flydubai adds two Saudi destinations
Flights to Al Jouf Airport and Red Sea Airport to start from April 18.
Business
Tabreed approves record dividend
The cash dividend of 15.5 fils per share was okayed at Tabreed's AGA.
Business
Business
DEWA organized 157 health, safety training sessions for employees in 2022
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has organized 157 training courses and awareness sessions on occupational health...
- DEWA organized its 20th Internal Health and Safety Week which featured various activities in aspects of occupational health and safety.
- DEWA continues to upgrade the expertise of its staff to reach the highest levels of excellence and quality through ongoing training.
Geostrategy
UAE takes part in financial inclusion meet under India G20 Presidency
ABU DHABI, UAE - The UAE participated in the Global Partnership for Financial Inclusion (GPFI) meeting in the Finance Track...
- The meeting was held to discuss the Global Partnership for Financial Inclusion work plan for 2023.
- G20 members, invited countries, GPFI members, and international organizations such as the World Bank and OECD attended the meeting.
Business
Emirates NBD issues Dirham bond, first by UAE firm in 10 years
Dubai, UAE-- Emirates NBD has announced the successful pricing of its inaugural AED1 billion ($272 million) dirham-denominated bond, the first...
- The three-year bond saw strong demand, with the order book peaking at over AED1.65 billion.
- The issuance is the bank's first dirham-denominated bond since the Ministry of Finance created a medium-term yield curve.
Economy
Sharjah Consultative Council reviews districts and villages department’s work
SHARJAH, UAE - The Sharjah Consultative Council (SCC), in its seventh session, held as part of the fourth regular session...
- The SCC meeting, at its headquarters in Sharjah, was chaired by Ali Mehd Al Suwaidi, Chairman of the Council.
- Sheikh Majid bin Sultan Al Qasimi, Member of Sharjah Executive Council, Head of DVAD represented the department in the session.
Business
Dubai records over US$2.72bn in weeklong real estate transactions
DUBAI, UAE - A total of 2,173 real estate transactions worth over US$2.72 billion (AED 10 billion) were conducted during...
- A total of 2,173 real estate transactions were conducted during the week ending January 6, 2023.
- A total of 270 plots were sold for US$612 million, 1,903 apartments and villas were sold for US$1.33 billion.
Business
dnata begins building warehouse
The facility will be capable of processing 100,000 tons of cargo annually.
- The facility represents an investment of US$14 million and will create up to 50 additional, direct jobs with dnata in Iraq.
- The foundation stone for the cargo warehouse is scheduled for completion in September 2024.
Business
Flynas passenger growth 91% in 2022
The airline launched 16 new destinations and 30 new routes.
- It reported an increase of 91 percent in its passengers to 8.7 million.
- The firm's flights expanded by 45 percent to 66,000 and seat capacity by 46 percent.
Business
DEWA’s new project cuts 44,000 tons of carbon emissions annually
The TESTIAC project was implemented to increase the electricity generation capacity of gas turbines during high ambient temperatures in summer...
- This project is the first of its kind internationally combining Thermal Energy Storage with Inlet Air Chilling in Frame 9F Gas Turbines.
- This reduces the consumption of natural gas in the electricity production process, which limits greenhouse gas emissions.
Business
15 MoUs in several sectors signed at Saudi-Japan Investment Forum
Riyadh, Saudi Arabia - As many as 15 memorandums of understanding were signed between Saudi Arabia and Japan in several...
- The forum highlighted the investment opportunities to strengthen the investment partnership between the two countries in light of Saudi-Japan Vision 2030.
- It also reviewed opportunities to expand the investment partnership between the two countries in a number of the strategic sectors.
Business
DEWA 9th Sustainability Report showcases its progress in sustainable development
DUBAI, UAE - The ninth Sustainability Report 2021 issued by Dubai Electricity and Water Authority (DEWA) highlights its efforts and...
- The Sustainability Report 2021 introduces partners, relevant entities and all stakeholders to its performance and practices in sustainability.
- The report demonstrates the progress made by DEWA, and its contributions to achieving the United Nations Sustainable Development Goals 2030.
flydubai adds two Saudi destinations
Flights to Al Jouf Airport and Red Sea Airport to start from April 18.
Business
Company News
UAE approves Dubai Metro Blue Line project
Geostrategy
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Solutions+, EIH sign MoU
Business
UN General Assembly approves US$3.59bn budget for 2024
NEW YORK, US - The United Nations General Assembly (UNGA) approved a US$3.59 billion budget for 2024, including establishing a...
Geostrategy
ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...
Economy
FTA issues guide to determine natural persons subject to corporate tax
ABU DHABI, UAE - The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural...
Geostrategy
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Business
Oman to expand production of green hydrogen to boost non-oil economy
Hong Kong - The government of Oman’s targets to expand local green hydrogen production could support key credit metrics, such as...
- The government aims to raise renewable energy-based hydrogen production to at least one million metric tonnes (mt)/year by 2030.
- Local state-owned enterprise Hydrogen Oman (Hydrom) signed six investment agreements, worth over US$38 billion, with partners in 2023.
Economy
UAE best performing economy in Arab region, says Arab Monetary Fund
Abu Dhabi, UAE - The United Arab Emirates was named the most economically competitive nation in the Arab world, a...
- The report noted the UAE secured the top position in the government financial sector index, ranking first in the deficit/surplus to GDP ratio and second in the tax burden index
- The UAE also topped the infrastructure sector index, leading in mobile phone subscriptions and the percentage of the population with access to electricity
Business
TAQA, GS Inima and EWEC seal deal
Abu Dhabi's Shuweihat 4 desalination project secures $444 million.
- The S4 RO project is primarily funded 71 percent through debt financing from both local and international banks.
- The financial closing comes after TAQA and GS Inima signed the water purchase agreement with EWEC in August 2023.