UAE: New digital bank Wio gets Central Bank licence, appoints senior leadership
Wio Bank – an integrated digital banking platform – has announced the appointment of Salem Al Nuaimi as Chairman of the Board and Jayesh Patel as chief executive officer. The appointments come after the licence approval by the Central Bank of the UAE. Wio is jointly owned by Abu Dhabi Holding Company (ADQ), Alpha Dhabi, […]
Al Ameen Service launches ‘WeGotYourBack’ campaign in cooperation with Digital Dubai
Digital Dubai has joined forces with Al Ameen Service to address issues ranging from reporting cybercrime, blackmail or matters related to security and social services, as part of its efforts to support social prosperity and improve living standards. The campaign titled ‘WeGotYourBack’ aims to raise awareness and educate all segments of society to reach out […]
Dubal Holding, Nature Alu to set up UAE’s first HPA facility
Dubal Holding, the investment arm of the Dubai Government, has teamed up with Nature Alu (NA), the only North-American maker of high-purity aluminium, to set up the UAE’s first high purity aluminium (HPA) facility. The project will focus on the production of aluminium from grade 4N and above. A Memorandum of Understanding (MoU) was signed […]
Abu Dhabi to develop new electric vehicle charging infrastructure
Abu Dhabi will get new charging infrastructure and other related digital platforms following an agreement between two companies. Mubadala Investment Company PJSC (Mubadala) and ENGIE, a worldwide energy leader on Tuesday announced that they signed a Memorandum of Understanding (MoU) to explore the development of a digital platform for charging electric vehicles in Abu Dhabi […]
UAE: New 1,500MW solar plant in Abu Dhabi to power 160,000 homes
A new solar plant with 1,500-megawatt (MW) capacity will be developed in Abu Dhabi, a top official said during the World Utilities Congress held in the Capital. Emirates Water and Electricity Company (EWEC) – a leading company in the integrated coordination of planning, purchasing and supply of water and electricity across the UAE – invited […]
Emirates Steel Arkan posts profits in Q1-22
The net profits of Emirates Steel Arkan skyrocketed to AED 72.58 million in the first quarter (Q1) of 2022, compared to AED 1.22 million in the year-ago period, according to the company’s unaudited consolidated interim financials for the three-month period ended 31 March 2022. The company’s revenues amounted to AED 2.04 billion in the first […]
Agthia records 64% rise in Q1-22 profits
The net profits attributable to the owner of Agthia Group surged by 64% to AED 82.19 million in the first quarter (Q1) of 2022 from AED 49.58 million in the same period of 2021, according to the company’s unaudited consolidated financials for the three-month period ended 31 March 2022. The company generated revenues of AED […]