Dubai real estate sales up despite price rise since January 2020
Dubai, UAE – The Dubai Land Department (DLD) reported over 3,200 transactions worth AED 24.7 billion last week and this...
Business
Global space economy is worth billions, say experts
ABU DHABI, UAE - The global space economy has great potential in terms of economic prospects, with the sector going...
Business
Business
Facebook says will shut down facial recognition system
Face recognition technology could compromise privacy, target marginalized groups, and normalize intrusive surveillance, according to critics.
- Face recognition technology could compromise privacy, target marginalized groups, and normalize intrusive surveillance, according to critics
- The news also comes as Facebook has been under intense scrutiny from regulators and lawmakers due to its platform abuses and user safety
Economy
UAE accounts for 40% of Netherlands’ exports to GCC: Dutch minister
Tom de Bruijn’s comments came during a business forum hosted in Dubai as part of a high-level trade mission to...
- The forum was organised by the Consulate General of the Netherlands in Dubai in cooperation with Dubai Chamber
- The UAE’s non-oil trade with the Netherlands has reached about $3 billion in 2020
Business
Zain to solidify 5G networks
Signs MoUs with Huawei, Nokia, Tata, BTAS and MSSP pact with Fortinet.
- The MoU with Huawei entails mutual cooperation for the full deployment of the 5G network within the SME sector.
- Zain's agreement with Tata Communications includes joint projects related to SD-WAN and global contact centers.
Business
Al Maryah Bank appoints advisor
Al Maryah Community Bank LLC, UAE’s first digital bank, has appointed Adeeb Ahamed as advisor to the Board Members. He...
- Al Maryah Community Bank, which started operations earlier this year, is a community oriented financial services provider
- The Board comprises leaders from diversified sectors of economy, and Adeeb’s inputs as an Advisor will help improve the bank’s strategic direction
Business
DP World and Indonesia Investment Authority plan $7.5bn long-term investment
DP World and the Indonesia Investment Authority (INA) have signed an agreement to form a consortium and working team to...
- The investments would include inland terminals, cargo parks, feeder network systems, landside transport and industrial zones.
- They will also explore collaboration with the Indonesia Port Corporations (Pelindo).
Business
Demand for films in Saudi Arabia grows, above 1,000 released in 3 years
There is a great demand from distributors for films in Saudi Arabia, which is borne by the fact that more...
- CEO of the General Commission for Audiovisual Media holds meet with Warner Bros EMEA head.
- The participants say the film industry in the kingdom will witness a 'qualitative renaissance'.
Business
DEWA to be listed on Dubai Financial Market in coming months
The listing is part of the Securities and Exchange Higher Commission’s strategy to increase the size of the stock market...
- The listing is part of the Securities and Exchange Higher Commission’s strategy to increase the size of the stock market in the Emirate to AED3 trillion
- The move is likely to raise the competitiveness of bourses and encourage more initial public offerings
Business
SHUAA’s insurance assets grow to $136m
The firm expects the assets to reach $500m within three years.
- SHUAA has managed the equity and debt portfolios of five major insurance firms.
- The company is focused on strategically growing its insurance assets under management, said MD SHUAA.
Business
50 Dutch companies arrive in UAE: Water, food, energy on agenda
Representatives of 50 Dutch companies, led by the Dutch Minister for Foreign Trade and Development Cooperation Tom de Bruijn, arrived...
- More than 350 companies operate in the UAE and use the Emirates as a base for the Gulf region.
- More than 350 companies operate in the UAE and use the Emirates as a base for the Gulf region.
Business
Theft of data worries UAE and Saudi residents, says study
Ding launched the second Ding Global Prepaid Index (GPI)in the United Arab Emirates and Saudi Arabia.
- 45% of UAE respondents fear data being collected, 37% in KSA
- 75% of UAE respondents say they have low trust in social media platforms
Dubai real estate sales up despite price rise since January 2020
Dubai, UAE – The Dubai Land Department (DLD) reported over 3,200 transactions worth AED 24.7 billion last week and this...
Business
Company News
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Julphar Q2 sales $114m
Business
Jordan, Germany discuss scientific research, ties in water sector
Jordan's The Royal Scientific Society (RSS) and the Princess Sumaya University for Technology (PSUT) discussed with the German Research Foundation...
Science
CMA clears three new IPOs for listings on Saudi bourses
The CMA has approved an application from Power and Water Utility Co. for Jubail and Yanbu to register and sell...
Business
Bahrain and Japan resolve to boost ties in various fields
The two leaders also agreed to explore opportunities that would aid the advancement of Bahrain and Japan’s strategic partnership in...
Geostrategy
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Business
ADNOC Distribution to pay $349m
This is the first payment of a full-year AED2.57 billion dividend.
- The second and final dividend for 2022 expected to be paid in April 2023, subject to the Board of Directors’ recommendation and shareholders’ approval.
- The 2022 full-year dividend would offer a 4.9 percent annual dividend yield (based on a share price of AED4.21 as of 27th September 2022).
Business
ADC sets price for IPO
Its share will be available in the price range of $24-$27.
- the process for institutional investors, which will end on Oct. 5, will be led by HSBC Saudi Arabia, Goldman Sachs Saudi Arabia, and SNB Capital
- ADC is offering 30 percent of its capital, representing 26.7 million, and will list on Nomu
Business
ADQ and OIA discuss opportunities to boost Oman-UAE cooperation
Abu Dhabi, UAE--ADQ, an Abu Dhabi-based investment and holding company, discussed a range of investment opportunities with Oman Investment Authority...
- The meeting was held on the sidelines of President Sheikh Mohamed Zayed Al Nahyan's visit to Oman.
- ADQ and OIA recently entered into an AED10 billion ($2.72 billion) partnership agreement to facilitate investments between the UAE and Oman in sectors of mutual priority.