UAE at forefront of global crisis management, experts agree at CEMS Abu Dhabi
The Crisis and Emergency Management Summit (CEMS) – Abu Dhabi, which concluded yesterday, provided a global platform for experts and specialists to shed light on the UAE’s experience as a world-leading model in emergency and crisis management. The summit gathered experts and specialists from around the world to discuss future forecasting and strive towards adopting […]
ADNOC Drilling posts 25% jump in Q1 net profit
ADNOC Drilling Co., a subsidiary of Abu Dhabi’s state oil company ADNOC, reported a Q1 2023 net profit of $219 million, 25% higher year-on-year (yoy) on the driven by onshore and oilfield services segments. The net profit fell shy of analysts’ mean estimate of $229.50 million, according to data compiled by Refinitiv’s Eikon. Revenue for […]
Emirates airline earmarks $200mln fund for sustainability research
Emirates airline has announced a $200 million sustainability R&D fund aimed to reduce the impact of fossil fuels in aviation. According to Emirates, it is the biggest single commitment by any airline for sustainability, with funds to be disbursed over three years. The airline will identify partnerships with leading organisations working on solutions in advanced […]
Central Bank of UAE issues its 2022 Annual Report on monetary, financial stability
The Central Bank of the UAE (CBUAE) issued its 2022 Annual Report, highlighting its progress and initiatives to bolster monetary and financial stability in the UAE throughout the year. The report highlighted the CBUAE’s monitoring and supervision efforts to enhance monetary stability and the financial sector’s resilience and support economic activity in the […]
UAE’s Khazna to enter Egyptian market with Benya through $250mln investment
Khazna Data Centers, headquartered in the UAE, unveiled its plan to enter the Egyptian market with Benya Group through an investment worth $250 million to build a state-of-the-art data centre which will be Egypt’s first hyper-scale data centre. The project will be built at the Maadi Technology Park, the first specialised investment zone in Egypt, […]
UAE Climate Tech forum kicks off in Abu Dhabi with 1,000 technology and climate leaders
The UAE Climate Tech forum, with the participation of over 1,000 policymakers, CEOs, experts, specialists, technology sector leaders and investors from around the world, kicked off today at the Abu Dhabi National Exhibition Centre. The two-day event, organised by the Ministry of Industry and Advanced Technology (MoIAT) in partnership with ADNOC and Abu Dhabi […]
Emirates Steel Arkan Q1 net more than doubles to $41.45mln
UAE – Emirates Steel Arkan, the largest publicly traded steel and building materials company in the UAE, has seen its first-quarter (Q1) net profit shoot up 110% to AED152.2 million ($41.45 million). This is compared to a net profit of AED72.6 million in the first three months of 2022. The strong performance in Q1 2023 […]
SoftBank nears deal to sell Fortress to Mubadala for up to $3bln- FT
SoftBank Group Corp is in late-stage talks to sell asset manager Fortress Investment Group to Abu Dhabi-based sovereign wealth fund Mubadala for as much as $3 billion, the Financial Times reported on Wednesday. The talks have been going on since last year and a deal, which will help Softbank pay down its debt, could be […]
UAE’s SirajPower completes 3.9MWp rooftop solar plant for Al Tajir Glass Industries
UAE-based distributed solar company SirajPower announced on Tuesday the successful completion of the solar rooftop project at Al Tajir Glass Industries’ manufacturing facility in the Jebel Ali Industrial Area. The 2.9-megawatt peak (MWp) solar plant, fully financed and operated by SirajPower, is expected to generate an impressive 4.6-gigawatt hours (GWh) of clean energy annually, the […]
Abu Dhabi’s EAD completes measurements of City Biodiversity Index
The Environment Agency – Abu Dhabi (EAD) has completed the measurement process for the City Biodiversity Index in Abu Dhabi City, as part of efforts to measure its success in preserving biodiversity. The index, also known as the Singapore Cities Biodiversity Index, aims to help cities achieve sustainable development, with biodiversity and people growing […]