May 2024 — Topical news of the United Arab Emirates

May 12, 2024 no comments 372
Following the acquisition, Eni holds a 60 per cent stake of Block 7, SNOC 30 per cent and RAK Gas 10 per cent Oil and gas producers Sharjah National Oil Corporation (SNOC) has acquired a 30 per cent participating interest in Ras Al Khaimah’s Block 7 from Italy’s Eni. “The...

May 11, 2024 no comments 229
The 10-year issuance marks Aldar’s second green sukuk, following its inaugural $500m sukuk issued in May last year Real estate management company and subsidiary of Aldar Properties, Aldar Investment Properties (AIP), has issued a $500m green sukuk as a part of its $2bn Trust...

May 11, 2024 no comments 196
The company’s profit for the January-March period dropped to Dhs651m, compared to Dhs763m during the same period a year earlier Dubai Electricity and Water Authority (DEWA) reported a 15 per cent drop in first-quarter profit on Thursday, despite a surge in demand for energy, water and...

May 11, 2024 no comments 196
A shareholder agreement among Etihad Rail, Oman Rail and Mubadala Investment Company has been signed to kick off the project Shareholders behind the new 303 km UAE-Oman rail network, known as Hafeet Rail, have given the go-ahead for construction to commence on the $3bn project....

May 11, 2024 no comments 180
Dirham-rupiah trade is expected to reduce transactional costs for businesses while strengthening financial cooperation The central banks of the UAE and Indonesia have signed an MoU, paving the way for the establishment of a framework that promotes the use of local currencies for...

May 10, 2024 no comments 212
The airline carried 4.2 million passengers in the January-March period, while passenger revenue came in at Dhs966m Etihad Airways’ first-quarter profit soared to $143m (Dhs526m), up from Dhs59m for the same period a year earlier, driven by a robust increase in passenger revenue and...

May 9, 2024 no comments 216
The city’s main airport registered a 31.7 per cent increase in passenger traffic in 2023 to 86.9 million, surpassing pre-pandemic levels Dubai’s main international airport is expected to receive 90 million passengers this year, the Dubai Airports chairman Sheikh Ahmed bin Saeed Al...

May 9, 2024 no comments 198
The trials were part of an exhibition by the Multi-Level Group, as part of the Abu Dhabi Mobility Week that took place last week Abu Dhabi has conducted trials for the first passenger-carrying drones in the Middle East region, as the emirate consolidates its position as a global hub...

May 9, 2024 no comments 298
Dubai ranks at the 21st position in the recently released 2024 World’s Wealthiest Cities report Yes, you read that right. Every 51st person that you meet in Dubai could be a millionaire, that is according to the recently released World’s Wealthiest Cities in 2024 report by Henley &...

May 7, 2024 no comments 253
CEO Antonoaldo Neves said Etihad was in talks with lessors and the planemakers in attempt to secure additional jets Etihad Airways would consider buying a small number of aircraft from Airbus and Boeing over the next five years if delivery slots opened up, its chief executive said on...

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