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Abu Dhabi / WAM Abu Dhabi National Insurance Company (Adnic) on Tuesday reported its financial results for the nine-month period ended September 30. The company’s net profit increased by 18 percent to AED333.7 million, compared to a net profit of AED282.8 million for the same period in 2020. Adnic’s gross written premium increased by 2.4 percent to AED3.24 billion compared ...

Bloomberg Britain must work with other countries to prevent friction on medicine rules post-Brexit to avoid being sidelined by the global drug industry, according to a report from the UK’s biggest pharmaceutical lobby group. The country must collaborate with ‘science allies’ such as the US, Canada and Australia in developing its post-Brexit medicines regulation or risk being left behind, the ...

Bloomberg The Biden administration looks to launch a global infrastructure financing program, intended to counter China’s Belt and Road initiative, with between five and 10 flagship projects announced as soon as January, a senior US official said. The “Build Back Better World” program will look to counter Chinese influence by offering funding for projects with higher labour standards, a focus ...

Bloomberg The US’s decision to remove tariffs on steel and aluminum from the European Union (EU) in a weekend deal with the bloc will help slow inflation for American consumers, Commerce Secretary Gina Raimondo said. Prices paid by US shoppers rise 5.4% in September, matching the fastest pace of increase since 2008. Unprecedented shipping challenges due in part to the Covid-19 ...

GLASGOW / WAM The UAE and Pakistan signed a memorandum of understanding (MoU) to enhance cooperation in the fields of climate change mitigation and adaptation and environmental protection in line with the national legislations of the two countries. Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, and Malik Amin Aslam, Minister for Climate Change and Special Assistant ...

Abu Dhabi / WAM Fertiglobe on Monday reported that its Q3 2021 revenues increased 175 percent to $867 million and adjusted EBITDA increased 257 percent to $371 million in Q3 2021 as compared to Q3 2020. Thanks to strong earnings momentum, Fertiglobe — a strategic partnership between ADNOC and OCI headquartered in Abu Dhabi, announced that it has increased its ...

Abu Dhabi / WAM Micco Logistics, a subsidiary of AD Ports Group, acquired 31 tipper trucks as part of its effort to offer broader integrated logistics support to the UAE’s construction and metals manufacturing sectors. The trucks will join Micco’s existing ground fleet of 400 plus vehicles that currently service several industry sectors, including the Pharmaceutical, Healthcare, Fresh and General ...

Bloomberg French energy giant Engie SA entered exclusive talks to sell its services unit Equans to conglomerate Bouygues SA for 7.1 billion euros ($8.2 billion) in what would be one of the country’s largest deals this year. “Bouygues’ offer was the most compelling taking into account all criteria including financial valuation,” Engie, based near Paris, said in a statement. Bouygues ...

Bloomberg UK Prime Minister Boris Johnson is battling a mounting backlash over his attempt to protect a Conservative lawmaker found to have broken lobbying rules, with Parliament set to hold an emergency debate. Johnson was forced to perform a U-turn following widespread condemnation — including from fellow Tories — of his decision to try to tear up Parliament rules rather ...

Abu Dhabi / WAM The Abu Dhabi Agriculture and Food Safety Authority (Adafsa) announced the implementation of a comprehensive agricultural development plan aimed at increasing the efficiency of sustainable agricultural production in Abu Dhabi. The plan adopts the principle of regional planning of the emirate’s farms, so that the similar areas are identified in terms of development and resources, and ...