DEWA records 12.5 million digital transactions in 2023
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that its customers conducted around 12.5 million digital transactions in...
Business
FAB issues first Sukuk globally in 2024
ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps,...
Business
Videos
UAE and Egypt home to leading startups in 2021
The UAE eyes around 20 unicorns, the start-ups valued at $1 billion-plus each, by 2031. These high-value startups will be...
- Dubai has set up a $100 million venture capital fund in order to provide financial support to fintech startup companies.
- Startups affiliated with Hub71, Abu Dhabi’s global tech ecosystem, have bagged AED1.5 billion in investments since its inception in 2019 and created about 1,000 jobs.
Economy
Dubai ranked first globally in attracting greenfield FDI projects
The emirate attracted 418 greenfield FDI projects, Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said....
- Both FDI projects and FDI job creation witnessed a significant increase of 36 per cent in 2021, with an estimated 24,868 jobs in 2021, compared to 18,325 jobs in 2020.
- The United Kingdom was the biggest source of FDI, accounting for 27 percent of total share of the FDI capital, followed by the US, France and Germany.
Business
Jordan sees increased food demand in Ramadan
Medium- and low-income Jordanian families spend 45 per cent of their income on food, and are the most impacted group...
- Amman Chamber of Trade President Khalil Haj Tawfiq said this, noting that food sector sales picked up after falling in the first four days of Ramadan
- Staple food items remained in sufficient supply during Ramadan, adding that 85 per cent of the Kingdom's food needs are imported from abroad
Business
Flydubai posts 114% jump in passenger bookings in Q1
Flydubai has reported a 114 percent jump in passenger bookings in the first quarter of the year. The airline said...
- The airline said it has operated 19,000 flights and carried 2.35 million passengers during the period
- It also witnessed an increase in demand for connecting traffic with 43 percent of the passengers connecting to the carrier’s network
Economy
UN stresses strategic approach to address Palestinian economic situation
The United Nations has stressed on a more strategic approach to address the economic and fiscal crisis faced by the...
- A UN report warned of an uncoordinated approach to address the current political, economic and security challenges in the Occupied Palestinian Territory.
- The report urges Israelis, Palestinians, regional States, and the broader international community to concrete steps to encourage the parties to further engage with each other.
Business
Aafaq Islamic Finance picks new CEO
The company has appointed Hisham Hammoud to the post.
- Hisham Hammoud is considered one of the pioneers in the banking and financial sectors
- He has more than 25 years of experience in the fields of banking and Islamic banking
Economy
Saudi King Salman enters hospital for ‘examinations’
King Salman entered King Faisal Specialist Hospital in the coastal city of Jeddah on Saturday ‘to conduct some medical examinations’.
- The 86-year-old King Salman has ruled the top oil exporter and the Arab world's biggest economy since 2015
- He was most recently hospitalized in March, for ‘successful medical tests’ and to change the battery of his pacemaker
Arts & Culture
Sharjah, Tunisia to cooperate on cultural heritage preservation
The Tunisian side highlighted the importance of joining forces with Sharjah, which will reflect positively on the efforts to protect...
- SIH Chairman Abdul Aziz Al Musallam and Tunisian Culture Minister Hayat Katat Al Garmazi recently met to discuss bilateral cooperation
- They are said to have discussed tie-ups in the field of protecting tangible, intangible heritage, and heritage under water
Business
Oman natural gas production sees slight increase
The country’s National Center for Statistics and Information has announced that the country’s production of natural gas at the end...
- The consumption of natural gas in industrial areas rose 13.9 percent in March this year, compared to the same period in 2021
- Gas consumption witnessed a decrease in oil fields by 7 percent and in power plants by 3.3 percent at the end of last March
Business
Jeddah Yacht Club Marina Zone all set for Jeddah Season 2022
Jeddah Yacht Club Marina zone will receive on Sunday the visitors to the Jeddah Season 2022 with a variety of...
- The Marina Yacht Club zone is known for its magnificent sea view
- The club contains a marina for ships and boats up to 135 meters in height
DEWA records 12.5 million digital transactions in 2023
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that its customers conducted around 12.5 million digital transactions in...
Business
Company News
UAE, Indonesia to cooperate in energy sector
Geostrategy
Arriyadh posts 20% profit drop
Business
Latest News
GCC banks earned $18.6bn in interest income in Q3: Kamco
During Q3-2022, non-interest income declined to a four-quarter low of $7.4 billion as compared to $7.8 billion during Q2-2022.
Economy
Aldar partners with Nobu to develop luxury hotel on Saadiyat Island
Abu Dhabi, UAE— Aldar Properties has partnered with Nobu Hospitality to launch a new luxury hotel, branded residences, and a...
Business
Kuwait Central Bank Issues Bonds, Tawarruq worth $792 million
The new securities bear a maturity term of six months and a return rate of 4.25 percent.
Economy
Most Read
Geostrategy
European Education Area to take EU-UAE learning cooperation to the next level, says top official
It will open opportunities for Emirati youth to study in European Union, further strengthening the existing people-to-people ties, adds Margaritis...
- The European Education Area offers a potential multi-level cooperation between the European Union and the United Arab Emirates, said a top EU official
- It will open opportunities for Emirati youth to study in European Union, adds Margaritis Schinas, adds VP of the European Commission for “Promoting Our European Way of Life”
Geostrategy
Islamic nations seek to turn crisis into opportunity with enhanced relations, trade amidst recession fear
At the 38th Ministerial Session of COMCEC, leaders of Islamic countries discuss ways to enhance bilateral and trade relations to...
- At the 38th Ministerial Session of COMCEC, leaders of Islamic countries discuss ways to enhance bilateral and trade relations to help region and the world evade recession
- The agenda of the ministerial COMCEC committee meeting includes improving transport & communications and developing sustainable & competitive tourism sectors
Science
In Hawaii world’s largest volcano erupts for first time in decades
Hawaii's Mauna Loa, the largest active volcano in the world, has erupted for the first time in nearly 40 years,...
- Mauna Loa has been showing signs of building to an eruption for years, according to the USGS.
- The USGS which said the ongoing eruption was visible from Kona, a town on the west coast of Hawaii's main island some 72 kilometers from the volcano.