Alibaba Cloud opens training center in Dubai
It will be a hub for customers to lift up "digital competence."
Business
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
Economy
UAE a key player in global financial landscape: NYSE vice-chairman
Abu Dhabi, UAE--The UAE has solidified its stature as a key player in the global financial landscape, through launching economic...
- He believes the UAE’s financial markets have significant potential and flexibility, combined with its continuous commitment to innovation and development
- He said the UAE's commitment to developing its financial infrastructure and attracting foreign investments makes it a significant market in the MENA region
Business
Dubai Financial Market, Nasdaq Dubai, Shanghai Stock Exchange sign MoU
Dubai, UAE--The Dubai Financial Market (DFM), Nasdaq Dubai, and Shanghai Stock Exchange (SSE) have signed a memorandum of understanding (MoU)...
- The MoU will enhance ties between Dubai and China's capital markets, marking a significant milestone in cross-border collaboration
- The two bourses will jointly explore to develop products, introduce companies and issuers to the advantages of each market
Geostrategy
Top Iran and Russia diplomats hold talks, voice concern at ‘confrontation’ in Gaza
Moscow, Russia-- Iran and Russia have held talks over the ongoing Israel's war on the Gaza Strip, expressing "concern over...
- According to the Russian foreign ministry, the top diplomats of the two countries voiced concern over the ongoing "confrontation" in Gaza
- During the talks both the sides underscored the need for an immediate ceasefire and emergency relief aid to be rushed to the civilian population
Geostrategy
Elon Musk’s X supports US student in trouble over posts
Dubai, UAE--Elon Musk’s X has made good on its promise to back users who are being punished for statements they...
- The student, Juan David Campolargo, was found to be violating the university's student code of conduct, according to Campolargo's lawyers
- Musk voiced his support for the college student in a brief post on X, "We will do whatever it takes to support your right to free speech!"
Economy
UAE unveils ‘roadmap’ to reduce food waste by 50 percent
Dubai, UAE--In order to reduce food loss and waste by 50 percent, the UAE has launched Ne’ma Food Loss and...
- The initiative was unveiled at the fourth national dialogue on Food Security organized by the Ministry of Climate Change and Environment with ne’ma
- The minister said the roadmap will be a collective effort to bring down food waste by setting up new social norms, policies across the food ecosystem
Business
UAE holds 19% of global sustainable bonds, says Fitch Ratings
DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues...
- Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues in the region.
- Environmental, social and governance bonds in UAE constitute over 19 percent of the global ESG bond market.
Geostrategy
Turkey FM warns of escalation in nuclear arms race
Tehran, Iran-- Expressing deep concern over Israel's possession of nuclear weapons, Turkish Foreign Minister Hakan Fidan has warned of a...
- Fidan said the failure to denuclearize the region will ramp up the nuclear arms race in the region and the wider world, leading to increased nuclearization in the area
- The foreign minister said the Arab League and the Organization of Islamic Cooperation were playing crucial roles in addressing the Gaza crisis on the international stage
Economy
EDB pledges to expand UAE’s renewables market through easy financing
Dubai, UAE-- With its financing packages for the renewables sector to support the transition to clean and sustainable energy sources,...
- EDB CEO Ahmed Mohamed Al Naqbi said the bank through its financing can help businesses switch to solar-power to reduce emissions
- The bank can offer up to 100% financing with a maximum tenure of 15 years and a two-year grace period for investments in renewable energy
Geostrategy
War in Gaza represents serious setback for efforts to reduce tension: Gargash
Manama, Bahrain-- The ongoing war in Gaza represents a serious setback for the efforts to reduce tension in the region...
- The diplomatic adviser to the UAE president expressed concern that the violence in the Gaza Strip will only fuel further extremism and instability in the region
- He said a two-state solution is the only "viable path" to peace for both the Palestinian and Israeli peoples, and it demands strong and sustained international participation
Economy
UAE receives first batch of patients from Gaza to undergo medical treatment
Dubai, UAE-- At least 15 patients from Gaza arrived in the UAE to receive medical treatment in the UAE's hospitals....
- The initiative is part of the UAE government's resolve to provide medical treatment for 1,000 children from the Gaza Strip who are in urgent need of medical care
- The UAE has sent dozens of planes with 1,400 tonnes of food, medical, and relief supplies, to support endeavors aiming at providing relief in the Gaza Strip
Alibaba Cloud opens training center in Dubai
It will be a hub for customers to lift up "digital competence."
Business
Company News
ADNOC Drilling profit soars 29%
Business
Barwa Real Estate net profit up
Business
Latest News
Nissan profit drops to US$195m
Business
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...
Geostrategy
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,...
Business
Most Read
Economy
China steps up green transition drive to meet carbon-emission goals
Beijing, China--China is moving away from traditionally energy-intensive industrial sectors toward green development across key sectors, in efforts to fulfill...
- According to data, in 2023 a total of 78 steel enterprises completed the full-process ultra-low emission transformation of their production capacity
- Some 5,095 green factories have been established at national level, contributing to over 17% of the total output value of the manufacturing industry
Business
BP to pour US$1.5bn into Egypt oil exploration
It plans to hike investments in the country to US$5 billion.
- Its CEO said the company plans to maximise the benefit from the current facilitation on oil and gas exploration activities in land and sea areas
- The production plans are being stepped up to meet the growing demand of the local market and to support Egypt's endeavours to export the surplus energy
Business
BHP net profit tumbles 86%
Its sales jumped 6% to US$27.2bn in half-year results.
- The company's net profit dropped 86 percent to $927 million as it took a hammering from exceptional items
- The mining giant said last week that it was writing down its Western Australian nickel assets because of a market slide