UAE companies on Wednesday said they are continuing to operate despite ongoing air strikes in the region following attacks by the US and Israel on Iran.
Abu Dhabi-listed AD Ports Group, telecom firm du, Commercial Bank of Dubai, First Abu Dhabi Bank and the Adnoc group of companies put out statements separately on Wednesday about their continuing operations and business resilience.
Ports and terminals managed and operated by AD Ports Group and related services offered in the UAE “remain fully operational”, the group said in a statement to Abu Dhabi Securities Exchange (ADX), where its shares are traded.
However, it expects vessel calls to reduce at Khalifa Port in Abu Dhabi as traffic in the Strait of Hormuz declines following Iranian attacks on ships passing through the narrow waterway.
This week Iran has attacked three tankers in the strait, which is controlled jointly by Iran and Oman, leading to an unofficial suspension of trade.
Services at Khalifa Port will remain “fully operational and uninterrupted”, AD Ports said. It expects increased volumes across its diversified global maritime network due to trading routes shifting in response to regional developments.
“Overall, the impact on the maritime and shipping cluster is expected to be limited,” AD Ports said. “The group’s economic cities and free zones and logistics clusters are likewise expected to experience limited impact.”
The majority of its 122 ships – including container, bulk, Ro-Ro and multipurpose vessels – are operating outside the Strait of Hormuz, while those within the strait continue to operate intra-Gulf services, it added.
The US and Israel attacked Iran on Saturday and killed its supreme leader Ayatollah Ali Khamenei. In retaliation, Iran attacked Gulf countries with missiles and drones, damaging airports and energy infrastructure.
Adnoc Gas, Adnoc L&S, Fertiglobe, Borouge, Adnoc Distribution, Adnoc Drilling also issued separate statements on the continuity of their operations.
“Currently, Adnoc Gas operations continue as normal, and the company remains operationally and financially sound,” the company said in a statement on ADX. It added that there had been no material impact to “Adnoc Gas business, liquidity or financial position arising from recent regional developments”.
The company is monitoring the situation in the UAE and broader Gulf region and is working with the country's authorities to protect its people, facilities and operations, it added.
First Abu Dhabi Bank, the UAE’s biggest bank, continues to operate with “resilience” nationally and internationally, it said in a statement.
However the group experienced temporary service interruptions due to a broader third-party cloud service provider outage. These were addressed in “line with established incident response and technology resilience protocols”.
“Cybersecurity vigilance and technology resilience oversight remains heightened to ensure system stability and client protection. At this stage, no material impact has been identified on the group’s financial position,” the lender said.
Commercial Bank of Dubai’s banking services, systems, digital platforms and customer engagement channels remain fully operational, with no disruption to branch, digital or remote banking services, it said in a statement on Wednesday.
Telecom firm du’s network infrastructure, core systems and customer channels are operating normally, with full-service availability across mobile, fixed and enterprise segments.
“While we continue to monitor developments carefully, our business fundamentals remain robust, supported by a recurring revenue base, disciplined capital management and a strong liquidity position,” Fahad Al Hassawi, chief executive of du, said.
Du serves about 9.7 million mobile subscribers and 735,000 fixed customers
