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 the...

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 achieved...

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 of...

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 Dhabi...

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 at...

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 Midfa,...

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 Humaidi...

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 treat...

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 to...

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 announcement...

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, exploring...

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 Rumaithi, Vice...

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 (WAM),...

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 bin...

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 of Artificial...

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 Wealth...

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 that...

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

With the latest acquisition, the firm now owns 39 JUBs.

The $1bn was committed to Blue Owl's credit platform.

Aldar Estates will benefit from a stable growth pipeline.

Abu Dhabi, UAE - The UAE Ministry of Economy has announced that Zencargo, a UK-based company with expertise in digital freight forwarding, is joining its NextGenFDI program, a government initiative to attract international investment to the UAE.The company plans to establish operations in the Emirates with a view to integrating...

The pilots of Bell 212 helicopter -- an Egyptian and a South African -- had been on a training flight for AeroGulf, the UAE's leading commercial helicopter operator. AeroGulf was founded in 1976 to provide services to the oil and gas industry, before expanding its services to other sectors.

The acquisition aims to broaden EIH's investment portfolio.

Abu Dhabi, UAE - A global summit for faith leaders from around the world will take place in Abu Dhabi from November 6 to 7, to highlight the crucial role of faith communities in addressing climate change. The summit will take place ahead of the 28th Conference of the Parties...

ABU DHABI, UAE - The global space economy has great potential in terms of economic prospects, with the sector going past the half-a-trillion-dollars mark in 2022, only a few decades after the term “space economy” came into existence.Several studies by specialized global institutions indicate that the global space sector will...

ABU DHABI, UAE - Over the course of a six-month space mission on board the International Space Station (ISS), UAE astronaut Sultan AlNeyadi conducted over 200 advanced research experiments and studies that took about 585 hours.These research experiments were held in collaboration with 10 international space agencies and 25 esteemed...

GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit declines, the banking sector thrived.

Abu Dhabi, UAE - ADNEC Group, through its tourism arm Tourism 365, has launched new charter flight services in the UAE, enhancing travel options for international tourists from multiple destinations. The new service, available from Europe and central Asia, is poised to increase visitor arrivals to the UAE, while further...

ABU DHABI, UAE - Chief Investment Officer, Emerging Markets at UBS Global Wealth Management Michael Bolliger forecasts the UAE's gross domestic product (GDP) to stand at 3.5 percent in 2023, rising to 3.9 percent in 2024.In a statement to the Emirates News Agency (WAM), Bolliger shared the bank's positive outlook...

ABU DHABI, UAE - Credit facilities provided by national banks to the business and industrial sectors rose by US$7.7 billion (AED 28.5 billion) in the first half of 2023, according to figures revealed by the Central Bank of the United Arab Emirates (CBUAE).The apex bank’s figures showed that the two...

Abu Dhabi, UAE – Q Properties, a real estate developer and subsidiary of Q Holding, announced on Tuesday the award of $0.47 billion construction contract for Reem Hills Phase 1 villas to Trojan General Contracting.Trojan will be responsible for constructing the fully sold out 218 luxury villas ranging from 4...

Abu Dhabi, UAE - Abu Dhabi Islamic Bank (ADIB) has introduced enhanced international transfer features on its mobile app and internet banking. The improvements come as the bank reports a notable 20% year-on-year increase in remittances during H1 2023.As the first bank in the UAE to offer discounts on remittance...

Many Filipino media professionals are working in the UAE that forms the core of media cooperation. “Given the strong friendly relations between the Philippines and the UAE, I think there is so much we can accomplish together. There is so much more potential in many areas, especially in media sector,”...

ABU DHABI, UAE – Chairwoman of the General Women's Union (GWU) Sheikha Fatima bint Mubarak launched the National Strategy for Empowerment of Emirati Women in the UAE for the years 2023-2031, on the occasion of the Emirati Women’s Day 2023, under the theme of “We Collaborate for Tomorrow”.This strategy comes...

ABU DHABI, UAE - Borouge's Chief Operating Officer Dr. Hasan Karam has said the fifth polypropylene unit (PP5) played a significant role in H1 2023, contributing US$209 million (AED767 million) representing 22 percent of the company's propylene sales and 10 percent of our overall turnover.In a statement to the Emirates...

Abu Dhabi, UAE - The UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri, affirmed on Tuesday the UAE's readiness to host the upcoming Conference of the Parties (COP28) this November, in collaboration with all associated partners and entities.She underscored the UAE's pivotal role in advancing global...

ABU DHABI, UAE - The Abu Dhabi Chamber of Commerce and Industry has signed a Memorandum of Understanding with the Ethiopian Investment Commission (EIC) to foster the robust economic collaboration between the two sides.The MoU also aims to establish a framework for cooperation that advances trade, investment and economic relationships...

The United States exploded off the blocks, opening up a 13-point gap on the Greeks six minutes into the first quarter. Despite questionable turnovers during patches of the game, the USA were a class apart as they extended their perfect record in World Cup tune-ups to 4-0 in games played...

Business travel spending hit $23bn in 2022, nearing pre-pandemic levels as post-pandemic business trips get longer, supported by UAE's digital nomad and freelancer programs.

Abu Dhabi, UAE -- Following the success of the Falcon Auction in the last edition of Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX) in 2022, the Emirates Falconers' Club is preparing a special auction this year from 2-8 Sept. 2023.The previous edition witnessed the purchase of the most expensive...

ABU DHABI, UAE - A two-day meeting of world leading economists and finance leaders convened by the COP28 Presidency has stated the next steps needed to establish a new framework for international climate finance and to drive progress at COP28 and beyond to COP29 and COP30.World-leading economists from the Independent...

The company attributed growth to increased volume across key sectors.