Archer to launch its all-electric air taxi service across UAE
ABU DHABI, UAE - Archer Aviation on Tuesday announced that it has entered into an agreement with Abu Dhabi Investment...
Business
Saudi business sector’s operating revenues at US$1.36trn in 2022, says GASTAT
RIYADH, SAUDI ARABIA - The business sector in the Kingdom reported a 24 percent rise year-on-year (YoY) in operating revenues...
Business
Business
How can GCC companies respond to Global Minimum Tax rules?
The OECD rules will ensure that multinational corporations pay a minimum 15% tax rate from 2023.
- The OECD rules will ensure that multinational corporations pay a minimum 15% tax rate from 2023
- The Pillar Two model rules provide governments a template to address the tax challenges arising from digitalisation of the economy
Science
NYU Abu Dhabi’s Water Research Center partners with EWEC
The center serves as an interdisciplinary innovation hub for research in water desalination and membrane technology innovation.
- The center serves as an interdisciplinary innovation hub for research in water desalination and membrane technology innovation
- The new partnership will engage NYUAD students to contribute to the continued advancement of water research, and educate them on water management
Business
CBUAE enhances framework for real estate exposure of banks
The new methodology also introduces measurement of these exposures, based on credit risk-weighted assets using the CBUAE’s capital adequacy standards.
- The comprehensive standards require banks to review and improve their internal policies to enhance sound underwriting, valuation and general risk management.
- Banks with higher risk-weighted real estate exposure in their portfolios will be subject to a more extensive supervisory review of their underwriting and risk management .
Business
$44.92m EDB, FAB loan for Lamprell
The facility is in line with EDB's strategy to support large corporates.
- The bespoke credit facility additionally benefited from the comprehensive trade credit solutions provided by Etihad Credit Insurance (ECI).
- The facility will be utilized to support Lamprell in delivering two new build jack-up rigs for IMI which are currently under construction.
Business
IHC acquires stake in Al Qudra
The acquisition is part of Al Qudra's diversification strategy.
- Al Qudra Holding, founded in 2005, has a large portfolio of customers including Manarah Bay, a multi-usage project covering about 52,000 square meters in Abu Dhabi.
- The frim operates as an investment holding company and focuses its investments and strategic partnerships in sectors such as oil and gas.
Business
Dubai World Trade Center to become regulator for virtual assets, crypto
The World Trade Center will deliver and oversee a new world-class regulatory framework of Virtual Asset legislative and enforcement policies.
- The announcement follows the efforts to further develop Dubai virtual assets and markets, includes creating a framework for financial products.
- The Dubai World Trade Centre will collaborate with the private sector and relevant entities in Dubai to create an attractive environment for the sector.
Infographics
Where do Arab countries stand, according to GDP?
The most common way to quantify the economic health of a country is by calculating its gross domestic product (GDP).
- GDP is the total market value of all the goods and services produced within a country in a specific time period
- It is usually calculated on an annual basis, with the time period corresponding to the fiscal year rather than the calendar year
Arts & Culture
UAE Declaration of Arabic Language launched by Sheikh Mohammed
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, on Tuesday launched the UAE Declaration of Arabic Language...
- The declaration aims to draw out a unified roadmap for various institutions in Arab countries.
- The declaration was introduced in the presence of the Arab Ministers of Culture to mark the World Arabic Language Day
Geostrategy
Above 2.5 million passengers used Doha Metro during Arab Cup in Qatar
More than 2.5 million passengers used Doha Metro during that Arab Cup hosted by Qatar from Nov 30 to Dec...
- Qatari media reports said Doha Metro operated 50,000 trips during the tournament.
- Except on Friday, Doha Metro ran for 21 hours a day throughout the week.
Arts & Culture
Abu Dhabi to host Pokemon GO Tour live event in 2022
Gamers on Yas Bay will be joined by those taking part in Monterrey, Mexico at Parque Fundidora and Kaohsiung, Taiwan...
- The event will be hosted by Niantic, the AR company behind Pokémon GO, in partnership with the Department of Culture and Tourism - Abu Dhabi
- The ticketed event will include real-world habitats, special in-game features, photo ops, a special game plan, exclusive merchandise and targets existing gamers
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
Archer to launch its all-electric air taxi service across UAE
ABU DHABI, UAE - Archer Aviation on Tuesday announced that it has entered into an agreement with Abu Dhabi Investment...
Business
Company News
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ADQ submits shareholding offer to ADA
ADQ aims to establish a diversified aviation services and MRO business.
Business
UAE calls Borrell’s ‘jungle’ remark as ‘racist and disappointing’
"Borrell’s remarks are a disappointing development that comes at a time when all parties are aware of the importance of...
Geostrategy
World Cup boom pushes some Qatar residents out of homes
More than one million football fans are expected to descend on the capital Doha during the November-December tournament, putting a...
Business
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Business
Al Seer signs JV
The agreement was signed with Damen Shipyards and DTec Industries.
- They will implement their success formulas to ventures and local partnerships to sell, build and maintain high-quality, innovative, and cost-effective marine vessels.
- The Joint Venture between the companies will combine the best maritime talent in the industry and help position the UAE as the industry centre of excellence.
Geostrategy
UAE contributes $25 million toward Al Makassed Hospital in East Jerusalem
Abu Dhabi, UAE---The United Arab Emirates will contribute $25 million toward Al Makassed Hospital in East Jerusalem in collaboration with...
- At Al Makassed Hospital , it is expected that more than 130,000 people will benefit from its health services.
- Sultan Mohammed Al Shamsi, Assistant Minister of Foreign Affairs, said the agreement reflected UAE's historic commitment to Palestinians.
Business
Saudi Top to list on Nomu
The company will list 880,000 ordinary shares via an IPO.
- According to a bourse filing, this represents around 22 percent of Riyadh-based Saudi Top’s share capital
- The end price of the offering is expected to be determined once the book-building process for the offering has been completed