WTO conference ends with acceptance of Abu Dhabi Declaration
Abu Dhabi, UAE--The 13th Ministerial Conference (MC13) of the World Trade Organisation (WTO) has concluded with the acceptance of Abu...
Economy
UAE presses for ‘sustainable development policies’ at BRICS meeting in Brazil
Sao Paulo, Brazil-- The UAE has affirmed that it collaborates with the BRICS nations in order to establish sustainable development...
Economy
Business
AD Ports Logistics signs deal with Acino for freight services
Abu Dhabi, UAE-- AD Ports Logistics (ADPL) has signed an agreement with Acino to provide the Swiss company with global...
- AD Ports Logistics will take advantage of its pharma cold chain capabilities to transport vital medications from Acino's locations to markets in the MENA region
- It offers a whole host of healthcare business solutions comprised of freight forwarding, contract logistics, transportation, and distribution solutions
Economy
Bahrain, UK sign MoU to preserve biodiversity and curb marine pollution
London, UK--Bahrain and the United Kingdom have signed a memorandum of understanding (MoU) on biodiversity and marine pollution. The MoU...
- The agreement will enable the two countries to explore areas of cooperation in monitoring the environment, marine life, biodiversity and safety from pollution
- Both Bahrain and the UK, under the terms of the MoU, will exchange scientific and technical information, visits, training, research and cooperative projects
Business
Iran signs oil contracts worth US$40bn in last 20 months: Javad Owji
Tehran, Iran-- Iran has signed oil contracts worth $40 billion with domestic and foreign companies during the last 20 months....
- The Iranian minister made the remarks at the second ministerial session of the 8th OPEC International Seminar in Austria
- He said Iran was producing 3.8mn barrels of crude oil and gas condensates and more than one billion cubic meters of gas a day
Economy
UAE is focused on uniting parties in a COP that delivers for all: Al Jaber
Dr. Sultan bin Ahmed Al Jaber believes that the Caribbean region will have a key role at COP28 in bringing...
- Al Jaber was addressing the conference of the heads of government of the Caribbean Community (CARICOM) in Trinidad and Tobago
- The minister felt that donor countries need to be nudged in order to deliver the US$100 billion pledge that they made over a decade ago
Economy
Qatar Airways’ profits fall
Its net profit dropped 21% to US$1.21bn in 2022-2023.
- The airline posted profit fall in spite of the rise in revenues to $21 billion and passenger numbers going up 71 percent to 31.7 million for the year
- The carrier flew some 1.4 million fans to Qatar for the World Cup and yet the airline did not give any explanation for the lower profits in the fiscal year
Geostrategy
Iraqi president presses for closer trade and energy ties with Iran
Baghdad, Iraq-- Iraqi President Abdul Latif Rashid has emphasized the need for reinforcing partnership with Iran in the fields of...
- Iraq's president highlighted the importance of forging closer ties with Iran in a meeting with an Iranian delegation visiting Baghdad
- He applauded Iran for the restoration of ties with countries in the Middle East and the resumption of diplomatic relations with Saudi Arabia
Economy
Egypt to pour US$1.8bn into offshore gas exploration program
Vienna, Austria-- Egypt plans to drill new gas wells in the Mediterranean Sea and the Nile Delta as part of...
- According to its petroleum minister, Egypt will develop fields in the Mediterranean Sea, Nile Delta, and Western Desert to boost its production capacity
- The offshore exploration involves companies such as Eni, Chevron, ExxonMobil, Shell and BP, aiming to drill 35 exploratory gas wells until July 2025
Economy
Sheikh Hamdan launches first phase of waste-to-energy project
Making a strong push for transition to a green economy by building a clean energy infrastructure, Dubai saw the launch...
- The world's largest and most efficient plant built at a cost of $1.08 billion features advanced technologies with no adverse environmental impact
- Sheikh Hamdan said Dubai's has speeded up its transition to a green economy and transform itself into one of the world's most sustainable cities
Economy
UAE’s financial advisory market to touch US$239 billion in 2023
Dubai, UAE--The UAE's financial advisory market is expected to reach a market volume of nearly $239 billion by the end...
- In 2023, assets under management in the UAE's wealth management market are forecast to cross US$255 billion, according to data
- According to industry analysts, some 4,500 millionaires will shift to the UAE and take residence in the country on a permanent basis
Business
Bahrain’s EWA invites bids for US$53mn tender to upgrade desalination plant
Manama, Bahrain--The Electricity and Water Authority (EWA) of Bahrain has invited bids for a $53.19 million tender to upgrade the...
- The Electricity and Water Authority said that international companies will need to submit their bids as per the latest international standards
- The upgrade of the Ras Abu Jarjour plant by reverse osmosis from underground wells is expected to extend the life span of the plant by 20 years
WTO conference ends with acceptance of Abu Dhabi Declaration
Abu Dhabi, UAE--The 13th Ministerial Conference (MC13) of the World Trade Organisation (WTO) has concluded with the acceptance of Abu...
Economy
Company News
Latest News
GCC Commercial Arbitration Centre to use AI in its operations
Manama, Bahrain-- The GCC Commercial Arbitration Centre has started to harness AI techniques, according to its secretary general, Dr. Kamal...
Business
Bahrain kicks off roadshow in China to boost tourism sector
Manama, Bahrain--The Bahrain Tourism and Exhibitions Authority (BETA) began a roadshow in Shanghai and Guangzhou, China, involving prominent travel, tourism,...
Business
Dubai to host ‘Arab Strategy Forum’ next week
Dubai, UAE--The Arab Strategy Forum will commence in Dubai on January 3rd, 2024 to debate the intricate political and economic...
Geostrategy
Most Read
Economy
UAE looks to support farmers to boost sustainability of food sector
Dubai, UAE--The UAE leadership places utmost importance on supporting farmers to enhance the sustainability of the agricultural and food sector,...
- The farmers' council looked to identify the needs of the farmers to increase domestic productivity and thereby optimise imports
- The minister said that one of the key goals of the UAE is to make agricultural systems more sustainable and climate-smart
Business
UAE insurance sector assets rise US$3.1bn in 9M 2023
ABU DHABI, UAE - The UAE insurance sector continues to exhibit robust growth, as evidenced by a 9.6 percent increase...
- Central Bank of the UAE data shows that assets rose 3.05 percent from US$1 billion to US$ 34.7 billion between Q2 and Q3 of 2023.
- The UAE's leadership position within the Arab insurance landscape is further solidified by its consistent ranking among the top global performers.
Economy
Abu Dhabi’s non-oil economy expands 7.7 percent in Q3 2023
ABU DHABI, UAE - The Statistics Center - Abu Dhabi (SCAD) has reported a substantial 7.7 percent growth in the...
- The growth is due to the success of Abu Dhabi’s comprehensive strategies aimed at fortifying its standing as a prominent economic powerhouse.
- Preliminary estimates reveal that most of non-oil activities have sustained growth rates, contributing 52.8 percent to the overall economy.