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ABU DHABI / WAM  Two of the United Arab Emirates’ Comprehensive Economic Partnership Agreements (Cepa) will come into force on September 1, promising to deliver a new era of trade and investment cooperation with two rapidly emerging global economies. The UAE-Türkiye Cepa and the UAE-Indonesia Cepa will now remove or reduce tariffs on a vast array of goods, eliminate unnecessary ...

DUBAI / WAM  Emirates Global Aluminium (EGA) on Thursday reported competitive financial performance for the aluminium sector in the first half of 2023, announcing a net profit of AED2.0 billion ($533 million). EGA announced H1 2023 adjusted Ebitda of AED4.2 billion ($1.1 billion). EGA’s aluminium segment adjusted Ebitda margin was 27 percent, leading global industry peers. The company also reported ...

ABU DHABI / WAM The UAE, represented by the General Civil Aviation Authority (GCAA), signed an air services agreement in its initials with the Republic of Palau, at the authority’s headquarters in Dubai. The agreement was signed on behalf of the UAE by Saif Mohammed Al Suwaidi, Director-General of the GCAA, and on behalf of Palau by Gustav Aitaro, Minister ...

ABU DHABI / WAM  The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) has taken enforcement action against ADGM-registered audit firm, KPMG Lower Gulf Limited (KPMG). The RA imposed a financial penalty in the amount of $30,000 against KPMG for ineffective systems and controls leading to non-compliance with audit requirements under RA-administered legislation. ADGM audit regulatory framework requires audit ...

ABU DHABI / WAM Michael Bolliger, Chief Investment Officer, Emerging Markets at UBS Global Wealth Management, forecasts the UAE’s gross domestic product (GDP) to stand at 3.5 percent in 2023, rising to 3.9 percent in 2024. In a statement to the Emirates News Agency (WAM), Bolliger shared the bank’s positive outlook on the UAE’s medium-term growth prospects, supported by strong ...

SHARJAH / WAM HH Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and President of the University of Sharjah (UoS), met on Thursday, with Dr Hamid Majoul Al Nuaimi, the University’s Chancellor, Vice Chancellors, Deans of Colleges, Directors of Research Centres and Institutes, and heads of academic departments at the University. Welcoming the attendees from the ...

ABU DHABI / WAM Aldar Properties announced  the launch of Gardenia Bay, a residential community that connects residents with nature and brings urban tranquillity and waterfront living into Yas Island. Construction of the first phase of Gardenia Bay, a community which is located opposite Yas Park, will begin in Q1 2024, with handovers expected in Q2 2027. Twenty-hundred ten of ...

ABU DHABI / WAM Borouge Plc hosted a General Assembly meeting, where shareholders voted to approve an interim dividend of $650 million (AED2.38 billion) for the first half of 2023, equivalent to 7.9 fils per share. The interim dividend will be paid to shareholders who have purchased Borouge shares as of September 7. This represents the first part of the ...

ABU DHABI / WAM The Abu Dhabi Arabic Language Centre (ALC) has signed a letter of intent with the Moscow-based Institute of Oriental Studies (IOS) of the Russian Academy of Sciences to promote cultural cooperation between the Russian Federation and the Arab world, as well as enhance Arabic language studies. The letter was signed by Dr Ali bin Tamim, Chairman ...

DUBAI / WAM The Securities and Commodities Authority (SCA) has partnered with the National CSR Fund (Majra) to achieve corporate social responsibility, promote the UAE’s international position in this field, and direct the contributions of listed joint stock companies to social development projects. The gesture aims to help sustain the national economy and contribute to achieving the UAE’s sustainable development ...