Taqa earnings jump sixfold
Abu Dhabi National Energy Co (Taqa) has reported that its first quarter profit jumped more than sixfold, boosted by its $4.94bn purchase of Canada's Prime-West Energy Trust, reported Reuters. Taqa said it earned Dhs397m ($108m), or Dh0.10 a share, in the three months ended March 31, up from Dhs64m, or Dh0.015 a share, a year earlier. Taqa is 75% owned by the Abu Dhabi Government.