The firm's net profit soared to US$27.14mn in Q1 of 2023.

Abu Dhabi, UAE -- ADNOC has announced its intention to float a 15 percent minority stake in ADNOC Logistics & Services  on the Abu Dhabi Securities Exchange (ADX).The offering is expected to open on May 16, 2023, subject to regulatory approvals and other relevant considerations.ADNOC L&S is a logistics services...

Abu Dhabi, UAE -  The UAE is growing the number of Electric Vehicle (EV) charging stations from 500 to 800 in the next few years. This was stated by the country’s Minister of Energy and Infrastructure, Suhail bin Mohammed Al Mazrouei,  on the sidelines of the ongoing World Utilities Conference 2023....

The company posted Q1 revenue of US$299 million.

The company posted Q1 revenue of US$694 million.

Abu Dhabi, UAE-- Designed to achieve a common Arab vision for the digital economy, the Arab Federation for Digital Economy and the Union of Arab Chambers signed a cooperation agreement at the Entrepreneurs Investment Summit, held in parallel with the Annual Investment Meeting 2023 (AIM) in Abu Dhabi.The agreement stresses...

ABU DHABI, UAE - The Statistics Center - Abu Dhabi (SCAD) has released the Gross Domestic Product (GDP) estimates report for 2022, unveiling a remarkable 9.3 percent  growth by the end of the year, compared to 2021.The new figures position the Emirate as the fastest-growing economy in the Middle East...

ABU DHABI, UAE -  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...

ABU DHABI,  UAE - Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has been appointed as a primary dealer for UAE's Federal Treasury Sukuk Program.This new program has been launched by the federal government of the UAE, through the Ministry of Finance (MOF) and aims to issue Sukuk...

ABU DHABI, UAE  - The UAE has evacuated 176 people from seven countries, including media professionals, from Sudan on Saturday and brought them here by plane, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) said.The UAE continues the process of prioritizing the evacuation of the most vulnerable groups, including...

Revenues also grew significantly to reach $3.26 bn.

“The United States is a long-standing trade and investment partner for the UAE – and an important ally in the battle to develop alternative sources of energy,” said Al Zeyoudi, UAE's Minister of State for Foreign Trade.

Abu Dhabi, UAE— AD Ports Group will add drydock services to its portfolio at Khalifa Port in an expansion of its range of port and marine logistics services.With this expansion, from container and cargo handling to vessel repairs and maintenance, Khalifa Port aims to better serve existing clients and attract...

Abu Dhabi, UAE--The property market in Abu Dhabi has recorded 5,472 property sales and mortgages valued at US$7.62 billion in the first quarter of 2023 as against 3,304 transactions worth $ 3.07 billion during the same period in 2022, according to official data released by the Department of Municipalities and...

Abu Dhabi, UAE--Looking to boost tourism and cultural exchange between the two countries, the Department of Culture and Tourism Abu Dhabi (DCT Abu Dhabi) and the Jordan Tourism Board have signed a Memorandum of Understanding (MoU) on the sidelines of the Arabian Travel Market 2023.The MoU will unlock the tourism...

The company's expansion plans include the acquisition of Al Fahid Island.

Abu Dhabi, UAE - Passenger traffic through the UAE's airports during the first quarter of 2023 increased by 56.3 percent compared to the same period in 2022, according to Saif Mohammed Al Suwaidi, Director-General of the General Civil Aviation Authority (GCAA).Approximately 31.86 million passengers passed through the UAE's airports during...

Abu Dhabi, UAE - Abu Dhabi has been named the smartest city in the Middle East and North Africa (MENA) region for the third consecutive year, according to the IMD Smart City Index. The study surveyed 120 residents in each of the 118 cities worldwide and evaluated infrastructure and digital services...

The share buyback is expected to enhance shareholder value.

Abu Dhabi, UAE - Etihad Cargo added a fourth gateway destination to its Chinese network with the introduction of weekly flights to Wuhan Tianhe International Airport in the Hubei province of China.The inaugural flight arrived in the Hubei Province on 29th April.The airline currently offers five passenger flights to Shanghai,...

ABU DHABI, UAE -  AD Ports Group has announced plans to expand its fleet by purchasing five bulk carriers and three crude oil tankers.These vessel acquisitions will follow the recently signed agreements as part of the Group’s strategic global expansion objectives to enhance the shipping division under AD Ports Group’s...

Abu Dhabi, UAE – AD Ports Group has announced its plans to expand its fleet with the acquisition of five bulk carriers and three crude oil tankers. The vessel purchases are part of the company's global expansion objectives to enhance its shipping division under the AD Ports Group's Maritime Cluster.The...

Abu Dhabi, UAE--The emirate of Abu Dhabi is looking to draw some 24 million visitors by the end of 2023, six million more than it succeeded to attract last year.Ahead of Arabian Travel Market 2023, the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has announced new...

Pact involves investment of over US$272 million.

ABU DHABI, UAE - The UAE will participate in the Joint Annual Meeting of Arab Financial Institutions, which will be held Friday in Rabat, Morocco, to discuss means of overcoming the development challenges faced by the region.Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini will lead the...

Operating income increased by 51 percent year-on-year.

The UAE also eyes investment opportunities with Cambodia in logistics and infrastructure, travel and tourism projects, and renewable energy, reports said.

Abu Dhabi, UAE - A UAE delegation led by Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, visited Belgium, aiming to strengthen economic ties and promoting investment opportunities with Brussels and the wider European Union (EU).The delegation discussed growing trade relations with Vladis Dombrovskis, European Commissioner of...

Abu Dhabi, UAE – Yas Island Abu Dhabi, the country’s leisure and entertainment destination, appoints Jason Momoa to be the destination’s newest Chief Island Officer. American actor Momoa assumes the former role of stand-up comedian Kevin Hart who announced the end of his reign as Chief Island Officer earlier this year.In...

ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) and Wio Bank announced on Tuesday that would cooperate to transform how Small and Medium Enterprises (SMEs) manage their finances, payments, and their overall business operations.This partnership saves SMEs a significant amount of business operation time by fast-tracking...

Abu Dhabi,  UAE - Abu Dhabi Airports Free Zone (ADAFZ), a subsidiary of Abu Dhabi Airports, has recorded a two-fold increase in leased-out spaces and properties in 2022.The strong performance was driven by growth in leased spaces and properties, where ADAFZ signed contracts for a total of 163,580 m2, across...

The Group will acquire a 55 percent stake in Media 247.

The total acquisition cost comes to US$26.7 million.

Abu Dhabi, UAE - Abu Dhabi Marine Sports Club (ADMSC) signed an agreement with Abu Dhabi Marine for the sponsorship of the 6th Dalma Historical Race Festival (60FT dhow sailing).It is set to be organized from 28th April to 7th May, 2023, on Delma Island.Salem Al-Rumaithi, Director-General of the ADMSC,...

Abu Dhabi, UAE -- Arab music and culture fans in Al Ain were treated to a special Eid al Fitr celebration with pop singer Yara and hit-maker Fouad Abdul Wahed taking to the stage in a thrilling concert at Al Ain Convention Centre.Pop singer Yara opened proceedings on the special...

Dubai, UAE -- The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) Wednesday announced a new $100 million Culinary Investment Fund that will help introduce iconic brands to the UAE capital. DCT said in a statement that the fund will support building and establishing a Culinary School...

Diaverum is world’s third-largest provider of dialysis services.

Abu Dhabi, UAE - G42, an Abu Dhabi-based AI technology holding group, and Mubadala Investment Company on Tuesday announced the launch of M42, a first-of-its-kind, tech-enabled, integrated healthcare company created through the coming together of G42 Healthcare and Mubadala Health.M42 combines G42 Healthcare’s medical and data-centric technologies with Mubadala Health’s...

Abu Dhabi, UAE - The UAE is among the largest international investors in Brazil, with an estimated US$5 billion in Emirati investments in South American country, with the presence of major Emirati companies such as Mubadala, the largest Emirati investor in Brazil, DP World, Emirates Airlines, First Abu Dhabi Bank,...

They also announced a series of deals, including one for the UAE-controlled Mataripe refinery in northeastern Brazil to invest up to $2.5 billion in a biodiesel project in the region, and another on cooperating against climate change. The UAE is due to host the COP28 UN climate talks later this...

ABU DHABI, UAE - Brazilian President Luiz Inacio Lula da Silva arrived here Saturday, following a two-day visit to China to strengthen economic and diplomatic ties.The UAE's energy and infrastructure minister, Suhail bin Mohammed al-Mazrouei, welcomed the Brazilian leader at Abu Dhabi airport, local media reported.Lula, who in January returned to...

The bank will act as a strategic partner during listing of EIH.

Abu Dhabi, UAE - Egypt has over 3,000 Emirati companies operating in telecommunications, construction, smart cities, retail, oil and gas, ports, agriculture, hotels, and services. This was revealed by Jamal bin Saif Al Jarwan, Secretary-General of the UAE International Investors Council (UAEIIC). Giving further details, Al Jarwan said that the...

ABU DHABI, UAE - ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of ADNOC, announced on Thursday the deployment of five new-build Very Large Gas Carriers (VLGC).The gas carriers were built at Jiangnan Shipyard in Shanghai, China, and will be owned and operated by AW Shipping,...

The Big Beau project, located in California, comprises a 128-megawatt solar plant and a 40 MW/160 MWh battery energy storage system.

Abu Dhabi, UAE -- Speaker of the UAE Federal National Council (FNC) Saqr Ghobash, and the Chinese Ambassador to the UAE Zhang Yiming discussed bilateral ties at the FNC’s headquarters here.The two sides discussed a range of issues of mutual concerns, and ways of developing the overall bilateral ties between...

Abu Dhabi, UAE - Abu Dhabi Quality and Conformity Council (QCC) has made strides in developing the quality infrastructure of Abu Dhabi, enhancing the emirate's regional and international competitiveness in various key sectors, QCC annual report for 2022 said.QCC reported that achievements last year spanned preparing and implementing conformity programs,...

ABU DHABI, UAE - The Environment Agency - Abu Dhabi (EAD) has introduced the Strategic Environmental Assessment (SEA) planning program in line with UAE's Year of Sustainability.SEA will aid in evaluating environmental impacts and guiding the investigation of alternatives and potential mitigation and monitoring efforts associated with strategic projects, plans...

Careem’s ride hailing business will remain fully owned by Uber and continue to be available with all other Careem services on the existing app for customers.

MoU will leverage core competencies of both the firms.