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ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

Qatar Airways annual profit $2bn

This was a record 28% jump in annual net profit.

Masdar issues $1bn bond

Its green bond program hits $2.75 billion.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Saudi grants almost 450,000 metric tons of oil to Yemen

AL-MAHRA, YEMEN - The second batch of the new Saudi oil derivatives grant of 4,491,000 metric tons of diesel was...
  • The grant comes as part of the Kingdom's support for the Yemeni people under the directives of Saudi King Salman and the Crown Prince
  • It also comes as an affirmation of the Saudi Arabia's keenness to achieve security, stability and development for the Yemeni people

Anthropic hit with class-action lawsuit over copyright infringement

Anthropic, the Amazon-backed artificial intelligence startup, on Monday, was hit with a class-action lawsuit in California federal court over alleged...

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Dubai SME joins hands with CXDA to attract investment

DUBAI, UAE – The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), a part of Dubai...

Resilient supply chains are essential to global trade: Expert

DUBAI, UAE – For over 30 years, globalization has been the evergreen megatrend as global trade has helped lift some...

Utilizing AI is only possible if skill gap is bridged, says expert

DUBAI, UAE - The Artificial Intelligence (AI) revolution is upon us, with AI becoming a pervasive force in our daily...

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Dragon Oil, Turkmennebit ink MoU

Aim is to expand Dragon Oil’s investments in Turkmenistan.
  • Dragon Oil has been engaged in oil and gas cooperation with Turkmenistan on the basis of a production sharing agreement since 2000.
  • The company’s primary focus is on the extraction of hydrocarbon resources in the Caspian Sea, in the Cheleken Contract Area.

Dubai Center for Family Businesses issues guidelines

DUBAI, UAE –  The Dubai Center for Family Businesses, which operates under the Dubai Chambers umbrella, has released a ‘Sample...
  • The ‘Sample Article of Association for Family Businesses’ outlines a set of options for companies to update their contracts.
  • The Article of Association takes into account the requirements of family businesses who are registered as limited liability companies (LLCs).

Penguin, SkyBlue ink MoU

The aim is to redefine outdoor media advertising in Abu Dhabi.
  • Penguin and SkyBlue will collaborate on key advertising locations, with this being the Malaysian firm’s first move into the Abu Dhabi market.
  • This follows an agreement between the Malaysian outdoor advertising company with the Road and Transport Authority (RTA), Dubai.