Najran extends MoU with Ayan for Commerce & Industry
Jeddah, Saudi Arabia - Saudi Arabia's Najran Cement Company has announced the extension of its non-binding memorandum of understanding (MoU)...
Economy
Egypt leads Arab world in population with 113m citizens
DUBAI, UAE – Egypt stands as the most populous Arab country with 113 million people, marking it the 14th largest...
Geostrategy
Business
Emirates NBD profit up 18 percent
The bank said it was the highest quarterly profit since 2019.
- The bank said the total income was up 3 percent year on year to AED 6.4 billion on improved loan mix and cheaper deposits.
- The bank’s total assets rose 1 percent to AED 694 billion despite the Turkish Lira depreciation, it said.
Business
UAE and South Korea sign agreement to boost ties
The UAE and South Korea have signed an agreement to boost ties between the two countries to develop entrepreneurship and...
- Under the terms of the MoU, the two parties will jointly design flexible partnership program during the next phase
- They will also cooperate in exchanging knowledge regarding the development of program, policies and legislation related to the entrepreneurship sector in the two countries
Economy
UAE’s central bank launches two new notes made of recyclable polymer
The Central Bank of the UAE (CBUAE) has launched two new banknotes, in five and ten dirham denominations, made of...
- The new banknotes are the third issue of the national currency, following the success of the initial 50-dirham polymer note.
- The bank said the new notes are more durable and sustainable than traditional cotton paper banknotes, lasting two or more times longer in circulation.
Business
UAE government holiday for Eid al-Fitr begins on 29th day of Ramadan
The holiday will last till the third day of the month of Shawwal, which is yet to be declared.
- The holidays will begin on Tuesday, the 29th day of Ramadan
- That date corresponds to April 30 on the Gregorian calendar
Business
ADNOC Drilling approves 2021 dividend
The company saw revenues increase by 8.2 percent.
- The company saw revenues increase by 8.2 percent, EBITDA of more than US$1 billion and 6 percent in net income growth
- The dividend will be paid to shareholders in accordance with Securities and Commodities Authority (SCA) regulations
Business
Red Sea Development Company to use biofuel for all tourist facilities
The company has chosen MAN Energy Solutions to provide 25 sets of biofuel generators for the sustainable tourism destination.
- The Red Sea destination will apparently use solar energy stations that include storage batteries with the system of MAN GenSets
- These generators will reportedly have engines that will let them use the climate-neutral B100 biofuel
Business
Tesla reports record profits
Tesla shares rose 5% to $1,026.99 in after-hours trading.
- Elon Musk's high-flying electric vehicle company notched a new record in quarterly profits of $3.3 billion
- This follows the unveiling of factories in Germany and the US state of Texas that have begun commercial deliveries
Business
UAE’s hospitality sector delivers strong results in Q1 2022
The uplift in overall performance was primarily driven by beachfront and luxury developments.
- The uplift in overall performance was primarily driven by beachfront and luxury developments
- The office market continued to perform well as rents in well-managed quality buildings rose
Business
Al Seer Marine signs VLGC deal
Al Seer Marine and BGN International sign the $134 million financial transaction.
- The deal was agreed and signed by ABGC DMCC, the joint-venture firm of Al Seer Marine and BGN International, an energy, trading, storage and transportation company.
- ABGC has two new VLGC’s on order with Hyundai Heavy Industries in Korea.
Business
AMEA Power awarded two projects
These solar projects in Morocco were part of a large international tender.
- The Moroccan Agency for Sustainable Energy (Masen) and the Ministry of Energy Transition and Sustainable Development announced the award of projects.
- The sites are located in Taroudant, in the Souss-Massa region, and in El Hajeb, in the Fès-Meknès region.
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Najran extends MoU with Ayan for Commerce & Industry
Jeddah, Saudi Arabia - Saudi Arabia's Najran Cement Company has announced the extension of its non-binding memorandum of understanding (MoU)...
Economy
Company News
Latest News
ADDED joins hands with Prototype to support technology innovation
Abu Dhabi, UAE— The Abu Dhabi Department of Economic Development (ADDED) has partnered with Prototype Interactive to support inventors in...
Business
UAE’s role in reconstruction of Mosul Heritage: Hope and will win over zealotry and exclusivism
"The revival of Mosul's heritage will reveal that the only way to live together is by believing in diversity as...
Arts & Culture
ADAFSA launches first livestock auction market in Abu Dhabi
ABU DHABI, UAE - The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) has announced the launch of the first...
Economy
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Business
DEWA to hold second General Assembly in December
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA), which is listed on the Dubai Financial Market (DFM), has announced...
- The assembly will vote on the recommendation of the Board of Directors to distribute a special one-time cash dividend of US$552 million to its shareholders.
- For the year 2022, DEWA intends to pay its shareholders a total dividend of $2.24 billion.
Business
Poland opens Representative Office in UAE to boost trade relations
Abu Dhabi, UAE---Poland has opened a representative office in UAE capital Abu Dhabi to fuel the growth of bilateral trade...
- The announcement of the launch was made at the Poland Business Forum, which started on Friday to discuss investment and trade cooperation between UAE and Poland.
- The forum was organized by the Abu Dhabi Department of Economic Development (ADDED), the Government of Silesia, and the Embassy of the Republic of Poland in the UAE.
Economy
Abu Dhabi to host Annual Investment Meeting in May 2023
The AIM Global 2023 is supported by the Ministry of Industry and Advanced Technologies, with the ADDED as a lead...
- The AIM Global 2023 is supported by the Ministry of Industry and Advanced Technologies, with the ADDED as a lead partner
- The meeting will be attended by decision-makers, investors, experts, and academic figures from all over the world