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DUBAI/WAM Dubai Aerospace Enterprise (DAE) reported its financial results for the nine months ending on  September 30 2024, logging US$310.8 million in net profit, a year-on-year (YoY) increase of $110.2 million or 54.9 percent. Meanwhile, profit before tax settled at $326.6 million for the same period, compared to $207.5 million last year. Total revenue was $1.017 billion for the nine ...

ABU DHABI/WAM Net foreign and institutional investments in equities reached AED25.6 billion during the first ten months of 2024, distributed by AED23 billion in the Abu Dhabi market and AED2.6 billion in the Dubai market. Based on official data from the Abu Dhabi and Dubai markets, foreign investors (Arabs and non-Arabs) were net buyers in the two markets worth AED22.1 ...

ABU DHABI/WAM NMDC Energy PJSC (ADX: NMDCENR), a provider of engineering, procurement and construction services for offshore and onshore energy clients and a majority-owned subsidiary of NMDC Group PJSC (ADX: NMDC), has joined a group of 15 listed entities, known as the FADXI15, forming a Shari’ah-compliant index for global Islamic investors. This new index was launched by FTSE Russell, an ...

SINGAPORE/WAM H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has visited AI Singapore, a programme aimed at advancing and strengthening Singapore’s AI capabilities. During the visit, His Highness met with the executive management of AI Singapore and was briefed on its efforts and initiatives to support research institutions, startups and specialised organisations in developing ...

SINGAPORE/WAM H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has attended a networking event with members of the UAE-Singapore Business Council, during his official visit to the Republic of Singapore. The event highlighted the investment opportunities offered by Abu Dhabi and the UAE’s business-friendly environment to further strengthen economic and trade ties between the ...

ABU DHABI/WAM AD Ports Group has signed a memorandum of understanding with the General Department of Vietnam Customs (GDVC) to explore developing digital trade solutions for the country’s customs department. Under the MoU, AD Ports Group and GDVC will assess a range of possibilities to cooperate on a Single Window trade solution, customs and border solution, a trade management and ...

FUJAIRAH/WAM The Ministry of Climate Change and Environment (MOCCAE), in collaboration with the UAE Ministry of Education, Emirates Nature-WWF, and the Fujairah Environment Authority, organised an event where female students participated in the planting of several native tree species in the Wadi Wurayah National Park in Fujairah. The event is aligned with the ‘Plant the Emirates’ National Programme, which aims ...

DUBAI/WAM In line with the campaign launched by UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan to support the Lebanese people, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, directed the launch of dedicated programmes ensuring continuity of education in Lebanon via the Digital School, operating under Mohammed bin Rashid ...

DUBAI/WAM S&P Global Ratings expects strong growth in the UAE’s Islamic finance sector to continue over the coming period, supported by the strong performance of the non-oil economy. According to the agency, the UAE has seen significant growth in Sukuk in foreign currency issuance since the beginning of the year, with issuance activity in the real estate and financial institutions ...

ABU DHABI/WAM ADNOC Drilling Company on Wednesday announced record financial results for the third quarter and first nine months of 2024. The company’s third-quarter revenue increased significantly to $1.026 billion, rising by 32% year-on-year. The company said that the remarkable growth has been fueled by the expansion of onshore and offshore fleets and the continued growth of the oilfield services ...