Etihad Cargo, China’s SF Airlines connect their mega hubs
Etihad Cargo, the cargo and logistics arm of Etihad Airways, has reinforced its commitment to the Chinese market with the signing of a Memorandum of Understanding (MoU) with China’s SF Airlines. As per the MoU, both carriers will start operating flights via their respective fleets to the other carrier’s hub in April, which will […]
Former Union Properties chairman, others to pay company $168.8mln
Union Properties PJSC has reached an AED 620 million ($168.8 million) settlement with its former chairman and other board members following a troubled period for the Dubai-listed developer. Bourse filings to Dubai Financial Market (DFM) said the general assembly agreed the proposed settlement from Khalifa Al Hammadi and others, under which they will pay the […]
Abu Dhabi TAQA places $1.5bln in dual tranche notes
Abu Dhabi National Energy Co. (TAQA) has placed an aggregate of $1.5 billion in 5-year and 10-year dual-tranche senior unsecured notes. The $1billion 10-year notes which will mature on 24 April 2033, were issued at a coupon rate of 4.696%, the integrated utility firm said in a statement on Tuesday. They represent TAQA’s first green […]
COP28 President-Designate calls on G7 Countries to deliver on practical, inclusive energy transition
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, while attending a joint meeting of G7 Ministers of Climate, Energy and the Environment, called on G7 nations to lead by example in making climate finance more accessible, more available, and more affordable, and to support efforts to accelerate […]
Dubai records over $327mln in realty transactions Wednesday
Dubai real estate market recorded 440 sales transactions worth AED1.1 billion, in addition to 93 mortgage deals of AED153.86 million, and 12 gift deals amounting to AED25.55 million on Wednesday, data released by Dubai’s Land Department (DLD) showed. The sales included 401 villas and apartments worth AED778.34 million, and 39 land plots worth AED320.23 billion. […]
UAE’s Masdar acquires 50% stake in US project from EDF Renewables
State-owned Masdar, the UAE’s biggest renewables company, has completed the acquisition of a 50% stake in a combined solar and battery storage project in California. In a statement issued by the Abu Dhabi-based operator on Wednesday, the financial details of the deal were not disclosed. The stake in the Big Beau project, which was first […]
EGA joins Australia-based research centre to collaborate on decarbonisation of alumina refining
Emirates Global Aluminium, the largest industrial company in the UAE outside oil and gas, has joined Australian research centre HILT CRC to support study into the decarbonisation of alumina refining. HILT CRC (Heavy Industry Low-carbon Transition Cooperative Research Centre) is working on technological breakthroughs in the decarbonisation of the steel, iron, alumina and cement industries. […]
Genesis UAE sales achieve 131% growth in 2022
Genesis UAE witnessed an astounding 131% growth compared to 2021, driven primarily by the GV70, a premium urban SUV featuring a design that maximises the brand’s athletic elegance. Also notching huge sales is GV80, the first SUV by Genesis and the G80, a mid-size luxury sedan boasting advanced safety technology and performance. The surge in […]
Abu Dhabi’ ADEK announces Educational Cost Index results for academic year 2023/24
Abu Dhabi Department of Education and Knowledge (ADEK) has revealed the results of the Educational Cost Index (ECI) and announced the approved structure for an optional increase of tuition fees for the academic year 2023/24. The announcement follows a three-year pause in tuition fees to support parents during the pandemic and recovery period. The […]
Emirates Stallions Group to sell stake in WFC Holding LLC
Abu Dhabi-listed Emirates Stallions Group (ESG) will seek shareholder approval to sell its share in subsidiary WFC Holding LLC for AED 314.58 million ($85.6 million). The company announced in a bourse filing to Abu Dhabi Securities Exchange (ADX) that it intends to sell its share to Reach Global Services Holding 1 SPV and one of […]