The company logged a net profit of $4.4m.

Abu Dhabi, UAE - The UAE government’s revenues amounted to AED115.6 billion ($31.3 billion) and its expenditures totaled AED92.5 billion ($25.0 billion) in the first quarter of 2023, the preliminary results of the UAE Government Finance Statistics Report for the first quarter of 2023, published by the Ministry of Finance...

Abu Dhabi, UAE - Khalifa Economic Zones Abu Dhabi or KEZAD Group, and Al Jazeera Steel Products Co, held the groundbreaking ceremony of the region’s first Rolling Mill with Rail production capability in Abu Dhabi. The establishment of the mill over an area of 210,000 square metres in KEZAD aims...

“Our cooperation with Japan External Trade Organisation (JETRO) is part of these efforts as Japanese experience and progress reflect role of competent talent in the scientific and technological fields, and the effectiveness of its human capital development programmes,” he adds.

The group's public market portfolio stands at $9.1bn.

Abu Dhabi, UAE - The foreign direct investment (FDI) in the individual category within Abu Dhabi's real estate sector has soared to AED 834.6 million during the first half of 2023, achieving a record growth rate of 363% compared to the corresponding period last year, the emirate's Department of Municipalities...

Al Dhannah Hospital in Al Dhafra region is owned by ADNOC.

The company's interest income reaches $797m.

It is highest ever profit achieved by FAB in a half-year.

The two companies will explore opportunities globally.

Abu Dhabi, UAE - The conditions determining taxable and exempt persons, corporate tax rates and tax periods. were highlighted at the second workshop on the recently launched corporate tax organized by the UAE Federal Tax Authority (FTA) here on Wednesday. Other key topics covered during the workshop included the Small...

Abu Dhabi, UAE - Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates (CBUAE) discussed ways to enhance the integrity of the financial system in a meeting with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) on Wednesday. They also discussed partnership between CBUAE...

Abu Dhabi, UAE - The United Arab Emirates (UAE) has secured the top spot in the Arab region and risen to 29th globally in the United Nations Industrial Development Organization's (UNIDO) Competitive Industrial Performance Index (CIP).  The index, which evaluates 153 countries, assesses national industrial performance and competitiveness on a...

Firm has committed $2 billion for more such carriers.

Talk merger of shareholdings in Borouge, Borealis.

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE)’s Financial Stability Report for 2022 said the FTSE ADX General Index (FADGI.FGI) gained more than 20 percent in 2022. The Abu Dhabi Securities Exchange (ADX) trading value increased by 21.9 percent to AED 451 billion ($122.78bn). In its overview...

ABU DHABI, UAE - The significant growth in the volume of non-oil trade between the UAE and India signifies the positive progress of the Comprehensive Economic Partnership Agreement (CEPA), more than a year after it became operational. CEPA will help deliver the target of reaching US$100 billion in non-oil trade...

Dubai, UAE - India’s Prime Minister Narendra Modi arrived in Abu Dhabi today for the final leg of his two-nation visit. The visit aims to strengthen the burgeoning bilateral ties between India and the United Arab Emirates (UAE), two strategic partners.  Indian PM is scheduled to meet with UAE President...

Abu Dhabi, UAE - UAE Islamic banking sector assets witnessed steady growth in 2022, accounting for 23.0 percent of the total UAE banking sector assets, according to the Central Bank of the UAE (CBUAE)’s Financial Stability Report for 2022.  The report highlighted the sector's continued recovery in profitability, supported by...

Abu Dhabi, UAE - The UAE’s real GDP growth accelerated during 2022 due to a robust recovery in non-oil GDP and a sizable expansion of oil GDP, according to the Financial Stability Report for 2022 released today by the Central Bank of the UAE (CBUAE). The report noted that this...

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) on Friday issued its Financial Stability Report for 2022. The report provides a comprehensive assessment of the stability of the UAE financial system, which remained resilient throughout 2022 despite global headwinds and the banking sector being well capitalized with...

Abu Dhabi, UAE-- The Crown Prince of Abu Dhabi and chairman of the Abu Dhabi Executive Council Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has reviewed progress of the projects undertaken by the government in the emirate. The crown prince in this connection chaired a meeting of the council...

Abu Dhabi, UAE - The United Arab Emirates and France reviewed the prospects of growing bilateral trade exchanges and advancing investments across various fields during the meeting between UAE Minister of Economy Abdullah bin Touq Al Marri, and the visiting French Minister Olivier Becht.  Two sides discussed investment exchanges in...

ABU DHABI, UAE – The Louvre Abu Dhabi has displayed new acquisitions including three artworks by Pablo Picasso alongside loans from partner museums and international institutions. This further strengthens Abu Dhabi as a global hub for culture. The newly exhibited artworks reinforce the museum's pivotal role as a trusted partner...

New firm is a $54 million corporate venture capital fund.

It is for capital expenditure of T4-NGS satellite program.

A minority stake in Breakwater Energy cost it US$100m.

Dubai, UAE--Dubai Investments and E20 Investment have signed a memorandum of understanding (MOU) to develop 3,750 Ha of agricultural land in Angola, harnessing the potential of the country’s agricultural sector for sustainable growth and economic development. E20 Investment, specializes in investing in and operating farms and processing facilities across the...

Abu Dhabi, UAE-- Some 5,000 new jobs have been opened up in the healthcare facilities by the Department of Health, Abu Dhabi under its "Tawteen" program for UAE nationals. All healthcare facilities in Abu Dhabi will provide the jobs for UAE nationals by the end of 2025. DoH called on...

GFCF will triple its production after setting up its Phase II in Musasafah.

There will be a process to select the best proposal.

Abu Dhabi, UAE -- NEOPLY, a South Korean blockchain technology company, will establish its global headquarters in Abu Dhabi, the Abu Dhabi Investment Office (ADIO) said Monday and added that the move underscores emirate's appeal as a magnet for innovation-driven companies. NEOPLY provides a decentralized finance (DeFi) platform and a...

ABU DHABI, UAE - The UAE ranked seventh in the world in terms of per capita national income, according to the latest data released by the World Bank. The per capita income in the UAE, based on purchasing power parity (PPP) in current international dollars, rose to Int$87,729 in July...

ABU DHABI, UAE -  UAE Ambassador to the Republic of Chad Rashid Saeed Al Shamsi on Sunday opened a field hospital in Amdjarass city. The UAE built the hospital in Chad to support Sudanese refugees. The initiative is the result of joint cooperation between three humanitarian entities in the UAE...

Abu Dhabi, UAE-- In order to protect natural rangelands and promote sustainable traditional grazing practices, the Environment Agency – Abu Dhabi (EAD) has begun issuing licenses to owners and breeders of livestock to regulate grazing and all related activities in Abu Dhabi. The licensing policy has been introduced to ensure...

Abu Dhabi, UAE - The total direct and indirect economic impact is estimated at AED 48 billion ($13 billion) the UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi told  the Emirates News Agency (WAM).  Al Zeyoudi said that the UAE is one of the largest...

Abu Dhabi, UAE - The Barakah One Company (Barakah One) - a joint-venture between the Emirates Nuclear Energy Corporation (ENEC) and the Korea Electric Power Corporation (KEPCO) - has completed the refinancing of the Barakah Nuclear Energy Plant, working with key banking institutions in the UAE. The company has refinanced...

PIF ranked seventh with a score of 92 (on the GSR score of 100), followed by Mubadala (88), among the SWFs. Regionally, the Middle East saw the biggest improvement from 32 percent in 2020 to 52 percent in 2023. It said Saudi PIF is managing to make its unparalleled growth sustainable by...

ABU DHABI, UAE -  UAE Ministry of Finance (MoF) released its annual report for the year 2022 highlighting performance, initiatives, national projects and international participation. The report is entitled "Remarkable Achievements Shaping Promising Financial Prospects",  includes MoF's most prominent achievements, leadership councils and committees, and strategic objectives. Minister of State...

Abu Dhabi, UAE - AD Ports Group on Sunday announced that it has acquired Noatum, a global integrated logistics services provider with a presence across 26 countries, for $0.72 billion. The acquisition has received approvals from all relevant regulatory bodies, including from Spanish Authorities, after it attained clearance from the...

While the global economy reels from high inflation and the war in Ukraine, the UAE looks poised for positive economic growth with the IMF and the World Bank projecting the country's economy to grow by 3.6 percent and 2.8 percent respectively. The economy will continue to benefit from tourism and...

Yerevan, Armenia – Non-oil trade volume between the UAE and Armenia reached $1.53 billion in 2022, with a growth rate of 673 percent compared to 2021, the UAE news agency Wam reported on Friday.  The total UAE non-oil exports to Armenia amounted to almost $229 million in 2022, with a...

ABU DHABI, UAE  - Dr. Mohamed Al Kuwaiti, Head of Cyber Security for the Government, led a high-level UAE delegation of dozens of participants from leading Emirati entities to Cyber Week 2023 Conference in Israel. Dr. Al Kuwaiti addressed the Cyber Week Conference as a key-note speaker in the main...

Abu Dhabi, UAE-- Prominent Abu Dhabi companies are taking part in Impower Fund Forum, the largest asset and wealth management conference in Europe that will see participation of more than 1,400 international players from nearly 60 countries. The companies from Abu Dhabi that will take part in the event include...

Will help to enhance efficiency of overseas operations.

Official data show a 6.1 percent growth in non-oil GDP during the first quarter of 2023, driven by strong performances in construction, wholesale and retail trade, transportation and storage, and financial and insurance services. The non-oil GDP (at constant prices) reached AED 146bn ($39.74bn) in Q1 compared to AED 137.7bn...

ABU DHABI, UAE -  AD Ports Group, a leading facilitator of global trade, logistics, and industry, and Premier Marine Engineering Services, a UAE-based shipyard company on Sunday announced the formation of a new joint venture, SAFEEN Drydocks. AD Ports Group will own 51 percent of the joint venture and the...

Abu Dhabi, UAE-- The emirate of Abu Dhabi has approved the disbursement of housing benefits worth US$844 million to citizens in order to lift up their standard of living. In this connection, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu...

ABU DHABI, UAE - Aggregate capital and reserves of banks operating in the UAE rose by 10 percent year-on-year (YoY) to US$118.5 billion (AED435.3 billion) at the end of April 2023 from US$107 billion (AED395.9 billion) at the end of April 2022, according to the Central Bank of the UAE’s...

Abu Dhabi, UAE - Hub71, Abu Dhabi's global tech ecosystem, has welcomed its first cohort of the year comprising 15 startups operating in priority sectors including HealthTech, FinTech, and EdTech. The addition of the latest cohort has increased the size of Hub71’s vibrant community to over 240 startups. In the...