Abu Dhabi group to set up major wastewater plant in Uzbekistan
Abu Dhabi Sewerage Services Company (ADSSC) said it has signed an exclusive agreement with Uzsuvtaminot, a key player in improving the management of water resources in Uzbekistan, to develop a wastewater treatment plant in the country’s capital, Tashkent. With an estimated capacity of 1.5 million cubic metres a day, enough to serve over 2.3 million […]
UAE President to attend COP27 in Egypt
President His Highness Sheikh Mohamed bin Zayed Al Nahyan will attend the 27th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27), which is being held in Sharm El Sheikh in the Arab Republic of Egypt. The conference will welcome world leaders, heads of government, […]
Kuwait-backed Wafra raises $1.5bln for stakes in fund managers
Wafra Inc, an investment firm backed by Kuwait’s public pension fund, said on Monday it has raised $1.5 billion for its fourth flagship fund that will acquire minority stakes in alternative asset managers such as private equity firms. The new fund, Capital Generation IV, will seek to acquire minority stakes in “lower middle-market” […]
UAE: 1 Billion Meals distributes more than 2.5 million meals in seven Asian countries
The 1 Billion Meals initiative, the region’s largest food donation drive to support the underprivileged and undernourished in 50 countries across four continents, announced the completion of the distribution of more than 2.5 million meals across seven Asian countries, in collaboration with the Mohammed bin Rashid Al Maktoum Humanitarian and Charity Establishment (MBRCH). Organised by […]
Commercial Bank International first UAE bank to launch Metaverse location
Commercial Bank International (CBI, a corporate and retail bank headquartered in Dubai, has announced the official launch of its Metaverse location. CBI is the first UAE bank to have presence in the Metaverse and among the few early adapting banks in the Middle East and the world as well. CBI’s virtual location is now […]
Charitable group secures $500,000 for flood victims in Pakistan
A charitable organisation that works for the upliftment of the Memon community around the world has succeeded in securing pledges of $500,000 for the housing rehabilitation of those affected by floods in Pakistan. This was achieved by the World Memon Organisation (WMO) that held its biennial meeting in Dubai this weekend, while also […]
Memphis Pharmaceutical’s approves loan from ADIB to settle $15.83mln debt
The board of directors of Memphis Pharmaceutical (MPCI) approved the financing package provided from Abu Dhabi Islamic Bank (ADIB) to settle the EGP 300 million debts of El-Gomhouria Company for Drugs, according to a statement published on September 14th. El-Gomhouria for Drugs’ debts have reached EGP 294.29 million so far. Memphis is one of […]
Pak floods: Emergency relief appeal launched in UAE to help victims
Pakistan Association Dubai (PAD) has launched a campaign in the UAE to raise donations for flood victims in Pakistan. Launched in cooperation with Dar Al Ber Society and the Department of Islamic Affairs and Charitable Activities, the UAE residents can donate tents, mattresses, beds, sleeping bags; blankets, bedding, sheets, mosquito nets; dry rations such as […]
Mohammed bin Rashid issues law affiliating Dubai Media Inc. to Dubai Media Council
In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, has issued Law No. (6) of 2022 affiliating Dubai Media Incorporated (DMI) to Dubai Media Council and endorsing its objectives, tasks, and organisational structure. DMI was established pursuant to Law No. (8) of […]
Amlak Finance reports 35% higher profit in H1-22
The net earnings of Amlak Finance went up by 35% on a yearly basis by the end of the first half (H1) of 2022, standing at AED 266 million, from AED 197 million. Total income during the January-June period in 2022 dropped 9% year-on-year (YoY) to AED 319 million, compared with AED 351 million, according […]