Emirates

Over $16 billion from partners push ADB’s focus on climate action, sustainable development

MANILA, 18th May, 2024 (WAM) – The Asian Development Bank (ADB)’s partners committed $16.4 billion in cofinancing in 2023, up by 44% from the previous year. This bolstered ADB’s efforts to tackle the complex challenges faced by developing member countries, as reported in ADB’s Partnership Report 2023: Climate Action, Sustainable Development. “Working hand in hand […]

Emirates

‘Jaywan’ poised to generate savings of up to AED1 billion: Chairman of UBF

DUBAI, 14th May, 2024 (WAM) — Abdulaziz Al Ghurair, Chairman of the UAE Banks Federation (UBF), affirmed that the national domestic card scheme, Jaywan, is poised to generate substantial financial savings for numerous companies and retailers across the country, amounting to AED 1 billion compared to conventional cards such as Visa and MasterCard. During remarks […]

Emirates

AD Ports Group’s revenues surge to AED3.89 billion in Q1-24

ABU DHABI, 14th May, 2024 (WAM) — AD Ports Group today announced its financial results for the three months ending 31st March 2024, reporting strong operational and financial performance, with revenue more than doubling Year-on-Year (YoY) to AED3.89 billion, +22% YoY on a Like-For-Like (LFL) basis after adjusting for the effect of mergers and acquisitions […]

Emirates

Paris Summit aims to secure commitments toward $4 billion needed to close clean cooking funding gap for Africa

ABIDJAN, 11th May, 2024 (WAM) — Development partners gathering in Paris on 14 May are expected to pledge towards the $4 billion needed to provide clean cooking access for 250 million African women by 2030. African Development Bank Group President Dr Akinwumi Adesina will co-chair the Clean Cooking Summit, to be held in Paris, alongside […]

Emirates

AED128 billion plan for world’s largest airport showcases Dubai’s investment in the future: Hamdan bin Mohammed

DUBAI, 8th May, 2024 (WAM) — H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, has approved major projects aimed at further strengthening Dubai’s position as a leading catalyst for economic growth, a destination for global tourism, and a pivotal transport hub connecting […]

Emirates

CEO of Alpheya expects company’s assets under management to reach $25 billion next year

DUBAI, 8th May, 2024 (WAM) — Roger Rouhana, the CEO of Alpheya, strategically and financially supported by the “Lunit” fund for alternative investments and “Bank of New York Mellon”, expects the company’s assets under management (AUM) to reach around US$25 billion by the beginning of 2025, with the acceleration of growth pace and the continuation […]

Emirates

ADB Governors approve $1.42 billion in 2023 allocable net income

TBILISI, GEORGIA, 5th May, 2024 (WAM) – The Board of Governors of the Asian Development Bank (ADB) today approved the bank’s 2023 financial statements and a $1.42 billion net income allocation from its ordinary capital resources, the highest in ADB’s history. The 2023 allocable net income will be allocated as follows: $1.005 billion to ADB’s […]

Emirates

Republic of Korea commits $2 billion in cofinancing with ADB for climate change-related and energy projects

TBILISI, GEORGIA,4th May, 2024 (WAM) – The Republic of Korea today signed a memorandum of understanding (MoU) with the Asian Development Bank (ADB) earmarking $2 billion in cofinancing for ADB sovereign operations over the next 3 years. The cofinancing will support climate change-related projects as well as transport, energy, agriculture, education, governance reform, health, and […]