Abu Dhabi’s GDP expands 11.2% in first half of 2022: SCAD
ABU DHABI – Statistics Centre – Abu Dhabi (SCAD) has announced statistical data that show expansion of Abu Dhabi’s Gross Domestic Product (GDP) in the first half of 2022, reaching 11.2 percent compared to the same period last year. The growth reflects the Emirate’s robust performance and the ability of the economy to maintain competitiveness […]
Dubai: Metro services restored, no longer affected due to ‘technical issue’
The Dubai Metro line has resumed services back to normal after it had been affected by ‘technical issues’. Dubai’s Roads and Transport Authority (RTA) said that the service “between Jebel Ali and DMCC Metro Station is back to normal”. Metro services had been affected for approximately half an hour, earlier today. “Work is underway to […]
UAE: Abu Dhabi Judicial Department’s Foreign Experts Court examines 200 cases with total claims of over $816mln
The Foreign Experts Court of the Abu Dhabi Judicial Department (ADJD) has managed to maintain high adjudication rates in the cases brought before it over three years since it started operating in 2019, achieving a 90 percent disposition rate out of a total number of about 200 commercial cases submitted to its consideration, […]
Abu Dhabi achieves world’s highest vaccination rate at almost 100%
Abu Dhabi achieved the highest vaccination rate in the world at nearly 100 per cent, the Department of Health-Abu Dhabi (DoH) has announced. “Through the vaccination campaign launched by Abu Dhabi, the Emirate was able to achieve the highest vaccination rate worldwide at nearly 100 per cent,” the DoH said on Facebook. According to […]
Feriglobe records block trading deal of $101.08mln
The Abu Dhabi Securities Exchange (ADX) announced a block trading deal of AED 371.35 million on the shares of Feriglobe, a joint venture (JV) between ADNOC and OCI. The transaction was carried out on 65.15 million of the company’s shares, equivalent to 0.8% of the UAE-based company’s shares, according to recent official data. […]
UAE health ministry inks partnership deal with Mediclinic Middle East
The Ministry of Health and Prevention (MoHAP) has signed a memorandum of cooperation (MoC) with Mediclinic Middle East to strengthen mutual cooperation between the Ministry’s National Centre for Health Research (NCHR) and the group in the field of health and medical research, and explore avenues of developing and enhancing health research. Under the newly […]
UAE: Collaboration, not competition, creates wins for neobanks, say CEOs
Digital banking apps are shaking things up and introducing a seamless, cost-effective, and flexible way of accessing financial services to customers in the UAE. Although some of the worst pandemic forecasts have not yet materialised, banks continue to face long-term revenue pressure and tighter competition. The opportunity to fast-track banking transformation has never been […]
Bahrain and UAE review security co-ordination
Public Security chief Lieutenant General Tariq Al Hassan chaired the Interior Ministry’s delegation at the meeting of the Supreme Security Committee of Bahrain and the UAE in Abu Dhabi yesterday. The UAE delegation was chaired by its Interior Ministry Under-Secretary Major General Khalifa bin Harib Al Khaili. Lt Gen Al Hassan said directives by […]
Dubai’s Salik sets IPO offer price at $0.54
Dubai’s toll-gate operator Salik on Tuesday announced the final price for its IPO at AED2 ($0.54) per share, and could potentially raise AED3 billion in the float, an advertisement carried in the local media showed. The IPO, which opens for subscription today, will offer 1.5 billion shares, which represents 20% of the company’s equity capital. Salik, […]
Abu Dhabi fund ADQ is pivotal to emirate’s domestic and foreign agenda
ADQ, Abu Dhabi’s newest sovereign fund, has a remit to reshape the emirate’s economy and is key to the oil exporter’s diplomatic ambitions, according to industry experts. While the Abu Dhabi Investment Authority (ADIA) focuses almost exclusively on long-term financial returns, ADQ and Mubadala, another Abu Dhabi sovereign fund, have broader objectives, according to Steffen […]