NYUAD and Dolphin Energy sign agreement to boost research into climate change
Abu Dhabi, UAE--A unique national capacity-building fellowship model offering outstanding Emirati graduates the opportunity to gain experience in a cutting-edge...
Science
ADQ launches new firm in healthcare sector
Arcera will aim to improve the quality of "human life."
Business
Business
Ford halts shipment of F-150 EVs
It will carry out quality checks on pickup trucks.
- The automaker said the shipments were stopped on Feb. 9, but did not say when it expected to resume shipments
- The company began shipping this week the first newly designed gas-powered 2024 model F-150 pickups to dealers
Economy
Qatar Chamber and International Labour Organization look to boost ties
Doha, Qatar--The Qatar Chamber (QC) and the International Labor Organization (ILO) discussed bilateral cooperation relations in the fields of labor,...
- The two sides look to enhance relations in the fields of labour, research, training, and ways to achieve the common interests
- Al Mansori noted the chamber's preparedness to collaborate with the ILO, praising its significant role in labour-related matters
Economy
China home prices edge down in January, data shows
Beijing, China--Major Chinese cities reported falling home prices in January with narrowing declines, official data showed on Friday. The National...
- According to the National Bureau of Statistics, 56 of 70 large and medium-sized cities saw month-on-month drops in new home prices
- In Shanghai, Guangzhou and Shenzhen, prices of new homes fell 0.3% in January with the decline narrowing by 0.1 percentage points
Economy
Jordan, Oman sign agreements to ramp up investments
Amman, Jordan--Jordan and Oman have signed a raft of agreements to boost direct investment in both the countries. The first...
- In 2022, Jordan exported $70.2 million worth of goods to Oman, while Jordan imported $57.4 million worth of goods from Oman
- The agreements between the two countries aim to establish partnerships for investment and trade between the two business sectors
Economy
Dubai economy would grow 5 percent this year: Al Ghurair
Dubai, UAE-- The economy of Dubai would grow around five percent this year, according to Abdul Aziz Abdulla Al Ghurair,...
- Al Ghurair said that the recent increase in interest rates would be reversed soon, leading to a decline in lending rates
- He said high interest rates, reaching up to 5 or 6 percent, are still lower than in many countries, supporting businesses
Economy
Bahrain’s central bank treasury bills oversubscribed by 226%
Manama, Bahrain--Central Bank of Bahrain (CBB) announces that the $93 million monthly issue of Government Treasury Bills has been oversubscribed...
- The bills with a maturity of 182 days are issued by the Central Bank of Bahrain on behalf of Bahrain
- The average price for the issue was 97.077%, with the lowest accepted price being 97.032%
Business
Doha Insurance net profit up
The profit jumped to US$41.40m in 2023.
- Its earnings per share for the year ending December 31, 2023 stood at QR0.30, up from QR0.21 for the same period in the previous year
- The board of directors announced its intention to propose a cash dividend distribution to the General Assembly in the upcoming meeting
Business
Korea’s H2O sets up base in Abu Dhabi
It will collaborate with Abu Dhabi Investment Office.
- The move is indicative of deepening economic ties between South Korea and Abu Dhabi with a focus on innovation and technology
- The company's headquarters in Abu Dhabi Global Market (ADGM) will drive the next phase of its international growth out of Abu Dhabi
Geostrategy
Iran oil minister blames Israel for gas pipeline sabotage
Tehran, Iran--Iran said Wednesday that Israel was behind twin sabotage attacks against gas pipelines that disrupted supplies in at least...
- The explosions on February 14 hit pipelines in the cities of Safashahr in the southern province of Fars and Borujen in the southwestern province of Chaharmahal and Bakhtiari.
- The Islamic republic's oil minister Javad Owji told reporters after a cabinet meeting in Tehran that "the explosion of the country's gas lines was the work of Israel"
Business
Dubai food and beverage sector stirs up with investment of US$577m
Dubai, UAE-- The food and beverage sector in Dubai has attracted new FDI worth $577 million from 2019 to 2023,...
- The sector in the UAE generated $16.4bn in retail sales, including fresh food and packaged food
- Last year, consumers across the country spent some $1.1bn on food ordered on e-commerce platform
NYUAD and Dolphin Energy sign agreement to boost research into climate change
Abu Dhabi, UAE--A unique national capacity-building fellowship model offering outstanding Emirati graduates the opportunity to gain experience in a cutting-edge...
Science
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ADX partners with Eureeca
Business
UAE and Egypt presidents hold discussions in Cairo to boost ties
Cairo, Egypt-- UAE's President Sheikh Mohamed bin Zayed Al Nahyan and his counterpart from Egypt Abdel Fattah El-Sisi met in...
Geostrategy
Passenger air traffic has surpassed pre-pandemic levels: ICAO
Montreal, Canada--The International Civil Aviation Organisation (ICAO) projected that passenger air traffic levels will be around 2 percent higher In...
Economy
ENEC and General Atomics to collaborate on use of technology for nuclear energy
Abu Dhabi, UAE--The Emirates Nuclear Energy Corporation (ENEC) today announced that it has signed a Memorandum of Understanding (MoU) with...
Science
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Science
COP hosts UAE, Azerbaijan, Brazil pledge stronger climate action
Paris, France--Past and future hosts of the UN climate negotiations the United Arab Emirates, Azerbaijan and Brazil announced Wednesday they would...
- Countries across the world have been under pressure to keep this warming limit alive by pledging to accelerate their efforts to slash greenhouse gas emissions
- The United Nations climate chief last week stressed that the new round of commitments were essential to keep the world from blowing past 1.5 Celsius
Economy
Saudi Industrial Production Index climbs up in January 2024
Riyadh, Saudi Arabia--The Saudi Industrial Production Index (IPI) recorded 103.3 points in January 2024, compared to 103 points in December...
- As per reports, the sub-index for mining and quarrying activity, which accounts for 61.4% of the index weight, grew by 0.1% to reach 98.2 points in January 2024
- The report added that the sub-index for manufacturing activity, which accounts for 35% of the index weight, grew by 1.1% to reach 113.8 points in January 2024
Economy
GCC central banks hold rates steady, following US Fed
The Central Bank of the UAE kept the Base Rate for the Overnight Deposit Facility (ODF) steady at 5.40%, aligning...
- Both central banks' decisions come after Fed's vote to maintain interest rates at a 23-year high
- The decision is a careful balancing act by the UAE and Qatar aimed at fostering stability and growth