Dubai Islamic Bank unveils digital banking services
Dubai, UAE - Dubai Islamic Bank launched DIB alt, a full-fledged digital umbrella brand to house all of the bank's...
Business
UAE exports to reach $544bn by 2030, says Standard Chartered report
DUBAI, UAE - The UAE is poised to play a pivotal role in global trade with its exports projected to...
Economy
Business
Tabreed plans to divest its $113.5m stake in Qatar Cool
Tabreed, the Dubai-listed National Central Cooling Company, will divest nearly 44 percent of its stake in Qatar District Cooling Company (Qatar...
- Assets located in non-core market for the firm
- The transaction is estimated to be around 417 million dirhams ($113.5 million) and will not have any “material impact” on the firm,
Business
ADNOC Invests $187m to raise Al Nouf oilfield’s capacity
The investment is a step towards achieving the 5 million barrels per day oil production capacity target by 2030, the...
- The company will add 20 wells to the Al Nouf field and expand the use of water and gas injection to enhance oil recovery.
- It has awarded the 39-month engineering, procurement and construction contract of the Nouf development to Robt Stone.
Geostrategy
Japan to assist Egyptian institutions in technical education
Egypt has joined hands with Japan to promote technical education in schools and universities, according to Prime Minister Mostafa Madbouly.
- The prime minister said there were a number of specialist technical universities being rolled out around Egypt and that three had already been established
- Japan’s KOSEN system accepts students from the age of 15 and provides education based on practical training for a period of five years
Economy
Bahrain eServices revenue up 257% to $532m in H1
The number of financial transactions in H1 2021 exceeded 1.6 million, double the number in the same period last year.
- More than 1.1 million financial transactions were carried out on the national portal alone
- This an increase of 76 percent compared to the same period of last year
Business
UAE halts all flights to Kabul after Taliban takeover
The United Arab Emirates has cancelled all flights to Afghanistan, after Hamid Karzai International Airport in Kabul was overrun by...
- Dubai carriers Emirates and flydubai earlier halted flights to Kabul until further noti
- Military flights evacuating diplomats and civilians were taking off from Kabul on early Tuesday morning
Business
Abu Dhabi issues new Covid-19 norms for tourism and leisure venues
Restaurants can operate at 80 percent of their capacity and allow a maximum of 10 people at a table who...
- Those fully vaccinated within the last six months-- vulnerable groups within the last three months-- only will be allowed to attend events.
- A negative PCR test taken within the previous 48 hours will be required with an ‘E’ showing on the Al Hosn app.
Business
Dubai Investments to deliver $953m mixed-use projects by H2
The handover portfolio includes the final phase of the Mirdif Hills Project in Dubai and the Al Taif Business Center...
- The two projects together will provide more than 240,000 sq ft of commercial space with 100 retail units
- There will also be over 280,000 sq ft of office spaces, more than 350 hotel rooms, and more than 1,200 residential and serviced apartments
Business
Dubai to develop as polyurethane innovation hub: Pearl
Pearl Polyurethane has appointed a new CEO as part of an ambitious growth plan to double the size of the...
- Pearl Polyurethane has appointed a new CEO as part of an ambitious growth plan to double the size of the Dubai-headquartered company
- Operating for over 25 years, the company has supplied polyurethane insulation foam systems for several trailblazing projects in the Gulf region
Business
Bahrain bank challenges students to make digital solutions
The National Bank of Bahrain has tied up with Bahrain FinTech Bay to launch challenge youngsters in the country to...
- The goal is to develop solutions for NBB’s digital banking app that focuses on the youth and features the latest trends in user experience
- The three best solutions will get prize money, three months of incubation at BFB, and other prizes
Geostrategy
UAE, Iraq moot bilateral business council
Iraq and the UAE already conduct trade that was worth around $15 billion in 2019.
- Abu Dhabi Chamber Chairman Abdullah Mohammed Al Mazrouei and Iraqi Ambassador discussed the setting up of this council
- Abu Dhabi Chamber Director-General Mohamed Helal Al Mheiri also attended the meeting
Dubai Islamic Bank unveils digital banking services
Dubai, UAE - Dubai Islamic Bank launched DIB alt, a full-fledged digital umbrella brand to house all of the bank's...
Business
Company News
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UAE operates air bridge to provide relief to flood victims in Pakistan
The relief aid includes shelter materials, humanitarian needs, food and medical parcels for those affected by torrential rains and floods
Economy
‘Third’ of Pakistan under water as flood aid efforts gather pace
The rains that began in June have unleashed the worst flooding in more than a decade, washing away swathes of...
Economy
Egypt’s Zohr gas field pumps out record 2.7bn cubic meters of gas
Egypt has posted a record in pumping out 2.7 billion cubic meters of gas per day at Zohr gas field...
Business
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Business
State Grid Corporation of China opens first office in UAE
Dubai, UAE: State Grid Corporation of China (SGCC), the largest utility company in the world, has expanded its presence in...
- State Grid Corporation of China (SGCC), the largest utility company in the world, opened the office in Dubai International Financial Centre.
- The SGCC has invested in utilities in Oman as well as internationally in Italy, Portugal, Greece and the Philippines.
Business
UAE launches net-zero drive for firms
The Ministry of Climate Change and Environment (MoCCAE) Monday launched the UAE Climate-Responsible Companies Pledge. The pledge aims to increase...
- The pledge aims to increase the engagement of the private sector in the country’s decarbonization drive
- The pledge forms the basis of future collaborations between the private sector, non-governmental organizations (NGO) and international organizations.
Business
ADRO, ADGM ink deal to enhance ease of digital visa access
Abu Dhabi, UAE - Abu Dhabi Residents Office (ADRO) and Abu Dhabi Global Market (ADGM) have signed a deal to...
- ADGM will also provide ADRO a list of global companies to provide exclusive benefits for the Abu Dhabi Golden Visa holders.
- The two parties will collaborate to highlight the strategic initiatives of ADRO, including the promotion of the Abu Dhabi Golden Visa and other initiatives locally and globally.