Economy

The number of hotel guests staying in Abu Dhabi emirate during the third quarter of 2019 exceeded 1.3 million, an increase of 1.7 percent compared to the same period in 2018, according to the figures released by the Department of Culture and Tourism – Abu Dhabi, DCT Abu Dhabi. In …

Oil and gas will continue to play a central role in achieving sustainable economic development and reducing ‘energy poverty’, Mohammad Sanusi Barkindo, Secretary-General of the Organisation of the Petroleum Exporting Countries, OPEC, has told industry leaders at the Abu Dhabi International Petroleum Exhibition and Conference, ADIPEC. Presenting data from the …

The Abu Dhabi National Oil Company, ADNOC, today announced a significant investment to upgrade its giant Bab onshore field, one of its largest onshore producing assets, located 160 kilometres southwest of Abu Dhabi city. The investment – valued at AED1.8 billion ($489 million) – will re-energise ADNOC’s first field producing …

ADNOC LNG announced today it has concluded supply agreements with subsidiaries of BP and TOTAL, effectively booking out the majority of its LNG production through Q1 2022. With the transactions, ADNOC LNG has continued to expand its footprint into new regions and markets. The agreements were signed by officials from …

Dubai Mercantile Exchange (DME), the premier international energy futures exchange in the Middle East, today announced a 21% increase year-on-year in exchange trading activities, along with 172% increase in forward curve trading, following Saudi Aramco’s adoption of DME Oman in its official selling price in October 2018. In 2019, DME …

Intercontinental Exchange is to launch a new exchange in Abu Dhabi to host the first futures contract based on the state oil company’s Murban crude. Abu Dhabi National Oil Company will join other oil majors and traders as founder partners in Ice Futures Abu Dhabi, which will be established in …

Air Arabia (PJSC), the Middle East and North Africa’s largest low-cost carrier, today announced strong financial results for the third quarter of this year ending 30th September, 2019. Air Arabia registered a record net profit of AED471 million for the three months ending 30th September, 2019, an increase of 57 …

Dr. Anwar Gargash, Minister of State for Foreign Affairs and International Cooperation, this morning addressed the sixth annual Abu Dhabi Strategic Debate, hosted by the Emirates Policy Centre. In his speech, Dr. Gargash reviewed regional developments and expressed optimism regarding the potential for significant progress over the next year, noting, …

 Italy will be strongly represented once again during the annual Abu Dhabi International Petroleum Exhibition & Conference. Aiming to identify solutions and strategies that will shape the future of the industry, the Italian energy innovators will demonstrate its know-how at ADIPEC, taking place from 11 to 14 November 2019 at …

Underlining the strong interest of Indian Business men in the competitive business environment of Dubai, a recent report issued by the Business Registration & Licensing (BRL) sector in Dubai Economy showed that 64,360 active business licences have been issued to 246,737 Indian Business men till date. Together, these Indian companies …