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The Swiss National Bank (SNB) reported a loss of 142.4 billion francs ($143 billion) for the first nine months as turmoil in global currency markets took a toll on the value of its foreign-exchange portfolio. The central bank’s foreign-currency positions resulted in a loss of 141 billion francs, and it also saw a valuation loss on its gold holdings and ...

European natural gas advanced again with traders focusing on weather forecasts, while outages at key facilities highlight the risk of potential winter shortages. Benchmark futures jumped as much as 10%, extending their rebound from losses earlier in the week, with temperatures dropping closer to seasonal levels after an unusually mild October. Some forecasts also point to colder-than-normal conditions in northwest ...

Adani Enterprises Ltd., the flagship firm for billionaire Gautam Adani’s conglomerate, posted an almost 117% rise in quarterly profit, giving it more firepower to boost investments in numerous new businesses it’s nurturing. The Ahmedabad-based company reported a net income of 4.6 billion rupees ($55.5 million) for the quarter ended Septmeber 30, it said in a filing on Thursday, compared to ...

Abu Dhabi / WAM   The United Arab Emirates has made significant improvements in developing and strengthening its occupational radiation protection infrastructure since the 2015’s Occupational Radiation Protection Appraisal Service (Orpas) visit to the UAE, according to the experts of the International Atomic Energy Agency (IAEA) who concluded a week-long follow-up review of the UAE’s radiation protection arrangements. At the UAE ...

Abu Dhabi / WAM   Mubadala Health, the integrated health network of Mubadala Investment Company, and Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, are exploring a potential joint venture to set up a long-term care and post-acute rehabilitation facility in Bahrain that will be operated by Amana Healthcare, a Mubadala Health Partner. The proposed ...

Abu Dhabi / WAM    Alpha Dhabi Holding PJSC (Alpha Dhabi) announced that it has acquired a 25 percent stake in Gordon Technologies, a leading provider of MWD (Measurement While Drilling) technology to the oil and gas industry for AED 602 million. Chimera Capital acted as sole financial advisor to Alpha Dhabi Holding on the transaction. Founded in 2014, Gordon Technologies ...

Abu Dhabi / WAM  President His Highness Sheikh Mohamed bin Zayed Al Nahyan, met virtually on Wednesday with United States President Joseph R. Biden Jr.  The two leaders reaffirmed the depth of the US-UAE strategic relationship and addressed global challenges including energy security. In the meeting, the two leaders highlighted the just announced comprehensive UAE-US initiative to accelerate the energy ...

Dubai / WAM DP World is expanding its operations in China by signing a memorandum of understanding (MoU) to support logistics and trade development at the Lin-Gang Special Area, a free trade zone in Shanghai. The MoU was signed on Wednesday with Shanghai Lin-Gang Economic Development Group (Lin-Gang Group) at a virtual ceremony by Lin-Gang Party Secretary and Member of ...

Abu Dhabi / WAM Cepsa, a Mubadala group company, and Etihad signed an MoU to accelerate the decarbonisation of air transport by researching and producing sustainable aviation fuels (SAF). Both companies prioritise the development of these sustainable fuels as a tool to further reduce the carbon footprint of air transport and contribute to the goals of the UN’s 2030 Agenda ...

Abu Dhabi / WAM The Ministry of Human Resources and Emiratisation (MoHRE) signed on Wednesday an agreement with a group of nine local insurance companies, to launch the framework of the new Unemployment Insurance Scheme, in line with the Federal Decree Law No. 13 of 2022 and the relevant Cabinet Resolutions. The new insurance scheme aims to provide protection for ...