Category : Business
Abdullah bin Zayed meets FM of Greece in Washington
His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and Foreign Minister of Greece Nikos Dendias, today reviewed the prospects of strengthening the strategic partnership ties between the two nations. This came as the two top diplomats met today in Washington D.C., where they......
Etihad Airways raises $1.2 billion loan
Etihad Airways has raised US$1.2 billion in the first sustainability-linked loan (SLL) tied to environmental, social and governance (ESG) targets in global aviation. The transaction is the largest sustainable financing in the airline’s history and follows two innovative aviation financing deals – a first-of-a-kind sustainability-linked transition sukuk in 2020 and......
Al Seer Marine and BGN International in AED624 million JV
Al Seer Marine, a marine company in the Middle East region that is engaged across multiple marine sectors, has announced the formation of a joint venture with BGN International, one of the leading energy, trading, storage, and transportation companies, to acquire a portfolio of Very Large Gas Carriers (VLGCs) for......
UAE non-oil trade with Arab countries grows 29 percent in H1 2021
Abdulla bin Touq Al Marri, Minister of Economy, represented the UAE in the 108th meeting of the Arab League’s Economic and Social Council, which was held today at the HQ of the Arab League Secretariat-General in Cairo. During the meeting, Al Marri highlighted the UAE’s keenness, upon the directives of......
Second phase of India’s petroleum reserves programme begins
India is expanding its strategic petroleum reserves programme, the Minister of State for Petroleum and Natural Gas, Rameswar Teli, told the lower House of Parliament, the Lok Sabha. In the second phase of its petroleum reserves programme, approvals were given this month for establishing two additional commercial-cum-strategic storage facilities with......
UAE ministers attend Central and South Asia conference
Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, chaired the country’s delegation that participated in the international conference entitled, “Central and South Asia: Regional Connectivity. Challenges and Opportunities,” held in the Uzbek capital, Tashkent. The conference was attended by over 600 participants from more than 40 countries, including......
UAE – Hungary deal to pave way for economic development
The UAE, represented by the Ministry of Finance (MoF), has signed an agreement to promote and protect mutual investments with Hungary. The agreement, which was signed at the ministry’s headquarters in Abu Dhabi, aims to enhance economic cooperation, provide an optimal investment environment, and secure a comprehensive balance between rights......
OFID signs deal to co-finance road network in Bangladesh
The OPEC Fund for International Development (OFID) has signed a US$75 million loan agreement with Bangladesh to improve connectivity and accessibility between the rural southwest regions and the capital Dhaka. The OPEC Fund loan will co-finance the construction of the Nalua-Baherchar Bridge (1.3km) over the Pandab-Paira River and build access......
ADNOC invests over $764 million in drilling-related services
The Abu Dhabi National Oil Company (ADNOC), announced an investment of US$763.7 million (AED2.8 billion) in integrated rigless services across six of its artificial islands in the Upper Zakum and Satah Al Razboot (SARB) fields to support its production capacity expansion to 5 million barrels per day (mmbpd) by 2030.......
Masdar signs agreement to develop solar plants in Uzbekistan
Masdar announced that it is expanding its footprint in the Republic of Uzbekistan, with the signing of agreements to develop two photovoltaic (PV) power projects in the country for a combined capacity of 440 megawatts. Sardor Umurzakov, Deputy Prime Minister and Minister of Investments and Foreign Trade of Uzbekistan, signed......