Transformative New Murabba Stadium design in Riyadh revealed by PIF
Equipped with cutting-edge sporting technology, the stadium will offer an immersive and personalized experience for fans. Additionally, it will act...
Economy
Drake & Scull to issue 2.4 billion shares
This will raise its share capital by $163 million to $944 million.
Business
Business
ADNOC and TotalEnergies sign agreement to export LNG globally
Abu Dhabi, UAE - ADNOC Gas announced Monday a three-year supply agreement with the TotalEnergies Gas and Power Limited for...
- Under the deal, ADNOC Gas will supply TotalEnergies LNG, which will be delivered to various export markets around the world.
- "This agreement reflects our commitment to meeting the needs of our customers by offering supply security," said CEO ADNOC Ahmed Alebri.
Business
UAE and Cambodia may eliminate tarrifs, cut non-tariff barriers
The UAE also eyes investment opportunities with Cambodia in logistics and infrastructure, travel and tourism projects, and renewable energy, reports...
- Non-oil trade relations between the two grew to $401 million in 2022, marking a 31 percent rise in comparison to 2021.
- Bilateral FDI between the two touched $3.8 million by 2020, which is likely to increase further with UAE all set to export more
Business
Medical tourists spent $270m in Dubai during 2022: DHA
Awadh Seghayer Al Ketbi, Director-General of the DHA, said Dubai’s ability to provide high-quality patient-centered medical care has accelerated its...
- 39% percent of the medical tourists were from Asian countries, 22% from Europe and the Commonwealth of Independent States.
- The three specialities that saw the highest number of medical tourists were dermatology (31%) dentistry (24%) and gynecology (18%).
Business
Dubai Chamber of Commerce launches six F&B business groups
Dubai, UAE - Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, has launched six business...
- Fresh food sales are anticipated to grow at a CAGR of 4.9 per cent between 2022 and 2027.
- Retail sales of supermarkets in the UAE are set to rise at a current value CAGR of 4 percent.
Arts & Culture
Dubai is the new destination wedding choice for couples
DUBAI, UAE- Dubai is fast emerging as the city of choice for destination weddings, with a growing number of event...
- This is in line with the efforts aimed at boosting the emirate's stature as a perfect place for living, work and visit, and a global destination for weddings
- Globally, people are choosing Dubai to celebrate not only weddings, but also milestone celebrations and personal occasions
Arts & Culture
DEWA encourages active lifestyle by organizing sporting events
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) organized 12 sports tournaments in 2022, with the participation of 2,437...
- DEWA sponsored and hosted three sports tournaments, and participated in several local sports events.
- DEWA’s Sports Committee organized the DEWA Bowling Tournament 2022 and 120 employees participated in the event.
Economy
UAE Council for Environmental and Municipal Work launches Waste-free Schools project
DUBAI, UAE - The UAE Council for Environmental and Municipal Work held its second meeting, chaired by Mariam bint Mohammed...
- The meeting agenda also featured discussions of several key topics, including the environmental indicators of the We The UAE 2031 vision.
- The minister said that the Council explored transformational environmental projects, in line with the new methodology for federal government work.
Science
Minister reiterates UAE’s support for global biodiversity framework at meeting
MONTREAL, CANADA - UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri participated in the High-Level Segment...
- Almheiri urged other ministers to work together towards achieving the meeting’s objective of adopting the post-2020 global biodiversity framework.
- The minister called for reversing biodiversity loss and realize the 2050 Vision for Biodiversity of a world living in harmony with nature.
Geostrategy
Jordan Army chief, Cyprus defense minister discuss ties
AMMAN, JORDAN - Chairman of the Joint Chiefs of Staff Maj. Gen. Yousef Huneiti received Cyprus Defense Minister Charalambos Petrides...
- Jordan's Chairman of the Joint Chiefs of Staff said Jordan Armed Forces efforts are compatible with global endeavors to combat terrorism.
- Cypriot Defense Minister said there are plans to develop combat capabilities, standardize military concepts of the armed forces of the two countries.
Science
Dubai South, Evocargo to start trials for UAE’s first driverless vehicle
Dubai, UAE - Dubai South and Evocargo will launch UAE’s first autonomous vehicle trials for cargo at the master development’s...
- The trials will see EVO.1, Evocargo’s unmanned electric logistics vehicle, navigate Dubai South’s Logistics District from December until February 2023.
- Perfecting electric and driverless truck technology for the region will help it further reduce its carbon footprint and reinforce the city’s green credentials.
Transformative New Murabba Stadium design in Riyadh revealed by PIF
Equipped with cutting-edge sporting technology, the stadium will offer an immersive and personalized experience for fans. Additionally, it will act...
Economy
EITC to offer fintech services
Business
DP World 2023 profit is $1.5bn
Business
Latest News
ADNOC Drilling to pay $358m dividend
This brings the total dividend for 2023 to $717 million.
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...
Business
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Business
Mubadala, co-investors buy Truist stake
TIH is the fifth largest insurance broker in the United States.
- This investment follows Mubadala’s purchase in 2023 alongside Stone Point Capital and other co-investors of a 20 percent stake in TIH for US$1.95 billion.
- The all-cash transaction, which values TIH at an implied enterprise value of $15.5 billion, is expected to be completed in the second quarter of 2023.
Business
Yanbu NPC loss $129m
The company had reported net profit of $110 million in 2022.
- Against the revenue/sales of SAR 7.02 billion in 2022, the company posted revenue/sales of SAR 4.53 billion in 2023, down 35 percent.
- In a Tadawul disclosure, the company attributed the loss to lower average sales prices for all products compared to the previous period.
Business
PIF acquires 40% of Zamil Offshore
Zamil is one of the largest offshore support vessel operators.
- PIF said the investment will enable Zamil to continue expanding its services and fleet to serve the growing demand for offshore support services.
- Incorporated in 1977, Zamil Offshore manages and operates more than 90 vessels in the Arabian Gulf.