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
Economy
Faster hydrogen production needed for energy transition: WTO
Abu Dhabi, UAE-- In order to speed up the energy transition there must be a fast increase in the production...
- IRENA believes that hydrogen and its derivatives would meet 14% of global final energy consumption in 2050
- Hydrogen generated from renewable power is recognised as a key pillar in replacing fossil fuels and decarbonising sectors
COP28 UAE
UAE to tie up with ACSAD to achieve zero neutrality by 2050
Dubai, UAE--The Arab Centre for the Studies of Arid Zones and Dry Lands (ACSAD) will partner with the UAE's Ministry...
- ACSAD has offered at COP28 several solutions to the problem presented by climate change, including challenges like dealing with water scarcity and food security
- Dr. Homsi said that Arab summits had given ACSAD the task to implement a number of projects, such as the production of wheat varieties resistant to drought, high temperatures
COP28 UAE
ENEC signs MoU with Egypt
They will explore to advance the use of nuclear energy.
- The UAE's nuclear body is focused on strategic investments, research and development, and innovative approaches to cater to the need for clean energy sources
- It is cooperating with local stakeholders to determine deployment pathways, and with international partners for both technology and project collaboration opportunities
Business
Bahrain and Germany look to boost cooperation in health sector
Manama, Bahrain-- Bahrain and Germany have held discussions to boost ties in the health field as the two countries seek...
- Chairman of the SCH, Lieutenant-General Dr. Shaikh Mohammed bin Abdulla Al Khalifa, expressed Bahrain’s interest in developing cooperation with Germany in all fields
- Both the sides pushed for an exchange of specialized medical, technological and technical expertise, training, medical research between the two countries
Business
EU clinches ‘historic’ deal on AI law after long negotiations
The EU's internal market commissioner, Thierry Breton. called the deal as historic, regulating artificial intelligence models such as ChatGPT. Negotiators...
- The commissioner said the AI Act is much more than a rulebook , calling it a launchpad for EU startups
- The EU law will still need to be formally approved by member states and the parliament
Business
UAE’s GCAA signs MoUs with Brazil, Switzerland in air-transportation sector
Riyadh, Saudi Arabia--The General Civil Aviation Authority (GCAA) of the UAE signed two memorandums of understanding (MoUs) with Brazil and...
- The MoUs were signed on the sidelines of the UAE delegation's participation in the fifteenth ICAO Air Services Negotiation (ICAN2023),
- The GCAA chief said the UAE is eager to strengthen cooperation in the field of air transportation with various countries around the world
Economy
Saudi Arabian GDP declines by 4.4 percent in Q3 2023
RIYADH, SAUDI ARABIA - Saudi Arabia’s real gross domestic product (GDP) fell by 4.4 percent year-on-year (YoY) in the third...
- The Kingdom’s GDP at constant prices reached US$191 billion (SAR 719.09 billion) in the third quarter of 2023,
- The real seasonally adjusted GDP eased 3.2 percent quarter-on-quarter (QoQ) in the three-month period.Â
Business
Iran-Russia trade surges 18 percent to US$1.7 billion in 2023
Tehran, Iran--Trade between Iran and Russia has climbed 18 percent to US$1.7 billion in the first eight months of 2023....
- Jumping more than 40 percent up, the weight of trade between Iran and Russia was 3,748 million tons from March to November
- Iran revealed that $616, 326 million worth of goods were exported to Russia, which shows 32% increase compared to the same period last year
COP28 UAE
Egypt to sign agreement on curbing methane emissions
Abu Dhabi, UAE--Egyptian Petroleum Minister Tarek el Molla announced an agreement on laying down a detailed road map for cutting...
- The agreement as per media reports will be signed by the the United States Trade and Development Agency (USTDA) within the framework of the COP28
- The minister said that Egypt supported green hydrogen projects in order to promote North African country's drive to become a green hydrogen regional center
Business
Masdar eyes Europe for growth
It wants to build a supply chain between UAE and Amsterdam.
- It signed an agreement to explore the development of a green hydrogen supply chain between Abu Dhabi and Amsterdam to support Dutch and European markets
- The green fuel is generated with green electricity from renewables like wind or solar, in a process that separates water into oxygen and hydrogen via electrolysis
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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BHP net profit tumbles 86%
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Nintendo shares tumble 8.5%
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Aamal net profit up 5.7%
Business
IHC posts net profit of US$8.97bn
Its revenue jumped to US$16.33 billion, a rise of 17.9 percent.
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...
Business
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...
Economy
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Business
Commercial vehicle sales in China soar 79.6% in January
Beijing, China--China's commercial vehicle sales soared 79.6 percent year on year to 324,000 units in January, according to industry data....
- According to the China Association of Automobile Manufacturers, some 289,000 trucks were sold during this period, a rise of 81.8 percent
- Xinhua News Agency said nearly 35,000 coaches were sold last month, an increase of 63.4 percent compared with the same period of 2023
Economy
Saudi Arabia announces major gas discovery in Jafurah
Riyadh, Saudi Arabia--Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz revealed on Sunday that an additional 15 trillion...
- The Saudi energy minister said that reserves at Jafurah had reached 229trn cubic feet of gas and 75bn barrels of condensates
- The Jafurah gas field, in Saudi Arabia's eastern province, is the largest liquid-rich shale gas play in the Middle East
Economy
Bahrain to support ‘Arab tourism’ in order to boost cultural integration
Manama, Bahrain--Bahrain will support Arab tourism in order to enhance social, cultural and historical integration among Arab people, according to...
- The minister told media the exercise would advance the contribution of the tourism sector to Arab countries’ national development
- She said the kingdom will strengthen its position as an ideal destination for sustainable tourism in light of the diversity of its tourism services