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Non-oil foreign trade in Abu Dhabi increased by 12 percent in H1 to AED124 billion
In the first half of 2022, Abu Dhabi's non-oil foreign trade totaled about AED124 billion, an increase of 12% over AED110 billion and 313 million recorded in the same period in 2020 according to Abu Dhabi Customs. Exports increased by 26%…
With an AED1.8 billion deal, IHC buys 50 percent of Turkish Kalyon Enerji
Through its subsidiary International Energy Holding, International Holding Company (IHC) has acquired a 50% stake in Turkish clean energy market leader Kalyon Enerji for AED1.8 billion. The Turkish company Kalyon Enerji is owned by Kalyon…
ADNOC has signed a $1.17 billion contract for jack-up barges
In order to drive offshore operational efficiency and expand crude oil production capacity to five million barrels per day (mmbpd) by 2030, Abu Dhabi National Oil Company (ADNOC) has agreed to pay $1.17 billion (AED4.3 billion) for the…
SFD CEO receives advisor to Chadian president
Sultan bin Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development (SFD), received a delegation from the Republic of Chad today led by Issa Dobran, the Chadian President's Advisor. Zakaria Fadel Kater, Ambassador to the Kingdom of…
Saudi-Egyptian Investment Co. invests $1.3 billion in four Egyptian companies
Egypt's planning ministry announced on Wednesday that the Saudi Egyptian Investment Company (SEIC), established by the Saudi Arabian Public Investment Fund (PIF), has purchased minority stakes in four Egyptian companies valued at…
Nigeria asset sale hits regulatory snag for Exxon Mobil
In response to Nigerian President Muhammadu Buhari's approval of the $1.28 billion sale of shares in Exxon Mobil's Nigerian unit to Seplat, Nigeria's petroleum regulator said it stood by its refusal to approve the deal. Under a newly…
Canada Cartage to be acquired by Mubadala Capital
A definitive agreement has been reached between Mubadala Capital, an asset management subsidiary of Mubadala Investment Company, and Canada Cartage, a leading logistics company. To some of Canada's largest blue-chip companies in grocery,…
During Q1 2022, UAE public spending amounted to AED87.4 billion
According to Ministry of Finance statistics, Abu Dhabi's public spending in the first quarter of 2022 totaled AED87.4 billion, an increase of 19.6 percent and equivalent to AED14.34 billion over the same period last year. Moreover, the…
Collaborations with UAE help boost Indian farm exports by 31 percent
An international buyer-seller meet in Ladakh attended by buyers from Dubai and Oman and buyer-seller meetings in the UAE on agricultural and food products with registered geographical indications (GIs) tags, as well as a mango festival in…
World food prices drop for July, but supply worries persist – FAO
In the wake of the developments in Ukraine, food prices fell for the fourth consecutive month in July, according to the Food and Agricultural Organization (FAO). As expected, the UN agency has published its latest Food Price Index, a…