AI to contribute in enhancing low-emissions development
BONN, GERMANY - Artificial intelligence (AI) can make substantial contributions to climate-resilient and low-emissions development. UN Climate Change’s Initiative on...
Science
Al Ansari Financial Services okays dividend
The first proposed interim dividend is of $81 million.
Business
Business
Saudi finance minister calls for GCC cooperation
Saudi Arabia's finance minister, Mohammed bin Abdullah Al-Jadaan, has stressed the need for the promotion of the joint Gulf action,...
- During the meeting, the ministers reviewed the progress made on issues related to strengthening the financial and economic cooperation among the GCC states
- The meeting was chaired by the Minister of Finance, Chairman of the current session, Mohammed bin Abdullah Al-Jadaan
Economy
Iran’s trade transactions with neighbors tripled over past months: Official
With rise in trade transactions, the Iranian economic activity also grew notably
- National Security and Foreign Policy Commission members stress that optimum economic management was important for a better future.
- Spokesman of the Commisison Abbaszadeh-Meshkini said that the economic policies should be arranged in a way to make sure that the low-income people will not be harmed.
Economy
Dubai’s energy demand up by 10 percent in 2021, T&D losses down
DEWA achieved a new world record in electricity Customer Minutes Lost (CML) per year, recording 1.66 minutes in Dubai
- Energy demand in 2021 reached 50,202 gigawatt-hours compared to 45,712 gigawatt-hours in 2020.
- In 2020, DEWA reduced losses in electricity transmission and distribution networks to 3.3 percent, which is less compared to that in Europe and the US.
Business
Dubai Land Department and three firms team up to provide real estate data
Dubai Land Department (DLD) has signed memoranda of understanding (MoUs) with three companies that specialize in providing smart and advanced...
- The department sigs MoUs with Bayut, DXBinteract.com, and Property Finder.
- Data will be provided according to real estate construction, including the regional buying and selling prices.
Business
Arada secures $41m in finance
The money will fund Aljada mixed-use project in Sharjah.
- While AED37m will finance a villa complex within the Aljada community, AED115m will fund the construction of the final phase of the SABIS International School.
- Founded in 2017, Arada has since launched three communities in Sharjah. Its first project, Nasma Residences, became Sharjah’s fastest-selling community.
Business
FTA appeals to tax registrants to benefit from extension
The Federal Tax Authority (FTA) has called on tax registrants to benefit from the Cabinet Decision to extend the grace...
- The FTA reaffirmed that the Cabinet Decision provided an opportunity for the business sector to benefit from the reduction of the administrative penalties
- It said it continues to review and audit the records of tax registrants who have fulfilled the requirements prescribed in the law
Business
Financial scam websites victimize 137,000 Arabs daily
Five different types of financial frauds are prevalent in the Arab world, with 24 criminal methods being used to reach...
- According to a review of 503 fake adverts, the number of daily visits from potential victims of these fraudulent sites reaches 137,000 per day
- The study stated that five different types of financial frauds are prevalent in the Arab world, with 24 criminal methods used to reach the victims
Business
Aldar and EWEC sign clean energy deal
EWEC will supply clean energy to all Aldar owned and managed assets.
- Aldar has increased its ESG ratings within two major global benchmarks, the Dow Jones Sustainability Index and Sustainalytics.
- EWEC is one of the key parties enabling the implementation of Abu Dhabi’s Clean Energy Certificate scheme.
Business
Sharjah Chamber and Syria look to boost mutual trade
Sharjah and Syria are looking at ways to increase economic relations and enhance partnership between businessmen and traders.
- In this regard The Sharjah Chamber of Commerce and Industry (SCCI) received a Syrian delegation led by Kinan Zahreddine, Syrian Consul-General in Dubai
- The meeting also reviewed potential investment opportunities to support economic cooperation and enhance the partnership between businessmen
Business
AD Ports, Eni Abu Dhabi sign pact
The two firms will establish a marine logistics base at Mugharraq Port.
- Mugharraq Port was recently recognized as an international port facility.
- Its new status enables it to receive and service a host of international and local vessels.
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AI to contribute in enhancing low-emissions development
BONN, GERMANY - Artificial intelligence (AI) can make substantial contributions to climate-resilient and low-emissions development. UN Climate Change’s Initiative on...
Science
Company News
Walaa to merge with SABB
Business
Latest News
Jordan to host renewable energy investment forum
AMMAN, JORDAN - Amman is scheduled to host the Seventh International Investment Forum for Renewable Energy and Energy Efficiency in...
Geostrategy
Jordan cabinet reshuffle aims at modernization plans
Jordan's cabinet reshuffle is a mandate for the government to work within the Kingdom's three modernization tracks, launched at the...
Geostrategy
Most Read
Business
Alpha Dhabi posts US$2.45bn net profit
It recorded a150% rise in profit in first nine months of 2022.
- Revenues also grew significantly standing at $7 billion, representing a year-on-year increase of 133 percent with strong contributions from the existing portfolio in the healthcare
- The Group remains well-funded with a strong cash position of $4. 62 billion
Business
Masdar to partake in Saudi renewable energy market
Masdar will also participate with partners in the upcoming Round 4 tender announced by the Saudi Power Procurement Co.
- Masdar will also participate with partners in the upcoming Round 4 tender announced by the Saudi Power Procurement Co.
- Saudi Arabia plans to generate 50 percent of its electricity from clean sources by the end of this decade, targeting 58.7 GW from renewable sources
Economy
UAE makes amendments to value added tax rules
Abu Dhabi, UAE— The UAE Ministry of Finance announced amendments to some provisions of the Federal Decree-Law No. 8 of...
- The amendments were made are in line with international best practice in light of the GCC Unified VAT Agreement
- They are based on past experiences, challenges faced by various business sectors as well as the recommendations received from the relevant parties