Economy

The Abu Dhabi National Oil Company, ADNOC, signed today, a strategic framework agreement with Italy’s energy company, Eni, to explore new opportunities for collaboration in carbon capture utilisation and storage, CCUS, and additional strategic opportunities in research and development across the oil and gas value chain. The agreement brings together …

The UAE is participating with a top-level delegation in the Fiftieth Annual Meeting of the World Economic Forum, to be held on 21st-24th January in Davos, Switzerland. This year, the Forum’s theme will be \Stakeholders for a Cohesive and Sustainable World’. The UAE delegation comprises H.H. Sheikh Khalid bin Mohamed …

The UAE stock markets rallied Sunday, driven by banking and property blue chips that kept sentiments high on the week’s maiden trading, with the country’s two main bourses booking AED3.8 bn in gains by the end of today’s session. Abu Dhabi Securities Exchange, ADX, General Index maintained strong performance, closing …

The Emirate of Dubai’s non-oil foreign trade volumes surged to 83 million tonnes in the first nine months of 2019, revealed Dubai Customs on Saturday. These figures represent an increase by 22 percent year-on year from 68 million tonnes during the same period in 2018. According to the customs authority, …

The Ministry of Human Resources and Emiratisation announced the adoption of new residency standards covering support service workers hired by Emirati families for two years, in implementation of the executive regulations of the Law on Support Service Workers issued by the UAE Cabinet. Khalil Khoury, Under-Secretary of the Ministry of …

The Abu Dhabi National Oil Company, ADNOC, announced today a set of comprehensive sustainability goals, extending its legacy of responsible oil and gas production and reinforcing its longstanding commitment to environmental stewardship. The announcement was made by Dr. Sultan Al Jaber, Minister of State and ADNOC Group CEO, while speaking …

Abu Dhabi Fund for Development, ADFD, the leading national entity for economic development aid, today formalised three loan agreements valued at US$33 million (AED121 million) with the Governments of Togo, Niger and Liberia. The agreements were signed in Abu Dhabi during the 10th Session of the International Renewable Energy Agency, …

Crescent Petroleum has outlined a range of efforts aimed at ensuring a sustainable future for company and the region in the decades ahead. Majid Jafar, Crescent Petroleum’s CEO, announced the company’s sustainability efforts during the opening panel of the Atlantic Council Global Energy Forum. The panel, titled “Setting the 2020 …

Borouge, a UAE petrochemicals company, launched new packaging solutions of polymers at the 7th International African-Arabian Exhibition for Plastics Industry, PLASTEX 2020, being held in Cairo, Egypt, embodying the company’s interest in strengthening its presence in the Egyptian market and positioning itself as the provider of choice of polyolefin in …

The UAE has presented its plan to combat money laundering for the upcoming month of February, during a joint review meeting held by the International Financial Action Task Force, FATF. The meeting aimed to highlight the country’s commitment to the directives adopted by FATF and the Middle East and North …