ADNOC L&S 2024 net profit $756m
The company's revenue increased by 29 percent to $3.54 billion.
Business
Economy
UAE, US partner to invest $100bn in renewables, clean technologies
The UAE-US Partnership for Accelerating Clean Energy (PACE), aims to produce 100 new gigawatts (GW) of clean energy in the...
- The UAE-US Partnership for Accelerating Clean Energy (PACE), aims to produce 100 new gigawatts (GW) of clean energy in the two countries
- The UAE has invested more than US$50 billion over the past ten years in clean energy technologies and solutions around the world
Business
Dubai starts issuing multiple-entry visa for Qatar World Cup fans
Dubai, UAE— Dubai has begun to give out multiple-entry tourist visa for "Hayya cardholders" traveling to Doha for the World...
- General Directorate of Residency and Foreigners Affairs (GDRFA) issued the first 90-day multiple-entry tourist visa to Mohammed Jalal, a Jordanian football fan
- Arrivals, according to GDRFA, can have their visas before reaching the country and can shuttle frequently between Dubai and Doha for matches several times a day
Geostrategy
Abu Dhabi, Kyrgyzistan’s Bishkek City sign twinning agreement
Abu Dhabi, represented by Abu Dhabi's Department of Municipalities and Transport, and Bishkek City have signed a twinning agreement to...
- As part of the city twinning agreement, the two capital cities will enable mutual exchange between delegations and the business community.
- The pact will also facilitate exchange of knowledge in urban planning and explore the feasibility of joint venture projects.
Geostrategy
UAE Minister, IMF Director discuss challenges facing MENA
UAE Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met with Director of the Middle East and Central...
- The minister underscored the importance of the IMF in enhancing the safety of the global economy.
- He said that the IMF helps in creating a stable financial environment, especially in light of the exceptional circumstances the world is facing.
Geostrategy
ENEC, Atlantic Council sign three-year nuclear cooperation pact
Abu Dhabi, UAE--- The Emirates Nuclear Energy Corporation (ENEC) has signed a three-year agreement with the Atlantic Council to collaborate...
- The Atlantic Council is a US-based think tank, and home to the Global Energy Centre, one of the leading US energy centers for promoting energy security.
- The collaboration will see ENEC and the Atlantic Council join forces to support the Council’s new Nuclear Energy Policy Initiative.
Business
JAHEZIYA, Enekom ink pact
Pact aims to expand railway solutions, technology in region.
- As per the agreement, JAHEZIYA will be Enekom’s exclusive distributor of the patented RailAcoustic Sensors in the GCC to enhance railway security.
- The partnership was announced during ADIPEC, an exhibition in which the world’s energy ecosystem assemble.
Economy
UAE-US partnership to spur $100 bn clean-energy financing, development
The Partnership for Accelerating Clean Energy will see the two countries develop, finance and deploy clean projects in the US,...
- UAE Special Envoy for Climate Change Dr. Sultan Al Jaber and Special Presidential Coordinator Amos Hochstein signed the partnership at ADIPEC.
- They will accelerate investment in fossil fuel emissions mitigation; further develop CCUS technologies and advance methane measurement and management.
Business
ADEX signs line-of-credit pact with National Bank of Iraq
The Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a US$10...
- The agreement between ADEX and NBI aims to boost economic cooperation between the UAE and Iraq.
- The pact adds momentum to ADEX’s effort to contribute to the economies of both countries and support the UAE’s strategy on economic diversification.
Business
Saudi Arabia issues permits for projects worth US$1.1bn
Riyadh, Saudi Arabia—Saudi Arabia has issued permits for non-oil industrial projects worth $1.1 billion in August. The licenses issued in...
- The licenses issued in August were for chemicals, metals, machinery, furniture, home appliances and other light-medium products
- While 85 percent of the projects issued with permits were owned by locals, the remaining 15 percent were owned by foreigners or as joint ventures
Business
Emirates Steel Arkan Q3 net profit $28m
The net profit for the first nine months of 2022 was $104m.
- Revenues for the first nine months of 2022 rose to AED7.12 billion, while the revenues rose 29 percent to AED2.51 billion in the third quarter.
- The Group's Q3 2022 EBITDA gained 224 percent year-on-year (YoY) to AED269 million. The Group reported EBITDA of AED863 million.
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Company News
Latest News
ADNOC L&S boosts barge fleet
Business
Israel police claim Hamas was not aware of a music festival on October 7
DUBAI - An investigation carried out by Israeli police has concluded that Hamas, involved in the October 7 attack, had...
Geostrategy
NBM’s board approves increasing Murabaha sukuk issue to $133m
RIYADH, SAUDI ARABIA - National Building and Marketing Co’s (NBM) board of directors approved an increase of Murabaha SAR-denominated sukuk...
Business
Blinken calls on Israel to stop settler violence in West Bank: Report
Israeli settler violence has increased significantly since the outbreak of the ongoing Israeli genocide campaign in Gaza, rising from an...
Geostrategy
Most Read
Business
UAE defense ministry orders 100 REACH-S unmanned aircraft from EDGE
DUBAI, UAE - EDGE, one of the world's leading advanced technology and defense groups, announced its first major order from...
- ADASI, an EDGE entity which designs and develops autonomous systems, will oversee the production and deliver the contract to the UAE Armed Forces.
- The REACH-S will provide the UAE Armed Forces with a cost-effective, 24-hour intelligence, surveillance and reconnaissance (ISR) capability.
Business
Tabreed 9M profit at $218m
This is due to the steady growth in its consumption volumes.
- Tabreed delivers strong growth, with revenue soaring 10 percent to US$490 million in January-September 2023.
- This is a 10 percent increase in revenue year-on-year, compared to US$460 million in January-September 2022.
Geostrategy
Saudi Arabia, CARICOM countries hold first summit for strategic partnership
RIYADH, SAUDI ARABIA - Since its foundation, the Kingdom has been keen to build bridges of communication with all the...
- The convening of the summit will contribute to mutual support for various global nominations of the Kingdom and CARICOM, including Saudi Arabia's bid to host Expo 2030.
- It will enhance coordination on regional and international issues of common interest, boosting tourism cooperation, and highlighting Saudi Arabia's tourist attractions.