UAE, NeoNautica collaborate to develop Blue Pass platform
DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in...
Business
Geostrategy
Macron welcomes Saudi Crown Prince, two discuss energy supply
French President Emmanuel Macron on Thursday warmly welcomed Saudi Arabia's Crown Prince Mohammed bin Salman for talks in Paris, with...
- Crown Prince and the French President held an expanded meeting in the presence of the delegations of the two countries, according to Saudi Press Agency
- For western countries desperate to find new sources of energy, the 36-year-old de-facto leader of the world's biggest oil producer has become an essential figure.
Geostrategy
Saudi Crown Prince ends Europe trip with deals, MoUs
Strategic partnership remains in focus as Mohammed bin Salman leaves France after heading a wide-ranging talks along with French President...
- Strategic partnership remains in focus as Mohammed bin Salman left France today after heading a wide-ranging talks along with French President Emmanuel Macron
- Earlier, a delegation of senior Saudi ministers held separate talks with their French counterparts at at the Elysée Palace
Economy
US Department of State releases 2022 Investment Climate Statements
The US Department of State released on Thursday the 2022 Investment Climate Statements, which help US companies make informed business...
- These help US companies make informed business decisions by providing up-to-date information on the investment climates of more than 160 countries.
- The statements also assess how governments uphold international labor standards and combat corruption among other considerations.
Geostrategy
UAE, Kenya to begin negotiations on free trade agreement
UAE and Kenya announced their intention to begin talks for a Comprehensive Economic Partnership Agreement (CEPA) between the two countries...
- UAE and Kenya announce their intention to begin talks for a Comprehensive Economic Partnership Agreement
- If inked, the CEPA pact will be the first free trade deal between UAE and an African nation
Business
Aldar Properties profit up 44 percent
Net Profit of Aldar in Q2 2022 amounted to $229 million.
- Aldar's group sales rose to a record level of AED 5.33 billion ($1.45bn) for H1 2022.
- Sales surge was driven by strong domestic and international demand for existing inventory.
Business
ADNOC eyes stake in key Egypt firm
ADNOC Distribution will acquire 50 percent stake in TotalEnergies Egypt.
- ADNOC Distribution said it will acquire a 50 percent stake in TotalEnergies Egypt for about US$186 million
- The acquisition will also see the refurbishment of several service stations to full ADNOC branding
Business
FAB profit up 50 percent
The company's net profit amounted to $2.18 billion.
- FAB said the total income was AED12.5 bn, up 31% year-on-year
- Customer deposits reached AED648 billion, up 8% sequentially
Business
Etihad profit for H1 $296 million
The profits rose despite 60 percent hike in fuel costs.
- Etihad carried 4.02 million passengers in H1 2022, over 3 million more than last year (H1 2021: 980,000), with an average seat load factor of 75 percent.
- Passenger loads increased consistently over the first six months, rising by 21.9 percentage points as travel demand recovered.
Business
UAE’s Central Bank sanctions 6 banks operating in the country
Financial sanctions covers banks’ failures to achieve appropriate compliance regarding required due diligence and reporting procedures and standards. All banks...
- CBUAE implemented certain provisions of Common Reporting Standard (CRS) for the sanctions.
- Banks were sanctioned after failing to comply with due diligence and set standards and procedures.
Economy
Saudi economy to be fastest-growing economy in 2022, says IMF
The International Monetary Fund (IMF), in its World Economic Outlook, 2022 said that the Saudi economy will register a 7.6...
- The International Monetary Fund in its World Economic Outlook, 2022 says the Saudi economy will register a 7.6 percent growth rate this year
- Saudi Arabia's expected growth, as per IMF, would be the highest among advanced, emerging market and developing economies
UAE, NeoNautica collaborate to develop Blue Pass platform
DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in...
Business
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Infographics
Miami to host next edition of Global Priority Summit in 2024
According to FII CEO Richard Attias, the report on the Global Priority Summit will be ready by October 2023, and...
Economy
WTO 2023 to put spotlight on trade role in sustainable future
GENEVA, SWITZERLAND - The WTO’s annual Public Forum 2023 will focus this year on how trade can contribute to a...
Science
UAE, Costa Rica start talks to form economic partnership agreement
UAE minister said that the emirates will continue its efforts to build partnerships with strategic global markets under the country’s...
Business
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Economy
AI partnership to boost Abu Dhabi sustainability efforts
Abu Dhabi, UAE - The Technology Innovation Institute (TII) said Monday its AI and Digital Science Research Center (AIDRC) has...
- The Technology Innovation Institute's AI and Digital Science Research Center will partner with Mohamed bin Zayed University of Artificial Intelligence.
- Over a period of three years, the researchers will work on developing advanced AI models for cybersecurity and smart city applications.
Science
UAE urges investment, action for water sustainability at UN meet
DUBAI, UAE – UAE Minister of Climate Change and Environment Mariam bint Mohammed Almheiri emphasized the importance of collaboration, data...
- The UAE is on track to reduce total water consumption of its food sector by over 15 percent despite doubling production by 2030.
- The UAE’s national plan - the Water Security Strategy 2036 - ensures that programs are implemented on the supply and demand side.
Business
UAE, Pakistan discuss ways to enhance mutual trade, investment
The UAE accounts for over 40% of Pakistan's trade with Arab countries, with non-oil exports from the UAE to Pakistan...
- UAE is Pakistan's leading investment partner in the Gulf and fifth at a global level, a report said at the end of 2021.
- The non-oil trade between the two hit the figures of $7 bn in 2022, marking an increase of 30 percent compared to 2021.