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  DUBAI / WAM Salik Company on Friday announced that it has increased the number of shares offered in Salik’s Initial Public Offering (IPO) from 1,500,000,000 ordinary shares to 1,867,500,000 ordinary shares, which would result in an increase in the Offer Size from 20.0% to 24.9% of Salik’s share capital, with the Government of Dubai continuing to own 75.1% of ...

  ABU DHABI / WAM UAE twin bourses hit a three-week high, as Abu Dhabi’s FTSE ADX General picked up 0.50 percent to close at 10,019.200 pts, and heavyweight real estate shares led wider gains in Dubai equities pushing DFMGI 0.925% higher to 3,462.780 pts. In the capital, 18,017 trades were conducted with a share turnover of AED2,153,686,949 over 584,030,635 ...

  DUBAI / WAM Salik Company announced that it has increased the number of shares offered in Salik’s Initial Public Offering (IPO) from 1,500,000,000 ordinary shares to 1,867,500,000 ordinary shares, which would result in an increase in the Offer Size from 20.0% to 24.9% of Salik’s share capital, with the Government of Dubai continuing to own 75.1% of Salik’s existing ...

  ABU DHABI / WAM The General Pension and Social Security Authority (GPSSA) organised a media forum for local radio and television broadcasters from across the UAE at the Mandarin Oriental Hotel in Dubai. The meeting, which was held under the slogan “Partners in Responsibility”, was organised to enhance understanding and coordination with members of the media, who play a ...

  SHARJAH / WAM Sharjah Airport has received recognition under ACI’s Airports Customer Experience Accreditation Programme, securing its leading position among eight top airports in the Middle East that possess this accreditation. Ali Salim Al Midfa, Chairman of the Sharjah International Airport Authority, received the award during the Customer Experience Global Summit, which was sponsored by the Airports Council International ...

  DUBAI / WAM Dubai Electricity and Water Authority (Dewa) recorded a growth in the number of smart water meters by 73.6% between 2018 and 2022. The number of smart metres increased from 566,214 metres in August 2018 to 983,185 metres in August 2022. Dewa has a secure and automated infrastructure to manage metre data. Automating metre readings helps customers ...

  DUBAI / WAM The Ministry of Community Development (MoCD) participated in the first Gulf Family Forum titled “Family Future Opportunities and Challenges in the Gulf”, organised by the Secretariat-General of the Gulf Cooperation Council and Family Affairs Council in Riyadh, Saudi Arabia, coinciding with the “Gulf Family Day” which is held annually on September 14. During the forum, the ...

Bloomberg Germany is taking control of Russian oil major Rosneft PJSC’s German unit, including stakes in three oil refineries, as Chancellor Olaf Scholz reacts to the unprecedented energy crisis sparked by the invasion of Ukraine. Grid regulator BNetzA will become trustee of RN Refining & Marketing GmbH and Rosneft Deutschland GmbH, which account for around 12% of Germany’s oil processing ...

  Bloomberg Eskom Holdings SOC Ltd, South Africa’s state power utility, favors burning more domestically sourced gas as it transitions away from coal, its CEO Andre de Ruyter said. With the structure of the nation’s demand changing and more renewable technology being added to the grid, additional storage in the form of batteries will be needed along with power that can ...

  Bloomberg Natural gas prices fell as the European Union started outlining details of its intervention into an unprecedented energy crisis, including a proposal for targets to reduce electricity demand. Power prices also slumped. Benchmark gas futures declined as much as 9.3% to the lowest in a month. Still, prices remain almost eight times higher than normal for the time ...