UAE bolsters air cargo industry with launch of ‘CARDS’ data platform
Abu Dhabi, UAE--The General Civil Aviation Authority (GCAA) has launched the Cargo Data Reporting System (CARDS), which provides a range...
Business
Saudi Arabia and Bahrain sign road safety, maintenance agreement
Manama, Bahrain--Saudi Arabia and Bahrain have signed a memorandum of understanding to boost road safety and maintenance in the two...
Economy
COP28 UAE
UAE and Turkmenistan pledge to ramp up ties ‘in all fields’
Dubai, UAE-- The UAE and Turkmenistan have agreed to enhance bilateral ties in all fields, particularly in the development sectors,...
- The leaders of the two countries reviewed ways to ramp up bilateral ties between the UAE and Turkmenistan in all fields
- They discussed the COP28 agenda and its role in bolstering international action to address the phenomenon of climate change
COP28 UAE
UAE president and UN chief discuss ‘collective action’ to address climate challenges
Dubai, UAE-- UAE President Sheikh Mohamed bin Zayed and UN Secretary General António Guterres discussed the importance of the conference...
- The UN chief applauded the initiative of UAE president in establishing a US$30 billion fund for global climate solutions
- They also talked on cooperation between the UAE and UN agencies, particularly in supporting world peace and climate action
COP28 UAE
COP28 unveils oil and gas ‘Decarbonisation Charter’ to speed up climate action
Dubai, UAE--The COP28 Presidency Saudi Arabia have launched a landmark Oil and Gas Decarbonisation Charter (OGDC), a global industry charter...
- Around 50 companies, representing more than 40 percent of global oil production, so far have signed on to the OGDC
- COP28 President Dr. Sultan Al Jaber said several oil companies have adopted net-zero 2050 targets for the first time
Business
UAE signs agreements to develop Kazakhstan renewables sector
Dubai, UAE--The United Arab Emirates (UAE) and Kazakhstan signed an agreement outlining a commitment to co-operation in the development of...
- A joint agreement was signed between Masdar, W Solar, Qazaq Green Power and the Kazakhstan Investment Development Fund to develop and implement a 1GW wind project
- The Kazakhstan project enables Masdar to set itself up in Central Asia's largest economy, representing a huge investment in the country’s potential as a major clean energy producer
Business
Abu Dhabi-backed fund takeover of Telegraph triggers UK probe into sale
Dubai, UAE--The UK government has ordered a formal probe into the proposed sale of the Telegraph Media Group to an...
- Earlier this month RedBird IMI announced that it will take control of The Daily and Sunday Telegraph sister newspapers and The Spectator magazine
- The Abu Dhabi-backed investment fund said a $762-million "package of loans" will fully repay the debts owed, allowing the media group to be taken out of receivership
Geostrategy
UAE marks 52nd National Day with parades, shows
Across the country, the festivities will be characterized by performances of Emirati folk arts, cultural shows, police parades, display of...
- Flags will adorn Dubai’s shopping malls, skyscrapers and beaches will be draped in hues of black, red, white and green for Union Day
- The founder’s memorial, a permanent tribute to the late founding father Sheikh Zayed bin Sultan, will mark the country's 52nd Union Day
COP28 UAE
Masdar ties up with RWE in US$14bn investment to develop wind projects in UK
Dubai, UAE--Abu Dhabi Future Energy Company, also known as Masdar, is part of a $14 billion investment into the UK’s...
- The $14 billion investment is expected to shore up the UK economy and also demonstrate the UAE’s long-term commitment to supporting net-zero goals in Britain
- The new project will generate enough power to light up to three million UK homes and is expected to create 2,000 jobs during construction, and a thousand more later
COP28 UAE
World Bank allots 45% of its financing to climate projects
The bank, according to a statement, "is putting to work more than $40 billion", around $9 billion more than previously...
- The bank said that it is helping people to hold off the devastation of climate change
- It has earmarked the financing for the fiscal year that runs from July 1, 2024, to June 30, 2025
Business
Dubai Taxi IPO raises US$315m
It received more than US$41 billion in investor orders.
- The IPO will result in total gross proceeds of approximately US$ 315 million being paid to the Department of Finance, representing the Dubai government
- DTC said the previously announced offering size consists of a total of 624,750,000 shares, equivalent to 24.99% of DTC’s total issued share capital
Economy
UAE and Cuba look to boost economic, energy ties
The discussions between the UAE president and the Cuban president at Expo City Dubai focused on cooperation in various fields...
- The meeting also covered the UN Climate Change Conference (COP28), starting today at Expo City Dubai
- The two leaders exchanged views on regional and international developments and a number of other issues
UAE bolsters air cargo industry with launch of ‘CARDS’ data platform
Abu Dhabi, UAE--The General Civil Aviation Authority (GCAA) has launched the Cargo Data Reporting System (CARDS), which provides a range...
Business
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ADNOC L&S profit spikes 138%
Business
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...
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,...
Economy
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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%