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Abu Dhabi Islamic Bank approves cash dividend equalling 48.5% of net profit for 2021

The bank’s shareholders also elected a new board of directors

UAE’s ADGM, FSRA look to amend capital markets framework

ADGM’s FSRA has published a paper proposing wide-ranging amendments covering virtual assets, securities, derivatives, commodities and benchmarks

Abu Dhabi’s Yas Mall to introduce over 100 new retail stores by summer

Yas Mall is increasing its food and beverage and entertainment offerings by over 50 per cent, and introducing a dedicated home furnishing district

Bloom Holding launches all-inclusive community with over 4,000 homes in Abu Dhabi

The community is located close to Zayed City and the Abu Dhabi International Airport

Abu Dhabi

Abu Dhabi: Unvaccinated visitors now allowed to enter cultural sites, events

However, they would require a negative PCR test not older than 48 hours to do so

ADNOC

UAE’s ADNOC awards agreements worth Dhs2.4bn to support upstream growth

Over 65 percent of the award value could flow back into the UAE economy under ADNOC’s In-Country Value programme

Falcon Island by Al Hamra

Al Hamra unveils Dhs1bn Falcon Island residential project in Ras Al Khaimah

The North Island will be constructed in Phase 1 and will consist of 240 villas, ranging from two- to seven-bedrooms, with prices starting from Dhs1.2m

Louvre Abu Dhabi

Aldar Properties launches world’s first Louvre-branded residences in Abu Dhabi

Located within Saadiyat Grove, Louvre Abu Dhabi Residences will feature 400 apartments including five penthouses

UAE’s Masdar announces start of construction for solar PV plant in Azerbaijan

Masdar also signed agreements related to the development of additional clean-energy projects across the country

First Abu Dhabi Bank to open representative office in Iraq

The UAE is one of Iraq’s most important trading partners, with the value of exported goods totalling over $13.11bn in 2020

Wizz Air Abu Dhabi

Wizz Air Abu Dhabi launches new route to Asian destination

The thrice-weekly flights to Mattala in Sri Lanka will commence from June 1, 2022

UAE’s ADNOC Distribution launches range of 100% plant-based engine oils

The new lubricants will be available from March 2022

UAE’s First Abu Dhabi Bank and ADCB deny report of potential merger

The banks issued separate filings to the Abu Dhabi Securities Exchange (ADX) denying the report

Al Rawabi

Al Rawabi to establish Dhs650m dairy production facility in Abu Dhabi

The plant located in the Khalifa Industrial Zone Abu Dhabi is expected to produce 23 million litres in its first operational year

Proman Adnoc

UAE to build its first methanol production facility in Abu Dhabi

ADNOC has signed an agreement with Proman to construct a natural gas to methanol facility with an annual capacity of up to 1.8 million tons per annum

Abu Dhabi’s Tadweer to develop a new engineered landfill for hazardous waste

The landfill will employ new technologies to treat the waste generated from the project for cleaning and disinfecting the Mussafah Channel

Abu Dhabi University

Abu Dhabi University launches new e-learning centre to upskill faculty, design courses

ADU aims to offer over 20 programmes and 50 online courses for students by the 2025-2026 academic year

Getty Images

Abu Dhabi golden visa holders to receive range of exclusive benefits

It includes special offers across several sectors including automotive, insurance, banking and real estate

Abu Dhabi’s Etihad Airways posts $476m loss for 2021

The airline carried 3.5 million passengers in 2021

Covid-19 test

Abu Dhabi revises cost of PCR test to Dhs40 across the emirate

The directive is effective from today, March 1

Etihad Rail

Etihad Rail signs Dhs1.99bn financing agreement for passenger services with First Abu Dhabi Bank

The passenger service will connect 11 cities and locations in the UAE and is expected to carry over 36.5 million passengers annually by 2030

Borouge starts up fifth polypropylene unit in Ruwais

The new facility will increase Borouge’s polypropylene production capacity by more than 25 per cent to 2.24 million tonnes per year

Paul Berger Arena global CEO

Abu Dhabi’s IHC acquires 70% stake in Arena Events for Dhs239.8m

Paul Berger, the current Arena EMEA CEO, will transition to become the company’s global CEO

Dubai’s Mashreq weighs sale of payments business

Deliberations are ongoing and no final decision has yet been taken

SEBA Bank

Swiss crypto bank Seba opens office in Abu Dhabi

In a first for a full-service digital asset bank in the UAE, it received a nod from the Abu Dhabi Global Market Financial Services Regulatory Authority

Umex Simtex

UAE signs defence deals worth Dhs1.62bn on first two days of Umex and Simtex 2022

It marked an increase of 159 per cent compared to the corresponding period of last year’s exhibition

Abu Dhabi’s Mubadala and Apollo expand partnership

The expanded partnership will help Apollo originate transactions across various asset classes and grow product capabilities

Etihad

Abu Dhabi’s Etihad announces new flights to Greece, Spain and Zanzibar

The airline will begin operating these summer routes starting June 15

Cleveland Clinic Abu Dhabi - Cancer Center

New cancer treatment centre to open in Abu Dhabi this year

Cleveland Clinic Abu Dhabi’s Cancer Centre will be modelled on its Taussig Cancer Centre in Ohio

Traded values on Abu Dhabi Securities Exchange increased 407% in 2021

Market capitalisation of stocks listed on the exchange more than doubled to reach Dhs1.6tn