UAE backs Egypt’s Ras El Hekma megaproject, aims for $110 billion investment
Abu Dhabi, UAE - The UAE Ministry of Investment (MoI) announced today its support and key role in the advancement...
Business
United by innovation and progress: The enduring US-UAE partnership
‘’In close partnership, we are working to advance multilateral diplomatic solutions and provide urgently needed humanitarian assistance in Gaza and...
Business
Expo Center Sharjah wraps up successful Paper One Show
SHARJAH, UAE - Expo Center Sharjah (ECS) wrapped up the eighth edition of Paper One Show on a high note....
- The exhibition managed to cement Sharjah's leading position as one of the key regional events specialized in the paper industry.
- There was an increase of 60 percent in the exhibition over the previous edition in the number of participating companies.
Geostrategy
UAE, Algerian ministers discuss enhancing bilateral cooperation
ABU DHABI, UAE - UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan and Algerian...
- UAE, Algerian ministers reviewed ways to advance cooperation in areas that contribute to sustainable economic growth.
- The two ministers discussed UAE's hosting of the 28th session of the Conference of the Parties (COP 28) this year.
Economy
Qatar’s 2022 budget surplus grows 5462%
The surplus for Q4 2022 was 3.18 billion, compared to a deficit of $0.90 billion in the same quarter of...
- The surplus for Q4 2022 was 3.18 billion, compared to a deficit of $0.90 billion in the same quarter of 2021
- Total revenues for the quarter came in at$18 billion, compared to $14 billion in the same period last year
Business
Bayanat, Yahsat partner to develop space programme for earth observation capabilities
The MoU brings together Bayanat’s expertise in remote sensing capabilities and data analytics, and Yahsat’s proven capabilities spanning satellite space...
- The MoU brings together Bayanat’s expertise in remote sensing capabilities and data analytics, and Yahsat’s proven capabilities spanning satellite space technology
- The strategic partnership was announced at IDEX 2023 and is aimed at establishing and operating strategic earth observation partnership within the UAE
Economy
UAE, Egypt, Jordan, Bahrain to announce joint industrial projects worth millions of dollars
The third meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development will take place in Jordan's...
- The third meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development will take place in Jordan's capital Amman
- The member states will collaborate to grow their respective industrial sectors by integrating resources and industries and leveraging competitive advantages
Business
Masdar-built solar plant in Azerbaijan to begin operations in 2023
In June 2022, Masdar announced the signing of several agreements with the Ministry of Energy of Azerbaijan to develop clean...
- The plant will help generate 0.5 billion kilowatts per hour (KW/hour) of electricity annually, sufficient to meet the needs of over 110,000 homes.
- In June 2022, Masdar announced the signing of several agreements with Azerbaijan to develop clean and renewable energy projects with 4,000MW capacity.
Business
ADNOC Gas IPO offer price range
The subscription period opens on February 23.
- The Abu Dhabi National Oil Company expects to sell 3,070,056,880 ordinary shares, representing approximately 4 percent of the Company’s issued share capital
- The subscription period for the Offering opens on February 23, and will continue until Wednesday, March 1, for the UAE Retail Offering.
Geostrategy
Japan to expand cooperation with Jordan to achieve regional stability: envoy
The envoy made these remarks during a ceremony at the Japanese embassy in Amman while celebrating Japan's national day.
- The envoy made these remarks during a ceremony at the Japanese embassy in Amman while celebrating Japan's national day
- Speaking on the Palestinian issue, he stated that Japan started providing assistance to UNRWA in 1953, even before the country became a UN member
Geostrategy
Putin signals XI to visit Moscow, Washington voices concern
Russian president said that he realized China has its own domestic political agenda and that the two countries were working...
- Russian president said that he realized China has its own domestic political agenda and that the two countries were working to sort out all related issues
- China has recently come under Western and US criticism for providing military aid to Moscow, amid Beijing's denial of these accusations
Business
EDGE to supply intelligence capabilities to the UAE armed forces in $1bn deal
Announced at the International Defence Exhibition and Conference (IDEX 2023), the contract will be executed over four years.
- Announced at the International Defence Exhibition and Conference (IDEX 2023), the contract will be executed over four years
- Launched in November 2019, EDGE converges R&D, emerging technologies and commercial market innovations with military capabilities
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UAE backs Egypt’s Ras El Hekma megaproject, aims for $110 billion investment
Abu Dhabi, UAE - The UAE Ministry of Investment (MoI) announced today its support and key role in the advancement...
Business
Company News
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Fertiglobe Q3 revenue of $525m
Business
UAE farm harvests $5.6m from carbon credits in eco-friendly agriculture triumph
Dubai – An innovative agricultural project in the United Arab Emirates, has generated $5.6 million euros from carbon credit sales. The...
Business
India’s L&T secures EPC contract for Saudi Arabia’s Amaala project
New Delhi, India - Larsen & Toubro (L&T) secured a major Engineering, Procurement, and Construction (EPC) contract for the Amaala...
Business
Dubai real estate sales near record $109bn in 2023
Dubai, UAE - Dubai real estate annual sales comprising 127,000 deals have exceeded Dhs400 billion ($109 billion) during the current year...
Economy
Most Read
Saudi Chemical Co announces dividend
The company will distribute $11,385,120 to its shareholders.
- Shareholders possessing a portion of the 843,200,000 shares eligible for dividends will benefit from this payout
- Each share is set to receive a dividend of 0.05 SAR, which represents a 5% dividend relative to the share par value
Business
GIB, KSA wrap up Sukuk debut
Gulf International Bank is a merchant bank in the Middle East
- The bank’s Sukuk programme is aligned with its strategic objectives to facilitate balance sheet growth and contribute to the realization of the national economic objectives
- GIB Capital’s CEO Osamah Shaker said that the bank is delighted to act as the sole arranger for the establishment of the Sukuk Programme and the Bank’s debut issuance
Business
KPMG’s global revenue touches $36bn
The company has outlined a collective investment of $4.2b.
- The announcement came in after KPMG International declared the annual globally aggregated revenues for KPMG firms of US$36b for FY23
- The financial figures highlight robust year-on-year growth of the company, reinforced by a multi-disciplinary approach