DUBAI, DP World has signed a lease and collaboration agreement with UAE-based food producer IFFCO, for an edible oil packing plant in the Berbera Economic Zone (BEZ) in Somaliland.IFFCO’s subsidiary, IFFCO Somaliland signed a 25-year lease with BEZ to …
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OPEC daily basket price stands at $97.32 a barrel Monday
VIENNA, The price of OPEC basket of thirteen crudes stood at US$97.32 a barrel on Monday, compared with US$96.15 the previous Friday, according to OPEC Secretariat calculations.The OPEC Reference Basket of Crudes is made up of the following: Saharan Bl…
OPEC daily basket price stands at $96.15 a barrel Friday
VIENNA, The price of OPEC basket of thirteen crudes stood at US$96.15 a barrel on Friday, 4th November, compared with US$93.51 the previous day, according to OPEC Secretariat calculations.The OPEC Reference Basket of Crudes is made up of the following:…
DEWA appoints consultant for implementing the 6th phase of the Mohammed bin Rashid Al Maktoum Solar Park
Dubai Electricity and Water Authority (DEWA) has appointed a consortium of companies led by Ernst & Young (EY Consulting) to provide consultancy services for implementing the 6th phase of the Mohammed bin Rashid Al Maktoum Solar Park based on the I…
Dubai Chamber of Commerce advises companies on net zero best practices
Hosted by Dubai Chamber of Commerce Sustainability Network, knowledge sharing event highlighted various aspects of planning initiatives to reduce CO2 emissions within business operations.Dubai, UAE: The Dubai Chamber of Commerce Sustainability Network’…
UAE delegation to COP27 in Egypt has strong and diverse representation
ABU DHABI, The United Arab Emirates (UAE) is participating in the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27), being held in Sharm el-Sheikh, Egypt, with a delegation consisting of a diverse range…
GAL signs MoU with Indonesia’s MRO leader GMF AeroAsia
JAKARTA, GAL, a UAE company engaged in aircraft Maintenance, Repair and Overhaul (MRO), has signed a Memorandum of Understanding (MOU) with PT Garuda Maintenance Facility AeroAsia Tbk (GMF) aimed at exploring opportunities for joint cooperation in proj…
Ministry of Economy imposes AED2.25 million in fines on three companies operating in gold, real estate sectors
ABU DHABI, The Ministry of Economy has imposed AED2.25 million worth of administrative sanctions on three companies, two of them working in the gold and gemstones sector and one in the real estate sector.The move is part of the ministry’s efforts to st…
ADNOC Refining secures new international partners, further enabling UAE’s Industrial Growth
ABU DHABI, ADNOC Refining, a joint venture company between the Abu Dhabi National Oil Company (ADNOC), Eni, and OMV, announced today that it has entered into a strategic agreement with ADQ, an Abu Dhabi-based investment and holding company, Veolia Midd…
ADIPEC 2022 consolidates UAE’s leading position in global energy sector: ADCCI Chairman
ABU DHABI, Abdulla Mohamed Al Mazrui, Chairman of Abu Dhabi Chamber of Commerce and Industry (ADCCI), highlighted the importance of the current edition of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).Al Mazrui said, “This ye…
UAE stocks end in green
ABU DHABI, UAE financial markets ended in the green Wednesday as Dubai’s main share index gained 0.660%, and Abu Dhabi’s index added 0.165%.In the capital, FAB, ALPHADHABI, ALDAR ended higher at AED17.980, AED25.2 and AED4.3 respectively.The blue-chip …
OPEC daily basket price stands at $94.74 a barrel Wednesday
VIENNA, The price of OPEC basket of thirteen crudes stood at $94.74 a barrel on Wednesday, 2nd November, compared with $94.43 the previous day, according to OPEC Secretariat calculations.The OPEC Reference Basket of Crudes is made up of the following: …