IHC posts net profit of US$8.97bn
Its revenue jumped to US$16.33 billion, a rise of 17.9 percent.
Business
Saudi Arabia announces major gas discovery in Jafurah
Riyadh, Saudi Arabia--Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz revealed on Sunday that an additional 15 trillion...
Economy
Economy
UAE institutional investors should focus on transition investment: NYUAD report
Abu Dhabi, UAE-- In order to advance the United Nations Social Development Goals, the UAE institutional investors should concentrate on...
- The participants in the workshop noted that transition investment can make a significant difference to the global economy and the MENA region
- The event drew a wide array of people like asset managers, researchers and policymakers to share knowledge and best practices on unlocking large-scale investments
Economy
UAE and Malaysia agree to boost cooperation in clean energy
Kuala Lumpur, Malaysia-- The UAE and Malaysia are looking to bolster cooperation in the field of energy, in addition to...
- The two ministers explored collaboration on investment and development in the energy sector and ways to boost capacity of the two countries in the field of sustainable development
- The visiting minister Al Mazrouei noted that the UAE is seeking to form new partnerships with allies in order to shape a better future for the coming generations
Economy
UAE signs MoU with Microsoft, PwC to set up ‘centre for digital excellence’
Dubai, UAE-- The UAE has signed a memorandum of understanding (MoU) with Microsoft and PricewaterhouseCoopers (PwC) to set up the...
- The centre will look to shore up government's digital transformation, enabling government authorities to benefit from the best global practices and modern technologies
- The new entity will explore how advanced technologies affect government work and will also conduct research and development in digital transformation
Economy
DEWA, WeGO discuss cooperation to achieve sustainable development goals
Dubai, UAE--Dubai Electricity and Water Authority (DEWA) is looking to cooperate with World Smart Sustainable Cities Organization (WeGO) in urban...
- The two sides discussed cooperation in urban sustainability, smart technologies and innovative solutions to achieve sustainable development goals
- DEWA CEO underscored the company's plan to achieve the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050
Geostrategy
Oman’s Sultan Haitham and Egypt’s el-Sisi review bilateral ties in Cairo
Cairo, Egypt--Egypt's President Abdel Fattah el-Sisi and Oman's Sultan Haitham bin Tareq reviewed bilateral relations and regional issues in talks...
- The talks between the two leaders are expected to yield several agreements in defense, trade and economic sectors
- Earlier Egypt's president received Sultan Haitham upon his arrival in Cairo, beginning a two-day official visit, his first to Egypt
Economy
Jordan, Iraq to boost trade through Karama border crossing
Amman, Jordan-- Jordan and Iraq have discussed ways to boost bilateral cooperation in order to develop trade through Karama border...
- The agreement to boost trade exchange came in a meeting between Jordanian and Iraqi ministers in Baghdad, in which other sensitive border issues were discussed too
- The Jordanian minister said the kingdom was constantly focusing on expanding joint cooperation in various fields, particularly in security and economic domains
Business
Mubadala continues to advance UAE’s knowledge economy: Sheikh Mansour
Abu Dhabi, UAE-- Mubadala will continue to advance the UAE's knowledge-based economy in a way that contributes to solutions for...
- Sheikh Mansour noted that the year 2022 marked twenty years since the Abu Dhabi government set up Mubadala to advance a national agenda focused on knowledge creation and innovation
- He said Mubadala's philosphy, agility and long-term investment approach have created a vast array of opportunities for Emiratis that did not exist two decades ago
Business
Namibia supports Saudi Arabia’s bid to host Expo 2030 in Riyadh
Riyadh, Saudi Arabia--Namibia has voiced its support for Saudi Arabia's bid to host Expo 2030 in Riyadh.This was announced by...
- Bureau International des Expositions (BIE) Secretary General in March said that Saudi Arabia has presented a ‘strong’ case to host World Expo 2030
- The kingdom aims to host the Expo in Riyadh from October 1, 2030 till March 31, 2031 under the theme “The Era of Change: Together for a Foresighted Tomorrow.”
Business
Gulf Air, Emirates sign deal
The two airlines announced the start of a codeshare agreement.
- To begin with, Gulf Air will apply its code to many Emirates' destinations in Europe and the Far East, thus ramping up the number of routes for its customers
- The deal will enable its premium customers to access Emirates' lounges in Dubai and also combine ticketing, check-in and baggage transfers, beside benefiting from competitive fares
Economy
FAB hosts Chinese businessmen for summit on boosting trade
Abu Dhabi, UAE-- Seeking to deepen the UAE's economic and trade relationship with China, First Abu Dhabi Bank hosted more...
- With investment and trade touching US$330 billion during the last ten years, China has emerged as the Middle East's largest trading partner
- Last year, the bank became the first financial institution from the UAE to open a branch in Shanghai thus pushing trade and investment flows across the region
IHC posts net profit of US$8.97bn
Its revenue jumped to US$16.33 billion, a rise of 17.9 percent.
Business
Company News
France rallies for Gaza, demanding ceasefire
Geostrategy
Latest News
DEWA Q3 revenue soars
Business
UAE green bonds and sukuk issuances touch US$4.20bn
According to Mohamed Ali Al Shorafa, Chairman of the SCA Board, the issuance of green bonds and Sukuk is one...
Business
ITFC looks to ramp up green financing to 30% of its portfolio
Dubai, UAE-- The International Islamic Trade Finance Corporation (ITFC) is looking to ramp up its sustainable and green financing to...
COP28 UAE
Doha Forum debates advantages in Gulf-Europe green ties
Doha, Qatar-- Oil and gas producers in the Middle East are assessing "challenges and opportunities" available for their economies to...
Economy
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Economy
Faster hydrogen production needed for energy transition: WTO
Abu Dhabi, UAE-- In order to speed up the energy transition there must be a fast increase in the production...
- IRENA believes that hydrogen and its derivatives would meet 14% of global final energy consumption in 2050
- Hydrogen generated from renewable power is recognised as a key pillar in replacing fossil fuels and decarbonising sectors
COP28 UAE
UAE to tie up with ACSAD to achieve zero neutrality by 2050
Dubai, UAE--The Arab Centre for the Studies of Arid Zones and Dry Lands (ACSAD) will partner with the UAE's Ministry...
- ACSAD has offered at COP28 several solutions to the problem presented by climate change, including challenges like dealing with water scarcity and food security
- Dr. Homsi said that Arab summits had given ACSAD the task to implement a number of projects, such as the production of wheat varieties resistant to drought, high temperatures
COP28 UAE
ENEC signs MoU with Egypt
They will explore to advance the use of nuclear energy.
- The UAE's nuclear body is focused on strategic investments, research and development, and innovative approaches to cater to the need for clean energy sources
- It is cooperating with local stakeholders to determine deployment pathways, and with international partners for both technology and project collaboration opportunities