Al Fattan Holding Investment signs $20mln investment with LTechUVC

 Al Fattan Holding Investment recently announced that it will invest $20 million in Abu Dhabi for green hydrogen and ammonia manufacturing business with LTechUVC, a Korean energy company. The ‘Green Hydrogen and Ammonia Production Project’ is a 200 MW green hydrogen and ammonia manufacturing project in Abu Dhabi with a total project cost of $400 […]

Ajman DED settles consumer protection complaints with value of $1.90mln

  The Department of Economic Development in Ajman (Ajman DED) has issued a report on commercial control and consumer protection for the first half of 2023 (1H 2023). The report revealed that Ajman DED had received 2,337 consumer protection complaints and trademark infringement complaints, which were verified and resolved promptly, and the value of settling […]

UAE, Qatar announce restoration of diplomatic representation

Based on Al-Ula agreement and the joint keenness on strengthening the bilateral relations, the United Arab Emirates and the State of Qatar announced the restoration of diplomatic representation between the two countries by resuming the work at the Embassy of the UAE in Doha, and at the Embassy of Qatar in Abu Dhabi and its […]

Italy fully supports UAE COP28 Presidency, says Foreign Minister Tajani

  Antonio Tajani, Vice President of the Council and Minister of Foreign Affairs and International Cooperation of Italy, on Sunday said that Italy fully supports UAE COP28 Presidency by sharing experiences with the UAE in many sectors to make the event a big success. In an interview with the Emirates News Agency (WAM), Tajani reiterated […]

Aman’s accumulated losses reach $41.68mln in Q1-23

  The accumulated losses of Dubai Islamic Insurance and Reinsurance Company (Aman) hit AED 153.08 million as of 31 March 2023, representing 68% of the capital. In a bourse disclosure, Aman highlighted that it is exiting the insurance sector and turning into an investment company instead. This followed the announced plans of Islamic Arab Insurance […]

Dar Al Takaful incurs nearly $14.71mln accumulated losses in Q1-23

  Dar Al Takaful reported accumulated losses amounting to AED 53.70 million as of 31 March 2023. The incurred losses account for 20.60% of the paid-up capital, according to a bourse filing. In the first three months (3M) of 2023, the UAE group reported net losses worth AED 2.80 million. Meanwhile, the revenues hiked by […]

Burjeel Medical City selected to join Worldwide Innovative Networking in Personalised Cancer Medicine

Burjeel Holdings has announced that its flagship Burjeel Medical City was selected for membership in the Worldwide Innovative Networking in Personalised Cancer Medicine (WIN) Consortium. This achievement marks another significant milestone for the healthcare provider as it continues to expand its network and expertise in the field of oncology and further strengthen its position as […]

Abu Dhabi TAQA-led consortium secures $620mln funding for desalination plant

Abu Dhabi National Energy Co. (TAQA), alongside France’s ENGIE, have announced the financial closing of the 2.3 billion dirhams ($620 million) low carbon Mirfa 2 Reverse Osmosis (M2 RO) desalination project. This follows Emirates Water and Electricity Co. (EWEC) awarding the contract to develop the desalination plant to a consortium made up of TAQA, and […]

ADNOC L&S reports 79% rise in Q1 net profit

ADNOC Logistics & Services (ADNOC L&S), which is expected to list its shares on the Abu Dhabi Securities Market on Thursday following an IPO, reported Q1 2023 net profit of $144.9 million, up 79% compared with $16.2 million in the year-ago period. Abu Dhabi National Oil Co. this month sold about 1.11 billion shares at […]

AD Ports Group signs deal with Abu Dhabi Residents Office to attract top talent, investors

  AD Ports Group has announced the signing of a Memorandum of Understanding with Abu Dhabi Residents Office (ADRO), Abu Dhabi Department of Economic Development’s arm to support the emirate’s thriving international community, to promote the benefits and initiatives which aim to attract and retain top talent in Abu Dhabi. The partnership will develop a […]