Global energy meet discusses way forward to net-zero emissions
VIENNA, AUSTRIA – High-level representatives from the member states of the United Nations Industrial Development Organization (UNIDO), international organizations, experts...
Science
Business
Israel okays UAE joint fund for high-tech investment
The Israel government has approved the plan for a joint fund with the UAE for investment in high-tech firms and...
- The proposal was brought to the government by Israel’s Minister of Foreign Affairs of the State Yair Lapid
- It was co-sponsored by the country’s Minister of Foreign Affairs of the State Orit Farkash Hacohen
Business
Investcorp inks $4bn deals in US
It acquired properties worth $2.5 billion, and made sales of $1.5 billion.
- Invescorp expanded its US platform with focus on industrial and residential sectors
- The team has acquired over 200 properties in 2021 worth $2.5 billion and has sold for $1.5 billion
Economy
Lebanon decision to convert deposits to local currency faces ire
The current midmarket rate for a US dollar is LBP1,500, while the black-market rate is more than LBP23,000 to the...
- Depositors in Lebanon demonstrated against the government's plan to convert deposits into Lebanese pounds
- The demonstration was also against an associated decision to compensate depositors in the local currency
Geostrategy
Houthi militia launch missile attacks on UAE and Saudi Arabia
The UAE air defense forces have intercepted and destroyed two ballistic missiles targeting the country, the Ministry of Defense announced...
- The UAE Ministry of Defense confirmed that there were no casualties resulting from the attack
- However, the attack in Saudi Arabia led to two expatriates sustaining minor injuries
Arts & Culture
Iraq reclaims five new artifacts from US
Farid Yassin, the Ambassador of Iraq to the America says that the recovered artifacts are part of the history and...
- Iraq reclaimed five new artifacts from Washington that had been stolen during the past 30 years
- The recovered artifacts include an ivory plaque bought for $400,000 in 2010 and a Golden bowl bought in 2020 for $150,000
Business
SINOPEC inks Iraq gas deal
The contract includes training workers to keep up with the sector,
- Iraq has signed contract with to develop the Mansouriya gas field in Diyala in the Anbar Governorate
- This deal represents an addition to the investment of free gas from the Mansouriya field
Arts & Culture
Cairo International Book Fair to host Abu Dhabi Arabic Language Center
The Abu Dhabi Arabic Language Centre will also hold a ‘Cultural Retreat’ at the event
- The Book Fair is one of the largest cultural events in the region, taking place in the Egyptian capital from Jan 26-Feb 7.
- The Centre will showcase its various publishing and translation projects, which are designed to firmly cement the status of Arabic language.
Geostrategy
Saudi’s role in aviation security hailed at Experts Group Meeting
Saudi Arabia, represented by the General Authority of Civil Aviation, chaired the meeting of a team of aviation security experts...
- Saudi Arabia chaired the meeting of a team of aviation security experts within the Middle East Aviation Security Cooperative Program.
- Representatives from Saudi Arabia, Sudan, Jordan, and the observer states Qatar and Egypt participated in the meeting.
Business
Dubai records $1.11 billion worth of weeklong real estate deals
A total of 1,99The real estate and properties transactions valued at AED4.1 billion were recorded in Dubai during the week...
- The transactions included 287 plots that were sold for AED1.08 billion, while 1,059 apartments and villas were purchased for AED2.25 billion.
- The top three transactions were a plot of land in Al Hebiah Fifth that sold for AED190 million, followed by land that was sold for AED 45 million in Al Thanyah First.
Economy
DEWA inaugurated 16 new power substations costing $797m in 2021
Dubai Electricity and Water Authority (DEWA) has inaugurated 16 new substations in 2021 at the cost of about AED2.928 billion...
- DEWA installed 222 kilometers of 400kV overhead transmission lines and 97 kilometers of 132 kV ground cables to connect the substations to the main transmission network.
- DEWA’s investments in existing and completed electricity transmission projects in 2021 reached AED9.5 billion.
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Global energy meet discusses way forward to net-zero emissions
VIENNA, AUSTRIA – High-level representatives from the member states of the United Nations Industrial Development Organization (UNIDO), international organizations, experts...
Science
Company News
Latest News
Abu Dhabi Airports revamp its brand identity
The makeover is geared to provide connectivity and hospitality that showcases the emirate as a prime travel destination.
Business
Alpha Dhabi posts US$2.45bn net profit
It recorded a150% rise in profit in first nine months of 2022.
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.
Business
Most Read
Economy
Reviewed: Strategies to promote wellbeing in the UAE
She was attending the Government Network Meeting of Happiness and Well-being CEOs, which seeks to align the efforts, initiatives and...
- The meeting reviewed the healthy wellbeing strategy plan which included several initiatives aimed at enhancing well-being governance and improve health
- The strategic plan focuses on a set of programs that promote a healthy well-being of the UAE residents in line with the National Well-being Strategy 2031
Business
DFSA signs agreement with Bangladesh SEC
DUBAI, UAE - The Dubai Financial Services Authority (DFSA) has signed a Memorandum of Understanding (MoU) with the Bangladesh Securities...
- The MoU was signed by Chief Executive of the DFSA Ian Johnston and Chairman of the BSEC Professor Shibli Rubayat Ul Islam Friday in Dubai.
- The agreement provides a framework for facilitating cross-border collaboration between the two bodies on supervision and enforcement actions.
Videos
GCC’s two biggest trade allies are Asians
As the US is apparently pulling away from the Middle East, the cooperation between the Gulf and Asian regions is...
- Experts believe the US is pulling back from the Middle East and shifting its attention and resources to the "priority theatre" of the Indo-Pacific.
- But as the world recovers from the Covid-19 pandemic, the GCC countries are expected to play a more significant role in the ongoing Asianization of the global economy.