PureHealth offer price $0.89 per share
The IPO witnesses demand of over AED 265bn ($72.15bn).
Business
Over-confidence leaves UAE consumers prone to online frauds: Visa study
Dubai, United Arab Emirates – Over-confidence is leaving consumers in UAE open to becoming victims of fraud, according to Visa’s...
Business
Geostrategy
UN chief calls for urgent actions as world faces Category 5 storm
Davos-Klosters, Switzerland – UN Secretary-General Antonio Guterres, in a wide-ranging address that touched on the most critical issues facing the...
- On climate change, he called on world leaders to put forward credible and transparent transition plans to achieve net-zero emissions.
- He also said a “morally bankrupt financial system” is amplifying systemic inequalities.
Interview
A true leader embraces meritocracy, shuns nepotism, says Vision 3 head Khalid Abdulla-Janahi
Khaled Abdulla-Janahi , an international Arab thought leader, feels strongly about changing the traditional perception encompassing the concept of leadership.
- Khaled Abdulla-Janahi , an international Arab thought leader, feels strongly about changing the traditional perception encompassing the concept of leadership
- Before the book was done, Khalid said, he worked and collaborated closely with a few people to look into leadership attributes.
Economy
CEOs back unlocking Africa free trade area’s $3.4 trillion potential
Davos-Klosters, Switzerland-- African heads of state and global CEOs at the World Economic Forum Annual Meeting backed the launch of...
- The AfCFTA is the largest free trade area in the world, by area and number of participating countries.
- Conceived in 2018, it now has 54 national economies in Africa, could attract billions in foreign investment.
Business
Geopolitical instability may lead to catastrophic cyberattack: Report
Over 93 percent of cybersecurity experts and 86 percent of business leaders believe “a far-reaching, catastrophic cyber event is likely...
- The Global Cybersecurity Outlook 2023 findings were based on surveys, workshops and interviews with over 300 experts and C-suite executives.
- Half of the companies surveyed said the current landscape is making them re-evaluate the countries in which their organization does business.
Business
Work begins on world’s first fully sequestered CO2 injection project
The project, which is expected to begin injecting CO2 in the second quarter of this year, will initially fully sequester...
- The CO2 injection well project builds on ADNOC's experience with its carbon capture facility at Al Reyadah, which has the capacity to capture up to 800,000 tons of CO2 per year.
- The project will also be monitored and assessed, using advanced technology at ADNOC's Thamama Digital Centre of Excellence, ADNOC said.
Business
TA’ZIZ signs ammonia agreement
The pact was signed with Fertiglobe, GS Energy and Mitsui & Co.
- Low-carbon ammonia is made from hydrogen derived from natural gas feedstocks and nitrogen, with the carbon dioxide produced captured and stored.
- The total investment in the first phase of TA’ZIZ will be in excess of $5 billion (AED18 billion), with most of the chemicals produced to be created in the UAE for the first time.
Science
WEF launches initiative to channelize US$3trn for climate and nature
The World Economic Forum launched the Giving to Amplify Earth Action (GAEA), to help unlock the US$3 trillion of financing...
- Present funding is slow and inadequate, and a new approach is needed to get capital flowing.
- Philanthropic giving is nimble, more tolerant of risks and is driven by values and long-term outcomes rather than quarterly returns.
Business
Four firms to partner for Co2 removal
ADNOC, FNRC, Masdar and 44.01 to pilot a technology in Fujairah.
- The technology permanently mineralizes carbon dioxide (CO2) within rock formations found in the Emirate of Fujairah.
- Fujairah has been selected for this pilot for to its abundance of peridotite, a form of rock that naturally reacts with CO2 to mineralize it.
Geostrategy
AI-powered project in Turkey improves wildfire prediction
Geneva, Switzerland: A project powered by Artificial Intelligence piloted in Turkey last year has improved wildfire prediction by combining static...
- The FireAId initiative, launched by the World Economic Forum in Jan 2022, is being scaled for wider use.
- In the US, there have been around 1.5 million wildfires since 2000, burning an average 7 million acres annually.
Economy
Global recession likely in 2023, say WEF chief economists
Almost two-thirds of chief economists believe a global recession is likely in 2023, with 18 percent of them considering it...
- In China, expectations of growth are polarized, with respondents almost evenly split between those who expect weak or strong growth.
- One positive signal is that supply chain disruptions are not expected to cause a significant drag on business activity in 2023.
PureHealth offer price $0.89 per share
The IPO witnesses demand of over AED 265bn ($72.15bn).
Business
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Vietnam’s VNG files for US IPO
Business
Future100 secures 25 new partnerships to support emerging firms
Dubai, UAE -- Future100, a collaborative initiative between the Ministry of Economy and the Government Development and the Future Office,...
Business
UAE foreign minister participates in high-level meetings of UNGA 78
New York, United States -- Sheikh Abdullah bin Zayed Al Nahyan, UAE's Minister of Foreign Affairs, hosted a reception at...
Geostrategy
Several UAE entities sign pact to implement ‘Sharjah Sat-2’
Sharjah, UAE -- A cooperation agreement was signed between the Sharjah Academy of Astronomy, Space Sciences & Technology (SAASST), the...
Geostrategy
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Business
Qatar records real estate sales contracts worth $60 million
Doha, Qatar -- The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
- Total sales contracts for residential units in the Real Estate Bulletin for the period from 10 Sept. to 14 Sept. 2023, is QR 88.73 million.
- The volume of real estate trading in sales contracts between Sept. 3 and Sept. 7 reached more than QR 308 million.
Business
Qatar Central Bank issues treasury bills worth $137 million for a week
Doha, Qatar -- Qatar Central Bank (QCB) issued treasury bills worth QR 500 million ($137 million) for a one-week term,...
- Earlier this month, QCB issued treasury bills for one week that amounted to QR 1 billion.
- Treasury bills are a short-term debt instrument issued by the government for the purpose of borrowing and providing cash liquidity in short terms.
Business
Dubai ranks fifth globally on key shipping development Index
Dubai, UAE -- Dubai has maintained its ranking among the top five global maritime centres on the 2023 International Shipping...
- The city also ranked first in the Arab world for sea freight and logistics services on the 2023 International Shipping Centre Development (ISCD) Index.
- Dubai is the only Arab city on the list. Singapore, London, Shanghai and Hong Kong secured the top four ranks on the Index.