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November 2018

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Apicorp posts three-fold rise in H1 profits - Dotemirates

Apicorp posts three-fold rise in H1 profits

DAMMAM / WAM The Arab Petroleum Investments Corporation (Apicorp) announced its half year results for the six months ended June 30. The company records total income of $169.9 million as compared to $60.0.Key drivers of this strong underlying performance were a 40 percent increase in net interest income to $45.9 million, evidence of an increase of the yield and size of the loan portfolio; dividend income of $33.4 million and a realised gain from the sale of its 29 percent equity investment in National Petroleum Services.Apicorp’s total assets stood at $6.6 billion as at June 30, a 6.3 percent increase...


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UAE News

3 minute 14 second

Latifa bint Mohammed Inaugurates the sixth Downtown Design

DUBAI, 13th November, 2018 (WAM) -- H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Vice Chairman of the Board of Directors, Dubai Culture & Arts Authority, inaugurated today the sixth edition of Downtown Design which saw the participation of 175 exhibitors, including 40 regional designers. Held under the patronage of H.H., Downtown Design introduced this year Downtown Editions a new and curated section within the fair, showcasing limited-edition and bespoke design by individual studios, brands and designers from the Middle East and beyond. Downtown Design is a major component of Dubai Design Week which returns in its fourth edition...
5 minute 3 second

UAE continues to be a preferred destination for global golf

DUBAI, 13th November, 2018 (WAM) -- To celebrate the 10th anniversary of the DP World Tour Championship, DP World and the European Tour hosted an evening with Ryder Cup Legends Ian Poulter and Thomas Bjorn, to discuss the future of golf, both globally and across the UAE. They were joined by Mohammed Al Muallem, CEO & MD, DP World UAE, Daniel Van Otterdijk, SVP Group Communications, DP World and Keith Pelley, CEO, European Tour. The panel discussion, moderated by Sky Sports presenter Sarah Stirk aboard the stunning QE2, provided a platform for guests to learn about the work of the...
1 hour 48 second

Global experts partake in National Tolerance Festival seminars in Abu Dhabi

ABU DHABI, 13th November, 2018 (WAM) -- Global experts took part in seminars detailing tolerance research and developments, as part of the 2018 National Tolerance Festival. Held under the patronage of Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance, the seminars seek to enrich cultural discussions and exchange knowledge on tolerance as a field in the social sciences and practice by communities as a whole. The Ministry of Tolerance has said that it will launch a national project on tolerance research within the UAE, serving as a platform for innovation and creativity for researchers in the UAE and around...

1 hour 2 minute

Mohammed bin Rashid orders third humanitarian airlift for Jordan

DUBAI, 13th November, 2018 (WAM) -- His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, ordered another airlift of humanitarian aid to Jordan, as current weather systems threatens those affected by the floods. Further to the directives of His Highness Sheikh Mohammed, HRH Princess Haya bint Al Hussein, wife of His Highness Sheikh Mohammed bin Rashid Al Maktoum and Chairperson of International Humanitarian City, IHC, will continue to manage efforts to support Jordanian families affected by the floods and oversee the airlifts, working with the authorities in Jordan and...
1 hour 2 minute

WAM observes Houthi destruction of ‘22nd May Hospital’ in Hodeidah

HODEIDAH, 13th November, 2018 (WAM) -- The Iranian-backed Houthi militias burnt and bombed the '22nd May Hospital' in Hodeidah. The militias attacked the hospital while fleeing in a desperate attempt to cover its successive defeats in Hodeidah, as well as revealing its scorched earth policy and its act of targeting civilians. From inside the hospital, the Emirates News Agency, WAM, observed the destruction to its interior. A soldier from the Arab Coalition Forces said that the militias, as well as burning and destroying parts of the hospital, planted many Iranian-made mines in the city’s entrances and major roads, which resulted...
1 hour 3 minute

Mohammed bin Rashid visits ADIPEC 2018

ABU DHABI, 13th November, 2018 (WAM) -- His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, visited today the Abu Dhabi International Petroleum Exhibition and Conference, ADIPEC 2018, which is taking place at ADNEC in Abu Dhabi from 12th-15th November. Sheikh Mohammed toured the exhibition area accompanied by Chairman of Dubai Civil Aviation and Chief Executive of Emirates Group, H.H. Sheikh Ahmed bin Saeed Al Maktoum. This year's edition of the event attracted 2,500 companies representing 67 countries. Dr. Sultan Ahmed Al Jaber, Minister of State and Group CEO of the Abu Dhabi...