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ABU DHABI / WAM Adnoc has returned to the Ras Al Sadr field to start gas production, 75 years after the first exploration well was drilled at the field. Back in the 1950s, as the Middle East’s oil industry was being established, Abu Dhabi’s first ever exploratory well was drilled in Ras Al Sadr. While the well was “dry” and ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, in the presence of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, met on Thursday with Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah, Prime Minister of the State of Kuwait, on the ...

ABU DHABI / WAM Miral, the leading creator of immersive destinations and experiences in Abu Dhabi, has announced a strategic partnership with Emirates NBD. As a part of the partnership, Emirates NBD will be the Official Banking Partner across multiple Miral attractions, including Ferrari World Yas Island, Abu Dhabi, Yas Waterworld Yas Island, Abu Dhabi, Warner Bros. World™ Yas Island, ...

TOKYO/ WAM Asian stock markets rallied on Thursday, buoyed by Wall Street’s surge to all-time peaks overnight after a milder US inflation report raised expectations the Federal Reserve will deliver two interest rate cuts this year, Reuters reported. The dollar remained on the back foot, sagging to fresh multi-week lows against peers including the euro and sterling. US Treasury yields ...

ABU DHABI / WAM Presight, a leading big data analytics company powered by generative artificial intelligence (AI), and Intel, a cloud computing, data centre, AI, and PC solutions company, have announced a strategic collaboration aimed at accelerating applied AI projects and developing cutting-edge AI solutions in the Middle East. Signifying a commitment to advancing AI research and development in the ...

ABU DHABI/ WAM Standard & Poor’s Credit Ratings Agency (S&P Global) said the profitability of GCC Banks will remain strong in 2024, and their asset quality will stay robust despite higher-for-longer rates, due to supportive economies, contained leverage, and a high level of precautionary reserves. In its related report, S&P stated that the US Federal Reserve Board (FRB) could begin ...

ABU DHABI/ WAM The Abu Dhabi Businesswomen Council (ADBWC) and Etihad Airways have signed a Memorandum of Understanding to support 25,000 women-owned small and medium-sized enterprises (SMEs) operating in the capital. Etihad will consider members of the organisation to be preferred suppliers when it comes to procurement and through its “Business Connect” programme will offer generous Etihad Guest Miles benefits ...

ABU DHABI/ WAM Emirates Global Aluminium (EGA), the largest industrial company in the UAE outside oil and gas, today announced the launch of one of the first digital manufacturing platforms in the region to unlock additional value through Industry 4.0 applications. EGA developed the digital manufacturing platform with Microsoft as part of a strategic collaboration to progress EGA’s Digital Roadmap. ...

SHARJAH/ WAM H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member, Ruler of Sharjah, and President of the University of Khorfakkan, praised what the university achieved during the academic year 2023/2024 and the ongoing development of the educational process in it in conjunction with the administrative systems in place and the implementation of the regulations approved by the ...

ABU DHABI/ WAM Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, along with Infinity Power, the largest African renewable energy developer, and Hassan Allam Utilities, a sustainable infrastructure focused development and investment platform, have today signed a Land Access Agreement with the Egyptian Government for the consortium’s 10GW capacity onshore wind farm in Egypt, set ...