Arabian Post Staff Abu Dhabi Securities Exchange (ADX) has announced the transfer of its Ras al-Khaimah and Fujairah branch offices to its Sharjah branch and the transfer of its Al Dhafra Region branch office to Abu Dhabi. The move is in line with ADX’s business development strategy, which is designed to facilitate digital acceleration and provide smart services in an effort to be more customer centric and […]
Abu Dhabi Emergency, Crisis and Disaster Committee for the Covid-19 Pandemic, in collaboration with Abu Dhabi Police and DOH, have announced that citizens and residents may leave Abu Dhabi emirate without a permit Entry to Abu Dhabi emirate is allowed with a permit issued by Abu Dhabi Police. Precautionary health measures will apply upon entry. Movement between Abu Dhabi’s regions (Abu Dhabi, Al Ain and Al Dhafra) […]
Arabian Post Staff Abu Dhabi Emergency, Crisis and Disaster Committee for the Covid-19 Pandemic, in collaboration with Abu Dhabi Police and DOH, have announced that the Abu Dhabi movement ban is to be extended by one week, starting Tuesday 16 June. The ban covers movements between Abu Dhabi’s regions (Abu Dhabi, Al Ain and Al Dhafrah) as well as in and out of the emirate. It applies […]
By Arabian Post Staff Emirates Strategic Investments Company (ESIC), an Abu Dhabi-based investment company owned by Sheikh Mansour bin Zayed al-Nahyan, a member of Abu Dhabi’s royal family, said it has acquired two mixed-use properties in the United Arab Emirates (UAE), one of a series of investments to be funded by last year’s successful issuance of the company’s US$600 million (Dh2.2 billion) sukuk. The Dh1 billion (US$ […]
|By Arabian Post Staff| The Abu Dhabi National Oil Company (ADNOC) announced, awarding of an onshore block – known as Onshore Block 3 – to US based international oil and gas exploration and production company Occidental Petroleum. Onshore Block 3 covers an area of 5,782 km2 located in the Al Dhafra region. Existing 3D seismic data already covers a large part of the Block which, combined with its proximity to […]
|By Arabian Post Staff| Abu Dhabi National Oil Company (ADNOC), Eni and OMV signed two new strategic equity partnerships covering both ADNOC Refining and a new trading joint venture, which will be jointly established by the three partners. In one of the largest ever refinery transactions, Eni and OMV will acquire 20% and 15% shares in ADNOC Refining respectively, with ADNOC owning the remaining 65%. The agreement […]
|By Arabian Post Staff| Groundbreaking for the UAE’s first tyre manufacturing plant by Chinese tyre company Roadbot was performed at KIZAD, Abu Dhabi’s industrial hub and part of Abu Dhabi Ports. Developed with a total investment of AED 2.2 billion ($614.37 million), the Roadbot factory is being built in KIZAD’s China-UAE Industrial Capacity Cooperation Demonstration Zone in line with international standards and equipped with latest innovative solutions […]
|By Arabian Post Staff|Kizad, part of Abu Dhabi Ports, has launched Kizad Polymers Park, which will form an integral part of the polymers conversion ecosystem in the Emirate. The Park aims to be a major economic driver for the UAE, producing 300-400 kilo tonnes of plastic products a year, creating up to 7,000 new jobs, and contributing $2.5 billion to GDP by 2025. The potential export market […]
|By Arabian Post Staff| Abu Dhabi Securities Exchange (ADX), the region’s leading financial market, together with General Holding Corporation (SENAAT), one of the largest holding companies in industrial investment in the UAE, rang the market opening bell to celebrate the listing of the first tranche of SENAAT sukuk. Valued at $300 million (1.1 billion AED), it is the first of its kind dual listing between Abu Dhabi Securities […]
|By Arabian Post Staff| French energy firm Total has secured 40 percent stake in aa major gas concession of Abu Dhabi National Oil Company (Adnoc). Under the terms of the agreement, Total will explore, appraise and develop the resources at the Ruwais Diyab Unconventional Gas Concession. Adnoc said the award is “an important milestone to reach the target of 1 billion cubic feet per day (bcfd) of unconventional gas […]
|By Arabian Post Staff| Emirates is looking at taking over Abu Dhabi’s Etihad airline, Bloomberg reported quoting people familiar with the matter. If the plan materialises, it would create the world’s biggest carrier by passenger traffic. Bloomberg said the talks, which are at a preliminary stage, would see Emirates acquire the main airline business of Abu Dhabi’s Etihad, which would keep its maintenance arm. Both airlines initially declined […]
|By Arabian Post Staff| Abu Dhabi Securities Exchange (ADX) has announced the distribution of more than AED 23.4 billion in cash dividends to around 406 thousand investors on behalf of listed companies in 2018. The cash dividends paid out by listed companies increased around 5.5% compared AED 22.2 billion in the year 2017. This announcement is a confirmation of ADX’s success in providing a distinct investment climate and […]
|By Arabian Posst Staff| Etihad Aviation Group (EAG) CEO Tony Douglas and Jiangsu Provincial Overseas Cooperation and Investment Company Limited (JOCIC) Chairman Luo Hua inked a Memorandum of Understanding (MoU) for a strategic partnership during Chinese President Xi Jinping’s three-day state visit to the United Arab Emirates. The two sides plan to cooperate on a wide range of areas in order to better support the development of […]
|By Saifur Rahman, Associate Editor| The historic first cargo of two million barrels of crude oil from the Abu Dhabi National Oil Company (ADNOC), destined for the Indian Strategic Petroleum Reserves Ltd (ISPRL) has been loaded and is en-route to India, in the presence of Dharmendra Pradhan, Indian Minister for Petroleum and Natural Gas, and Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO at a ceremony in Abu […]
A new partnership between the UAE and India will enable the UAE to communicate with India the requirements of skills and their certification for Indian workers coming to the UAE. Accordingly India can align its ambitious skill development programmes and certification procedures with the requirements of the UAE’s job market. The UAE and India announced on Monday the launch of a new strategic partnership focused on skill […]
|By Arabian Post Staff| The Abu Dhabi National Oil Company (Adnoc) is planning to significantly expand its use of Carbon Capture, Use and Storage (CCUS) technology to meet a six-fold increase in the utilization of CO2, for Enhanced Oil Recovery (EOR), over the next 10 years. The volume of the greenhouse gas safely locked away underground will be equivalent to the CO2 emitted by more than one million motor […]
|By Matein Khalid|The rise in Brent crude to $60 a barrel and the trade volume ballast generated by the world’s first post Lehman synchronized economic recovery is hugely positive for UAE economic growth in 2018. After all, the UAE is unique because Abu Dhabi’s 100 billion barrels of proven oil reserves is complemented by Dubai’s role as the Gulf’s financial, logistics, aviation, shopping and services hub. The […]
|By Arabian Post Staff| ADNOC Distribution, the retail and fuel-selling arm of Abu Dhabi’s state-owned oil company, will be valued at $8.5 billion — around the middle of a range of possible valuations — when trading opens on the Abu Dhabi Securities Exchange (ADX) next week. The sale of 10 percent of the unit in an initial public offering (IPO) was oversubscribed “multiple” times by institutional investors, and […]
|By Arabian Post Staff|ADNOC plans to explore and appraise Abu Dhabi’s unconventional gas resources, as the company seeks to enable future value creation from its untapped gas resources, the company announced. ADNOC will spend over AED 400 billion over the next five years, as it embarks on its Upstream and Downstream expansion and growth projects, the company announced. The Supreme Petroleum Council (SPC) approved ADNOC’s key strategic […]
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|By Arabian Post Staff| Employment uncertainty and the rising cost of living continues to build deflationary pressures in the residential leasing market. As a result, residents are becoming increasingly cautious with their spending and gravitating towards affordable housing options, according to the latest Abu Dhabi MarketView by CBRE. As of Q2 2017, average rentals declined by nearly 11% year-on-year and 3% quarter-on-quarter. However, analysis of the market reflects […]
|By Arabian Post Staff| Senaat, the industrial investment holding company managing the assets of the Abu Dhabi government, announced marginally lower revenue and profits for 2016. The Group claimed a solid performance by operating companies, reflecting the resilience of its business model. Revenues of AED 13.4 billion (2015: AED 14.0 billion) were marginally lower compared to the previous year and total EBITDA also declined slightly to AED 1.8 […]
Fully-fledged services included pre-building design development, construction and transportation Abu Dhabi, UAE 15May 2017 GAC Abu Dhabi has completed the preparation, construction and relocation of a logistics base dedicated to supporting Paragon Offshore’s operations. The global drilling services provider entrusted the handling of the entire project to establish the new base to GAC. That included: designing the plot and layout of the base; obtaining all necessary approvals […]
Abu Dhabi’s Mubadala Investment Co. plans to invest as much as $15 billion in SoftBank Group Corp.’s Vision Fund and start two new venture capital funds to build its technology holdings. The SoftBank fund will be “wrapped up” in two to three weeks with about $95 billion of commitments, according to Ibrahim Ajami, head of venture capital at Mubadala Capital, the sovereign wealth fund’s investment arm. Mubadala plans to […]
Private dining in the UAE is no longer the exclusive domain of the rich and famous. Heeding requests from customers with a desire for closed-door rooms and secluded enclaves for entertaining, restaurants in the country are increasingly providing spaces where patrons can host private get-togethers. While some packages can cost thousands of dirhams, if your tastes are gourmet or your group exceeds 30, there are deals to […]
