ADNOC completes $316 million sale of ADNOC L&S shares
ABU DHABI – Abu Dhabi National Oil Company (ADNOC) has sold a 3 percent stake in its logistics and shipping...
Business
UAE Cyber Security Council: Over 12,000 Wi-Fi breaches recorded in UAE since start of year
Abu Dhabi, UAE -- The UAE Cyber Security Council (CSC) has warned of the serious risks posed by using open...
Science
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...
- The UAE is keen on developing tourism ties with countries and building partnerships in fields that supports economic, social growth and prosperity.
- The UAE had adopted a forward-looking vision to develop a distinguished tourism sector at the regional and global levels.
Geostrategy
Kuwait, UN sign MoU to enhance cooperation in counter terrorism
NEW YORK, US - Kuwait Ministry of Foreign Affairs and the United Nations signed a Memorandum of Understanding (MoU) aimed...
- A training program for Kuwaitis and the establishment of special workshops in the field of combating terrorism was discussed.
- The country has tried to strengthen global partnerships in combating terrorism, Kuwait's assistant minister said.
Business
Dubai’s weeklong real estate transactions exceed US$4.2bn
DUBAI, UAE - A total of 4,048 real estate transactions worth over US$4.2 billion (AED 15.6 billion) were conducted during...
- The records show that 278 plots were sold for US$473 million, while 2,965 apartments and villas were purchased for US$1.9 billion.
- The top transaction was that of a plot of land in Wadi Al Safa 3 which sold for US$24 million, the records revealed.
Business
CBUAE balance sheet rises to US$172bn at end of April 2023
ABU DHABI, UAE - The Central Bank of the UAE's (CBUAE) balance sheet grew by 6.3 percent on a monthly...
- CBUAE says balance sheet increased YoY to US$33 billion against US$138 billion at the end of April 2022.
- CBUAE has US$72 billion for cash and bank balances in April, along with reserved investments to the tune of US$55 billion.
Business
AD Ports signs 30-year pact to operate Congo’s key port
The first phase works, costing $200m, likely to completed in 30 months.
- The Group will provide the facility with digital services and technology solutions to enhance its efficiency
- It will invest more than $500 million in the development and functioning of the “New East Mole Port”
Business
ADNOC L&S gets new VLCC
VLCCs carry almost 2 million barrels of crude per voyage.
- The vessel is the first of four dual-fuel engine very large crude carrier which can also run on liquefied natural gas
- ADNOC L&S has committed approximately $2 billion to build more environmentally efficient vessels.
Geostrategy
Israel defiant amid global criticism over West Bank settlement expansion
UN Middle East envoy Tor Wennesland issued a warning on Monday against changes made by the Israeli government that will...
- Israeli official describes the changes as a reduction of unnecessary administrative procedures
- Defending the changes, Israeli government asserts that Israel is their country, "in its entirety"
Economy
UAE, ILO ink agreement to enhance labor inspection capabilities
GENEVA, SWITZERLAND - The UAE has signed a cooperation agreement with the International Labor Organization (ILO) to collaborate in labor...
- The agreement, signed by UAE's Ministry of Human Resources and Emiratization, aims to develop the skills and capabilities of inspectors at the ministry.
- The pact enables the ministry's officials to carry out inspections proactively and enhance their capacities in line with the best international practices.
Business
Sheikh Mohammed inaugurates 5th phase of Mohammed bin Rashid Al Maktoum Solar Park
DUBAI, UAE - Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of...
- Sheikh Mohammed inaugurates 5th phase of Mohammed bin Rashid Al Maktoum Solar Park.
- The fifth phase of the project will provide clean energy will reduce 1.18 million tonnes of carbon emissions annually.
Business
38 million passengers used services of SRTA in 2022, say reports
SHARJAH, UAE - The Sharjah Roads and Transport Authority (SRTA) said it transported about 38 million passengers, throughout the year...
- The beneficiaries of taxi services and franchise companies within the emirate amounted to 29 million passengers.
- The total beneficiaries of bus services amounted to about 5.3 million, with an average of 14,500 passengers per day.
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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
ADNOC completes $316 million sale of ADNOC L&S shares
ABU DHABI – Abu Dhabi National Oil Company (ADNOC) has sold a 3 percent stake in its logistics and shipping...
Business
Company News
e& 2023 net profit is US$2.8bn
Business
Latest News
The Middle East fastest growing Real-Time Payments market globally
For the second consecutive year, the Middle East is the fastest-growing real-time payments market globally, according to the 2024 Prime...
Economy
Saudi Arabia inaugurates its second “House of Culture”
As part of the “Quality of Life” program, these houses aim to upgrade cultural infrastructure and boost Saudi engagement in...
Arts & Culture
Geopolitical unrest generates an onslaught of DDoS attacks
NETSCOUT SYSTEMS, INC. released findings from its 2H2023 DDoS Threat Intelligence Report that dissects trends and attack methodologies adversaries use...
Geostrategy
Most Read
Business
Germany shares observations on Qatar hosting Autonomous e-Mobility Forum
In its efforts toward sustainable transportation, the German embassy is the first diplomatic representation in Doha to utilize an electric...
- The diplomats shared their observations and views on Qatar’s trajectory as a hub for dialogue and the potential of autonomous e-mobility moving forward
- The German embassy is indeed the first diplomatic representation in Doha to utilize an electric vehicle as a staff car
Economy
Saudi’s Modon attracts $3.8bn industrial investments in 2023
Saudi Authority for Industrial Cities and Technology Zones (Modon) has announced significant progress in attracting industrial and logistical investments for...
- New investments surged by 63 percent, with 891 local and foreign investments secured.
- The number of factories rose to 6,443, alongside 7,946 industrial, logistical, and investment facilities
Business
DWTC welcomes 2.47m visitors in 2023, says EVP
DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC) Mahir Julfar said that the DWTC's performance in 2023...
- Over 722,000 were international visitors to various events, showcasing an unparalleled 60 percent growth rate year-on-year.
- Flagship events such as GITEX Global and Gulfood maintained their leadership positions in their respective sectors.