Lapita sees surge in leisure and wedding bookings in 2023
Dubai, UAE--Lapita, Dubai Parks and Resorts, has reported a surge in demand, bookings from across leisure and corporate segment last...
Business
Alibaba Cloud opens training center in Dubai
It will be a hub for customers to lift up "digital competence."
Business
Business
Bitcoin crosses $45,000 for first time since April 2022
Dubai, UAE--Bitcoin stormed above $45,000 on Tuesday for the first time since April 2022. Bitcoin touched a 21-month peak of...
- It reached a 21-month peak of $45,532, having gained 156% last year in its strongest yearly performance since 2020
- Expectations that major central banks will cut interest rates this year has also been a boon for cryptocurrencies
Business
UAE to press firms with 20-49 staff to hire at least one Emirati in 2024
Dubai, UAE--The UAE's Ministry of Human Resources and Emiratisation (MoHRE) has started implementing the cabinet decision to expand the scope...
- The Ministry of Human Resources and Emiratisation notified more than 12,000 companies to comply with the decision, providing them sufficient time to meet their required targets
- The ministry said it will continue to hold training workshops to educate companies subject to the decision about the procedures to follow in order to meet their required targets
Business
Gupco begins pumping oil in Egypt
The production started at the first well in the Gulf of Suez.
- Egypt's petroleum minister said the project first phase aims to reach 6,000 barrels per day by mid-January
- The completion of the second well is expected by mid-January to raise production to targeted levels
Business
New investors throng Dubai Financial Market to open accounts
Dubai, UAE--Brokerage firms at the Dubai Financial Market (DFM) opened 57,054 new investor accounts in 2023, marking a significant increase...
- The expansion in the growth resulted from the listing of the government and semi-government companies and also rising popularity of online trading
- The brokerage firms numbering 29 on the bourse executed over 3.83 million transactions in 2023, a 32.7% increase compared to 2022's 2.88 million
Business
Iran-Azerbaijan trade registers 46 percent jump in 2022
Tehran, Iran-- Trade between Iran and Azerbaijan has registered a 46 percent jump in 2022, according to the deputy prime...
- The deputy PM was speaking at the inauguration ceremony of the new Astara-Astara border bridge
- He said the two countries would see significant growth in the transit sector in the coming years
Geostrategy
New Year celebrations in GCC tempered by Gaza war
In Dubai and Abu Dhabi, lights and fireworks illuminated the skies as international tourists soaked up the celebratory scenes. The...
- Sheikh Zayed Festival put on display the region's largest firework lasting 40 minutes
- Across Dubai, the hotels reported occupancy rates soaring above 90 percent
Business
Visitors flock to Sheikh Zayed Festival, boosting exhibitors’ sales
Abu Dhabi, UAE--Sheikh Zayed Festival is witnessing a large public turnout from citizens, residents and tourists from all over the...
- The Heritage Village saw a huge crowd of visitors buying products made by Emirati families, boosting the businesses and industries
- Visitors can avail discounts on a wide range of products across all pavilions and sections, in addition to having new food experiences
Geostrategy
UNSC committee adopts guiding principles on use of UAS for terrorist purposes
NEW YORK, US – The Counter-Terrorism Committee (CTC) of the UN Security Council adopted the "Abu Dhabi Guiding Principles" and...
- The document is the first of its kind at the United Nations to address the increasing challenges posed by UAS in the context of counter-terrorism.
- As the current chair of the Counter-Terrorism Committee, the UAE facilitated this crucial initiative, reflecting its commitment to global peace and security.
Business
GCC Commercial Arbitration Centre to use AI in its operations
Manama, Bahrain-- The GCC Commercial Arbitration Centre has started to harness AI techniques, according to its secretary general, Dr. Kamal...
- The initiative aligns with the prevailing trends of leveraging technologies in digital transformation and fostering development across diverse sectors
- Al Hamad said that around 92 percent of legal institutions and judicial bodies in the world plan to increase their use of AI in legislative and legal case analysis
Business
Bahrain kicks off roadshow in China to boost tourism sector
Manama, Bahrain--The Bahrain Tourism and Exhibitions Authority (BETA) began a roadshow in Shanghai and Guangzhou, China, involving prominent travel, tourism,...
- The roadshow n China looks to promote Bahrain as a prominent tourist destination in regional and global markets
- BETA tied up with the private sector to create distinctive tourism products that contribute to boosting the economy
Lapita sees surge in leisure and wedding bookings in 2023
Dubai, UAE--Lapita, Dubai Parks and Resorts, has reported a surge in demand, bookings from across leisure and corporate segment last...
Business
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Ford halts shipment of F-150 EVs
Business
WTO conference ends with acceptance of Abu Dhabi Declaration
Abu Dhabi, UAE--The 13th Ministerial Conference (MC13) of the World Trade Organisation (WTO) has concluded with the acceptance of Abu...
Economy
Masdar completes acquisition of 49% stake in Dogger Bank South project
Abu Dhabi, UAE--Masdar, the UAE’s clean energy powerhouse, has completed its acquisition of a 49 percent shareholding in the 3...
Economy
UAE and Russia look to deepen parliamentary cooperation
Abu Dhabi, UAE-- The UAE and Russia have held talks to enhance the parliamentary cooperation between the two countries. In...
Geostrategy
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Business
Egypt signs several MoUs with global developers in renewable energy
Cairo, Egypt--Egypt has signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global...
- The agreements to set up geen hydrogen projects represent a new step or the Sovereign Fund of Egypt in its partnerships with global companies
- The green projects are expected bring in investments of $12bn for the pilot phase and $29bn for the first phase, for a total of $40bn over 10 years
Economy
UAE presses for ‘sustainable development policies’ at BRICS meeting in Brazil
Sao Paulo, Brazil-- The UAE has affirmed that it collaborates with the BRICS nations in order to establish sustainable development...
- Al Hussaini said the UAE aims to boost cooperation between emerging and developing economies and set up governance frameworks on a global level
- The minister said they expect more fruitful collaboration among the group’s nations, which are increasing in importance and role in international affairs
Business
QDB signs MoU with Global Ventures
The collaboration is expected to boost private sector in Qatar.
- The two agreements align with the bank's initiatives to bolster the private sector and create investment opportunities
- The collaboration will enhance the provision of training programs and field training to equip investors and fund managers