for 2022, recording an Ebitda of AED1.99 billion and net profits of AED1.56 billion. Adnoc Distribution witnessed year-on-year growth in total fuel volumes, up 9% in H1 2022 compared to H1 2021, while the company’s corporate fuel volumes recorded sustained growth with a 27% year-on-year increase, underpinned by ...

  Abu Dhabi / WAM The Ministry of Foreign Affairs and International Corporation (MoFAIC) and Etihad Credit Insurance (ECI), the UAE’s federal export credit company, signed a memorandum of understanding (MoU) to promote increased global trade and investment. Both entities agreed to work together to position the UAE as an ideal destination for trade and investment, highlighting its stable and ...

  DUBAI / WAM The Dubai International Financial Centre (DIFC) announced the launch of the first Global Family Business and Private Wealth Centre (Centre) in the region and worldwide. DIFC is the first financial centre in the world to create a unique offering at a time when an estimated AED3.67 trillion ($1 trillion) in assets will be transferred to the ...

  Bloomberg Shipping in the Taiwan Strait began to return to normal on Monday, though China’s announcement of a new military exercise near the island signaled that risks remain for the industry. More than 40 vessels have transited through a China military drill zone south of Taiwan’s main port since Saturday, according to ship-tracking data compiled by Bloomberg. The latest ...

  Abu Dhabi / WAM Emirates Development Bank (EDB) held its board meeting to review results of the first half of 2022 and monitor the progress of its new strategy which was launched in April 2021 to support the UAE’s industrial development, accelerate the adoption of advanced technologies, and empower the growth of SMEs. The board meeting was held for ...

  Sharjah / WAM HH Sheikha Jawaher bint Mohammed Al Qasimi, wife of the Ruler of Sharjah, and Chairperson of the Supreme Council for Family Affairs (SCFA), has issued a directive to establish a higher committee to steer “Kanaf”, a first-of-its-kind interdisciplinary, multi-agency child protection centre that provides prompt legal, psychological, and social support to child victims of abuse. The ...

  Dubai / WAM Dubai Chamber of Digital Economy, one of three chambers operating under the umbrella of Dubai Chambers, has announced the formation of the Dubai Digital Assets Business Group (D2A2), which aims to strengthen the digital asset industry’s role in the economic development of the UAE and the wider Middle East region, enhance digital business infrastructure and support ...

  Dubai / WAM Dubai’s Roads and Transport Authority (RTA) has announced that the Sheikh Rashid bin Saeed Corridor Improvement Project is now 75 percent complete. The project extends 8 kilometres (km) along Ras Al Khor Road from the intersection of Dubai – Al Ain Road to the intersection of Sheikh Mohammed bin Zayed Road. Works include constructing bridges extending ...

Bloomberg Taiwan reiterated it won’t succumb to pressure from China after days of military drills in the air and seas surrounding the island, with hostilities set to continue even as world leaders urge an end to the strife. The People’s Liberation Army said it conducted exercises around Taiwan on Sunday, with drills focused on testing the capabilities of joint firepower ...

Bloomberg Ukrainian officials said Russian forces shelled the area around Europe’s largest nuclear plant for a second day, hours after the head of the UN’s atomic safety agency warned of “potentially catastrophic consequences.” Russian shells landed near spent nuclear fuel stored at the Zaporizhzhia atomic power plant on Saturday evening, wounding one worker, according to Energoatom, the facility’s operator. “This ...