Economy
Dubai Customs thwarts 2,600 attempts in last three years to smuggle drugs
Dubai, UAE-- Dubai Customs has scuttled nearly 2,600 attempts during the last three years to smuggle drugs, combating a concerted...
- The traffickers attempted to smuggle 36.76 kilograms of marijuana through the airport, and in another seizure a big haul of 75,000 Captagon tablets was seized
- Dubai Customs has installed a state-of-the-art system at Jebel Ali Customs Center and TECOM allowing for inspection of large vehicles, yachts and containers
Economy
Abu Dhabi approves housing benefits worth US$844mn for 1,807 citizens
Abu Dhabi, UAE-- The emirate of Abu Dhabi has approved the disbursement of housing benefits worth US$844 million to citizens...
- Abu Dhabi Crown Prince Khaled bin Mohamed bin Zayed, and chairman of the Abu Dhabi Executive Council, approved the grant for 1,807 citizens in Abu Dhabi
- Two grants will go toward ready-made housing for low-income individuals worth $272 million, and another for housing loans to citizens worth $571 million
Economy
Qatar to head ICAO’s Technical Cooperation Committee
Doha, Qatar--Qatar has been elected to be the chairperson of the International Civil Aviation Organization (ICAO)'s Technical Cooperation Committee (TCC)....
- ICAO council member states voted Qatar's permanent representative in the council Essa Abdullah Al Malki as the chairperson of the ICAO's TCC
- The TCC is tasked with assisting and advising the council on reviewing ICAO policies on technical cooperation, assistance, training, and operational plans
Business
Iran’s oil exports surge to 1.9 million barrels per day in May
In spite of economic sanctions imposed by the Western governments against Iran, the country has seen its oil exports surge...
- The Islamic Republic has ramped up its crude output to more than 3 million barrels per day, nearly 3 percent of the world's supply
- Iran has been pouring more oil into the global energy market at a time when OPEC+ has lowered the supply in order to shore up the oil market
Business
More than 900,000 passengers to use Abu Dhabi International Airport on Eid
Abu Dhabi, UAE-- Some 900,000 passengers are expected to pass through Abu Dhabi International Airport on more than 5,000 flights...
- Abu Dhabi Airports gave out the projected numbers ahead of an expected uptick in passenger traffic at Abu Dhabi International Airport during the Eid celebrations
- On June 24, and June 25th, and July 2nd airport authorities expect heavy passenger traffic to pass through the emirate's five airports and expect to serve almost 65,000 passengers
Economy
Kuwait’s central bank says broad money supply rises marginally
KUWAIT- Central Bank of Kuwait (CBK) announced that the broad money supply (M2) went up by 0.3 percent last May...
- Local banks' private sector deposits increased by 0.6 percent to settle at $119.4 billion, revealed the CBK's economic research department.
- Local banks' assets fell by 0.1 percent to record $280 billion, while the net foreign assets decreased by 0.2 percent to $34.3 billion.
Economy
Dubai Police and DIB sign agreement to support Bayti initiative with US$5.44mn
Dubai, UAE--The Dubai Police and Dubai Islamic Bank (DIB) have signed an agreement to back the social initiative, "Bayti", with...
- The charitable initiative was launched by Dubai Police and many others to support familes with low income in the construction of homes and furnishing
- DIB's Chief Operating Officer, Obaid Khalifa Al Shamsi, applauded the partnership between the two in executing social projects supporting citizens
Geostrategy
Iran dismisses US claims on Russia’s use of Shahed drones in Ukraine war
Tehran, Iran--Iran’s permanent mission to the United Nations has rejected the claim by the United States and its allies about...
- Iran's mission to the UN said that claims are made to influene the UN head's report on the implementation of Security Council Resolution 2231
- US ambassador to the UN Linda Thomas Greenfiled claimed in a joint statement at the Security Council Stakeout that Iran and Russia were boosting military ties
Economy
Insurance becomes mandatory for foreign vehicles entering UAE
Abu Dhabi, UAE-- The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) has made it mandatory for foreign...
- In order to make it easier for vehicle owners to posses insurance cover, the authorities will provide them with online access to the platform to buy insurance
- The vehicle owners can access the service on the ICP's website or by downloading the "Shory Aber" application available for iOS and Android devices
Science
FANR highlights cybersecurity framework of Barakah nuclear plant in meeting
VIENNA, AUSTRIA - The Federal Authority for Nuclear Regulation (FANR) is taking part in an international conference organized by the...
- In the event participants from 94 countries and seven global organizations discuss measures to protect against cyber-attacks on nuclear facilities.
- UAE's nuclear regulation body has carried out regular inspections of Barakah Power Plant and observed exercises to test the efficacy of cybersecurity plans.
Company News
Dubai Taxi IPO raises US$315m
Business
Latest News
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...
Economy
UAE insurance sector witnessed expansion in 2022: CBUAE
Abu Dhabi, UAE--The insurance sector in the UAE witnessed growth and expansion across various key indicators during 2022, according to...
Business
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Business
Empower, ASHRAE form alliance
They partnered to lead global expansion of the cooling sector.
- The talks touched on improving energy efficiency within the cooling and heating sector, underscoring the importance of shared knowledge
- One of the results that came out of the meeting was the agreement to develop a standardized District Cooling Guide applicable in various countries
Business
DEWA awards pipeline contract
The US$3m-contract is for the laying of GRE pipes in Hatta.
- The contract is part of the pumped-storage hydroelectric power plant that DEWA is currently constructing in Hatta, a first of its kind in the GCC
- The CEO of DEWA said the project supports the plan to develop Hatta and address its social, economic and environmental requirements
Business
UAE stocks generate over US$272m cash flows on Monday
Abu Dhabi, UAE--UAE stocks generated strong cash flows Monday, with market liquidity surpassing $272 million. International Holding Company (IHC) and...
- ADX notched up $241.25 million in liquidity, as compared to the $31.31 million gained by the Dubai Financial Market (DFM), with $56.50
- The market capitalisation of listed stocks reached reached $980 billion on Monday, divided into $792 billion in ADX and AED 676.8 billion in the DFM.