ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...
Economy
TAQA, GS Inima and EWEC seal deal
Abu Dhabi's Shuweihat 4 desalination project secures $444 million.
Business
Business
Binance, crypto firm, to hire more than 100 people in UAE
Binance, the world's biggest crypto exchange in trading volume, will hire more than 100 people in the UAE, days after...
- The firm's links with the Gulf state have deepened in recent months as the UAE tries to style itself as the world’s new digital assets hub and develops regulation
- The $2.1 trillion crypto sector is still subject to patchy regulation across the world. US sees high risks in crypto
Business
Aldar buys Ras Al Khaimah’s Rixos Bab Al Bahr hotel in $210m deal
Aldar Investment acquired the 715-room hotel that opened its doors in 2014, marking the company's second investment in the emirate...
- Aldar Investment acquired the 715-room hotel that opened its doors in 2014, marking the company's second investment in the emirate this year
- Aldar Investment has also secured development rights for an additional 250,000 square feet for residential and commercial use, it said in a statement
Business
Dubai’s real estate market to ramp up going forward: Report
Over 84 percent of real estate professionals expect competition within Dubai’s real estate market to ramp up going forward, according...
- More than two-thirds (68 percent) of respondents in Dubai said they had experienced growth over the previous twelve months
- In November 2021, Dubai registered the best month of sales on record, with a total of 6,989 transactions worth AED17.95 billion
Geostrategy
Jordan, US discuss ways to enhance strategic partnership
Jordan’s Deputy Prime Minister Ayman Safadi and US Secretary of State Antony Blinken discussed the new MoU for the strategic...
- A new MoU between the two countries frames the US aid for Jordan, replacing the current memorandum, which expires in September 2022
- According to the current MoU, the US has provided Jordan with annual support over the past four years, which amounted to 1.65 billion in 2021
Business
UAE, Colombia finish phase 1 of Comprehensive Economic Partnership Agreement
UAE-Colombia non-oil trade was valued at AED991 million ($269.84 million) last year. Under the partnership, this figure could increase threefold...
- The agreement is expected to help strengthen trade and investment relations between the two countries
- The UAE’s Ministry of Economy has said it is continuing joint efforts to reach a final draft of the agreement
Business
ADPG profit up Dh397m
The company’s revenue rose to AED 3.9 billion.
- AD Ports Group has evolved into a vertically integrated ecosystem of businesses that include Economic Cities & Free Zones, Ports, Logistics, Maritime, and Digital services
- As a strategic gateway to Abu Dhabi, AD Ports Group generated 21 percent of all non-oil related GDP in the Emirate, according to Oxford Economics
Economy
Jadwa Investment says Saudi economy to grow 7.7% in 2022
The economy of Saudi Arabia is forecast to grow 7.7 percent this year propelled by the expansion of the kingdom's...
- The firm sees the oil sector increasing by 15.5 percent, but it also estimates the level of ‘non-oil activities’ to grow by 3.4 percent
- It made the forecast as it revealed the Kingdom’s non-oil Purchasing Managers' Index hit its highest level for three months
Economy
NEOM subsidiary sets up Hydrogen and Innovation Development Center
ENOWA, the energy, water and hydrogen subsidiary of NEOM, has established the region's first Hydrogen and Innovation Development Center (HIDC)....
- The Hydrogen and Innovation Development Center will be a testing ground for new technologies in the clean energy industry.
- The Center will also be a collaborative learning community for research institutions focused on hydrogen and the circular carbon economy.
Business
ADQ of Abu Dhabi to buy majority stake in Unifrutti Group
ADQ, Abu Dhabi wealth fund, will buy a majority stake in Unifrutti Group, a fruit and vegetable producer, marketer, and...
- The acquisition is designed to secure food supply amid pandemic and geopolitical tensions
- The investment will help the group expand its footprint globally, along with enhancing food security in the UAE
Business
ADEX, Korea Eximbank to collaborate on export financing
The two sides discussed co-financing solutions for Korean organisations seeking to import goods and services from the UAE.
- The two sides discussed co-financing solutions for Korean organisations seeking to import goods and services from the UAE
- ADEX was established by Abu Dhabi Fund for Development (ADFD), to drive diversification and growth of the UAE export economy
ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...
Economy
Company News
Latest News
AD Ports Group and Transmar launch new Pakistan Service
The new container shipping service links Karachi with the region’s major ports within UAE, KSA, Egypt, Jordan, Sudan and Djibouti.
Business
Sheikh Zayed Festival to air World Cup matches for fans
Abu Dhabi, UAE— The Sheikh Zayed Festival will provide a number of screens for the regular airing of the FIFA...
Arts & Culture
China’s natural gas output up 12.3% in October
The country produced 18.5 billion cubic metres of natural gas in October, up 12.3 percent from a year ago.
Economy
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Arts & Culture
Qatar’s excellence in organizing the World Cup refutes all allegations, says IPU head Duarte Pacheco
“Qatar has done everything in the best way, I don't understand some critics, because we didn't find these kind of...
- Qatar has prepared an integrated infrastructure for the FIFA World Cup, says Inter-Parliamentary Union President Duarte Pacheco
- Pacheco also praises the labor reforms implemented by the State of Qatar to protect the rights of workers
Arts & Culture
Qatar calls for ‘civilized communication’ as FIFA World Cup opens with fervor; host nation loses first match
Fireworks, cultural performances add to the grand opening ceremony attended by regional leaders, heads of delegations and sports panels and...
- Fireworks, cultural performances added to the grand opening ceremony attended by regional leaders, heads of delegations and sports committees and federations, dipomats and fans
- Qatar becomes the first home team to lose its opening World Cup match as Ecuador cruises to a 2-0 victory over the host
Economy
Abu Dhabi launches smart manufacturing index
ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) has launched the 'Abu Dhabi Smart Manufacturing Index',...
- The Index empowers manufacturers with the necessary knowledge and training to initiate an Industry 4.0 transformation journey.
- It breaks down sophisticated concepts into six building blocks to provide a clear and easy-to-follow roadmap.