The Group's profit increased by 68% YoY to $13.52 million.

Abu Dhabi, UAE--The Emirates Nuclear Energy Corporation (ENEC) today announced that it has signed a Memorandum of Understanding (MoU) with General Atomics (GA), a leading US advanced technology solutions company, to collaborate on using advanced technologies and materials for nuclear energy supply. They will also cooperate on prospects that utilise...

“These efforts ensure sustainable development across all sectors, promising a bright future for generations to come,” he adds, referring to the 2023-24 Human Development Index report by the United Nations Development Programme in which the United Arab Emirates topped the regional countries.

Copenhagen, Denmark - Developing countries should not have to set stricter targets for cutting their carbon emissions before funds are available to help them transition to cleaner energies, the chairman of this year's UN climate negotiations said Thursday. Addressing a ministerial climate meeting in Copenhagen, Azerbaijan's Mukhtar Babayev said "there is...

EGA is to buy 100 percent of firm from Leichtmetall Holding.

The stakes were acquired in Vision Factory and Decovision.

The policy aims carbon emissions reduction through increased consumption of biodiesel by 20 percent by 2050. “It will lower the carbon footprint of diesel cars by 75 percent in case of consuming biodiesel by 100 percent,” said Suhail bin Mohammed Al Mazrouei, UAE Minister of Energy.

ABU DHABI, UAE – Bayanat AI PLC and Al Yah Satellite Communications Company each issued a circular on Thursday calling for their General Assembly Meetings (GAMs) to be held simultaneously on April 25 2024. During the GAMs, respective shareholders of each entity will vote on the proposed merger of the...

Paris, France--Past and future hosts of the UN climate negotiations the United Arab Emirates, Azerbaijan and Brazil announced Wednesday they would cut their own emissions in line with limiting global warming to 1.5 degrees Celsius. Nations have been under pressure to keep this warming limit alive by pledging to accelerate their...

The sale is poised to generate $1.59 billion.

The Central Bank of the UAE kept the Base Rate for the Overnight Deposit Facility (ODF) steady at 5.40%, aligning its monetary policy closely with that of the US Federal Reserve. In Qatar, the Central Bank has also decided to keep its deposit, lending, and repo rates unchanged at 5.75%,...

The cash dividend of 15.5 fils per share was okayed at Tabreed's AGA.

Abu Dhabi, UAE -- Real estate deals worth AED 87.1 billion ($23.71 billion) were recorded in Abu Dhabi during 2023, according to the Abu Dhabi Real Estate Centre (ADREC), a dedicated affiliate of the Department of Municipalities and Transport (DMT). The value of buying and selling activities surged by 159.5...

This brings the total amount of dividend for 2023 to $162m.

Abu Dhabi, UAE:  A total of 70.81 percent of companies anticipate expanding their workforce in Abu Dhabi Global Market during 2024, with 29.93 percent expecting significant increases and 40.88 percent planning moderate growth in staffing, a study said. According to the study by ADGM, the international financial center (IFC) of...

Dubai, UAE - The UAE was recognized as the top destination for international professionals seeking employment visas. According to the Annual Global Hiring Report by the Global HR platform Deel, industries like financial services, IT, computer software, marketing, advertising, and management consulting are leading in attracting international talent to the...

Masdar to buy 50 percent stake in Terra-Gen from ECP.

ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in foreign direct investment, said Jamal Bin Saif Al Jarwan, Secretary-General of the UAE International Investors Council (UAEIIC). He estimates the total value of Emirati investments abroad, encompassing both government and...

Abu Dhabi, UAE -- The assets of Islamic banks operating in the UAE exceeded AED 700 billion ($190 billion) for the first time in history at the end of 2023, according to the latest statistics from the Central Bank of the UAE (CBUAE). The statistics showed that the assets of...

Widespread internet and smartphone use is the key driver of online shopping growth, with nearly two-thirds of the UAE's population expected to engage in online shopping by 2024.

DUBAI, UAE – Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 81st meeting of DSCE, which was held virtually. The Council reviewed updates of the demand side management strategy for 2030 and 2050, which set well-studied goals to reduce water and electricity...

The financial assistance includes "$3 billion for financial support to Government’s programs and $3 billion for the private sector (including mobilization) – subject to Board approval," it added. Egypt, the Arab world's most populous nation, is in dire need of financial help as it weathers a severe economic crisis marked...

Abu Dhabi, UAE -- A three-bedroom penthouse at Nobu Residences on Saadiyat Island was sold for a record AED137 million ($37.30 million) by real estate developer Aldar. Aldar said the sale represents the highest price per square meter achieved in the emirate, at more than AED96,000 per sqm. The record...

Abu Dhabi, UAE--The UAE banking sector continued its growth momentum last year and is poised for further growth and recovery in 2024, thanks to the success of the Central Bank of the UAE's (CBUAE) strategies and policies in setting the necessary frameworks and regulations to deliver sustainable growth for the...

“Today’s frameworks to advance gender equality and women’s empowerment ring hollow in the face of the war on Gaza, which is killing Palestinian women and girls. Our commitment to the promotion and protection of women and girls worldwide must extend to them, too,” she adds.

The Board of Directors of both Nakheel and Meydan will be abolished.

The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming. say a latest IEA report.

NEW YORK, US – Minister of State Noura Al Kaabi led the United Arab Emirates’ delegation to the 68th session of the United Nations Commission on the Status of Women (CSW). The priority theme for CSW68 is “Accelerating the achievement of gender equality and the empowerment of all women and...

SHARJAH, UAE – Air Arabia shareholders approved the distribution of a 20 percent cash dividend for the financial year ended December 31, 2023 (FY2023), at the company’s Annual General Meeting (AGM). The dividend, which is equivalent to 20 fils per share, underscores another year of record financial performance for the...

Abu Dhabi, UAE -- UAE's Ministry of Finance (MoF) Friday launched digital public consultation to gather feedback from relevant stakeholders on the implementation of the Global Minimum Tax (GMT) or Global Anti-Base Erosion Model Rules (Pillar Two) (GloBE Rules) as well as other tax matters in the UAE. The consultation...

The two companies have signed a three-year partnership.

Abu Dhabi, UAE -- Non-oil trade between the UAE and the United States reached $31.4 billion in 2023 and is expected to continue growing at the same pace in 2024, said Danny E. Sebright, President of the US-UAE Business Council. Sebright added, in statements to the Emirates News Agency (WAM),...

Dubai, UAE -- The UAE advanced to the seventh rank globally in the Gender Inequality Index 2024, issued by the United Nations Development Programme (UNDP), rising significantly from its 49th place in 2015 and 11th place in 2022. The UNDP announced UAE's achievement during the meetings of the 68th session...

Dubai, UAE--Dubai welcomed 1.77 million international tourists in January 2024, an increase of 21% compared to 1.47 million visitors in the same period of 2023. According to the Dubai Tourism Performance Report for January issued by the Dubai's Department of Economy and Tourism, Western Europe ranked first in terms of...

AJMAN, UAE – Director-General of Ajman’s Department of Land and Real Estate Regulation Eng. Omar bin Omair Al Muhairi said that there were 129 real estate valuation transactions in the emirate in February, valued at around US$195 million (AED718 million). He highlighted the ongoing momentum in Ajman's real estate market,...

The company's revenue grew 6.6 percent to $18.25 billion.

The Group reported a 12% increase in EBITDA to $1.25 billion.

ABU DHABI, UAE – The United Arab Emirates and Hungary have signed an economic cooperation agreement aimed at stimulating trade and investment between the two nations.   The agreement was signed in the Hungarian capital Budapest by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and...

This brings the total dividend for 2023 to $717 million.

The offer was oversubscribed 165 times for all tranches combined.

London, United Kingdom--The UK announced Wednesday that it plans to bar overseas governments from owning British newspapers, a move that could scupper the contentious Abu Dhabi-led takeover of the Telegraph Media Group. Stephen Parkinson, a media minister, announced in the upper-chamber House of Lords that the Conservative government would amend proposed...

Abu Dhabi, UAE--ADNEC Group has announced the launch of the region's first Bitcoin MENA Conference 2024 set to take place on 9-10th December 2024 in the Abu Dhabi National Exhibition Centre (ADNEC Centre Abu Dhabi). Co-organised by Capital Events, the event management arm of ADNEC Group, and BTC Inc., the...

Dubai, UAE - More than 70% of surveyed retailers in the UAE have experienced increased revenue and higher customer footfall since adopting digital payments,  a study conducted by Visa in the United Arab Emirates (UAE), titled 'Value of Acceptance’ has revealed. The study focused on two groups of merchants - those...

Dubai, UAE--Total spending using international cards in the UAE witnessed a growth of more than 25% during the year 2023. J.K. Khalil, General Manager, MENA East, Mastercard, told Emirates News Agency (WAM) that digital payments continue to experience remarkable growth in the UAE, with more users and companies opting for...

Dubai, UAE -- Dubai hotels achieved a 3.4 percent year-on-year growth in occupancy levels, reaching 90.8 percent, according to preliminary data for February released by CoStar, a provider of global real estate information, analytics, and online marketplaces. Other key metrics also showed positive growth, with the average daily rate (ADR)...

DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in technology and digital services for the maritime sector. This collaboration aims to develop and operate the UAE Blue Pass platform, which is dedicated to creating quality packages of privileges and...

Beaten 1-0 in the first leg in the United Arab Emirates, Ronaldo took the quarter-final to penalties when he held his nerve from the spot in the 118th minute. His calmly taken spot-kick made it 4-3 on the night to the hosts, who had Ayman Yahya sent off in the...

Abu Dhabi, UAE--The technological and structural advancements in the UAE financial sector continues to enhance security, operational efficiency, accessibility of mobile banking applications, online banking and overall customer experience, according to the 4th Quarter Report of 2023 issued by the Central Bank of the UAE (CBUAE) on the Monetary, Banking...

Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of more than 3% during 2025-2028, according to a report released by GlobalData, a data analytics and consulting company, headquartered in London. The growth is attributed to the increase in investments...

ABU DHABI, UAE – The Artificial Intelligence and Advanced Technology Council (AIATC) announced on Monday the creation of MGX, a technology investment company to enable the advancement and deployment of leading-edge technologies intended to improve the lives of current and future generations. Mubadala and G42 will serve as foundational partners...