UAE-based banks aggregate capital, reserves reach US$131bn by end of November 2023
ABU DHABI, UAE- The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching US$131 billion...
Business
Business
DIFC unveils wealth center
The center will be a hub for high-net-worth individuals.
- The center will look to provide advisory and concierge services, education and training, outreach and high-end networking, besides undertaking research and issuing publications
- Tarek Hajjiri, CEO for the new project, said that the new center will play a unique role in guiding family businesses in relation to governance, succession, ownership, wealth
Economy
Ajman records 13% growth in certificates of origin during H1, 2022
Abdullah Al Muwaiji, Chairman of the ACCI, said that the export growth in Ajman was supported by the advanced infrastructure...
- Abdullah Al Muwaiji, the ACCI Chairman, said that the export growth in Ajman was backed by the advanced infrastructure
- ACCI has issued a set of commercial reports to its members, traders, and industrial business owners, to identify export opportunities available in global markets
Geostrategy
UAE, Germany to cooperate in ecotourism, environment conservation
UAE and Germany have reviewed cooperation on biosphere reserves, ecotourism, and environmental conservation. A delegation from the German Development Cooperation...
- AE’s Ministry of Climate Change and Environment (MOCCAE), represented by its Biodiversity Department, shared insights on ecotourism prospects with a German delegation.
- The ministry explored collaboration to control marine pollution and promote sustainable aquatic environment.
Business
Southern Cement H1 profit $40mn
Profit fell 42 percent compared to H1 2021.
- In comparison to 2021, the profit declined by 42 percent, when it was $68.4 million.
- The company’s net profit in second quarter 2022 dropped 30 percent to $16.22 million
Geostrategy
Dubai Customs thwart marijuana smuggling bid at international airport
Dubai Customs authorities seized 3.7kg of marijuana at Dubai International Airport terminal 1. An African passenger was trying to smuggle...
- An African passenger was trying to smuggle the drugs by stashing it inside cylindrical vehicle air filters.
- The goods were analyzed through the narcotics detector, which revealed it to be marijuana.
Business
Dubai realty market records deals worth $653 million on Tuesday
Dubai real estate market recorded 436 sales transactions worth AED971.4 million ($264 million), in addition to 101 mortgage deals of...
- The sales included 360 villas and apartments worth AED738.88 million, and 76 land plots worth AED232.51 million.
- The emirate's real estate market record realty transactions worth over AED1.6 billion on Monday.
Business
Three day Ajman Dates festival concludes, promotes palm plantation
The seventh edition of three-day Liwa Ajman Dates and Honey Festival at the Emirates Hospitality Center in Ajman, concluded. Organized...
- The event acted as a platform for promotion of palm plantation, and production of dates, honey and fruits.
- People visited the festival in huge numbers, which included many events aimed at reviving the cultural Emirati heritage
Economy
WUWM Abu Dhabi 2022 to discuss global food chain
The World Union of Wholesale Markets (WUWM) Conference 2022, which will be held in the Middle East for the first...
- The World Union of Wholesale Markets (WUWM) Conference 2022 will be held in the Middle East for the first time
- As the world’s largest network of wholesale markets, WUWM represents the industry’s most significant suppliers of fresh food
Arts & Culture
Sharjah festival to screen films from 43 countries
Films for children and youth from France, the United Kingdom and Saudi Arabia have topped the official selection list of...
- A total of 100 movies have been chosen for screening this year, with 29 animation feature films, compared to 17 from last year.
- With 12 films each, the UK leads in the child and youth-made category, while films from Saudi Arabia make up the bulk of the short films from the GCC.
Economy
Jordan forms a PPP council to boost mining sector
Jordan's Minister of Energy and Mineral Resources on Tuesday announced the formation of a Public-Private Partnership (PPP) council for mining,...
- This Public-Private Partnership is part of the plan for implementation of the economic modernization vision
- The minister said that there is a need for establishing a research center for mining and metallurgy as part of the vision
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Company News
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VOX Cinemas unveils debut slate of original Arabic films
Arts & Culture
AI key to global opportunities, practical solutions
"Projections indicate that AI solutions are set to contribute an estimated $13 trillion to the global GDP by 2030, optimizing...
DET to highlight Dubai’s tourism in Arabian Travel Market
DUBAI, UAE - Dubai’s Department of Economy and Tourism (DET) is likely to display the diversity of the Emirate's destination,...
Business
Ajman real estate transactions reach $930 million in first quarter
Ajman, UAE - Total real estate transactions in Ajman in the first quarter (Q1) of 2023 totaled AED3.4 billion ($930...
Business
Most Read
Economy
Up to $1.7 trillion investment needed for green aviation goals
To meet the estimated energy demand from hydrogen and electric aircraft in 2050 would require the amount of energy produced...
- Carbon-free propulsion options, such as battery and hydrogen-powered aircraft, are some of the options the aviation industry is pursuing.
- Airports, airlines and others will need to make heavy infrastructure investment to deliver the green hydrogen and electricity the aircraft will need.
Business
UAE energy ministry awards DEWA for research, innovation
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has been awarded first place in UAE Ministry of Energy and...
- DEWA was honored for its innovative grid-integrated system which regulates photovoltaic inverters for autonomous voltage.
- The approach to innovation, research and development in renewable and clean energy is in line with government strategies, DEWA CEO said.
Science
UN chief calls for protection of biodiversity on International Mother Earth Day
NEW YORK, US - UN Secretary-General António Guterres issued a statement calling for urgent action to protect the environment and...
- The UN chief highlighted the crucial relationship between humanity and the natural world.
- He called for deeper and faster emissions cuts to limit global temperature rise to 1.5 degrees Celsius.