Qatar strikes new 15-year 3 mtpa LNG supply deal with Kuwait
Qatar agreed on Monday to supply Kuwait with 3 million tons per annum (mtpa) of liquefied natural gas (LNG) for...
Record high Gold prices amidst expected September FED rate cut
Gold prices continued to notch new records Wednesday, lifted by increasing conviction that the Federal Reserve will cut interest rates...
Economy
Business
Salik begins trading on DFM, after large investor interest
Dubai, UAE— Salik, Dubai toll operator, has listed on Dubai Financial Market under the name of "SALIK", after the offering...
- It is the third public offering and listing on the DFM in 2022 as part of the plan to develop financial markets in the country
- The strong demand toward the issuance prompted the company to raise the offered shares to 1,867,500,000 shares representing 24.9 percent of its share capital
Economy
UAE tops Arab countries in WIPO’s Global Innovation Index 2022
The UAE also ranked 18th globally on the GII's Innovation Input Sub-Index, five ranks higher than 2021.
- The country also ranked 18th globally on the GII's Innovation Input Sub-Index, five ranks higher than 2021
- It ranked 6th globally in the Institutions indicator, as compared to 24th last year, 7th in the Infrastructure indicator, as compared to 14th in 2021
Business
Specialized sessions on Metaverse opportunities held in Dubai
As many as seven side sessions were held on the first of the two-day specialized sessions on Metaverse.
- The first day's sessions discussed methods of an economically viable, inclusive and safe metaverse, focusing on governance, and economic and social value creation.
- The first day of the Dubai Metaverse Assembly also included live demonstrations in web 3.0 and the metaverse introduced by SIAPartners.
Geostrategy
‘Agri-tech, innovation key in improving farmers’ livelihoods’
UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri participated in the Agriculture Ministers’ Meeting in Bali...
- Innovation and agri-tech has helped UAE to support smallholder farmers and enhance their contribution to food security.
- innovative agricultural methods are the building blocks of sustainable food systems, says UAE minister.
Business
Four new Saudi fintech firms to work under legislative pilot environment
Riyadh, Saudi Arabia---The Central Bank of Saudi Arabia has authorized four new financial technology companies to work under the umbrella...
- Saudi Central Bank's approval for these firms brings the total number of such authorized companies to 42.
- This step will achieve the objectives of enhancing and diversifying the innovations presented in the financial sector, promoting savings, payments and investment activities.
Geostrategy
UAE, Tanzania sign pact to avoid double taxation
UAE and Tanzania have signed an agreement for avoiding double taxation and preventing tax evasion.
- The pact was signed as part of the UAE's endeavors to strengthen cooperation frameworks in tax matters.
- The agreement is in line with both countries’ efforts to boost cooperation in tax fields, increase investment opportunities, encourage trade exchange.
Business
First international shipment arrives at Mugharraq Port
Abu Dhabi, UAE--- AD Ports Group Thursday announced the arrival of the first international shipment at Mugharraq Port, one of...
- This is the first shipment since Mugharraq Port was recognised as an international port facility.
- International recognition was achieved after a series of major upgrades at the port.
Geostrategy
Dubai fifth globally in UN digital city governance survey 2022
Dubai ranked fifth globally and first in the Arab World in the Local Online Service Index (LOSI) 2022 issued by...
- The latest Local Online Service Index assessed digital governments in major cities across 193 countries.
- Dubai received perfect scores in Institutional Framework, Content Provision and Service Provision, earning it top ranking in these vital indicators.
Business
DMCC holds events in Miami and New York to attract US companies
Dubai, UAE--- Dubai Multi Commodities Centre (DMCC) said Thursday it has concluded Made For Trade Live events in Miami and...
- DMCC said it sees significant opportunities for growth in the UAE–US trade corridor, which was worth US$23 billion in 2021.
- The Centre home to more than a third of the approximately 1,500 US businesses in the UAE.
Economy
UAE to develop international maritime network
The Ministry of Energy and Infrastructure (MoEI) announced the launch of the "UAE Maritime Network".
- The initiative supports the Ministry of Energy and Infrastructure efforts to enhance the position of the UAE’s maritime sector globally.
- The maritime network will be a knowledge hub for global stakeholders on investment opportunities in the UAE’s maritime industry.
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Qatar strikes new 15-year 3 mtpa LNG supply deal with Kuwait
Qatar agreed on Monday to supply Kuwait with 3 million tons per annum (mtpa) of liquefied natural gas (LNG) for...
Company News
Dubai Police ink deal with UAE Hockey Federation
Arts & Culture
Latest News
Alcoa, EGA ink supply pact
Business
Central Bank of Bahrain treasury bills oversubscribed by 149 percent
MANAMA, BAHRAIN - This week’s BD 70 million (US$186 issue of Government Treasury Bills has been oversubscribed by 149 percent....
Business
IsDBI, BIBF join hands to enhance global Islamic finance expertise
MANAMA, BAHRAIN - The Bahrain Institute of Banking and Finance (BIBF) and the Islamic Development Bank Institute (IsDBI) have decided...
Business
Arab countries account for 60 percent of global Islamic financial industry, says AMF
ABU DHABI, UAE – Director-General and Chairman of the Board of Directors of the Arab Monetary Fund Dr Abdul Rahman...
Business
Most Read
Business
ADNOC, TAQA complete financial closing on sustainable water supply project
ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2...
- A consortium comprising Orascom Construction and Metito (the Consortium) will construct a centralized world-class seawater treatment facility.
- ADNOC and TAQA own a joint 51 percent majority stake (25.5 percent each), the Consortium owning the remaining 49 percent stake in the project company.
Geostrategy
UAE minister calls for climate action by promoting nature-based solutions
NEW YORK, US – UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri called upon the global...
- The minister made the comments during high-level meetings on the sidelines of the 78th United Nations General Assembly in New York.
- Mariam Almheiri, who is also the COP28 Food Systems Lead, highlighted the prominence placed by the UAE on food and agriculture in COP28 agenda.
Science
World must understand AI, curb its risk, says UK Deputy PM
NEW YORK, US - The United Kingdom will be holding a summit on artificial intelligence (AI) so that nations can...
- UK Deputy PM said that a summit, set for November, will aim to preempt the risks posed by frontier AI and explore how it can be used for public good.
- One of the concerns highlighted by the Deputy Prime Minister is the unprecedented speed at which AI is evolving having far-reaching implications.