DP World to operate multi-purpose Dar Es Salaam Port in Tanzania
DP World has signed a 30-year concession agreement with the Tanzania Ports Authority (TPA) to operate and modernize the multi-purpose Dar es Salaam Port, connecting Tanzania and the wider region to global markets. The concession to operate and modernize the Dar es Salaam Port was awarded to DP World with the primary objective of optimizing […]
UAE allocates $200m to support low-income countries, reduce poverty
The UAE has said it will offer support to the Poverty Reduction and Growth Trust (PRGT), as part of its efforts to expand concessional financing for low-income countries. Mohamed bin Hadi Al Hussaini, UAE Minister of State for Financial Affairs, announced the country will allocate $200m to PRGT at the International Monetary and Financial Committee […]
UAE’s ADFD supports $320mln water supply project in Mauritania
Abu Dhabi Fund for Development (ADFD) has signed an agreement with the government of Mauritania to help finance a project aimed at providing potable water to the city of Kiffa ADFD’s funding for the $320 million project, which will source and supply water from the Senegal River, is $30 million (110 million UAE dirhams). The […]
ADFD finances sustainable water project in Mauritanian city of Kiffa with $30mln
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 to AED110 million (US$30 million). The total value […]
UAE: Humanitarian organisations to support Sudanese nationals unable to return home
Dubai’s Islamic Affairs and Charitable Activities Department and the Mohammed bin Rashid Al Maktoum Charity and Humanitarian Establishment announced that they have joined hands to support Sudanese nationals in the UAE who were unable to complete their journey back to Sudan due to the ongoing conflict in their country. The announcement was made in response […]
Dubai-based Shelf Drilling wins $118mln rig contract in Nigeria
Dubai-based Shelf Drilling has secured a two-year contract for its rig Shelf Drilling Scepter in Nigeria for offshore operations. The contract value, including mobilisation revenue, is about $118 million, the Oslo Stock Exchange-listed company said in a statement. The contract includes a one-year extension option, with the planned operational start-up in May 2023. The statement […]
Fawry, BOTIM cooperate to enable international money transfers for Egyptian expats in UAE
The leading Egypt-based e-payment company Fawry has signed a memorandum of understanding (MoU) with the Emirati calling app BOTIM to offer residents in the UAE and Gulf Cooperation Council (GCC) countries money transfer and invoice payment services via BOTIM app, according to an emailed press release on February 27th. As per the MoU, users in […]
UAE: EDGE signs major $1.07bln milestone deal with Angolan Navy
EDGE Group today signed a major €1 billion (US$1.07) milestone contract which will see leading shipbuilder Abu Dhabi Ship Building (ADSB) build a fleet of best-in-class 71-metre corvettes for the Angolan Navy. The BR71 MKII corvette is a highly sophisticated vessel fitted with advanced mission systems, including a 3D radar, electronic warfare suite, […]
Abu Dhabi Export Office finances capacity expansion of solar park in Togo
The Abu Dhabi Exports Office (ADEX) announced on Thursday that it signed an agreement with Togo’s Ministry of Economy and Finance to finance the increase in production capacity of the Mohammed bin Zayed Solar Park in the country. The financing will help increase the Park’s capacity from the current 50 megawatts (MW) to 70 MW […]