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ABU DHABI / WAM Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has been appointed as a primary dealer for the Federal Treasury Sukuk Programme. This new programme has been launched by the federal government of the UAE, through the Ministry of Finance (MoF) and aims to issue Sukuk through Shariah-compliant structures as approved by the Higher Shari’ah ...

ABU DHABI / WAM Abu Dhabi Fund for Development (ADFD) has signed an agreement with the government of Mauritania to finance a project aimed at providing potable water to the city of Kiffa, which will be sourced from the Senegal River. The contribution from the ADFD towards this strategic project amounts to AED110 million ($30 million). The total value of ...

SHARJAH / WAM Air Arabia (PJSC), the Middle East & North Africa’s largest low-cost carrier, has reported a strong first quarter in both financial and operational terms, recording a net profit of AED342 million for the first three months ending on March 31, 2023, which represents a 17 percent increase compared to the AED291 million profit recorded in the same ...

ABU DHABI / WAM Etihad Airways is launching its seasonal services into the Portuguese capital of Lisbon on June 18 and is treating its guests with discounted fares. Guests can benefit from this offer to enjoy the old city known for its historical centre, stunning architecture, colourful azulejos, and fantastic food, with fares starting at AED2,995. Arik De, Chief Revenue ...

TEXAS / WAM The Hamriyah Free Zone Authority (HFZA) in Sharjah has wrapped up four days of fruitful participation in the Offshore Technology Conference (OTC 2023), which concluded in Houston, Texas, USA. The delegation, led by HFZA Director Saud Salim Al Mazrouei, has showcased the free zone’s unique investment opportunities in the oil and gas sector while fostering collaboration with ...

DUBAI / WAM More than 40,000 people — including 30,000 visitors — attended the 30th edition of Arabian Travel Market (ATM), which concluded last week in Dubai. This not only represents a year-on-year increase of 29% in attendees compared to 2022, it also represents a 5% increase over 2019, establishing a new record for the show, demonstrating that the Middle ...

ABU DHABI / WAM His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court, on Monday received Shaikh Abdullah bin Bayyah, Chairman of the UAE Fatwa Council and members of the council, at Qasr Al Watan. His Highness Sheikh Mansour was briefed about work and plans of the council that aim ...

SHARJAH / WAM HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, welcomed Dr Hayat Qatat Al-Qarmazi, the Minister of Cultural Affairs of Tunisia, to his palace on Monday. HH Sheikh Sultan emphasised the importance of cultural relations among different Arab countries, which contributes to the achievement of various educational and scientific projects, and ...

BLOOMBERG The Biden administration is preparing a $500 million weapons package for Taiwan, using a fast-track authority that it has relied on to speed arms to Ukraine. The package will involve sending existing stockpiles of US weapons or support equipment to Taiwan under what’s known as a Presidential Drawdown Authority. The equipment to be in the package wasn’t immediately known. ...

KERALA / WAM At least 21 people drowned after a boat capsized off the coastal town of Tanur in the Malappuram district of India’s southern state of Kerala, Reuters reported on Monday. The boat, which was carrying about 40 inbound passengers, overturned as it was overcrowded, said Abdul Nazar, Malappuram district’s junior superintendent of police. It was not immediately clear ...