ADNOC Distribution, the UAE’s largest fuel and retail distributor, today announced that it has entered into an agreement with “TotalEnergies Marketing Afrique SAS” to acquire a 50 percent stake in TotalEnergies Marketing Egypt LLC (TotalEnergies Egypt) for about US$186 million, with an additional earn-out of up to US$17.3 million. The partnership with TotalEnergies, a leading […]Read More
A delegation from the Philippine Business Council, headed by Chairman, Prof. Gau Raganit, visited the Abu Dhabi Chamber of Commerce and Industry to cement cooperation between the Chamber and Filipino investors in Abu Dhabi. Welcomed by Mohamed Helal Al Mheiri, Director-General of the Abu Dhabi Chamber, both sides discussed strengthening bilateral relations between Abu Dhabi […]Read More
The gross value of interbank fund transfers through UAE Fund Transfer System (UAEFTS) reached to AED3.96 trillion in the first four months of 2022, an increase of 26.2 percent over the corresponding period in 2021, according to statistics released by the Central Bank of the United Arab Emirates (CBUAE) today. Statistics noted that March was […]Read More
Dubai International Financial Centre (DIFC) today announced that Lord Abbett (Middle East) Limited, a leading asset manager, has received approval from the Dubai Financial Services Authority (DFSA) to operate its first and only Middle East office. The approval will enable the company to bring its investment and client-led proposition to the Middle East investment community. […]Read More
Over 4,800 employee volunteers participated in Dubai Chamber of Commerce’s recently concluded “Give & Gain 2022” initiative. Overall, volunteers dedicated 17,460 hours across projects benefitting more than 147,000 individuals, according to a statement on Friday. The month-long event is part of the Chamber’s ENGAGE Dubai corporate volunteering programme. A total of 68 organisations, 42 corporate […]Read More
Dragon Oil, an exploration and production platform totally owned by the Government of Dubai, has renewed the partnership contract in Turkmenistan with the state-owned company, Turkmen Oil, until May 2025, for a period of ten additional years with a total value of US$1 billion. US$500 million will be paid in cash, while the remaining US$500 […]Read More
Dubai Multi Commodities Centre (DMCC) has reported its best ever performance in the first half of a year, registering 1,469 new companies in the first six months of 2022. This represents a 19 percent increase over the same period last year. In June alone, DMCC welcomed 323 new businesses to its Free Zone and business […]Read More
Abu Dhabi National Energy Company (TAQA), Abu Dhabi National Oil Company (ADNOC) and Mubadala Investment Company have entered into binding agreements for TAQA and ADNOC to purchase stakes in Abu Dhabi Future Energy Company (Masdar) from Mubadala. This is a major milestone towards completing the transaction announced late last year by President His Highness Sheikh […]Read More
Dubai International Chamber, one of three chambers operating under Dubai Chambers, has announced the opening of its new representative office in Mexico City as part of efforts to strengthen the Chamber’s presence in Latin America and explore new avenues of bilateral economic cooperation. The Mexico office, Dubai International Chamber’s fourth office in Latin America, is […]Read More
DAMAC Group and the Knowledge Fund Establishment have signed an AED20 million sponsorship agreement to support the Dubai Schools project. According to the agreement, DAMAC Group will provide scholarship funding for Emirati students’ tuition fees starting with the 2022-23 academic year. The agreement is in line with the vision of His Highness Sheikh Mohammed bin […]Read More
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