Oman to expand production of green hydrogen to boost non-oil economy
Hong Kong - The government of Oman’s targets to expand local green hydrogen production could support key credit metrics, such as...
Business
Business
EGA, Ma’aden tech cooperation
The two will explore potential collaboration in the aluminum value chain.
- The two firms will also consider cooperation in managing by-products from processes in the aluminum value chain
- EGA has developed its own aluminum smelting technology for more than 25 years.
Business
DFSA regime to provide whistleblowers enhanced legal protection
Enhanced legal protection will be provided to persons who report financial misconduct internally within the entities regulated by Dubai Financial...
- DFSA regulatory regime for whistleblowing is the first of its kind to be introduced by a financial service regulator in the UAE.
- The regime applies to all DFSA Regulated Entities operating in or from the Dubai International Financial Centre.
Science
KSA: Third Covid wave saw one death per 100,000 infections
The first wave of the pandemic spanning April to the end of November 2020 witnessed 267 deaths for each 100,000...
- The first wave of the pandemic spanning April to the end of November 2020 witnessed 267 deaths for each 100,000 cases
- During the second wave between March and August 2021 the death rate lowered to 99 cases for each 100,000 infections
Business
dnata to expand cargo operations into Germany by acquiring Wisskirchen
dnata announced expansion of its European footprint through the planned acquisition of Germany-based Wisskirchen Handling Services (Wisskirchen). Subject to government...
- dnata has executed agreements with the owner of Wisskirchen, Oliver Hellwig, to acquire 100 percent of the shares in the company
- The acquisition is subject to approval by the Federal Ministry for Economic Affairs and Climate Action in Germany
Business
ADDC, Abu Dhabi University join hands for energy innovations
The Abu Dhabi Distribution Company (ADDC), a subsidiary of Abu Dhabi National Energy Company (TAQA Group), has signed a Memorandum...
- The cooperation aims to promote ties between both entities through training programs and knowledge exchange
- The agreement was signed at ADU’s main campus by Saeed Al Suwaidi, Managing Director, ADDC, and Professor Waqar Ahmad, Chancellor, ADU
Business
SFDA, SBA partner to create media content on health, food
The agreement aims to create joint media sponsorship opportunities that serve both sides and to establish specialized media publications
- The agreement aims to create joint media sponsorship opportunities that serve both sides and to establish specialized media publications
- The areas of cooperation include educating consumers on the safe use of cosmetic products, making television programs and providing visual and audio content
Economy
Saudi Arabia hosts annual joint meetings of Arab financial institutions
The meetings are taking place under the patronage of the Custodian of the Two Holy Mosques and Saudi ruler King...
- The Arab financial institutions hold these annual meetings to review the performance of each entity and the topics on its agenda
- The meetings also reportedly contribute to financing development projects in vulnerable countries
Business
Middle East and Africa may add 14 GW of wind power capacity
The Middle East and Africa can add 14 gigawatts of new wind power capacity in the next five years, according...
- Between 2022 and 2026, South Africa (5.4 GW), Egypt (2.2 GW), Morocco (1.8 GW) and Saudi Arabia (1.3 GW) would lead the new wind capacity addition
- The report said 2021 was the second-best year ever for the global wind industry after 2020 with almost 94 GW of capacity added
Economy
Foreign Direct Investment into UAE reaches $20.7 billion in 2021
UAE received $20.7 billion in Foreign Direct Investment in 2021, recording a 3.9 percent growth over 2020. The country’s FDI...
- The country’s FDI balance now stands at AED 630 billion ($171.6 billion) by the end of 2021, a 13.7 percent growth over 2020.
- UAE's outward FDI flows reached nearly AED 82.6 billion ($22.5 billion) in 2021, with an annual growth of 19.1 percent.
Economy
UAE launches database to monitor energy, water consumption
Announced in July 2021, the national program aims to boost efficiency by 40 percent across the three most energy-consuming sectors...
- The database is part of the initiatives of the National Water and Energy Demand Management Program.
- It will help gauge energy and water consumption in government buildings and identify buildings with the highest consumption rates to develop rationalization programs.
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Oman to expand production of green hydrogen to boost non-oil economy
Hong Kong - The government of Oman’s targets to expand local green hydrogen production could support key credit metrics, such as...
Business
Company News
Latest News
China unveils plan to shore up industrial economy
Beijing will adopt industry, region and enterprise-specific measures to secure the sound development of key industries.
Economy
UAE, Turkmen presidents’ meet, witness signing of MoUs, pacts
The agreements included one between the foreign affairs ministries of the two countries and an MoU in the agricultural and...
Geostrategy
DMCC digitises gold trading through tokenisation of Comtech gold bullion
DMCC Tradeflow is an online platform for registering the ownership of commodities stored in UAE facilities.
Business
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Business
OPEC+ isn’t discussing output increase: Saudi minister
The "categorical denial" has come after the Wall Street Journal reported on Monday that Saudi Arabia, which co-leads the OPEC+...
- The Wall Street Journal reported on Monday that Saudi Arabia and other members were considering an "increase of up to 500,000 barrels a day".
- Saudi officials have vigorously defended the recent production cut in the face of criticism from Washington, saying it was driven purely by market conditions
Infographics
Global economic woes take toll on GCC contracts
High inflation and the West's sanctions on Russia for its Ukraine invasion besides the supply chain disruptions caused by China's...
- The increase in benchmark rates by global and regional central banks to combat runaway inflation also affected project funding.
- The UAE overtook Saudi Arabia as the largest projects market in the GCC during Q3-2022.
Business
Masdar Green acquires properties
The 3 Pearl rated properties in Masdar City are worth $254m.
- The acquisition follows a $200 million green loan secured from First Abu Dhabi Bank (FAB) in January to help finance the REIT’s growth.
- Masdar Green REIT was established by Masdar as an investment vehicle for professional investors to invest in a sustainable, income-generating real estate portfolio in Masdar City.