NYUAD and Dolphin Energy sign agreement to boost research into climate change
Abu Dhabi, UAE--A unique national capacity-building fellowship model offering outstanding Emirati graduates the opportunity to gain experience in a cutting-edge...
Science
Business
Nakheel, Meydan join Dubai Holding
The Board of Directors of both Nakheel and Meydan will be abolished.
- Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum directed the two to merge under Dubai Holding under the leadership of Sheikh Ahmed bin Saeed Al Maktoum
- He said the goal is to create a more financially efficient entity, owning assets worth hundreds of billions, and comprising global expertise across various sectors
Business
Dubai receives 1.77m international tourists in January this year
Dubai, UAE--Dubai welcomed 1.77 million international tourists in January 2024, an increase of 21% compared to 1.47 million visitors in...
- Tourists from Western Europe ranked first with 327,000 visiting the emirate in January
- Some 311,000 travelers from the GCC countries visited Dubai in the same month
Business
ADNEC to organize first Bitcoin MENA Conference in Abu Dhabi
Abu Dhabi, UAE--ADNEC Group has announced the launch of the region's first Bitcoin MENA Conference 2024 set to take place...
- The even will be co-organised by Capital Events and BTC Inc., the parent company of Bitcoin Magazine and the Bitcoin 2024 conference
- The hosting of the conference marks a significant milestone in the world's largest Bitcoin conference’s expansion into the MENA region
Business
Thousands of international companies join Dubai Chamber of Commerce in 2023
Dubai, UAE--A study undertaken by Dubai Chamber of Commerce has revealed that Indian investors topped the list of nationalities of...
- Some 15,481 new Indian-owned companies became members in 2023, representing year-over-year (YoY) growth of 38 percent
- Pakistan ranked second in terms of new company memberships in 2023, with the chamber welcoming 8,036 new businesses in 2023
Business
UAE records more than 25% growth in international card spending in 2023
Dubai, UAE--Total spending using international cards in the UAE witnessed a growth of more than 25% during the year 2023....
- Transactions via cards and digital payment solutions in the Middle East and North Africa surged by 20% in value and over 50% in volume
- A study found that Middle Eastern consumers are increasingly prioritising sustainability, with 9 out of 10 adults willing to take action
Economy
UAE financial system more secure and efficient than before, says CBUAE
Abu Dhabi, UAE--The technological and structural advancements in the UAE financial sector continues to enhance security, operational efficiency, accessibility of...
- According to a CBUAE report, the UAE financial system is more secure because of the implementation of technology throughout the economy
- The number of locally incorporated banks (excluding investment banks), at the end of the fourth quarter of 2023, remain constant at 22 banks
Geostrategy
Israeli air strikes in Lebanon’s city of Baalbek kill one
A security source said Israeli aircraft targeted a former Hizbollah building near Dar Al Amal Hospital, adding that Israel "conducted...
- The governor of the Baalbek-Hermel region, Bachir Khodr, also said a man had been killed in the strikes near Baalbek in a post on social media platform X
- The city of Baalbek in the Bekaa valley is a Hezbollah bastion, bordering Syria
Economy
UAE construction market soars to $94bn in 2023
Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of...
- According to a report, the growth is attributed to the increase in investments in transport and renewable energy infrastructure
- The report added that residential construction captured the highest share of the UAE's construction market last year
Business
Abu Dhabi launches technology investment company MGX
ABU DHABI, UAE – The Artificial Intelligence and Advanced Technology Council (AIATC) announced on Monday the creation of MGX, a...
- Mubadala and G42 will serve as foundational partners in the creation of the new company.
- MGX will invest to accelerate the development and adoption of AI and advanced technologies.
Economy
UAE and Greece hold talks to widen economic cooperation
Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues...
- Al Jaber held several bilateral meetings with Kyriakos Mitsotakis, PM of Greece, George Gerapetritis, Minister of Foreign Affairs, and Kostas Skrekas, Minister of Development
- The two sides discussed means of fostering cooperation within the UAE-Greece CEPA agreement, signed during the visit of the Greek PM's to the UAE in 2020
Company News
Omantel approves cash dividend
Business
Latest News
Amanat FY 2023 revenue $195m
Business
UAE and Kenya sign agreement to enhance digital, tech cooperation
Abu Dhabi, UAE--The UAE and Kenya have signed an investment memorandum establishing a framework for investment cooperation in digitalisation and...
UAE earns first spot in Global Entrepreneurship Monitor 2024 report
Abu Dhabi, UAE-- The United Arab Emirates has been ranked first globally for the third consecutive year in the Global...
Business
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Business
Abu Dhabi Chamber and UAEIIC team up to boost investment
Abu Dhabi, UAE--The Abu Dhabi Chamber of Commerce and Industry has signed an agreement with the UAE International Investors Council...
- The two entities will ensure the growth of investments in the region and across the world to promote Abu Dhabi as an investment destination
- They will work together to assess growth opportunities in strategic priority markets, provide consultations, and share studies and information
Business
Investcorp Capital names new CFO
Rohit Nanda, the new CFO, will take up his new job next month.
- Nanda before his new appointment was the head of Operations and head of Investment Structuring and Business Support, Asia, at Investcorp
- He is a chartered accountant, holding a master's degree in science with a specialization in finance from the London School of Economics
Business
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...
- The company saw a noticeable uplift in interest in corporate customers, wedding bookings, and leisure bookings across 2023
- It also hosted over 35 wedding ceremonies and receptions as well as birthdays, with the resort providing the perfect backdrop