Investcorp Capital names new CFO
Rohit Nanda, the new CFO, will take up his new job next month.
Business
Jordan oil imports decline in January, boosting trade balance
Amman, Jordan--Jordan's import bill for crude oil, derivatives, and mineral oils saw a notable decline in January this year, according...
Economy
Business
Nasdaq Dubai lists Philippines ‘ROP Sukuk Trust’ worth US$1bn
Dubai, UAE--Nasdaq Dubai has welcomed the first Sukuk listing by the Republic of the Philippines, "ROP Sukuk Trust", underscoring the...
- By listing sukuk on Nasdaq Dubai, the Philippines government intends to deepen its partnership with the GCC region
- The emirate of Dubai is recognised as one of the world's largest centres for sukuk issuances, with a total of US$87.61 billion
COP28 UAE
Expo City Dubai and Japan’s UMI sign MoU to support startups
Dubai, UAE--Expo City Dubai and Universal Materials Incubator (UMI), a Japanese venture capital firm, have teamed up to identify and...
- With the signing of the agreement, the two sides consolidated their partnership in innovation, economic growth and sustainable development
- By joining forces, they will facilitate and host networking events, workshops and specialised training programmes to help startups scale and grow
Economy
Inter Miami to play two ‘friendlies’ in Saudi Arabia next year
Miami, United States--Inter Miami on Monday confirmed details of two upcoming friendlies in Saudi Arabia next year which will include a...
- Inter Miami would take on Saudi powerhouses Al Hilal at the Kingdom Arena in Riyadh on January 29
- On February 1, they will face Al Nassr, giving Messi the chance to lock horns once again with Ronaldo
Business
ADX and Abu Dhabi Housing Authority sign agreement to boost data exchange
Abu Dhabi, UAE--The Abu Dhabi Securities Exchange (ADX) and the Abu Dhabi Housing Authority signed a service level agreement to...
- The agreement between the two entities is designed to enhance service and improve overall customer experience for Emiratis
- It will simplify the method used for accessing investor data on ADX, benefiting from Abu Dhabi Housing programs with increased efficiency
Business
Silal and MBZUAI sign MoU
The agreement will bring AI innovation to food production.
- The two sides will create a framework for the transfer and commercialisation of research, including support for startups and business spinouts
- The agreement corresponds with the National Strategy for Food Security 2051 to develop a national system based on enabling sustainable food production
COP28 UAE
Protecting nature may avert $2.7trn global economic losses: World Bank
Dubai, UAE-- Protecting nature could avert global economic losses by 2030 of US$2.7 trillion per year, or 2.3 percent annually,...
- Hickey said low-income countries may lose nearly 10 percent of their GDP annually by 2030 if select ecosystem services, such as forests, fisheries collapse
- She said that the loss of nature is at the core of central development challenges, mainly health, inequality, climate change, food security and energy
Business
UAE green bonds and sukuk issuances touch US$4.20bn
According to Mohamed Ali Al Shorafa, Chairman of the SCA Board, the issuance of green bonds and Sukuk is one...
- The chairman of the SCA board applauded the UAE for its commitment to sustainability
- He highlighted the SCA's decision to exempt companies wishing to list from registration fees
COP28 UAE
ITFC looks to ramp up green financing to 30% of its portfolio
Dubai, UAE-- The International Islamic Trade Finance Corporation (ITFC) is looking to ramp up its sustainable and green financing to...
- Sonbol anticipates a big boost in green financing within their portfolios and significant acceleration in this trend in the years to come
- He noted the significance of helping farmers with innovative financial solutions and new technologies so that food security can be ensured
Economy
Doha Forum debates advantages in Gulf-Europe green ties
Doha, Qatar-- Oil and gas producers in the Middle East are assessing "challenges and opportunities" available for their economies to...
- The discussion focused on opportunities for green cooperation between the Middle East and Europe, and the importance of enhancing the cooperation
- The session highlighted opportunities this transformation provides for both regions, such as diversifying their economies and stimulating development cooperation
COP28 UAE
COP28 focused on achieving balanced package in negotiations: Majid Al Suwaidi
Dubai, UAE-- The COP28 Presidency is focused on achieving a balanced package in the negotiations, according to Ambassador Majid Al...
- Al Suwaidi said that food systems are very exposed to the effects of climate change, and "COP28 is proud to be elevating them to the highest level of discussions"
- According to the COP28 director general, the global community has raised $2.5 billion to support the food-climate agenda during the World Climate Action Summit
Investcorp Capital names new CFO
Rohit Nanda, the new CFO, will take up his new job next month.
Business
Company News
ADIB unveils new payment hub
Business
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BHP net profit tumbles 86%
Business
Arab League organizes workshop to discuss BRICS role in MENA region
Cairo, Egypt--The Arab League (AL) on Sunday organized a workshop in Cairo to discuss the role of BRICS for African...
Multiply Group acquires Backlite Media
The buyout is part of its plan to boost media business.
Business
Morocco aims to increase exports by 12% in 2024, says kingdom’s trade minister
Dubai, UAE-- Morocco hopes to increase its exports by 12 percent this year, according to the kingdom's minister of industry...
Economy
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Business
China discovers world’s largest metamorphic rock oilfield in Bohai Sea
BEIJING, CHINA – The China National Offshore Oil Corporation (CNOOC) has announced the recent discovery of the largest metamorphic rock...
- The Bohai 26-6 oilfield is situated approximately 170 kilometers from Tianjin Municipality.
- It has been anticipated that the average daily oil production will surpass 390 cubic meters.
Economy
China pledges to ‘work with all’ for results at Abu Dhabi WTO conference
Abu Dhabi, UAE--China is willing to work with all parties to achieve more pragmatic results at the 13th Ministerial Conference...
- China, according to Wentao, supports efforts such as the restoration of the normal functioning of the WTO's dispute settlement mechanism
- The minister said China also supports the inclusion of the agreement on investment facilitation for development into the WTO's legal framework
Economy
WTO chief economist applauds UAE ‘commitment’ to trade liberalization
Abu Dhabi, UAE-- Applauding the UAE's commitment to trade liberalization, including development of green and digital trade globally, Ralph Ossa,...
- The WTO economist said the UAE is a "natural fit" for hosting the ministerial conference, praising the country's focus on low tariffs and export diversification
- Ossa said the conference is looking to make progress on range of issues such as the reform of dispute settlement system, constraints on subsidies leading to overfishing