Its revenues rose 77% to US$92m in the same period.

The bank reported total revenue of $5.6 billion.

"The Gulf country is set to host the WTO's 13th Ministerial Conference in the first quarter of 2024 in Abu Dhabi. This event will position the UAE at the epicenter of discussions shaping global trade's future. Ossa underscored that this conference ranks among the most significant events in the WTO's...

ABU DHABI, UAE – Ahmet Burak Daglioglu, Head of the Investment Office of the Turkish Presidency, said that the cumulative foreign direct investment from the United Arab Emirates to Turkey has surged to $5.6 billion (AED 20.6 billion) from 2002 through August 2023. Speaking to the WAM during the eighth...

ABU DHABI, UAE - Archer Aviation on Tuesday announced that it has entered into an agreement with Abu Dhabi Investment Office (ADIO) with plans to commence air taxi operations in Abu Dhabi in 2026. As part of this initiative, ADIO plans to support Archer with incentives for establishing its first...

ABU DHABI, UAE - Chairman of the Abu Dhabi Department of Economic Development (ADDED) Ahmed Jasim Al Zaabi has said that investors from over 170 countries have chosen the UAE to invest, grow and expand over the past decade. He said that this reaffirms the trust of the global investment...

ABU DHABI, UAE - Al Seer Marine, a subsidiary of Abu Dhabi-based International Holding Company, has announced the takeover of the very large gas carrier (VLGC) North Gas. This strategic move marks the second VLGC delivery under the US$134 million (AED495 million) deal signed by ABGC DMCC, a joint venture...

Abu Dhabi, UAE -- The Abu Dhabi Investment Office (ADIO) announced that Marakeb Technologies will become the first anchor company to develop maritime applications in the Emirate’s new smart and autonomous vehicle industry (SAVI) cluster. Centred in Masdar City, the cluster provides facilities and value-added services within an enabling regulatory...

It is the first crypto entity to be listed on a Middle East bourse.

ABU DHABI, UAE - The United Arab Emirates, represented by the General Civil Aviation Authority (GCAA), has signed a Memorandum of Understanding (MoU) with South Korea to enhance their bilateral air transport relations. This MoU includes an agreement to increase the number of national carrier flights between the two countries...

"While the world has abundant funds, there's a need for innovative strategies to channel them into vital sectors like sustainable development, renewable energy, and the blue economy," she adds while sharing her optimism for the World Investment Forum (WIF) in Abu Dhabi, scheduled between October 16 and 20, 2023.

Abu Dhabi, UAE - Abu Dhabi Future Energy Company (Masdar), the UAE’s clean energy powerhouse will invest US$8 billion in Malaysia to develop up to 10 gigawatts (GW) of renewable energy projects by 2035.   To this end, Masdar signed an MoU with Malaysian Investment Development Authority (MIDA).  The project will...

ABU DHABI, UAE – Al Etihad Payments (AEP), a wholly-owned subsidiary of the Central Bank of the UAE (CBUAE), and NPCI International Payments Limited (NIPL), have announced a strategic partnership to develop the UAE’s first national Domestic Card Scheme (DCS). The agreement was exchanged between Saif Humaid Al Dhaheri, Assistant...

Abu Dhabi, UAE--The UAE Cybersecurity Council will organise the Regional Cybersecurity Week 2023 from October 8-12, under the title "Cybersecurity Innovation and Industry Development." The event will be held in cooperation with the International Telecommunication Union (ITU) and the Arab Regional Cybersecurity Centre (ARCC). More than 100 experts and speakers...

ABU DHABI, UAE - In the first seven months of the year, hotel establishments in the UAE generated revenues of US$7 billion (AED 26 billion), said Abdullah bin Touq Al Marri, Minister of Economy and Head of the Emirates Tourism Council. The hotels witnessed a growth of up to 24...

ABU DHABI, UAE - Emiratis are casting their votes on Saturday, the main day of the Federal National Council elections, to select 20 candidates for the 40-member FNC. This is the first time that Emiratis have been able to vote online, and many have shared their joy at being able...

ABU DHABI, UAE – ADNOC on Thursday announced the final investment decision (FID) and award of contracts for the Hail and Ghasha Offshore Development project. The project aims to operate with net zero carbon dioxide (CO2) emissions, reinforcing ADNOC’s legacy of responsible energy production and supporting its Net Zero by...

Abu Dhabi, UAE-- The Arab Development Establishment (ARDECO) has revealed that it is in talks with several international companies in the oil and gas sector to establish joint ventures boosting Abu Dhabi's industrial base. Yousef Al Nowais, CEO of the Arab Development Establishment (ARDECO), said the joint ventures will help...

They will conduct a study to build a direct air-capture facility.

ABU DHABI, UAE – ADNOC and Fertiglobe on Tuesday announced the pilot deployment of the world’s first cost-effective modular CycloneCC carbon capture unit at Fertiglobe’s 100 percent owned nitrogen fertilizer plant in the Al Ruwais Industrial Complex here. Fertiglobe was formed as a strategic partnership between ADNOC and OCI Global....

Abu Dhabi, UAE - Global demand for all forms of energy is forecast to rise by 25% through 2045, according to Haitham Al Ghais, Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC). “By 2045, the world's energy demand is expected to increase by 25% from current levels, as...

Abu Dhabi, UAE-- The UAE will produce 19.8 gigawatts of clean energy by 2030, Suhail bin Mohamed Al Mazrouei, Minister of Energy and Infrastructure, told a global audience of energy leaders at opening of ADIPEC 2023, which convened today under the theme of ‘Decarbonising. Faster. Together.’ Speaking at ADIPEC’s ministerial...

President of the upcoming COP28 climate talks Sultan Al Jaber, also the head of UAE state-owned oil firm ADNOC, told an oil conference that the fossil fuel industry would play an essential role in addressing the crisis. "This industry has been viewed as part of the problem, that it's not...

Statistical estimates published by the Statistical Centre Abu Dhabi said the construction sector grew by 19.1 percent in the second quarter and contributed 8.8 percent to the UAE capital's GDP during the quarter.

Abu Dhabi, UAE - Abu Dhabi International Progressive Energy Congress (ADIPEC) 2023 begins today here to deliberate decarbonization of the energy system and to collaborate on the energy system of tomorrow. ADIPEC 2023 is expected to attract more than 160,000+ attendees from 164 countries for its biggest edition ever. The...

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt (CBE) on Thursday entered into a Bilateral Currency Swap Agreement between the UAE Dirham (AED) and the Egyptian Pound (EGP). The agreement, signed by Khaled Mohamed Balama, Governor of the Central Bank of...

ABU DHABI, UAE - The financial markets of the United Arab Emirates topped the Arab stock exchanges during last week's trading, according to the Arab Monetary Fund (AMF). The fund, in its weekly bulletin on Arab financial markets, which monitors the performance of 13 exchanges, said that the UAE markets...

Abu Dhabi, UAE--Masdar and PLN Nusantara Power (PLN NP) have signed an agreement to develop Phase II of the successful Cirata floating photovoltaic (FPV) power plant in Indonesia by up to 500MW, in a major expansion to Southeast Asia’s largest FPV plant. The signing ceremony was witnessed by UAE Minister...

Abu Dhabi, UAE - Following the resounding success of its inaugural edition in February 2023, the Mubadala Abu Dhabi Open is set to make a triumphant return for its second edition in 2024.  The tournament, hosted by the Women's Tennis Association (WTA) in partnership with Mubadala and presented by Abu...

Dubai, UAE - Israel's energy minister and the CEO of the UAE's renewable energy firm, Masdar, have met to advance a significant water-for-energy deal with Jordan, according to the Israeli energy ministry, as reported by a section of media.  The meeting was held in preparation for an anticipated signing ceremony...

Abu Dhabi, UAE - The Abu Dhabi Securities Exchange (ADX) signed an agreement with the Expo Center Sharjah to enhance its services for Sharjah’s investor community, local media reports said. The agreement was signed at Expo Centre Sharjah, with Abdulla Salem Al Nuaimi, CEO of ADX, and Saif Mohammed Al...

ABU DHABI, UAE –  Director-General and Chairman of the Board of Directors of the Arab Monetary Fund Dr Abdul Rahman Bin Abdullah Al Humaidi said that Arab countries account for about 60 percent of the global Islamic financial industry, which amounted to US$3 trillion by the end of 2021. Al...

ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2 billion (AED8.3 billion) strategic project to provide sustainable water supply for ADNOC's onshore operations. This strategic investment between two Abu Dhabi energy giants entails developing and operating facilities to sustainably...

Abu Dhabi, UAE - Crown Prince of Abu Dhabi Sheikh Khaled bin Mohamed bin Zayed Al Nahyan attended a reception for the UAE astronaut Sultan Al Neyadi after his return from his six-month mission to space. The reception was organized by his father Saif Muftah Al Neyadi in the Umm Ghafa...

ABU DHABI, UAE - The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by 28 percent in 2022, reaching US$37.4 billion (AED 137.51 billion), compared to US$29 billion (AED 107.41 billion) in 2018. The total non-oil trade between the UAE and Saudi Arabia rose...

Firm won $109 million contract extending over four years.

The second dividend for 2023 is expected to be paid in May 2024.

Abu Dhabi, UAE - Abu Dhabi Media Network is all set to launch an English edition of its existing Al Ittihad Arabic newspaper. The yet-to-be-named daily will be a second English newspaper in the UAE’s capital city besides The National, which is owned by the International Media Investments (IMI). The...

The UAE president and the ruler of Dubai spent time in conversation with Al Neyadi – accompanied by his father and three of his children – and discussed aspects of the mission and his experience during his time in space. They congratulated him for completing the longest ever space flight...

Abu Dhabi, UAE - The UAE President Sheikh Mohamed bin Zayed Al Nahyan of the UAE and President Abdel Fattah El-Sisi of Egypt met in Abu Dhabi to discuss bilateral relations and cooperation between their countries.  The two presidents deliberated on economic, investment, and development collaborations between the two countries,...

Abu Dhabi, UAE - Abu Dhabi Sports Council discussed business developments and plans for developing the sports sector here, local media reports said. This also includes the continuation of supportive initiatives and programs to enhance the success of the sports system at the local and global levels. Mohammed Thani Al...

ABU DHABI, UAE – Director-General of the Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AMLCTF) Hamid AlZaabi said that in H1 2023, there has been a significant improvement across the board on the issue of AML/CFT in the country. In a statement to the Emirates News Agency...

Move aligns with EIH's aim to diversify sources of investment.

Lunate has more than $50bn in Assets Under Management.

Abu Dhabi, UAE - The UAE Ministry of Tolerance and Coexistence and the COP28 Presidency have signed a Memorandum of Understanding (MoU) to promote tolerance, coexistence, and human fraternity during COP28 slated to  take place from November 30 - December 12.  The UAE Minister of Tolerance and Coexistence Sheikh Nahayan...

Abu Dhabi, UAE - The Arab Monetary Fund said Wednesday that global credit card fraud losses incurred by financial institutions and individuals reached around US$32.3 billion in 2021. The losses increased substantially by 13.8 percent compared to the previous year, WAM reported. The Fund released a study titled "The Role...

Abu Dhabi, UAE - The financial wealth of United Arab Emirates (UAE) is anticipated to experience a Compound Annual Growth Rate (CAGR) of 5.5%, rising from $1 trillion to $1.3 trillion from 2022 to 2027, according to a new report by Boston Consulting Group (BCG). The BCG report, titled ‘Global...

The interim dividend reflects the firm’s robust balance sheet.

Abu Dhabi, UAE-- UAE President Sheikh Mohamed bin Zayed and Nigerian President Bola Ahmed Tinubu discussed opportunities for further bilateral collaboration in areas that serve both countries’ sustainable economic growth, including the economic, development, energy, and climate action fields in a meeting in Abu Dhabi. Sheikh Mohamed expressed his hope...

Aim is to help in decarbonization of the Polish power sector.