Over 12,000 Wi-Fi breaches recorded in UAE since start of year
Abu Dhabi, UAE -- The UAE Cyber Security Council (CSC) has warned of the serious risks posed by using open...
Geostrategy
Business
Emarat partners with Al Maryah Bank
Al Maryah gets first naming rights for Emarat fuel stations.
- Under this partnership, Al Maryah Community Bank becomes the inaugural entity, both locally and globally, to secure the rights to name a fuel station.
- Through Mbank Wallet application, customers can execute transactions by scanning the QR code at the checkout counters using their mobile phones.
Geostrategy
Qatar and Turkey to reunite wounded Gazans with their relatives in Doha
Doha, Qatar - Qatar and Turkey announced partnership in reuniting wounded Palestinians from the Gaza Strip with their relatives in...
- The Ministry of Foreign Affairs said that a number of the wounded are receiving treatment in Turkey, while their relatives were undergoing treatment in Qatar.
- The reunification will enable the patients to continue their treatment together in Doha, as part of the initiative of Qatar's Amir Sheikh Tamim Al-Thani.
Business
Real estate deals worth $23bn recorded in Abu Dhabi in 2023: ADREC
Abu Dhabi, UAE -- Real estate deals worth AED 87.1 billion ($23.71 billion) were recorded in Abu Dhabi during 2023,...
- The value of buying and selling activities surged by 159.5 percent compared to 2022, reaching AED61 billion.
- ADREC reported this increase based on 15,653 transactions, representing a 73.7 percent rise from 2022.
Business
Nearly 71% firms plan to expand workforce in ADGM in 2024
Abu Dhabi, UAE: A total of 70.81 percent of companies anticipate expanding their workforce in Abu Dhabi Global Market during...
- Asset Management is poised to take the lead, as 18.56% of respondents recognize its significant growth potential.
- Fintech and the fields of Digital Assets, Blockchain, and Distributed Ledger Technology, came second, with 17.08% and 16.83% of stakeholders banking on their rise respectively.
Business
UAE first: Islamic banking assets by 2023 end cross $190bn mark
Abu Dhabi, UAE -- The assets of Islamic banks operating in the UAE exceeded AED 700 billion ($190 billion) for...
- Deposits in Islamic banks rose to AED 495.5 billion at the end of last December, an annual increase of about 12.6 percent, compared to about AED 440 billion in December 2022.
- The total investments of Islamic banks reached AED 132.7 billion at the end of last December, an annual increase of 27.1 percent or AED 28.3 billion.
Geostrategy
Russia working to establish visa-free travel with Gulf nations: Bogdanov
Moscow, Russia -- Russia is working to establish a visa-free regime with all Gulf countries, said Mikhail Bogdanov, Russia's deputy...
- "In principle, such work is going on systematically. Because, of course, I think it is in the interests of our countries," said Mikhail Bogdanov, Russia's deputy foreign minister.
- In September last year, Russia offered the complete cancellation of tourist visas to Kuwait, Oman, Bahrain, Saudi Arabia and Malaysia.
Business
Arabian Drilling to pay $60m dividend
The firm said the total dividend for 2023 will be S120 million.
- The company posted a net profit SAR 605 million in 2023, up 8 percent compared to SAR 558 million in 2022.
- The fourth-quarter net earnings jumped 34 percent to SAR 183 million from SAR 137 million in Q4 2022.
Business
$37.30 million Saadiyat Island penthouse sets new Abu Dhabi record
Abu Dhabi, UAE -- A three-bedroom penthouse at Nobu Residences on Saadiyat Island was sold for a record AED137 million...
- Aldar said the sale represents the highest price per square meter achieved in the emirate, at more than AED96,000 per sqm.
- The record sale of the Nobu Residences Abu Dhabi penthouse follows a recently sold four-bed duplex sky villa at the same development for AED130 million.
Business
ADNOC and SEFE sign agreement
ADNOC will supply 1 million mtpa of LNG to SEFE Singapore.
- The LNG will primarily be sourced from ADNOC’s lower-carbon Ruwais LNG project, currently under development in Al Ruwais Industrial City, Abu Dhabi.
- This is the second long-term LNG supply agreement from the Ruwais LNG project, following the 15-year agreement with China’s ENN Natural Gas in Dec 2023.
Business
50% of firms attracted to Dubai by DIC in 2023 Asian and Australian
Dubai, UAE -- Nearly 50 percent of the Multinational Corporations (MNCs) that opened businesses in Dubai during 2023 are based...
- Latin America and Europe, and the Middle East and Eurasia, accounted for 23.5 percent each of the total number of MNCs attracted during 2023.
- Companies from Africa represented 3 percent of the total number of corporations attracted by the chamber.
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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
Over 12,000 Wi-Fi breaches recorded in UAE since start of year
Abu Dhabi, UAE -- The UAE Cyber Security Council (CSC) has warned of the serious risks posed by using open...
Geostrategy
Company News
Latest News
ADNOC Drilling closes JV
Business
UAE aviation sector’s 2024 milestone: 1 million air traffic movements
Abu Dhabi, UAE -- The United Arab Emirates (UAE) achieved a milestone in the aviation industry as it surpassed 1...
Business
All six lines of Riyadh Metro are now operational
The Royal Commission for Riyadh City (RCRC) announced that the phased rollout of Riyadh Metro culminated as of Sunday, Jan....
Saudi PMI falls to 58.4 in Dec as non-oil private sector improves
Riyadh, Saudi Arabia -- The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia...
Business
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Geostrategy
Israeli invasion destroys 90% of Gaza livestock, poultry farms
Gaza, Palestinian Territories - The Israeli forces have decimated 90 percent of 2,500 poultry and cattle farms in Gaza during...
- A million turkeys distributed across 150 farms, were culled, in addition to 80 percent of the total domestic poultry population, estimated to be 300,000 birds.
- Israeli forces destroyed 90 percent of the 100 cattle farms, which were breeding 50,000 calves annually, and culled 2,200 cows in 400 farms.
Business
Emirates’ first A350 takes flight
The airline operated the inaugural flight from Dubai to Edinburgh.
- The aircraft, featuring Emirates' latest cabin products, is the first of 65 A350s joining the airline's fleet over the coming years.
- Emirates has configured its A350 to provide three cabin classes, accommodating 312 passengers in 32 next-generation Business Class lie-flat seat.
Geostrategy
Winter rains, flooding and limited aid worsen Gaza tragedy: IOM
"Vulnerable people, including at least seven infants, have died from hypothermia, and these tragic deaths underscore the urgent need for...
- As of mid-Dec, the Shelter Cluster, a coordination group of UN, international and local humanitarian, estimates at least 945,000 still urgently need winterization assistance.
- IOM has delivered nearly 180,000 emergency shelter items to partners inside Gaza since mid-November and has over 1.5 million more winter supplies.