Abu Dhabi real estate transactions reach $4.69bn in Jan, Feb 2025
Abu Dhabi, UAE -- Real estate transactions in Abu Dhabi reached AED17.24 billion ($4.69 billion) in the first two months...
Business
Clip of Gaza as seaside resort posted on Trump social media accounts
The video, which racked up more than 15 million views on Instagram and was shared thousands of times on Trump's...
Business
Business
OIA invests in US battery firm ONE
ONE is focused on high-density LFP-based batteries.
- OIA and ONE signed a Strategic Collaboration Agreement (SCA) to explore potential areas of collaboration in energy storage and battery manufacturing in Oman.
- ONE is focused on high-density LFP (Lithium Iron Phosphate)-based batteries, which are created from lower-cost, more abundant iron.
Business
ADCB prices $650m green bond
The bond will be used to finance eligible green assets.
- It was 2.9 times oversubscribed, attracting interest from a range of local, regional and international investors that placed total orders of over $1.9 billion.
- As of 30th June 2023, ADCB’s eligible green loan portfolio had experienced notable year-on-year growth of 61 percent, reaching $1.65 billion, he said.
Business
ADEX and National Bank of Egypt sign $100m financing agreement
This is aimed at supporting UAE export transactions to Egypt.
- Under the terms of the agreement, a revolving loan facility of US$100 million has been established, with the primary aim of supporting transactions involving UAE exports to Egypt.
- The Abu Dhabi Exports Office extends loans and guarantees to Emirati exporters to enhance their contributions to the economy and foster their global expansion.
Geostrategy
Egypt president calls for measures to slow birthrate
Cairo, Egypt -- Egyptian President Abdel Fattah al-Sisi called Tuesday for measures to slow the birthrate in the Arab world's most...
- "We need 400,000 births per year," said the leader of the country of 105 million inhabitants which recorded nearly 2.2 million births in 2022.
- Sisi intervened when his minister of health and population, Khaled Abdel Ghaffar, told a conference that "having children is a matter of complete freedom".
Infographics
Saudi construction sector employs 3 million workers
GCC countries employ close to 20 million foreign workers, who are subject to vastly different conditions and wags compared to...
- The Gulf Cooperation Council countries have a high reliance on foreign labor. In 2020, foreign workers accounted for 60 percent of the total labor force.
- GCC countries face high unemployment among nationals, shortage of skilled labor and a mismatch between the skills of nationals and the requirements of the labor market.
Business
21 agreements and MoUs signed at Saudi-Italian Investment Forum
Milan, Italy -- The Saudi-Italian Investment Forum, jointly organized by the Saudi Ministry of Investment and the Italian Ministry of...
- The 21 MoUs and agreements signed during the Forum encompassed the sectors of energy, clean energy, healthcare, real estate, waste management, technology, and manufacturing.
- In 2022, the non-oil bilateral trade value between the Kingdom and Italy reached approximately SAR 5.6 billion (1.4 billion Euros), demonstrating significant growth potential.
Business
Mubadala, Petrobras sign MoU
The two parties will explore potential investment in a biofuel project.
- The biofuel project currently being developed by Mubadala Capital in the State of Bahia, Brazil.
- The MoU builds on biorefinery project to produce renewable diesel and sustainable aviation fuel derived from Macauba, a native Brazilian crop.
Economy
Arab economies projected to grow 3.4% in 2023: AMF official
The growth may increase to 4% in 2024. Arab Monetary Fund Director-General Dr. Abdul Rahman bin Abdullah Al Humaidi stressed...
- He also underscored the importance of intensifying efforts to develop the financial and banking sector in Arab countries and increasing access to financing and financial services
- The Arab banking system has become more prepared to absorb and withstand financial and economic shocks and risks due to its improved liquidity and solvency levels, he said.
Business
Qatar tourist arrivals surge on post-world cup momentum
Doha, Qatar -- More than 2.56 million people visited Qatar from January to August 25, which is more than the...
- This number surpasses the full-year arrivals in 2022 and marks a 157 percent increase over the same period last year.
- Immediately after the FIFA World Cup Qatar 2022, Qatar Tourism launched its 'Feel More in Qatar' global campaign.
Business
Emirates NBD invests in Komgo
The equity investment was made by Emirates NBD's Innovation Fund.
- Emirates NBD's corporate venture capital arm will enable the Group to invest in tech start-ups and companies supporting its digital strategy.
- Komgo has diverse customer base that includes more than 200 multinational corporations and global trade banks.
Abu Dhabi real estate transactions reach $4.69bn in Jan, Feb 2025
Abu Dhabi, UAE -- Real estate transactions in Abu Dhabi reached AED17.24 billion ($4.69 billion) in the first two months...
Business
Company News
MBC Group IPO plea okayed
Business
Latest News
ADNOC-Tabreed G2COOl opens
G2COOL is the first geothermal energy cooling plant in the Gulf region.
Business
Masdar, PLN push to build world’s largest floating solar plant
Dubai, UAE -- Abu Dhabi Future Energy Company (Masdar) has signed agreements to collaborate with Indonesia’s state-owned utility company, PLN,...
Business
WhatsApp update allows posting status updates via Instagram
Washington, United States -- The instant messaging platform WhatsApp launched a new update that includes an optional feature that allows...
Business
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Business
Pure Health announces IPO
The company will offer 1.11bn shares at AED3.26 per share.
- The subscription period will open on 6th December 2023 and will close on 11th December 2023 for both the Tranches.
- The company intends to list its shares on ADX on 20th December 2023.
Business
ACWA Power launches Phase I of green hydrogen project in Uzbekistan
Riyadh, Saudi Arabia -- Saudi renewables giant ACWA Power has said it launched the first phase of green hydrogen project...
- The first phase, a 3,000 ton- green ammonia pilot project, is already underway following the signing of the hydrogen purchase and power purchase agreements in May 2023.
- Once the second phase is complete, 2.4 GW of wind energy will power the production of 500,000 tons per year of green ammonia.
Business
TAMM partners with AI71 to use UAE’s Falcon series LLMs
TAMM becomes first to use UAE’s Falcon large language models.
- Falcon LLMs will equip TAMM to deliver high-quality interaction by providing its users with accurate, relevant and contextually appropriate responses to their queries.
- Falcon’s capabilities extend to being a data-driven insight generator, helping TAMM refine its services based on user interactions and feedback.