e& pledges $6 billion to advance connectivity in 16 countries
Barcelona, Spain -- e& Friday pledged to invest $6 billion between 2024 and 2026 in technological advancement, infrastructure development, and...
Business
ADGM’s Registration Authority fines two firms for audit failings
ABU DHABI, UAE – The Registration Authority (RA) of Abu Dhabi Global Market has fined Baker Tilly Middle East Limited...
Geostrategy
Business
Istanbul Airport first in Europe with 1,327 average flights daily
Istanbul Airport ranked first in Europe in terms of the average number of daily flights during the period of July...
- The Airport exceeded the French Charles de Gaulle Airport and Amsterdam Airport Schiphol by number of flights
- Istanbul Airport also topped the list of airports in terms of the number of passengers during the month of June
Economy
DEWA’s Marafeq Smart Feature speeds up issuing of NOCs
Dubai Electricity and Water Authority (DEWA)’s Marafeq Smart Feature has contributed to accelerating issuing of No Objection Certificates (NOCs) for...
- DEWA’s Marafeq Smart Feature has enhanced collaboration with other utilities in Dubai
- Till the end of June 2022, around 15,000 NOCs have been approved using this feature
Economy
‘Credit by national banks rose to US$3.5bn till April 2022’
Credit facilities provided by national banks to the business and industrial sector rose 1.92 percent to US$3.5 billion (AED13.1 billion)...
- The cumulative balance of credit provided by national banks to the sector on a year-on-year basis grew by 2.14 percent.
- Value of credit facilities extended by national banks to the sector accounted for 89.1% of gross accumulative credit balance.
Geostrategy
‘Kuwait an important partner in oil exploration sector’
Secretary-General of the Malaysian Foreign Ministry said Kuwait is an important partner in oil explorations sector, urging closer investment relations...
- Secretary-General, Malaysian Foreign Ministry says Kuwait is an important partner in oil explorations sector
- The official urges closer investment relations between the two countries.
Geostrategy
Egypt warns Ethiopia against filling up of Renaissance Dam
Egypt has warned Ethiopia against the filling of the Grand Ethiopian Renaissance Dam (GERD) reservoir, saying that it would not...
- Egyptian Foreign Minister Sameh Shoukry dismissed the unilateral filling of the dam reservoir as "a clear violation of the 2015 Declaration of Principles Agreement"
- The minister underlined that Egypt also reserves its legitimate right guaranteed in the Charter of the United Nations to take all necessary measures to ensure and protect its natio
Economy
Turkey’s June 2022 exports up 19% to US$23.4bn
The January-June figure hit $125.9 billion, the Turkish Statistical Institute (TurkStat) said in a statement
- The January-June figure hit $125.9 billion, the Turkish Statistical Institute (TurkStat) said in a statement
- As imports rose at a faster pace than exports, the country's foreign trade deficit widened 142.7 percent to hit $51.4 billion
Standard Chartered posts record profit in H1 of 2022
The bank's profit rises 28% to US$581 million in the first half.
- The bank witnessed double-digit income growth and high Operating Profit growth in major markets like the UAE, Pakistan, and Ghana
- The bank’s operating profits has also increased to with US$581 million, a 28% increase in operating profit compared to last year
Geostrategy
Islamic Development Bank approves $10.54bn food security package
The Islamic Development Bank (IsDB) Group has agreed on a $10.54 billion package for the Comprehensive Food Security Response Program...
- The package will support member countries in addressing the ongoing food crisis and strengthening its members' resilience to future food security issues.
- The package was announced after at an extraordinary joint meeting, chaired by IsDB President and Chairman of the Board of Directors of the IsDB Group Dr. Muhammad Al Jasser.
Business
QEWC finalizes buying 40 percent shares of Nebras
Qatar Electricity and Water Company (QEWC) said Raslaffan Operating Company WLL, a wholly-owned subsidiary of QEWC completed the purchase of...
- QEWC said that the completion of the purchase process came as a continuation of the statement issued by the company on January 4
- On January 4, QEWC said Raslaffan Operating Company WLL has completed purchase of 40 percent of the share capital of Nebras Power
Economy
Dubai’s real estate market sales transactions reach US$6.2bn
Dubai’s real estate market recorded 8,897 sales transactions worth US$6.2 billion approx (AED22.75 billion), the highest volume of sales transactions...
- Dubai’s real estate market recorded 8,897 sales transactions worth US$6.2 billion
- The transactions were the highest volume of sales transactions for June in the past nine years
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e& pledges $6 billion to advance connectivity in 16 countries
Barcelona, Spain -- e& Friday pledged to invest $6 billion between 2024 and 2026 in technological advancement, infrastructure development, and...
Business
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Business
SEWA discusses water desalination technologies for sustainability
SHARJAH, UAE - Sharjah Electricity, Water and Gas Authority (SEWA) participated in a discussion on modern and innovative technologies in...
Science
China third-largest investor in UAE, its top trading partner
The mutual investments between the two countries are witnessing continuous growth in various economic and commercial sectors, most notably real...
Business
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Business
JCC discusses trade, commerce in economic summit in France
AMMAN, JORDAN - The Jordan Chamber of Commerce (JCC) took part in the fourth Arab-French Economic Summit 2023 in Paris....
- Jordan Chamber of Commerce spoke of closer ties with trade and commercial bodies in the European Union member states.
- Topics like environment and water, industry, modern construction projects, food, nutrition, healthcare, banking, medicine, funds, climate were discussed.
Business
UAE issues license for electric vertical takeoff and landing aircraft
DUBAI, UAE - The UAE Regulations Lab has issued a license for an electric cargo aircraft to promote eco-friendly transportation...
- The license aims at reducing carbon emissions by encouraging the adoption of clean energy and leveraging technology.
- It also aims at using innovation to redefine the logistics sector's future and its impact on the environment and climate.
Business
etisalat by e& announces first 5G satellite communications in UAE
ABU DHABI, UAE - etisalat by e& announced on Saturday the implementation of the Eutelsat Quantum satellite solution, becoming the...
- etisalat became the first telecommunications company in UAE to expand 5G network capabilities over a software-defined satellite.
- This deployment was a result of rigorous testing with customers for over a year to rapidly scale up the 5G mobile network deployment.