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
Bahrain to support ‘Arab tourism’ in order to boost cultural integration
Manama, Bahrain--Bahrain will support Arab tourism in order to enhance social, cultural and historical integration among Arab people, according to...
Economy
Business
UAE looks to strengthen economic ties with Central Asian states
Dubai, UAE-- The UAE is keen to strengthen economic ties with the Central Asian states, which offer many investment opportunities.This...
- Dr. Thani bin Ahmed Al Zeyoudi said that the UAE was always exploring new markets, and the KazanForum provided a platform to meet with representatives of Central Asian nations
- He held bilateral talks with several government ministers and officials, focusing on the current economic landscape, areas of mutual interest and opportunities for investment
Business
Aldar raises US$500mn
The 10-year sukuk was priced with a 4.875% coupon rate.
- The issuance was oversubscribed, drawing investors from the region and beyond who placed orders to the tune of $2.3 billion
- The proceeds from the sukuk will be utilized in accordance with Aldar’s Green Finance Framework, which governs investment in sustainable projects
Economy
Iran and Russia sign customs agreement to boost trade volume
Tehran, Iran-- Continuing with their program to deepen the relationship between the two countries, Iran and Russia have signed a...
- The Iranian minister said that a new roadmap for expanding cooperation between the two countries will be achieved with the signing of the agreement
- The head of the Russian delegation said that his country's goal was to develop the transit capacity and to boost cooperation in order to increase trade
Economy
IMF lauds Jordan for monetary policy ensuring macroeconomic stability
Amman, Jordan--The International Monetary Fund (IMF) has applauded Jordan for its tight monetary and financial policies that have ensured macroeconomic...
- The IMF said that the kingdom's program supported by the fund is "still on the right track" with targets bolstered by strong performance on structural benchmarks
- It observed that the economic recovery from the COVID-19 pandemic is ongoing in Jordan, expecting GDP growth to reach about 2.6 per cent in 2023
Economy
Money laundering and terrorism financing pose threat to world: UAE
The three-day conference in Abu Dhabi has brought together officials from around the world to discuss the menace of money...
- The official emphasized the importance of cooperation among nations to combat money launder and terrorism financing
- The UAE has set up specialist department and has signed a slew of agreements to coordinate with many countries to fight money laundering
Science
UAE sees 20 percent decrease in nitrogen oxide emissions: study
Dubai, UAE-- The UAE has witnessed a 20 percent drop in nitrogen oxide emissions from power generation activities, according to...
- The findings of the study corresponds with the "National Air Quality Agenda 2031," introduced by the Ministry of Climate Change and Environment
- The UAE aims to lower pollution, improve air quality, foster a safe and healthy environment, and enhance the overall quality of life
Business
DEWA and Huawei to develop new technologies in electricity, water sectors
Dubai, UAE--DEWA and Huawei are looking to develop new technologies and solutions to boost efficiency and sustainability in the electricity...
- The collaboration between the two entities has resulted in progress in digital transformation, exchanging the best international solutions, experiences and practices
- Saeed Mohammed Al Tayer, MD & CEO of DEWA, noted the progress of the joint projects between the two sides, including Moro’s green data centres
Economy
Iran and Russia look to expand ties in the energy sector
Tehran, Iran-- Iran is looking to deepen energy ties with Russia as the latter is keen to explore and develop...
- Russian Deputy Prime Minister Alexander Novak said that projects to develop oil fields in Iran are underway and new projects are being outlined, "where I expect progress soon"
- Iranian Oil Minister Javad Owji said that the two sides also discussed the construction of nuclear power plants in Iran and other electrical power generation
Economy
Gross banks’ assets vault 2.2 percent to US$1trn in February: CBUAE
Abu Dhabi, UAE--Gross banks’ assets, including bankers’ acceptances, rose by 2.2 percent, from $999 billion at the end of January...
- According to the central bank, gross credit shot up 1.2 percent from $510 billion at the end of January 2023 to $517 billion at the end of February 2023
- It further added that total bank deposits climbed 0.4 percent, from $608 billion at the end of January 2023 to $610.48 billion at the end of February 2023
Economy
Sharjah Chambers reviews efforts to bolster UAE’s food security
Sharjah, UAE-- Sharjah Chamber of Commerce and Industry (SCCI) has reviewed the UAE efforts to achieve and maintain the food...
- The meeting discussed avenues for boosting exports, and explored strategies to monitor international markets in order to support local production
- The participants highlighted the country's advantageous position, its advanced logistics infrastructure, and strong international trade relations
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
Company News
DEWA Q3 revenue soars
Business
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Aramex Q3 net profit down
Business
COP28 focused on achieving balanced package in negotiations: Majid Al Suwaidi
Dubai, UAE-- The COP28 Presidency is focused on achieving a balanced package in the negotiations, according to Ambassador Majid Al...
COP28 UAE
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...
Economy
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...
COP28 UAE
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Business
Bahrain and Germany look to boost cooperation in health sector
Manama, Bahrain-- Bahrain and Germany have held discussions to boost ties in the health field as the two countries seek...
- Chairman of the SCH, Lieutenant-General Dr. Shaikh Mohammed bin Abdulla Al Khalifa, expressed Bahrain’s interest in developing cooperation with Germany in all fields
- Both the sides pushed for an exchange of specialized medical, technological and technical expertise, training, medical research between the two countries
Business
EU clinches ‘historic’ deal on AI law after long negotiations
The EU's internal market commissioner, Thierry Breton. called the deal as historic, regulating artificial intelligence models such as ChatGPT. Negotiators...
- The commissioner said the AI Act is much more than a rulebook , calling it a launchpad for EU startups
- The EU law will still need to be formally approved by member states and the parliament
Business
UAE’s GCAA signs MoUs with Brazil, Switzerland in air-transportation sector
Riyadh, Saudi Arabia--The General Civil Aviation Authority (GCAA) of the UAE signed two memorandums of understanding (MoUs) with Brazil and...
- The MoUs were signed on the sidelines of the UAE delegation's participation in the fifteenth ICAO Air Services Negotiation (ICAN2023),
- The GCAA chief said the UAE is eager to strengthen cooperation in the field of air transportation with various countries around the world