Reading Dubai’s place on the UBS Bubble Index
The index scores the distance between current prices and their historic relationships with local rents, incomes and mortgage debt. A...
Analysis
Asia-Pacific markets gain ahead of US inflation data
Asia-Pacific markets traded higher on Thursday, following gains on Wall Street that saw the S&P 500 and Dow Jones Industrial...
Economy
Science
Saudi team discovers genetic disorder, names it Alfadhel syndrome
RIYADH, SAUDI ARABIA - A team of Saudi researchers from King Abdullah Children's Specialist Hospital (KACSH) and King Abdullah International...
- This disorder has been named Alfadhel Syndrome, after Professor Majid Alfadhel, the leader of the research team.
- The syndrome has gained official recognition and listing in the OMIM database, operated by Johns Hopkins University.
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
Reading Dubai’s place on the UBS Bubble Index
The index scores the distance between current prices and their historic relationships with local rents, incomes and mortgage debt. A...
Analysis
Company News
Amlak 2023 net profit $70m
Business
Latest News
Waha to pay cash dividend of 10 fils
The firm also okays 1.5 fils per share special dividend.
Business
EU imports US$120.5bn worth of energy products in Q4 2023
BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products...
Business
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Business
Russia not in danger of trading oil at a loss, says Lavrov
MOSCOW, RUSSIA – Russia does not see the risk of trading oil at a loss due to the redistribution of...
- Lavrov expressed confidence that Moscow is not frightened of relying on countries that will buy Russian oil and gas.
- OPEC+ regulates the market and prices in an equitable manner, taking into account the interests of consumers, the minister said.
Business
UAE unveils National Policy on Biofuels aimed at emissions cut
The policy aims carbon emissions reduction through increased consumption of biodiesel by 20 percent by 2050. “It will lower the...
- The policy has been developed by the Ministry of Energy and Infrastructure in coordination with its strategic partners from the public and private sectors.
- Al Mazrouei said the policy supports the objectives of the National Energy and Water Demand-side Management Programme and the UAE Net Zero by 2050 Strategic Initiative.
Business
Bayanat, Yahsat shareholders to vote on merger and creation of SPACE42 on April 25
ABU DHABI, UAE – Bayanat AI PLC and Al Yah Satellite Communications Company each issued a circular on Thursday calling...
- The respective shareholders of each entity will vote on the proposed merger of the two Abu Dhabi-headquartered and ADX-listed entities.
- The proposed would create one of the most valuable publicly listed space companies in the world with potential for significant global growth.