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SHARJAH / WAM United Arab Bank (UAB) has reported its financial results for the first quarter ending on March 31, with a net profit of AED 54.8 million, up 80 percent from AED 30.4 million in Q1 2022. The increase in net profit is attributed to improved Net interest income and lower provision charges. The bank’s total operating income grew ...

BRUSSELS / WAM The European Parliament approved the deals reached with EU countries in late 2022 on several key pieces of legislation that are part of the “Fit for 55 in 2030 package” — the EU’s plan to reduce greenhouse gas (GHG) emissions by at least 55% by 2030 compared to 1990 levels in line with European Climate Law. The ...

ABU DHABI / WAM In line with UAE Net Zero 2050 and the UAE’s direction towards sustainable economic development and industrial decarbonisation, the Ministry of the Industry and Advanced Technology (MoIAT) is hosting high potential technology start-ups with a focus on sustainability and decarbonisation to participate in a start-up competition launched ahead of COP28. The ministry created the Make it ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan on Tuesday received His Majesty King Abdullah II bin Al Hussein of Jordan, who is visiting the UAE accompanied by His Royal Highness Prince Hussein bin Abdullah II, the Crown Prince of Jordan. His Highness Sheikh Mohamed welcomed the Jordanian King and the Crown Prince at Al ...

ABU DHABI / WAM Abu Dhabi National Energy Company (Taqa) announced on Tuesday the successful placement of an aggregate of $1.5 billion in 5-year and 10-year dual-tranche senior unsecured notes. The 10-year notes, sized at $1 billion and maturing on April 24, 2033, were issued at a coupon rate of 4.696%. These notes represent Taqa’s first green bond issuance and ...

ABU DHABI / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President Emmerson Mnangagwa of Zimbabwe, on the occasion of his country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mansour bin Zayed ...

DUBAI / WAM In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, issued Law No. (10) of 2023 amending certain articles of Law No. (4) of 2020 that regulate the use of drones in Dubai, with the aim of enhancing safety standards. The new law amends article Nos. ...

ABU DHABI / WAM Khalifa Economic Zones Abu Dhabi — Kezad Group and Emtelle on Tuesday announced the ground-breaking of one of their world’s largest facilities for the manufacture, distribution, and research and development of blown fibre units and ducted network solutions in Abu Dhabi. The ground-breaking represents the beginning of phase 1 of the three phases of development of ...

SHARJAH / WAM The Sharjah Real Estate Registration Department (SRERD) has reported that the emirate’s real estate sector has performed exceptionally well during the first quarter of 2023. According to the SRERD’s quarterly performance report, the total number of real estate transactions reached 21,486, with a total value of AED 5.9 billion. The report also revealed that real estate mortgages ...

DUBAI / WAM Emirates Health Services (EHS) has signed a Memorandum of Understanding with the Mohammed bin Zayed University of Artificial Intelligence (MBZUAI), with the aim of strengthening areas of cooperation and knowledge sharing in line the common goals and strategies of developing human capital and promoting skills and advancing efforts in the fields of scientific research and innovation. The ...