UAE approves Dubai Metro Blue Line project
DUBAI, UAE - Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has approved the...
Geostrategy
EGA begins work on pilot plant to convert bauxite residue into manufactured soil
ABU DHABI, UAE – Emirates Global Aluminum (EGA) on Thursday announced the construction of a pilot plant to convert bauxite...
Business
Business
Lebanon bans top officials of five banks from travel
A prosecutor in Lebanon has issued travel bans against the heads of the boards of five Lebanese banks as a...
- Ghada Aoun, the judge, issued the bans against Salim Sfeir of Bank of Beirut, Samir Hanna of Bank Audi, A Sehnaoui of SGBL, Saad Azhari of Blom Bank, and Raya Hassan of Bankmed
- She has not charged any of them with a crime
Geostrategy
Condemnation pours in after Houthi attack on Saudi refinery
From the UAE to Egypt, Jordan, and Bahrain, and from the OIC to the Arab Parliament, the attack is being...
- Regional and global condemnation is pouring in after a drone strike by the Houthi rebels of Yemen hit Saudi Arabia
- The pre-dawn attack on Friday caused a fire but did not disrupt supplies, officials have said
Business
Abu Dhabi Police intercept 1.5 tons of contraband, worth $40m
This action, among others, could be quite helpful in getting the UAE out of the so-called grey list of the...
- The Anti-Drug Section at the ADP’s Criminal Investigation Department (CID) detected a suspicious shipment
- It had arrived from a neighboring country at Khalifa Port, and was apparently meant to travel to Europe
Business
UAE, Bangladesh to expand cooperation in trade, investment
The UAE-Bangladesh Business Forum discussed ways to enhance cooperation between the two countries in the field of trade and investment,...
- An MoU was signed between the two to establish a joint UAE-Bangladesh Business Council.
- The UAE-Bangladesh Business Forum was held at DP World Pavilion at Expo 2020 today in the presence of ministers.
Business
Dubai records $3.64 bn worth of weeklong real estate transactions
Dubai witnessed real estate and properties transactions worth AED13.4 billion ($3.64 bn) during the week ending 11 March 2022, according...
- The top three transactions were a plot of land in Trade Centre Second sold for AED198.15 million, followed by a plot of land that was sold for AED160.14 million in Palm Jumeirah.
- The sum of the amount of mortgaged properties for the week was AED3.83 billion, with the highest being a building in Palm Jumeirah, mortgaged for AED1 billion.
Business
Sharjah Chamber and Argentina to foster ties between businesses
The Sharjah Chamber of Commerce and Industry (SCCI) and an Argentinian delegation discussed ways to enhance cooperation between the business...
- Sharjah Chamber and a delegation from Argentina discussed economic, trade and investment relations at a forum.
- Abdallah Sultan Al Owais, Chairman of the SCCI highlighted the importance of joint work to advance the existing relations.
Business
DP World revenue up by 26.3 percent
The adjusted EBITDA growth was 15.3 percent ($3.828 bn) and capital expenditure $1.393bn.
- The revenue increase from $2.245 billion to $10.778 billion is supported by acquisitions and new concessions including Angola, Unico and Transworld.
- Like-for-like non containerized revenue grew 9.5 percent with a strong performance from the Feedering business.
Geostrategy
Qatar third Gulf country to become major non-NATO ally of US
Qatar became the third country in the Gulf region after Kuwait and Bahrain to be designated by the United States...
- The move gives Qatar special economic and military privileges in its relationship with the US.
- The US and Qatar have had close relations for years, collaborating on a number of issues, including the evacuation of Afghan refugees after Taliban takeover.
Business
UAE, New Zealand partner to strengthen trade relations
According to Statistics New Zealand, the total two-way trade between New Zealand and the UAE in 2021 reached AED8.63 billion...
- ECI and NZEC have agreed to promote the UAE and New Zealand exports and export-related investments
- They will provide tailored trade credit insurance and financial guarantees, backed by their governments
Business
Aramco JV inks China deal
The refinery, in China’s Panjin, should be operational by 2024.
- The liquids-to-chemicals complex is being built by Huajin Aramco Petrochemical Company (HAPCO), of which Aramco is a part
- The other members of the JV are North Huajin Chemical Industries Group Corporation and the Panjin Xincheng Industrial Group
Most Read
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
UAE approves Dubai Metro Blue Line project
DUBAI, UAE - Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has approved the...
Geostrategy
Company News
Burjeel begins trading on ADX
Business
Latest News
Al Sagr to cut capital
Business
Almarai posts profit in Q3
Business
‘Culture is prerequisite for peace in the world’
A robust cultural and creative sector remains at the heart of the UAE’s growth strategy and to give it a...
Arts & Culture
Paris Peace Forum: Queen Rania calls for paradigm shift in response to global crises
The Queen explained that the global refugee crisis has reached "epic proportions" with the number of displaced people around the...
Technological innovations drive climate action across GCC, say UAE, Saudi leaders at COP27
The Kingdom has moved from ambition to action during the past two years to empower people, protect the planet and...
Economy
Most Read
Business
GE, IRENA sign pact at COP27 to support energy security
SHARM EL SHEIKH, EGYPT - GE (NYSE:GE) signed a framework agreement with the International Renewable Energy Agency (IRENA) to support...
- GE, IRENA agreed to cooperate across several aspects including decarbonisation, thought leadership, adoption and sustainable use of renewable energy.
- GE and IRENA will explore how to jointly support decarbonisation efforts in critical markets and sectors.
Economy
TotalEnergies CEO heckled by climate activists at COP27
Sharm el Sheikh, Egypt—French giant TotalEnergies' chief executive was confronted by climate activists Friday at the COP27 summit in Egypt, where...
- The company's Chief Executive Patrick Pouyanne was confronted by a number of activists, forcing him to briefly take cover in the Guinean pavilion
- Global Witness estimates that the number of lobbyists at this year's climate summit has increased by 25 percent compared to last year's gathering in Glasgow
Geostrategy
Bahrainis vote to elect members to Council of Representatives
People are choosing their candidates for the 40-member Council of Representatives, one of the two chambers of the bicameral parliament.
- People are choosing their candidates for the 40-member Council of Representatives, one of the two chambers of the bicameral parliament
- Those living abroad or visiting foreign countries had an advance polling on Tuesday in the 37 voting centers set up in diplomatic missions across the world