Equinox and NEOM announce Equinox Resort Treyam in Magna
New York, US -- Luxury hospitality group Equinox Hotels has announced plans for the opening of Equinox Resort Treyam, one...
Business
Oil prices fall amid Israeli Palestinian cease-fire hopes, US crude stockpile building
Oil prices fell on Wednesday over growing hopes for a cease-fire agreement between Israel and Hamas and rising crude inventories...
Economy
Business
Masdar City completes first net-zero energy commercial building in region
ABU DHABI, UAE - Masdar City, a sustainable urban community and a business and technology hub here, has just completed...
- NZ1 is designed to consume 53 percent less energy than an equivalent conventional building.
- Solar panels will generate 101 percent of the building’s annual energy needs, making it net-zero energy.
Geostrategy
UAE issue guidelines on unlicensed virtual asset service providers
Abu Dhabi, UAE - The National Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organizations Committee (NAMLCFTC)...
- The guidance aims to educate licensed financial institutions (LFIs) and public sector on the risks associated with unlicensed virtual asset service providers.
- It aligns with Financial Action Task Force (FATF) publication on updated guidance for a risk-based approach to virtual assets and virtual asset service providers.
Market Report
Stocks fall after Federal Reserve says it may hike interest rates
Global stocks sank after the US Federal Reserve hinted it could hike interest rates again this year to tame inflation...
- In a move dubbed a "hawkish hold" by analysts, the Fed held borrowing costs but indicated another hike is likely in 2023 to tackle US inflation.
- Sweden's Riksbank and Norway's Norges Bank each raised their key interest rates by a quarter-point.
Arts & Culture
Liverpool manager dismisses suggestions Salah could leave for Saudi club
LIVERPOOL, UK - Liverpool manager dismissed suggestions on Friday that Mohamed Salah could become the latest star name to depart European...
- Salah signed a three-year contract extension at Anfield just over 12 months ago.
- Al-Ittihad are trying to lure the Egyptian to the Gulf state with a huge salary offer.
Science
Chinese doctors use 5G remote robot to perform successful surgery
XINJIANG, CHINA - China has successfully performed the world's first liver resection surgery utilising a domestically developed 5G remote robot,...
- A medical team from Zhejiang and Xinjiang provinces collaborated through the use of 5G remote robot, overcoming a considerable distance of 4,600 kilometers
- Leading the team was Dr. Liang Xiao, a chief physician from the Department of General Surgery at Zhejiang University School of Medicine's Sir Run Run Shaw Hospital
Business
DEWA, SAP-SE keen to enhance digitalization of utility sector
Dubai, UAE - Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) and Christian Klein,...
- They also explored the possibility of integrating SAP's advanced software solutions with DEWA's innovative initiatives.
- The two discussed cooperation in innovation, digital transformation, the Internet of Things, Big data analysis and cloud computing.
Economy
GCC women surpass men in education, empowerment
The GCC countries are committed to enhancing the status and competence of women, and providing support to ensure their active...
- Women in GCC countries have surpassed men in the education index, with the female-to-male ratio in university education reaching approximately 59%
- The number of female graduates in the GCC is double that of men, highlighting the region's commitment to enhance the status and competence of women
Business
ADNOC inks pact with SeaOwl to design unmanned vessels
ABU DHABI, UAE - ADNOC Logistics & Services (ADNOC L&S) announced on Thursday it has signed an agreement with SeaOwl...
- The innovative design of the vessel is likely to reduce carbon emissions up to 30 percent as the vessel will be lighter and smaller.
- The design for the 55 meters long vessel will allow the vessels to be operated from an onshore control room through a satellite link.
Syria rejoins Arab League after 11-year absence
The bloc's foreign ministers unanimously agree to allow government delegations from Syria to resume their participation in meetings ahead of...
- The bloc's foreign ministers unanimously agree to allow government delegations from Syria to resume their participation in meetings ahead of a key summit in Jeddah on May 19.
- The development comes after a decade-long suspension due to President Bashar al-Assad's crackdown on pro-democracy protesters in 2011 that sparked the country's civil war
Science
UAE astronaut AlNeyadi to join docking port relocation mission
This will be the third port relocation of a Dragon crew spacecraft, following previous relocations during the Crew-1 and Crew-2...
- AlNeyadi will take part in the mission along with NASA astronauts Stephen Bowen and Woody Hoburg and Roscosmos cosmonaut Andrey Fedyaev.
- The relocation is supported by the Mission Control Centre at NASA’s Johnson Space Centre in Houston and SpaceX in Hawthorne, California.
Equinox and NEOM announce Equinox Resort Treyam in Magna
New York, US -- Luxury hospitality group Equinox Hotels has announced plans for the opening of Equinox Resort Treyam, one...
Business
Company News
Al Ansari to pay $81m dividend
Business
Latest News
EITC to offer fintech services
Business
DP World 2023 profit is $1.5bn
Business
ACWA Power refinances Al Dur debt
ACWA was the sole financial advisor to Al Dur Phase II IWPP project company.
Business
EITC to offer fintech services
The company has been licensed for fintech services by the CBUAE.
Business
Air Arabia shareholders approve 20% dividend for FY2023
SHARJAH, UAE – Air Arabia shareholders approved the distribution of a 20 percent cash dividend for the financial year ended...
Business
Most Read
Business
ADNOC Drilling to pay $358m dividend
This brings the total dividend for 2023 to $717 million.
- The dividend will be paid on or around 3rd April 2024 to all record shareholders as of 21st March 2024.
- ADNOC Drilling said the annual distribution is expected to grow by at least 5 percent per annum on a dividend per-share basis over the next three years (2024-2026).
Business
Women returners to MENA workforce can contribute $385bn to GDP
Doha, Qatar -- Women returning to the workforce following a career break have the potential to contribute nearly $385bn to...
- A PwC Middle East study shows nearly half (44%) of women in MENA have taken a break over the course of their careers, typically driven by family and caregiving responsibilities.
- The report draws insights from over 1,200 women in the UAE, Saudi Arabia, Qatar, Egypt, Bahrain, Jordan, Kuwait, Lebanon, and Oman.
CI Capital 2023 revenue $134m
The firm’s performance was fueled by strong growth.
- The group’s total on-balance sheet financing portfolio ended the year at US$373 million.
- Corplease, the group’s leasing arm, saw its revenue rise 70 percent to reach US$74 million.