Decree issued to form Board of Dubai Corporation for Ambulance Services
Dubai, UAE -- Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum Monday issued a decree for the formation of the...
Business
SFD-financed Arkiz Agricultural Project in Mauritania inaugurated
Dubai, UAE -- The Arkiz Agricultural Project in Mauritania, which has been financed by the Saudi Fund for Development (SFD)...
Geostrategy
Business
Estithmar opens branches in Iraq
Two subsidiaries of the Qatari firm open two branches.
- Elegancia Healthcare, established a branch in Iraq in line with the memorandum of understanding that was signed recently to manage and operate several soon-to-be-opened hospitals.
- Estithmar Holding told Qatar News Agency that it signed agreements with the Iraqi investment authority worth $7 billion that includes real-estate and tourism development.
Business
Saudi minister, Chinese firms seek collaboration in housing development
Beijing, China -- Saudi Arabia's Minister of Municipal, Rural Affairs and Housing, Majid bin Abdullah Al-Hogail, has held a meeting...
- During his meeting with SITEC Group, Al-Hogail deliberated over plans to establish an industrial complex in accordance with the highest pre-casting technology standards.
- This complex will encompass finishing materials and an operational model for industrial zones, enabling the delivery of 5,000 units annually.
Business
Abu Dhabi, Dubai realty resilient despite surging inflation, interest rates
Abu Dhabi, UAE – Real estate markets of UAE capital Abu Dhabi and Dubai demonstrated resilience in the face of...
- A report by Asteco, a full-service Real Estate company, said approximately 1,400 apartments were added to the Abu Dubai market during Q2 2023.
- Average apartment, villa, and office rental rates in Dubai increased by 6 percent, 3 percent and 6 percent respectively over the quarter.
Geostrategy
Turkey broadens grain deal talks ahead of Putin-Erdogan meet
Ankara, Turkey -- Turkey intensified talks with Ukraine, the United States, and the European Union on the grain deal in...
- Various Turkish ministries have held talks with the US, EU and Ukraine in preparation for the possible Putin-Erdogan meeting.
- Turkey's Milliyet newspaper reported that Putin will visit Turkey "in the coming days."
Geostrategy
Money laundering: UAE seizes $1bn, arrests 387 people in 2 years
Abu Dhabi, UAE -- More than AED 4 billion ($1.08 billion) were confiscated during the past two years by UAE's...
- Between Nov 2022 to Feb 2023, intelligence was shared in a total of 1,628 instances with international collaborators.
- These collaborations encompass various communication channels, including INTERPOL, Europol, the Gulf Police Authority, AMON International Network.
Geostrategy
US special Yemen envoy Lenderking’s Gulf tour to push for longer truce
"The United States is committed to supporting a resolution to the Yemen conflict as soon as possible. We are working...
- Tim Lenderking will meet with Yemeni, Saudi, Emirati, Omani and international partners to discuss the necessary steps to secure a durable ceasefire.
- He will also congratulate Yemeni, UN, and international partners on the successful operation to offload over 1.1 million barrels of oil from the FSO Safer supertanker.
Business
ADNOC, Tabreed say breakthrough in project to harness geothermal energy
ABU DHABI, UAE – ADNOC and the National Central Cooling Company (Tabreed) on Monday announced a breakthrough following the conclusion...
- The landmark project, the first in the Gulf region, is set to decarbonize the cooling of buildings in Masdar City.
- The project will further diversify the UAE’s energy mix and support the National Energy Strategy 2050.
Business
RSG, Zain build carbon-neutral 5G network
The network runs on clean energy from world's largest carbon-neutral grid.
- This is made possible through the utilization of more than 750,000 solar panels, as well as through the implementation of purpose-designed towers for this network.
- RSG is the multi-project developer behind the ambitious regenerative tourism destinations, The Red Sea and Amaala.
Business
TAQA H1 net income $3.67bn
The group revenues were AED 26.8 billion, 5% higher than H1,2022.
- The higher revenues were attributed primarily to higher pass-through bulk supply tariffs and transmission use of system within the Transmission and Distribution segment.
- The company announced second interim cash dividend for the year of 0.65 fils per share (approximately AED731 million).
Business
UAE ranks first globally in employing Indians, Saudi second: Minister
New Delhi, India -- The UAE ranks first among the countries in the world in the employment of Indians, currently...
- Taken together, five Gulf countries -- UAE, Saudi Arabia, Kuwait, Qatar and Oman, in that order -- are among the top destinations providing employment for Indians.
- The number of Indians in the UAE last year was 3.419 million and more than 134,000 were added in one year, India's Minister of External Affairs told parliament.
Decree issued to form Board of Dubai Corporation for Ambulance Services
Dubai, UAE -- Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum Monday issued a decree for the formation of the...
Business
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GASCO 9M 2023 profit up 16%
Business
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SCC 9M net profit $73m
Business
PIF seeks to increase stake in Egypt’s e-Finance by 2 percent
Riyadh, Saudi Arabia -- Ibrahim Sarhan, the Chairman and Managing Director of e-Finance for Digital & Financial Investments based in...
Business
EDGE bags $1.1bn UAE defense ministry munitions contract
Dubai, UAE -- EDGE, one of the world's leading advanced technology and defense groups, announced that it bagged an AED...
Business
Emirates, Safran sign pacts worth $1.2bn
Latest generation Safran Seats for new Emirates Airbus fleet part of the deal.
Business
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Business
US$3.2bn worth deals signed on first two days of Dubai Airshow 2023
DUBAI, UAE – Tawazun Council announced the signing of 11 deals, worth US$1.8 billion (AED 6.9 billion), with local and...
- The biggest contract- worth US$898 million was awarded to a company to procure an air defense system.
- The second largest local contract, worth US$200 million was signed for aircraft maintenance services.
Business
ADNOC Gas net income $3.37bn
The company's third-quarter revenue grew by 8% to $5.80 billion.
- Net income for the quarter increased by 13 percent quarter-on-quarter (Q-o-Q) to $1.116 billion.
- ADNOC Gas expects to pay its inaugural interim cash dividend of $1.625 billion with payments commencing on 14 December 2023.
Geostrategy
Qatar, UAE condemn Israeli attack on Gaza committee building
Doha, Qatar -- Qatar has strongly condemned the Israeli shelling of the Qatar Committee for the Reconstruction of Gaza's headquarters,...
- The incident, viewed as an extension of the occupation's pattern of targeting civilians and civilian infrastructure, has sparked international outrage, Qatar said.
- The United Arab Emirates (UAE) joined Qatar in denouncing the attack and emphasized the immediate need for a ceasefire.