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ABU DHABI / WAM Emirates Stallions Group (ESG), a subsidiary of International Holding Company (IHC), on Thursday announced the acquisition of a 60% stake in Afkar Financial Property Investments, an Abu Dhabi-based company with diversified interests across the UAE. This significant move marks ESG’s robust expansion in the real estate and retail sector, further solidifying its position as a leading ...

RAFAH / WAM As part of the ‘Gallant Knight 3’ humanitarian operation, the United Arab Emirates commenced delivering drinking water produced by the Emirati-built desalination plants in Refah, Egypt, to the shelters within the Gaza Strip. The residents of the Gaza Strip, who are benefiting from this noble initiative, have expressed their gratitude for the UAE’s effort, which alleviates their ...

ABU DHABI / WAM The United Arab Emirates and the Republic of Congo-Brazzaville have concluded the terms of a Comprehensive Economic Partnership Agreement (Cepa), a deal that will facilitate greater trade and investment flows as the two nations pursue deeper economic ties. The conclusion of negotiations was confirmed by the signing of a joint statement by Dr Thani bin Ahmed ...

SHARJAH / WAM HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, issued an Emiri Decree concerning the restructuring of the Nama Women Advancement Establishment (NAMA). According to the Decree, HH Sheikha Jawaher bint Mohammed bin Sultan Al Qasimi will chair the foundation. The foundation enjoys a legal personality and full capacity to undertake ...

RAS AL KHAIMAH/WAM H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, attended part of the 13th edition of His Highness Sheikh Mohamed bin Zayed Al Nahyan Festival for Purebred Arabian Camel Racing (Al Sawan – 2023-2024), held under the patronage of President His Highness Sheikh Mohamed bin Zayed Al Nahyan. Sheikh Saud, ...

BLOOMBERG A wind farm and transmission line billed as the largest clean energy project in US history has secured $11 billion in financing and started construction. Pattern Energy Group LP said Wednesday it closed on financing that includes about $8.8 billion in construction and term facilities and $2.25 billion in tax equity for the 3.5 gigawatt SunZia wind farm in ...

BLOOMBERG Nigeria-based Riverside LNG said it’s in talks to supply gas to South Africa, in what would be the first such deal between the two countries. The company earlier this year signed a gas-export partnership agreement with Johannes Schuetze Energy Import AG of Germany and is now looking for deals on the continent, Chief Executive Officer David Ige said in ...

BLOOMBERG Pipeline operator Williams Cos agreed to buy natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 billion in a bet on demand growth for the fuel in the US and in overseas markets. The deal includes six underground storage facilities in Louisiana and Mississippi, Williams said in a statement. The company will also get 230 ...

BLOOMBERG More than a decade after regulators vowed to tame the risks of too-big-to-fail banks, White House officials were on a call. Why, one attendee asked, was JPMorgan Chase & Co allowed to buy First Republic Bank that morning in a government-led auction? The answer came, flatly, from Treasury Secretary Janet Yellen: They had the highest bid. After a year ...

BLOOMBERG Samsung Electronics Co has delayed mass production plans at its new chip plant in Taylor, Texas, the Seoul Economic Daily said, potentially dealing another blow to the Biden administration’s ambition to increase domestic semiconductor supplies. Mass production at the upcoming $17 billion fab would begin in 2025, the newspaper reported, citing a speech by President Choi Siyoung of Samsung’s ...