Dubai Customs, Japan seize drugs worth $310m from Tokyo port
DUBAI, UAE- Dubai Customs has assisted Japanese customs authorities in intercepting a significant quantity of illicit drugs. Up to 700...
Geostrategy
UAE discusses tourism with India, UK, Indonesia and Japan
NEW DELHI, INDIA - UAE Minister of Economy and Head of the Emirates Tourism Council Abdullah bin Touq Al Marri...
Geostrategy
Business
Jordan to resume flights to Damascus, 10 years after Syrian civil war broke out
The Jordanian government has agreed to resume flights to the Syrian capital Damascus as of 3 October after a 10-year hiatus...
- The Ministry of Interior said, in a press statement today, that this decision comes to allow the activation of trade and tourism between the two countries
- Travelers coming from Syria will be required to present a negative PCR test from accredited Syrian laboratories taken no more than 72 hours before their flight
Business
Kuwait plans customs virtual corridor with Abu Dhabi
The customs departments of Kuwait and Abu Dhabi are planning to form a virtual corridor.
- The move is expected to bolster bilateral trade ties
- A deal over the matter may be sealed shortly
Business
Dubai’s trade with Saudi Arabia leaps up 26 percent to AED30.5bn in H1
Trade between Dubai and Saudi Arabia grew 26 percent to AED30.5 billion in the first half of 2021, making the...
- Overall, the non-oil foreign trade of Dubai grew 31 percent year-on-year in the first half 2021 to AED722.3 billion
- China, however, remains the emirate’s biggest trading partner in the world in terms of value - increasing by 30.7 percent to AED86 billion in the six months to July
Geostrategy
Jordan to fully reopen Syria crossing this week
The crossing was closed nearly two months ago due to fighting in Syria’s southern province of Daraa.
- The Jaber-Nasib crossing is Jordan’s main gateway for goods from Lebanon and Syria to the Arab Gulf countries
- It is expected to operate at full capacity as of Wednesday, September 28
Business
Oman to start gabbro mining in October
The quarry will start with a production capacity of 2.4 million tons of gabbro.
- Gabbro is a coarse-grained igneous rock that is used, among other things, to make kitchen countertops
- Sometimes, gabbro deposits may also contain chromium, nickel, cobalt, gold, silver, platinum, and copper sulfides
Business
UAE and WEF to hold ‘Great Directions for the Future’ dialogue in Abu Dhabi
The United Arab Emirates in partnership with the World Economic Forum will hold a two-day long gathering of thinkers to...
- The meeting represents the basis for an initiative that brings together the world’s elite thinkers, minds and future foresights, on a single platform, to exchange ideas, share visi
- “Great Directions for the Future” dialogue and the meeting in Dubai will constitute a strong incentive to shape the features of a more prosperous and inclusive future for humanity
Business
Tribunal awards Dana Gas $607 million in a case against Iran’s state producer
DUBAI: Sharjah-based Dana Gas has been awarded $607.5 million as compensation for damages in a case against the Iranian state-owned...
- The final hearing of the case will be held in October 2022 and a final award on the damages is expected in 2023.
- A second arbitration for the bigger period of the 25-year agreement is currently underway, Dana Gas said.
Science
NYU and NYU Abu Dhabi develop AI tool to improve breast cancer detection
A team of researchers from New York University (NYU) and NYU Abu Dhabi report that they have developed a novel...
- The system, designed to be a decision support tool for clinicians, also helped radiologists significantly decrease their false positive and requested biopsy rates
- The system is designed to identify malignant lesions in breast ultrasound images, with the primary goal of reducing the frequency of false-positive findings
Business
McDonalds Qatar warns of fake websites
The sites are advertising fake offers and requesting bank details.
- McDonald’s has reported this problem to the local authorities
- It is working closely with them to rectify the matter and take down these sites
Economy
Higher oil prices, widespread vaccine roll-out to drive Saudi economic rebound: S&P
Saudi Arabia’s economy will benefit from higher oil prices and its successful COVID-19 vaccine roll-out, ratings agency S&P Global has...
- Growth is heavily observed in non-oil sectors, particularly in real estate where the government aims to drive national home ownership to 70 percent by 2030
- The semi-annual review from S&P affirmed the A-/Stable/A-2 sovereign rating of the Kingdom, attributing it to a positive post-pandemic performance
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Dubai Customs, Japan seize drugs worth $310m from Tokyo port
DUBAI, UAE- Dubai Customs has assisted Japanese customs authorities in intercepting a significant quantity of illicit drugs. Up to 700...
Geostrategy
Company News
UDC profit up 23% in H1 2022
Business
Latest News
IFZA, CBD ink banking deal
Business
JAFZA facilitates more than a third of Dubai automotive volume
Dubai, UAE-- Jebel Ali Free Zone (Jafza), part of DP World Group, has facilitated over 1.2 million metric tons (MT)...
Business
Adoption of new technologies tops Saudi Maritime Congress agenda
The purpose of the event is to highlight the most significant advancements in the digital transformation and adoption of cutting-edge...
Economy
AD Ports ups stake in Egypt firms
The majority stake in the two companies was valued at $140m.
Business
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Business
First phase of ADNOC Refining’s WHR project nears completion
ADNOC Refining's Waste Heat Recovery (WHR) project is designed to capture exhaust heat from the gas-powered turbines at ADNOC Refining's...
- The firm is looking to reduce its greenhouse gas (GHG) emissions intensity by 25% by 2030, aligned to the UAE Net Zero by 2050 Strategic Initiative
- ADNOC has announced partnerships to decarbonise its operations at scale, with up to 100% of the company's grid power being supplied by clean nuclear and solar energy sources
Business
Dubai records realty transactions worth $517 million: Land Department
Dubai, UAE--- Dubai real estate market recorded 344 sales transactions worth AED1.77 billion ($481 million), in addition to 67 mortgage...
- The sales included 286 villas and apartments worth AED600.16 million, and 58 land plots worth AED1.17 billion.
- The emirate's real estate market recorded a total of 7,092 transactions in July 2022, which is its best performance in the past decade.
Business
Wio launches in UAE
The digital bank is co-owned by ADQ, Etisalat, and others.
- It has three main business lines: digital banking apps, embedded finance and banking-as-a-service, the provision of banking through third-party distributors
- Wio is 65 percent owned by Abu Dhabi sovereign wealth fund ADQ and Alpha Dhabi, 25 percent by Etisalat and 10 percent by First Abu Dhabi Bank