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VIENNA / WAM The Opec Fund for International Development (Opec Fund) has entered into two separate loan agreements worth $20 million each with Acwa Power. The funds will be used to support the construction and operation of two wind power plants — the 500 MW Dzhankeldy wind farm and the 500 MW Bash wind power plant, located in the Bukhara ...

NEW DELHI / WAM The Asian Development Bank (ADB) has projected growth in India’s gross domestic product (GDP) to moderate to 6.4% in fiscal year (FY) 2023 ending on March 31, 2024 and rise to 6.7% in FY2024, driven by private consumption and private investment on the back of government policies to improve transport infrastructure, logistics, and the business ecosystem. ...

ABU DHABI / WAM Abu Dhabi University (ADU) and Sky News Arabia Academy (Snaa) signed a cooperative memorandum of understanding (MoU) to offer the College of Arts and Sciences students comprehensive knowledge, understanding, and skills to excel in the field of mass communication. The main aim of the MoU is to train future media professionals in the fields of TV, ...

DUBAI / WAM Dubai International Financial Centre (DIFC) has welcomed several prominent wealth and asset management (WAM) firms, bringing the total number of WAM companies in the centre to over 300. This milestone reinforces DIFC’s position as the leading financial centre for WAM companies in the Measa region. With an industry size of $450 billion, DIFC’s 300 WAM firms represent ...

ABU DHABI / WAM Mubadala Health and Emirates Medical Association (EMA), a non-profit organisation represents physicians and allied health professionals in the UAE, signed a memorandum of understanding (MoU) to collaborate and advance medical education and research opportunities in the UAE. The MoU signing is a significant milestone for both entities and contributes to the strengthening of the Abu Dhabi ...

DUBAI / WAM The Ministry of Climate Change and Environment has signed a memorandum of understanding (MoU) with Essa Al Ghurair Investment LLC, as part of a collaboration on the ministry’s National Carbon Sequestration Project. Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, and Essa Abdullah Al Ghurair, Chairman of the Board of Directors of Essa Al ...

ABU DHABI / GULF TIME Bloom Holding, one of the UAE’s foremost real estate development companies, has announced the appointment of Edrafor Emirates LLC as the enabling works contractor for Toledo, phase two of the fully integrated and all-inclusive residential community, Bloom Living. Toledo comprises 405 units ranging from two-and three-bedroom townhouses with sizes starting from 120 sqm to 171 ...

ATHENS / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met with Kyriakos Mitsotakis, Prime Minister of the Hellenic Republic, in the Greek capital, Athens. The UAE top diplomat conveyed the greetings of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and his wishes for progress and prosperity to the Hellenic Republic ...

ABU DHABI / WAM Edge will participate for the first time at Laad Defence & Security 2023 (LAAD) in Rio de Janeiro, Brazil, from April 11-14. The biennial event is Latin America’s largest and most important defence and security trade show. The group will showcase its diverse product portfolio, focussing on autonomous systems, smart weapons, and electronic warfare. In addition, ...

VIENNA / WAM The 48th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Monday. The committee reviewed the crude oil production data for the months of January and February 2023 and noted the overall conformity for participating Opec and non-Opec countries of the Declaration of Cooperation (DoC). The members of the JMMC reaffirmed their commitment ...