COP hosts UAE, Azerbaijan, Brazil pledge stronger climate action
Paris, France--Past and future hosts of the UN climate negotiations the United Arab Emirates, Azerbaijan and Brazil announced Wednesday they would...
Science
Bahrain and France sign MoU to boost tourism education
Lyon, France--Vatel Hotel and Tourism Business School Bahrain signed a memorandum of understanding (MoU) with EKLYA School of Business in...
Business
Business
Hamriyah Freezone Authority, Amazon UAE ink pact for logistics center
SHARJAH, UAE - Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics center...
- Once launched, the new center will enable a seamless delivery experience across the Northern Emirates.
- HFZA’s location and over 20 years of Amazon’s technology and operational expertise will enhance convenience for customer orders.
Geostrategy
NY Times probe casts doubt on Israel’s account of Gaza hospital blast
Dubai, UAE--The New York Times's Gaza hospital blast investigation does not conclude in any way who is responsible for the...
- The New York Times asserts that the projectile seen in the Al Jazeera live footage, cited by many as central to the investigation, came from Israel
- The American newspaper's finding does not answer what caused the Al-Ahli Arab Hospital blast in the Gaza Strip, or who is responsible
Economy
Capital flows to emerging markets facing short-term headwinds: QNB
Doha, Qatar--Qatar National Bank (QNB) said that the global macro trends are starting to present short-term challenges to emerging markets...
- QNB said in its weekly analysis that after a span of positive inflow of capital to emerging markets touching US$50bn in January, the flow turned negative since August
- Indicators suggest below trend growth in the Euro area, China and several other EM and as a result the growth gap is expected to further widen in favour of the US versus EM
Geostrategy
UAE and Belgium urge accelerated efforts to ‘restore regional stability’
Abu Dhabi, UAE-- The UAE and Belgium have stressed the importance of coordinating regional and international efforts to protect civilians...
- The call for intensification of efforts to protect civilian lives came in a meeting between UAE's and Belgian foreign ministers in Abu Dhabi
- The two ministers touched on the fighting between Israel and Hamas and efforts to end extremism, violence, and deescalate tensions in the region
Business
Durar launches ‘MASA Residences’ in Ras Al Khaimah worth US$190.58m
RAS AL KHAIMAH -- Durar, a prominent UAE real estate developer, is set to launch MASA Residences, a luxury residential...
- Christie’s International Real Estate Ras Al Khaimah will exclusively handle sales and marketing for the development
- The project marks Durar's entrance into the UAE's northern Emirates and is poised to elevate Al Marjan Island's landscape
Business
Chevron Q3 profit falls
Its earnings fell to US$6.5bn, down from $11.2bn last year.
- Its earnings have dropped from record year-ago levels as crude prices eased and higher costs ate up refining and chemical profits
- The company agreed to buy U.S. rival Hess Corp for $53 billion in an all-stock deal that expands its shale and deepwater oil production
Business
Abu Dhabi International Airport records 29.3% jump in Q3 passenger traffic
Abu Dhabi, UAE--Abu Dhabi International Airport has posted a 29.3 percent jump in passenger traffic for the third quarter of...
- The passenger traffic saw a 29.3 percent increase at the international airport between July and September of 2023
- The emirate's connectivity also expanded, with 119 destinations served from Abu Dhabi International Airport by 24 airlines
Geostrategy
Kuwait calls for turning Middle East into nuclear-free region
New York, US-- Kuwait's permanent envoy to the UN, Tareq Al-Bannai, has affirmed Kuwait's continuous efforts to make the Middle...
- Kuwait envoy Tareq Al-Bannai made the remarks during an event organised by Kuwait's permanent mission to the United Nations
- The ambassador said the responsibility for creating the zone falls on the members in the treaty on the prohibition of nuclear weapons
Business
ADCB profit up 22 percent
The bank's operating income rose 23% to US$3.32 billion.
- The bank said that net interest income rose 8% to $865 million QoQ and 24% YoY while non-interest income of $285 million declined 7% QoQ
- Its CEO said the bank delivered strong growth in the first nine months of the year, with net loan climbing by10% i and sound growth in CASA deposits
Geostrategy
UAE hosts seventh edition of Interpol’s strategic dialogue
Abu Dhabi, UAE--The UAE's Ministry of Interior and the Gulf Police Service hosted the seventh edition of the strategic dialogue...
- The strategic dialogue held in Abu Dhabi facilitated high-level discussions aimed at harmonizing efforts in the face of global threats
- It bolsters the global response to criminal threats and ramps up coordination between Interpol and regional policy and border management organizations.
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COP hosts UAE, Azerbaijan, Brazil pledge stronger climate action
Paris, France--Past and future hosts of the UN climate negotiations the United Arab Emirates, Azerbaijan and Brazil announced Wednesday they would...
Science
Company News
KEZAD to build new warehouses
Business
Ghitha 2023 revenue at $1.2bn
Business
Latest News
UAE economy posts best growth rates in comparison to others: IMF official
Dubai, UAE-- The UAE's economy has recorded the best growth rates in comparison to other economies in the region, according...
Economy
Qatar’s ties with Iran closer than ever: Sheikh Tamim bin Hamad
Doha, Qatar-- Qatar's Emir Sheikh Tamim bin Hamad Al Thani has affirmed that the ties between Qatar and Iran have...
Geostrategy
UAE residents plead for lifestyle changes to save planet
Dubai, UAE-- As many as 81% of people in the UAE say that they owe it to future generations to...
Economy
Most Read
Economy
South Korea presses for enhanced ties with UAE in high tech and AI
Dubai, UAE--South Korea has pressed for boosting cooperation with the UAE in the field of advanced technology and artificial intelligence...
- He affirmed his country's eagerness to explore and exchange digital best practices with the UAE
- Jean said the UAE has attracted Korean experts specialised in AI to enhance knowledge exchange
Business
ADNOC Drilling profit soars 29%
The company's revenue for the year 2023 was US$3.05bn.
- The company's EBITDA for 2023 shot up 20 percent to US$1.483 billion with industry-leading EBITDA margin of 49 percent
- It added 14 new drilling units in 2023, including four lease-to-own land rigs, making it one of the world’s largest fleets of 129 rigs
Business
Al Mal Capital REIT to launch rights issue
The fund has an existing portfolio valued at US$158m.
- Its CEO said the issue is a step in their journey to generate consistent and sustainable value for investors
- The fund has an existing portfolio valued at $158 million, primarily invested in educational assets in the UAE