Climate chaos impact on millions frames discussions at COP28
With the countless repercussions of extreme weather conditions, the planet is witnessing increasing political unrest, deaths and diseases.
COP28 UAE
CBUAE, Islamic finance organizations discuss sustainable practices
ABU DHABI, UAE - The Central Bank of the United Arab Emirates (CBUAE) hosted several events with Islamic finance infrastructure...
Business
Geostrategy
Leonardo to enhance naval surveillance of Qatar
The announcement was made at DIMDEX, the flagship regional event for the international maritime defence and security, going on in...
- The announcement was made at DIMDEX, the flagship regional event for the international maritime defence and security, going on in Doha until March 23
- Leonardo, a high-tech global company, is one of the top companies in the world in the sector of Aerospace
Geostrategy
Qatar to disburse cash assistance to families in Gaza Strip
Chairman of Qatar's Gaza Reconstruction Committee Ambassador Mohammed Al Emadi announced cash assistance to needy families in the Gaza Strip....
- Qatar Fund for Development will also cooperate with Qatar's Gaza Reconstruction Committee in the process.
- The distribution process will take place through the United Nations distribution centers located in Gaza.
alfanar invests $1.3bn in UK
The money will go in producing aviation fuel from waste.
- The Lighthouse Green Fuel project generates more than 180 million liters of sustainable aviation fuel annually in the UK
- This amount of sustainable aviation fuel is sufficient to power 15,000 flights per year, reducing harmful carbon emissions from conventional fuels by over 700,000 tons annually
Business
Dubai SMEs bag contracts worth $250m under procurement program
Emirati entrepreneurs and national enterprises in Dubai won contracts worth AED 921.6 million ($250 million) from various local and federal...
- Since 2002, GPP has facilitated contracts worth over AED 8.4 billion for Dubai SME members from 69 supporting entities across the government, semi-government and private sectors.
- Expo 2020 Dubai topped the list of local government support agencies of GPP last year with contracts worth AED 161.7 million.
Business
Vietnam experts see Middle East as promising market for country’s exporters
Vietnam has signed economic, trade and scientific-technological cooperation agreements with five GCC countries.
- Vietnam has mostly traded with six member nations of the Gulf Cooperation Council in the Middle East region.
- Trade between Vietnam and the GCC countries has surged from US$2.7 billion in 2012 to US$12.5 billion in 2021.
Business
Sharjah approves $17.18m to settle citizens’ debts
The Sharjah Debt Settlement Committee (SDSC) approved an amount of AED63.11 million ($17.18m), to settle 120 cases of citizens' debts.
- Rashid Ahmed bin Al Sheikh, Chief of the Sharjah Emiri Court and Head of the Committee, confirmed this
- Payment of debts of people in Sharjah from various categories within the 22nd batch, was cleared
Geostrategy
UN Population Fund hails Jordan’s health sector achievements
UNFPA reviewed key areas of cooperation with Jordan in the health sector, particularly during the COVID-19 pandemic.
- Jordan’s Minister of Health Feras Hawwari has discussed areas of cooperation with UN Assistant Secretary-General and UNFPA Deputy Executive Director/Programs, Diene Keita.
- The UNFPA agreed to maintain coordination and collaboration with the ministry on specified objectives.
Business
Warner Music Group buys out Qanawat Music
Warner Music Group has bought out Qanawat Music, the Middle East and North Africa’s leading music distributor, for an undisclosed...
- This comes as part of the multinational entertainment and record label conglomerate's plans
- Qanawat Music will act as WMG's key domestic distributor and source of upstreaming opportunities
Business
ADNOC to collaborate with Germany for clean hydrogen
Abu Dhabi National Oil Company (ADNOC) has entered into a partnership with German counterparts to speed up collaboration in clean...
- The agreements were announced during the visit of Dr. Robert Habeck, German Federal Minister for Economic Affairs and Climate Action, to the UAE
- As part of its ambitious decarbonisation drive, the German government’s National Hydrogen Strategy expects clean hydrogen demand of up to 3 million tonnes per annum (Mtpa) by 2030
Economy
90 percent of Arab transactions made in six currencies: AMF director general
Six currencies account for 90 percent of transactions in the Arab world, said Dr. Abdulrahman bin Abdullah Al Hamidy, Director-General...
- The currencies are the Emirati Dirham, the Saudi Riyal, the Egyptian Pound, the Jordanian Dinar, the US Dollar and the Euro.
- Buna Payment Platform is the first regional cross-border and multi-currency payment system that supports Arab transactions in investment: AMF
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Climate chaos impact on millions frames discussions at COP28
With the countless repercussions of extreme weather conditions, the planet is witnessing increasing political unrest, deaths and diseases.
COP28 UAE
Company News
Bayanat AI to list shares on ADX
Business
Reliable Engineering opens plant
Business
Latest News
MSC World Europa, 22-deck cruise ship, docks at Doha for World Cup
Doha, Qatar—The 22-deck cruise ship MSC World Europa (floating hotel) has docked at Doha Port for FIFA World Cup fans...
Business
UAE President meets Saudi Crown Prince on sidelines of G20 Summit
The two leaders discussed mutual ties, including the agenda of the summit.
Geostrategy
ADGM Courts launches blockchain technology in Abu Dhabi
Abu Dhabi, UAE— Abu Dhabi Global Market (ADGM) Courts has announced the first-ever introduction of blockchain technology for the global...
Business
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Business
Real estate transactions worth $390m recorded Tuesday in Dubai
Dubai, UAE -- Dubai real estate market recorded transactions worth AED1.8 billion ($490 million) on Tuesday, Dubai Land Department said....
- The transactions included 553 sales transactions worth AED1.43 billion, 107 mortgage deals valued at AED387.11 million and 12 gift deals amounting to AED43.73 million.
- The sales included 508 villas and apartments worth AED1.09 billion and 45 land plots worth AED341.04 million.
Business
Liquidity Group first Israeli firm to join ADIO Innovation Programme
Abu Dhabi, UAE---Liquidity Group, a FinTech company, became the first Israeli firm to join the $545 million Abu Dhabi Investment...
- The partnership will support Liquidity Group’s establishment of an R&D centre in Abu Dhabi to develop its proprietary technology-enabled underwriting algorithm.
- The firm’s patented machine learning and decision science technology has enabled the firm to deploy more capital through more deals faster than any firm in capital markets history
Business
Amanat 9M growth at 6%
Firm's adjusted net profit grew to $16.5 million in Jan-Sep 2022.
- Adjusted total income grew 17 percent to $28.9 million in 9M-2022.
- Adjusted EBITDA grew 19 percent to $29.8 million (AED110.1 million) in 9M-2022.