North Korea shows first photos of banned uranium enrichment site
North Korea for the first time showed images of the centrifuges that produce fuel for its nuclear bombs on Friday,...
Geostrategy
Qatar strikes new 15-year 3 mtpa LNG supply deal with KuwaitÂ
Qatar agreed on Monday to supply Kuwait with 3 million tons per annum (mtpa) of liquefied natural gas (LNG) for...
Business
Siemens bags Egypt project
The company will upgrade power distribution system in Alexandria.
- Implementing advanced software solutions and automation devices will help Alexandria Electricity Distribution Company increase efficiency.
- A total of 300,000 smart meters will be supplied, including the necessary hardware and software to establish an advanced metering infrastructure.
Geostrategy
UAE, Serbian Presidents discuss bilateral relations
UAE President Sheikh Mohamed bin Zayed Al Nahyan discussed with Aleksandar Vucic, President of Serbia, cooperation between their countries and...
- The two leaders discussed a number of regional and global issues and developments of mutual concern.
- The two leaders explored UAE-Serbia cooperation in investment, economic, trade, science, technology, food security, agriculture, among others.
Economy
Dubai’s RTA releases Sustainability Report 2021
Dubai's Roads and Transport Authority (RTA) has published its seventh Sustainability Report 2021. The report showcases RTA's practices in matters...
- The report showcases RTA's practices in matters related to the environment, society and governance.
- RTA had developed a roadmap to achieve zero-emission from public transport means by 2050.
Business
EU commercial flights surge 25 percent in August 2022
Brussels, Belgium - The number of commercial flights in August 2022 in the EU increased 25 percent compared to August...
- The numbers are still below the pre-pandemic levels, but the gap is eventually decreasing.
- Also, some EU airports recorded increase in the total commercial flights compared with 2019.
Economy
Dubai FDI wins UN award for best practices in tracking investments
The Dubai Investment Development Agency (Dubai FDI) at the Department of Economy and Tourism (DET) gained international recognition for its...
- Dubai FDI Monitor tracks and records five different types of foreign direct investment in real-time.
- The Monitor tracks and records FDI and new forms of investments using advanced methodology and smart features.
Business
DEWA plans cash dividend for H1
Firm plans to give cash dividend of US$844m.
- DEWA's first general assembly meeting will be held physically and virtually on October 10, 2022.
- The assembly will vote on the recommendation of Board of Directors concerning a cash dividend distribution for H1 2022.
Arts & Culture
Kuwaiti Camel Racing Club sports season 2022-23 begins
Kuwait--Activities of the local sports season of the Kuwait Camel Racing Club for 2022-2023 season begun on Saturday at Sheikh...
- Nine runs were held on the first day of the season that will last for seven months.
- More than 300 participants of all ages participated in Saturday's race, which contributed towards increasing the number of camels in the event. the organizers said.
Business
Saudi PIF to come out with a debut green bonds issue
Saudi Arabia’s Public Investment Fund (PIF), the sovereign wealth fund at the heart of the kingdom’s reform plans to wean...
- According to media reports, PIF has set up a financing framework that would allow it to raise green bonds
- PIF started raising bank debt in 2018 with an $11 billion facility, followed in 2019 by a $10 billion loan which it then repaid in 2020
Economy
IsDB sanctions US$1.12bn financing for member countries
The Islamic Development Bank (IsDB) has approved a $1.12 billion financing for development projects in various sectors in nine member...
- In the Republic of Uganda, the financing of US$ 100 million, part of the Islamic tranche, will enable the country to untap its oil reserves and export oil to international markets
- In the Health sector, sovereign financing of $207 million was approved for the Strengthening of the National Referral Hospital on Oncology Center for Indonesia
Geostrategy
Summit in UAE discusses global partnerships, prosperity
Over 200 senior officials convened in the "Ambassadors Forum", organized by the World Government Summit Organization in partnership with UAE...
- The summit discussed role of diplomacy in shaping future governments and achieving global prosperity.
- UAE Minister of Economy spoke on the critical priorities for governments in the next decade.
North Korea shows first photos of banned uranium enrichment site
North Korea for the first time showed images of the centrifuges that produce fuel for its nuclear bombs on Friday,...
Geostrategy
Company News
Latest News
Sharjah Consultative Council approves  heritage policy
Arts & Culture
RAKEZ witnesses 35 percent growth in holding company registrations
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) reported a remarkable surge in the registration of holding...
Business
Soniqs wins PUBG Global Series 2 Crown
It claimed $600,000 prize at Gamers8 - The Land of Heroes.
Business
Most Read
Business
DEWA files patent for energy liquid
The liquid enhances efficiency of energy storage systems.
- The novel liquid is an effective and safe solution for energy storage systems operations, notably lithium-ion batteries and fuel cells.
- DEWA chief Al Tayer said the patent supports its commitment to promoting energy security and sustainability.
Business
Abu Dhabi Chamber inks MoU with Ethiopian Investment Commission
ABU DHABI, UAE - The Abu Dhabi Chamber of Commerce and Industry has signed a Memorandum of Understanding with the...
- The MoU also aims to establish a framework for cooperation that advances trade, investment and economic relationships between the UAE and Ethiopia.
- The signing of the MoU was held on the sideline of the UAE delegation's visit to the Federal Democratic Republic of Ethiopia.
Economy
Economists convened by COP28 lay out steps to reform global climate finance
ABU DHABI, UAE - A two-day meeting of world leading economists and finance leaders convened by the COP28 Presidency has...
- Particular areas of focus for the new framework will include addressing debt distress in vulnerable countries.
- Group said that private finance flows need to grow much faster to meet the $2.4 trillion investment estimated nnually.