Transport Abu Dhabi sets up new company to develop transport systems By Pramod Kumar March 12, 2023, 7:24 AM WAM Abu Dhabi Transport Company will support an integrated transport ecosystem Abu Dhabi will set up a new company to develop and operate transport systems in its rural and urban areas. Abu Dhabi Transport Company will develop rail systems and all other related services and operations. It will provide integrated transport services, including the rental of vehicles and buses, the UAE’s state-run WAM news agency reported. The new company, an affiliate of the Supreme Council for Financial and Economic Affairs, will support the emirate’s integrated transport ecosystem by developing sustainable transport systems. The council was established in 2020 to oversee the emirate’s economic direction, including investment, petroleum and natural resources. Last week the council named Sheikh Tahnoun bin Zayed Al Nahyan chairman of Abu Dhabi Investment Authority, as part of a shake-up of the UAE capital’s sovereign wealth funds. The country’s national security advisor, Sheikh Tahnoun, is the brother of UAE president Sheikh Mohammed bin Zayed Al Nahyan, who took office last May. Recently, Abu Dhabi’s ADQ and International Holding Company announced plans to create the region’s largest multi-asset class investment manager. The new investment manager will manage a portfolio of assets from ADQ’s alternative investments platform, Abu Dhabi Growth Fund and International Holding Company.
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Oil & Gas Oil prices remain near four-month highs above $80 Oil prices slipped at market open on Tuesday but remained near four-month highs as Chinese and Indian buyers sought new suppliers in the wake of the Biden administration’s toughest sanctions yet on Russian oil. Brent futures slipped 22 cents, or 0.27 percent, to $80.79 a barrel by 01:22 GMT, while US West Texas Intermediate crude fell 16 cents, or […] 53 mins ago
