The Abu Dhabi Investment Authority has indicated that growth will be driven by emerging economies like China and India as most of its markets delivered dull results in 2015.
The Abu Dhabi Investment Authority is one of the largest sovereign-wealth funds in the world with investments in a range of sectors across the world. ADIA has assets worth more than $700 billion, according to estimates but the fund recorded small negative total returns for the year from both global equities and bonds.
An Emirati woman died in a car crash after her vehicle caught fire after hitting the back of a truck in Abu Dhabi.
Abu Dhabi Police said that the woman was driving a four-wheel-drive vehicle and crashed into a truck from behind. She was travelling on Yas Road, heading towards Dubai when the accident happened at 5 pm on Monday.
Luxury automaker and aerospace manufacturer, Rolls-Royce has entered into an agreement with Mubadala Development Company for setting up a new Approved Maintenance Centre (AMC) inAbu Dhabi.
The two sides also confirmed plans for setting up a new manufacturing facility for producing aero engine components in the country. The Mubadala Development Company, which is an investment and development organisation based in Abu Dhabi, is aiming to create a state of the art aerospace help in partnership with the company.
Two leading Abu Dhabi banks, National Bank of Abu Dhabi and First Gulf Bankare planning to merger in order to create a financial giant in the region.
The proposed merger will create the largest bank in the Middle East and North Africa region with AED 642 billion or $175 billion of assets and a combined market capitalisation of approximately AED 106.9 billion or around $29.1 billion. The new entity will be a financial powerhouse and will advance the UAE's position in the global financial market.
The Abu Dhabi Education Council (Adec) has announced that it has dismissed as many as 340 teachers from state schools.
The school regulator said that the dismissed teachers made up around 3 per cent of the the total teaching staff in 255 schools. The regulator said that 272 of those teachers were dismissed "due to changes in the school curriculum as per the New School Model" and were no longer required to teach in their areas of speciality. The other 71 teachers were dismissed due to failure to meet performance standards.
- Postage Prices will Decrease from Sunday; USPS not too Happy About It
- Marriott and Starwood Hotels & Resorts Worldwide Inc Shareholders Approve to $14.41 Sales Deal
- UK plan to impose additional tax on sugary drinks
- Obesity during pregnancy may increase risk of very ‘large babies’
- Dropping Sales at Gap’s Key Brands hurt the Company’s Shares