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...
Economy
Economy
UAE and Russia look to boost ties in education, space, scientific research
Moscow, Russia--The UAE and Russia are looking to strengthen the bilateral cooperation in higher education, scientific research, space, and engineering...
- Ahmad Belhoul Al Falasi, Minister of Education, and Valery Falkov, Minister of Science and Higher Education of Russia, held discussions to boost cooperation in many sectors
- The UAE minister visited the Moscow State Technical University, where he saw its research centres and learnt about the latest scientific and engineering tech solutions
Economy
UAE to launch digital-response platform to aid disaster-hit countries
New York, US--The UAE has announced the launch of a new digital response platform that will support disaster-affected countries to...
- The digital-response platform will let disaster-hit countries to communicate what aid is needed, allowing partners to accelerate aid delivery
- The UAE private sector during the last five years has made contributions to the tune of US$ 250 million to humanitarian efforts globally
Economy
Gulf banks to maintain resilience despite challenges, says S&P Global
According to the credit rating agency, a combination of higher interest rates and production cuts by the OPEC is expected...
- The report estimated that the GCC banks will report stronger profitability in 2023
- The rating agency expects Saudi banks to achieve a return on assets of 2.2% in 2023
Economy
70% of jet fuels at EU airports will have to be green by 2050
Brussels, Belgium--On Wednesday, Members of European Parliament (MEPs) approved a new law to increase the uptake of sustainable fuels, such...
- The EU is looking to prod the aviation sector to use sustainable aviation fuels in order to cut emissions
- Sustainable aviation fuels will include synthetic fuels, certain biofuels produced from agricultural or forestry residues
Economy
UAE and Iraq to deepen economic, cultural, energy cooperation
Baghdad, Iraq-- The UAE and Iraq have held discussions to boost economic, investment, educational, cultural, agricultural, food, technological, and energy...
- The officials from both countries discussed deepening economic, investment, educational, cultural, agricultural, food, technological, and energy cooperation
- Khalifa Shaheen Al Marar, UAE Minister of State, noted the importance of utilizing the joint committee meetings to explore new opportunities for reinforcing economic growth
Geostrategy
GCC looks to deepen international ties to resolve conflicts, achieve security
Riyadh, Saudi Arabia-- The Gulf Cooperation Council (GCC) intends to deepen the process of dialogue with the international community in...
- The GCC secretary general made the remarks in a meeting of the North Atlantic Council of NATO and representatives of the partners in the Istanbul Cooperation Initiative
- He said that the potential cooperation between the GCC General Secretariat and NATO, which is considered the largest military alliance in the world, is of paramount importance
Economy
UAE and Germany hold workshop on hydrogen strategies, carbon markets
Abu Dhabi, UAE-- Looking to exchange expertise and explore potential synergies in hydrogen and carbon trading, an industry workshop was...
- The UAE's Ministry of Energy and Infrastructure (MoEI) and Germany's Federal Ministry for Economic Affairs and Climate Action (BMWK) organized the workshop
- During the presentation, the UAE gave a peek into its carbon trading outlook and voluntary carbon markets, as well as showcasing the design of its carbon market
Economy
Ajman records US$1.01 billion in construction contracts in H1 2023
Ajman, UAE-- The value of construction contracts in the emirate has exceeded $1.01 billion during the first half of 2023,...
- The department said the contracts' value rose from the last two years, noting that in 2021 it was $517 million, and in 2022 it reached $571 million
- The emirate provides conducive environment for investment projects, and attracts tourists and visitors from both inside and outside the country
Economy
UAE economic expansion to continue, after posting 3.8% growth in Q1: OPEC
Vienna, Austria--The Organization of the Petroleum Exporting Countries (OPEC) has confirmed that the UAE's economy grew by 3.8 percent in...
- The UAE's economic expansion, according to the OPEC report, will continue, noting that the key sectors of the country's economy have posted significant growth
- The report highlighted the sectors that posted growth were transportation and storage (10.9%), construction (9.2%), and accommodation and food services (7.8%)
Business
Over 3,500 new members register with Ajman Chamber in H1 2023
AJMAN, UAE- The Ajman Chamber of Commerce and Industry (ACCI) has revealed that in the first half of 2023, at...
- The industrial membership in the Ajman Chamber grew by 6.9 percent during the first half of this year compared to the first half of 2022.
- The Ajman Chamber is keen to attract specialized investments in modern industries based on technology and artificial intelligence.
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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...
Economy
Company News
DP World signs MoUs in India
Business
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SAIF Zone signs MoU with Tokai Optical
The Japanese firm will lease a warehouse in the free zone.
Business
Egypt’s wheat and oil reserves sufficient for several months, says minister
Cairo, Egypt-- Egypt has enough reserves of wheat to last it for many months, according to Dr. Ali Al-Moselhi, the...
Economy
Most Read
Business
JADCO, EGG ink MoU on development of agriculture in Saudi Arabia
RIYADH, SAUDI ARABIA - The Ministry of Environment, Water and Agriculture witnessed the signing of a memorandum of understanding (MoU)...
- The agreement involves the transfer and localization of potato seed production techniques in the Kingdom.
- The aim of the collaboration is to support the transformation of local companies into industrial agricultural entities.
Business
Global Islamic finance market to touch US$4.9trn in 2025, says Malaysian official
Hong Kong-- The global Islamic finance market would touch US$4.9 trillion by 2025, according to Yazrin Syakhairi, Malaysian Trade Commissioner...
- The official said the Islamic finance market is seeing significant and rapid growth worldwide, surpassing the size of US$2.2 trillion in 2022
- He said the Islamic finance industry has seen a noticeable growth in the Middle East and the Association of Southeast Asian Nations (ASEAN)
Business
UAE, Malaysia sign MoU to enhance ties in digital-infrastructure sector
Abu Dhabi, UAE-- The UAE and Malaysia have signed a memorandum of understanding (MoU) to boost investment cooperation in the...
- The agreement envisages setting up collaboration by developing bilateral relationships between public and private organisations
- The trade ties between the UAE and Malaysia have climbed up, with non-oil trade volume surpassing $2.22bn in H1 of 2023