AD Ports reaches key milestone in new terminal work
AD Ports Group has installed the first 90-tonne block for the quay wall of the new CMA Terminals Khalifa Port, marking the major development milestone with a special ceremony. Announced in September 2021, the development of the new terminal is on track with budgeted capital expenditure of AED3.3 billion. The terminal is expected […]
ADNOC ‘in talks’ to acquire or invest in energy trader Gunvor Group – report
Abu Dhabi National Oil Company (ADNOC) is reportedly looking for a partial or full acquisition of Geneva-based Gunvor Group, according to a Bloomberg report. The state-run oil producer has conducted “early-stage talks” about the potential acquisition, Bloomberg reported, citing sources who asked not to be named. Gunvor is one of the world’s largest independent commodities […]
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. […]
ARIA Commodities launches 4 projects worth $42mln in HFZA
ARIA Commodities, a leading player in the field of asphalt and distillates and storage infrastructure development, has announced it will invest a total of AED 154 million ($42 million) in the construction of four plants in the Hamriyah Free Zone (HFZA), including a bitumen plant, a refinery, a tyre cycling plant, and a storage […]
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 […]
ARIA Commodities announces $42mln investment projects in Hamriyah Free Zone
ARIA Commodities, the market specialist in the field of asphalt and distillates and storage infrastructure development, has announced it will invest a total of AED154 million in the construction of four plants in the Hamriyah Free Zone, including a Bitumen Plant, a Refinery, a Tire Cycling Plant, and a Storage Terminal. ARIA has also announced […]
Abdullah bin Zayed visits Israel’s Technion University
H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, today visited the Technion, Israel’s Institute of Technology- the oldest university in the State of Israel and one of the world’s top educational institutions in the field of science and technology. The UAE Top Diplomat toured the university and was briefed […]
Dubai’s Emirates enters codeshare deal with US flag carrier United Airlines
Dubai’s long-haul operator Emirates Airline has entered a deal with American carrier United Airlines to expand its market presence and boost passenger access to hundreds of new destinations. The “historic” commercial agreement will see Emirates passengers bound to three major business US hubs – Chicago, San Francisco and Houston – easily connect onto United flights […]
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 […]
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 […]