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ABU DHABI/ WAM Abu Dhabi Islamic Bank (ADIB) reported a growth in Net Profit after tax of 32 percent for Q1 2024 to AED1.45 billion from AED1.1 billion in Q1 2023, reflecting a consistent trend of strong growth. The net profit before tax was AED1.64 billion, up 41 percent versus Q1 2023. The revenue for Q1 2024 improved by 24 ...

ABU DHABI/WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan today received a phone call from His Excellency Pedro Sanchez, Prime Minister of the Kingdom of Spain, during which they discussed bilateral relations and ways to develop cooperation between the UAE and Spain in various fields in order to achieve their mutual interests. The call touched upon regional and ...

ABU DHABI / WAM ADQ, an Abu Dhabi-based investment and holding company, and Plenary Group (Plenary), an independent investor, developer and manager of public-private infrastructure projects headquartered in Australia, announced a partnership aimed at expediting the expansion of public and social infrastructure through strategic investments. ADQ will acquire a 49 percent stake in Plenary, including all shares currently owned by ...

ABU DHABI / WAM The Ministry of Economy (MoEc) organised a forum titled “National Forum for SMEs – Government Procurement” to help Emirati entrepreneurs maximise their benefit from tenders and contracts offered by federal entities and local companies. The forum was held with an aim to enhance their chances of winning these contracts, raise awareness on the importance of government ...

QUITO / WAM Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Sonsoles Garcia, Minister of Production, Foreign Trade, Investments and Fisheries of Ecuador, signed a joint statement in Quito announcing the intention to begin negotiations towards a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Ecuador, as part of the UAE delegation’s visit to ...

WORLD CAPITALS/ WAM Gold prices crept higher on Wednesday but were stuck in a narrow range as investors looked to US economic data for further clarity on the Federal Reserve’s interest rate path, Reuters reported. Spot gold rose 0.2% to $2,327.86 per ounce by 0429 GMT, after having hit its lowest since April 5 in the previous session. US gold ...

ABU DHABI / WAM Astana International Exchange (AIX) has officially joined the Tabadul Digital Exchange Hub established by the Abu Dhabi Securities Exchange (ADX), allowing for bilateral cross-exchange trading between the two entities. This collaboration enhances liquidity and streamlines trading mechanisms for investors by making AIX and ADX-listed securities available for cross-trading. Tabadul facilitates remote access for brokerage firms affiliated ...

ABU DHABI / WAM The Anwar Gargash Diplomatic Academy (AGDA) has signed a memorandum of understanding (MoU) with the Abu Dhabi Music and Arts Foundation (ADMAF), to introduce collaborative initiatives aimed at boosting the UAE’s position on the global cultural and creativity map. The MoU was signed by Nickolay Mladenov, AGDA’s Director General, and Huda Alkhamis Kanoo, Founder of ADMAF, ...

ABU DHABI / WAM Sanad, wholly owned by Mubadala Investment Company, has announced strengthening its partnership with Khalifa University of Science and Technology to nurture local talent and foster knowledge exchange. The collaboration between Sanad and Khalifa University establishes three core pillars for students’ training and development which include offering local and international training opportunities for students during holidays, supported ...

MOSCOW / WAM Chancellor Dr Hamad Saif Al Shamsi, UAE Attorney-General, stressed that his official visit to the Prosecutor General’s Office of the Russian Federation facilitated detailed consultations, enabling both sides to review best practices in public prosecution and the latest legislative developments. Dr Al Shamsi commended the outcomes of the visit, hailing it as an opportunity to strengthen cooperation. ...