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ABU DHABI / WAM Borouge Plc has reported a 16% year-on-year (YoY) increase in net profit for the third quarter (Q3) of 2024 to $328 million, beating market expectations, driven by the company’s highest ever quarterly sales and robust pricing for its premium products. The company responded to strong demand from customers in the world’s fastest growing economies for innovative, ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved Law No (23) of 2024 pertaining to the Government of Dubai’s General Budget Cycle for the fiscal years 2025-2027, and the Dubai Government’s general budget for the fiscal year 2025. The three-year budget cycle for ...

DUBAI/WAM Dubai Aerospace Enterprise (DAE) Ltd on Monday announced that it had recently signed an agreement to acquire 10 aircraft for an aggregate consideration of approximately $0.5 billion. The aircraft portfolio is comprised 100 percent of narrow-body, next-generation aircraft on lease to 4 airlines in 4 countries. In addition, DAE has initiated and managed the purchase and sale of equity ...

ABU DHABI/WAM The Anwar Gargash Diplomatic Academy (AGDA), the UAE’s leading diplomatic training centre, in partnership with the Emirates Centre for Strategic Studies and Research (ECSSR), has launched the UAE – Africa Dialogue. This initiative brings together experts, scholars, diplomats, legislators and policymakers to discuss avenues to enhance the relations between Sub-Saharan African countries and the Gulf region, with a ...

WASHINGTON / WAM Abu Dhabi Fund for Development (ADFD) and CAF – Development Bank of Latin America and the Caribbean—have signed a landmark agreement aimed at enhancing collaboration to promote sustainable economic growth and reduce inequalities in Latin America. The agreement establishes a framework for joint initiatives in project co-financing, investment, and information exchange on the sidelines of the annual ...

RAS AL KHAIMAH / WAM Commercial licences in the emirate of Ras Al Khaimah increased by 28.6 percent, and professional and industrial licences by 25 percent each in the first nine months of the year, according to the commercial performance report issued by the emirate’s Department of Economic Development. The report showed a significant growth of 27 percent in commercial ...

ABU DHABI / WAM Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, and EMSTEEL, the UAE’s largest publicly listed steel and building materials company, have announced the successful completion of a pilot project demonstrating the use of green hydrogen to produce green steel. The Abu Dhabi-based pilot project, the first-of-its-kind in the Middle East and ...

ABU DHABI / WAM His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, on Monday welcomed His Excellency Pham Minh Chinh, Prime Minister of the Socialist Republic of Vietnam, who is on an official visit to the UAE. An official reception was held for the visiting Prime Minister upon his ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Monday received Pham Minh Chinh, Prime Minister of Vietnam, at Zabeel Palace in Dubai. The Vietnamese Prime Minister is on an official visit to the UAE. His Highness Sheikh Mohammed bin Rashid welcomed the Vietnamese Prime ...

DUBAI / WAM Digital Dubai, represented by the Dubai Data and Statistics Establishment (DDSE), announced the launch of the Dubai Labor Force Survey 2024. The aim of this survey is to estimate the size of the labour force, identify indicators related to employment and unemployment, and provide up-to-date data and statistics on the demographic, social, and economic aspects of the ...