Donald Trump says US-Iran ceasefire deal on ‘life support’
Shipping disruptions, sanctions and worsening humanitarian fears deepen global anxiety as Washington rejects Tehran’s latest peace proposal over nuclear concessions.
Geostrategy
Saudi Business Council established to strengthen Eastern European partnerships
The council aims to align its focus with Saudi Arabia’s Vision 2030 and the economic agendas of Eastern European countries,...
Economy
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.
Economy
UAE Financial Restructuring Committee, World Bank discuss bankruptcy law
ABU DHABI, UAE - Members of the Consultative Council of UAE's Financial Restructuring Committee (FRC) has met with experts from...
- The meeting was held virtually and sought to discuss the latest updates on amendments to the bankruptcy law.
- The meeting discussed the proposed amendments to the bankruptcy law in terms of public policy.
Business
Batelco net profit up 9 percent
Batelco said steady revenue growth led to this rise in profit.
- Batelco has announced net profit of BD15.7 million ($41.6 million) for Q3 2021
- This is a 9 percent increase from BD14.4 million ($38.2 million) for the corresponding quarter of 2020
Business
New leaks rock Facebook
Internal documents seem to support the accusations.
- Facebook held back from doing all it could to stop users from being radicalized, say recent leaks
- It is also accused of not doing enough to stop US election misinformation from flooding the social network
Business
$2bn Arada project in new phase
Arada has launched the second residential phase of Masaar.
- The new phase is called Kaya and is located within the Al Suyoh district of Sharjah
- The new phase is said to containing 421 townhouses and villas
Business
DEWA, Ireland explore digital technology cooperation
DEWA CEO Saeed Mohammed Al Tayer and Ireland’s Minister of State for Trade Promotion, Digital and Company Regulation at the...
- This was part of the Irish commercial delegation visit to the Water, Energy, Technology, and Environment Exhibition (WETEX)
- The two parties discussed enhancing cooperation, exchange of experience between DEWA and Irish companies
Business
DEWA gets $10.9bn via IPWP model
DEWA used the IPWP model in a number of its key projects.
- One of the model’s key features includes the implementation of the directives of the leadership
- It also includes adopting a successful partnership model on sound commercial foundations
Bahrain Bourse taps Oxford Business Group for ESG reports
OBG research is expected to analyze the steps that publicly listed companies are taking to adopt and fully embrace ESG...
Business
Fans to return in small numbers to UAE leg of Indian Premier League
The Board of Control for Cricket in India, in a statement on its website, has confirmed the earlier reports, which...
- The first of the 13 remaining IPL matches is scheduled to be played this Saturday
- Tickets are expected to go on sale from Thursday on platforms including the official IPL website
Business
UAE firm retained as IPL healthcare partner
The Board of Control for Cricket in India has renewed retained VPS Healthcare as its healthcare partner for the Indian...
- VPS Healthcare has set up a 100-member multidisciplinary team for sports medicine and Covid-19 management
- Two medical teams, comprising doctors, nurses, paramedics and lab technicians, will be assigned to each stadium for every match
Donald Trump says US-Iran ceasefire deal on ‘life support’
Shipping disruptions, sanctions and worsening humanitarian fears deepen global anxiety as Washington rejects Tehran’s latest peace proposal over nuclear concessions.
Geostrategy
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
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...
Business
ACWA Power refinances Al Dur debt
ACWA was the sole financial advisor to Al Dur Phase II IWPP project company.
Business
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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...
- The dividend, which is equivalent to 20 fils per share, underscores another year of record financial performance.
- In 2023, Air Arabia added 26 new routes to its global network from its operating seven hubs.
Business
DP World 2023 profit is $1.5bn
The company's revenue grew 6.6 percent to $18.25 billion.
- DP World logged a 13 percent decarbonization in Scope 1 and Scope 2 carbon emissions.
- The cash generated from the company's operating activities rose to $4.5 billion in 2023.
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).