Tunisian president emphasizes need to bolster security in Arab societies
Tunis, Tunisia--Tunisian President Kais Saied on Monday stressed the need to reach an approach that contributes to enhancing the security...
Geostrategy
China discovers world’s largest metamorphic rock oilfield in Bohai Sea
BEIJING, CHINA – The China National Offshore Oil Corporation (CNOOC) has announced the recent discovery of the largest metamorphic rock...
Business
Business
Renewable power capacity to rapidly expand, IEA report reveals
PARIS, FRANCE - Renewable power capacity is expected to jump by a third this year globally as growing policy momentum,...
- Renewables are at the forefront of Europe’s response to the energy crisis, accelerating their growth there.
- New policy measures are also helping drive significant increases in the United States and India over the next two years.
Business
AD Ports signs MoU with Abu Dhabi Residents’ Office to lure talent
Abu Dhabi, UAE--AD Ports Group has signed a memorandum of understanding (MoU) with Abu Dhabi Residents Office (ADRO) to promote...
- Both the entities will develop a strategy on guiding relevant parties and employees about the benefits of the Golden Visa residency program
- The holders of Golden Visa will have access to exclusive offers and services, availabe across the different clusters and subsidiaries of AD Ports Group
Economy
UAE is a reliable trade partner: Iranian foreign minister
Tehran, Iran-- Terming the UAE as a reliable trade partner, Iran's Foreign Minister Hossein Amir Abdollahian said bilateral between the...
- The Iranian foreign minister made the remarks during a meeting with Khalifa Shaheen Al Marar, Minister of State of the UAE
- Abdollahian said that ties between the two countries are strengthening at both the government and private sector levels
Economy
Dubai holds trial of drone delivering medicine in public-private sector tie-up
Dubai, UAE--Dubai held the first trial of medical delivery by drones at the Dubai Silicon Oasis (DSO), in yet another...
- Fakeeh University Hospital, with the completion of the trial, becomes the first healthcare provider in the Middle East to leverage drone technology for medication delivery
- The test was conducted within a 10-kilometre radius, carrying medication from the hospital to a patient's home in Cedre Villas project in Dubai Silicon Oasis
Economy
UAE government launches chatbot allowing users to access information on services
Dubai, UAE-- The UAE government has launched an AI-powered chatbot that allows users to access information about government services in...
- The chatbot deploying generative AI technology will let users to access information about services, including service requirements, and direct links for applications
- Designed to address a wide range of inquiries and requests, the platform will provide comprehensive answers, including basic information and ways to apply for services
Business
Dubai records 27 million taxi rides taken in first quarter of 2023
Dubai, UAE-- Some 27 million taxi rides were undertaken in Dubai in the first three months of 2023, up one...
- According to RTA, the high amount of taxi journeys in the first quarter of the year is the highest since 2019, before the outbreak of the Covid-19 pandemic
- The authority said the review of figures suggest that the economy of Dubai is thriving, cementing its standing as a prominent global hub for investment and tourism
Business
Dana Gas to hike its foreign ownership limit to 100 percent
Sharjah, UAE--With an aim to bolster the country's capital markets, the Sharjah-based company Dana Gas has revealed that it will...
- Listed on the Abu Dhabi Securities Exchange, the firm said that it had secured the approval of the regulatory authorities ro raise the percentage of ownership from 49% to 100%
- The company's chairman said the decision will bolster the UAE's vision of strengthening its dynamic capital markets by attracting greater numbers of international investors
Business
Meeza to offer 50% shares in IPO
The company will follow it up with a listing on QSE.
- Meeza, in a statement, said that it will offer 50 percent of the shares, 324.49 million, at an offer price of QR 2.17 per offer share
- Before the offering, it doled out 37.41% of the offer shares to a set of qualified investors according to the book building mechanism
Business
DP World partners with Standard Bank to expand trade finance in Africa
Dubai, UAE-- In order to fulfill demand for working capital in Africa, DP World has partnered with Standard Bank, the...
- Companies across the continent can now borrow working capital from Standard Bank through the DP World Trade Finance platform
- The group chairman of DP World said Africa is a key market for the company and the partnership will strengthen development in Africa
Economy
DEWA commissions water reservoir built at cost of US$42.85mn
Dubai, UAE-- In order to increase Dubai's water security and keep pace with the increase in demand, Dubai Electricity and...
- Built at a cost of US$42.85 million, it has a storage capacity of 60 million imperial gallons (MIG) and will take care of any rise in demand for water
- Saeed Mohammed Al Tayer, MD and CEO of DEWA said sound scientific planning has helped DEWA keep pace with the growing demand for water in Dubai
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Tunisian president emphasizes need to bolster security in Arab societies
Tunis, Tunisia--Tunisian President Kais Saied on Monday stressed the need to reach an approach that contributes to enhancing the security...
Geostrategy
Company News
Dubai Investment posts profit
Business
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Arab Union for International Exhibitions & Conferences approves 2024 plan
Sharjah, UAE--The board of directors of the Arab Union for International Exhibitions Conferences (AUIEC), operating under the Council of Arab...
Business
Saudi, Iran top diplomats discuss bilateral ties, Gaza ceasefire
Tehran, Iran-- Saudi Arabia and Iran's foreign ministers have stressed the need for an immediate ceasefire in Gaza and sending...
Geostrategy
Most Read
Business
Nasdaq Dubai lists Philippines ‘ROP Sukuk Trust’ worth US$1bn
Dubai, UAE--Nasdaq Dubai has welcomed the first Sukuk listing by the Republic of the Philippines, "ROP Sukuk Trust", underscoring the...
- By listing sukuk on Nasdaq Dubai, the Philippines government intends to deepen its partnership with the GCC region
- The emirate of Dubai is recognised as one of the world's largest centres for sukuk issuances, with a total of US$87.61 billion
COP28 UAE
Expo City Dubai and Japan’s UMI sign MoU to support startups
Dubai, UAE--Expo City Dubai and Universal Materials Incubator (UMI), a Japanese venture capital firm, have teamed up to identify and...
- With the signing of the agreement, the two sides consolidated their partnership in innovation, economic growth and sustainable development
- By joining forces, they will facilitate and host networking events, workshops and specialised training programmes to help startups scale and grow
Economy
Inter Miami to play two ‘friendlies’ in Saudi Arabia next year
Miami, United States--Inter Miami on Monday confirmed details of two upcoming friendlies in Saudi Arabia next year which will include a...
- Inter Miami would take on Saudi powerhouses Al Hilal at the Kingdom Arena in Riyadh on January 29
- On February 1, they will face Al Nassr, giving Messi the chance to lock horns once again with Ronaldo