Multiply Group acquires Backlite Media
The buyout is part of its plan to boost media business.
Business
WTO chief economist applauds UAE ‘commitment’ to trade liberalization
Abu Dhabi, UAE-- Applauding the UAE's commitment to trade liberalization, including development of green and digital trade globally, Ralph Ossa,...
Economy
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...
- 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
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....
- 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
Multiply Group acquires Backlite Media
The buyout is part of its plan to boost media business.
Business
Company News
France rallies for Gaza, demanding ceasefire
Geostrategy
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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