Economists convened by COP28 lay out steps to reform global climate finance
ABU DHABI, UAE - A two-day meeting of world leading economists and finance leaders convened by the COP28 Presidency has...
Economy
Business
GMIS, FAB to enhance SME’s access to finance, drive industrial growth
The Global Manufacturing and Industrialisation Summit (GMIS) announced on Thursday a partnership with First Abu Dhabi Bank (FAB), that will...
- The GMIS-FAB partnership will also highlight the importance of ‘green finance’.
- GMIS 2021 will be held alongside the six-day GMIS Week from November 22-27 at the Expo.
Economy
UAE, Spain seek to increase collaboration in life sciences sector
The UAE hosted its second "Sci-Tech Virtual Tour" for a high-level Spanish delegation to highlight the country’s economic and scientific...
- The UAE hosted its second "Sci-Tech Virtual Tour" for a high-level Spanish delegation to highlight the country’s economic and scientific achievements
- The two-day event was organized in cooperation with the UAE’s Ministry of Foreign Affairs and International Cooperation and the UAE Embassy in the Kingdom of Spain.
Economy
$4 bn US-UAE effort to help farming adapt to climate change
During the UN talks in Glasgow, Scotland, the two countries launched the Agriculture Innovation Mission for Climate.
- During the UN talks in Glasgow, Scotland, the two countries launched the Agriculture Innovation Mission for Climate
- The AIM is seen as critical for averting the most disastrous impacts of climate change
Economy
COP26 sees new coalition for net-zero tourism
The SGTC will be headquartered in Riyadh, Saudi Arabia, and may open regional offices in other countries.
- The STGC is a multi-country, multi-stakeholder coalition established to lead, accelerate, and track the tourism industry’s transition to net-zero emissions
- It is also expected to drive action to protect nature and support communities
Business
Egypt’s Breadfast to expand to Middle East, gets $26M backing
The investors include lead investors Vostok New Ventures and Endure Capital and participating investors JAM Fund (led by Tinder co-founder...
- The investment is coming two years after Breadfast raised a $2 million
- In total, the company has secured more than $30 million
Business
Dubai’s Wednesday realty transactions worth AED1.1 bn
The sales covered 314 villas and apartments worth AED645.92 million, and 29 land plots worth AED216.81 million.
- The sales covered 314 villas and apartments worth AED645.92 million, and 29 land plots worth AED216.81 million
- The mortgages included 52 villas and apartments worth AED123.74 million and 10 land plots valued at AED45.14 million
Business
Nayifat sets IPO offer price
The IPO kicks off on November 7 and ends on November 8.
- The listing would result in a market capitalization of SAR 3,400 million (USD 907 million)
- The book-building process generated an order book of SAR 162 billion that was 136x oversubscribed
Business
UAE and IRENA launch $1 billion clean energy finance platform
The UAE and the International Renewable Energy Agency (IRENA) on Wednesday announced the Energy Transition Accelerator Financing (ETAF), a new...
- The Energy Transition Accelerator Financing will aim to mobilize an additional $2 billion in energy transition investments.
- The platform targets 1.5 GW of clean renewable energy generation and storage by 2030.
Business
UAE provides $10m in aid to Turkey
The United Arab Emirates has announced the provision of $10 million to contribute to the reconstruction of some Turkish regions...
- the UAE expressed its solidarity with the Turkish people in these exceptional circumstances
- The move follows the directives of Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi
Business
Herfy Foods appoints new CEO
Saudi Arabia’s Herfy Food Services Company (Herfy Foods) has appointed Sam Bader as CEO, after he served as acting CEO.
- “The board of directors of Herfy Food Services Co extends its appreciate and gratitude for the efforts made by Mr Sam Bader during his term of acting CEO"
- The company said Bader had started his career with BK USA, then worked for McDonald’s International USA
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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
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Latest News
Saudi Arabia ranks first in G20 visitors flow rating: report
According to the report, the number of foreign tourists visiting the kingdom has surged 121 percent from January to July...
Economy
Tabby, Paymob announce partnership
They will create a Buy Now Pay Later solution for retailers.
Business
Metaverse could touch US$500bn by 2030: Arthur D. Little
The metaverse, Beyond Fantasy, the latest in a series of new reports from the company running under the ‘Blue Shift’...
Business
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Science
Eman Al Shamsi is first Arab, Emirati member of WLPO steering committee
The WLPO network, part of the International Society of Pediatric Oncology (SIOP), promotes female leadership in pediatric oncology.
- The WLPO network, part of the International Society of Pediatric Oncology, promotes female leadership in pediatric oncology
- Dr Al Shamsi membership in the WLPO steering is a significant achievement and a success for the EHS medical staff
UAE’s top banks post 10% profit jump in H1 of 2022
Signalling a broader economy recovery in the country, four largest banks of the UAE have posted a big surge in...
- The financial performance comes amid an improving environment in the UAE despite global macro-headwinds
- The recovery reflected improving consumer confidence particularly given loosening pandemic restrictions, a strong vaccination roll-out, recovering oil prices
Jada to promote startups
It will collaborate with Invest Seoul Agency for the venture.
- The partnership seeks to exchange information on entrepreneurial policies and best practices and support startups aspiring to enter the Saudi or Korean markets
- Invest Seoul Agency is a foreign investment promotion agency established by the Seoul Metropolitan Government