The country’s GPW will primarily be supported by ongoing infrastructure spending and an expected increase in visitors and residents
FAM Holding, an Emirati Group, has signed a memorandum of understanding with Nexon Star, a South Korean hydrogen technology startup, for cooperation on development in the hydrogen energy sector, to produce eco-friendly hydrogen at a low cost.
The support includes engineering, on-site support, training, and benchmarking sessions with a business development plan to introduce the new technology all over the country.
Along with its continued research for cutting edge technologies and the ambition to push the boundaries of the development in the UAE, FAM Holding announced on Monday that they have agreed with a South Korean hydrogen technology startup firm, “Nexon Star.” The agreement paves the way for the breakthrough technology to be implemented in the UAE market.
As FAM Holding is one of the largest growing national groups in the UAE, it aims to aggressively implement this technology in multiple areas in the country and expand it using its resources and strong established base.
On the other hand, the master plan of this project matching perfectly with the government vision as renewable energy becomes a priority and main strategic sector for the coming decades.
Dr Faisal Ali Mousa, chairman of FAM Holding, said: “Implementing such technologies, by an Emirati group with the partnership of Korean innovative partner, is a key for the strategic plans of the UAE, moreover it is a crucial factor for the sustainability of our economy in the UAE. We are always trying to push the limits of exploring and implementing the best technologies to ensure a bright future for our country.” — business@khaleejtimes.com
The country’s GPW will primarily be supported by ongoing infrastructure spending and an expected increase in visitors and residents
New strategy will promote the economic and social development of the Emirate of Sharjah
The ADX-listed company said it secured all regulatory approvals and reduced its share capital to Dh1.435 billion from Dh2.325 billion to absorb all the accumulated losses
The UAE government is expected to announce its corporate tax policy framework, including its transfer pricing regulation, this summer
Excellent half year results and successful strategic execution are testament to the vital role that the company is playing in enabling significant production capacity growth for Adnoc as well as the UAE’s objective to achieve gas self-sufficiency
Yahsat is on track to grow 2022 financial year dividend by at least two per cent to 16.12 fils per share or Dh393 million ($107 million), split into two equal instalments payable around October 2022 and May 2023
The transaction is subject to customary closing conditions, including receipt of Canadian regulatory approvals, and is expected to close in the next 60 days
Strong result driven primarily by subsidiary's solid performance and profitable business acquisitions in first half 2022; H1 total revenue climbs 121% to Dh21.93 billion