ATP and Saudi Arabia’s PIF launch new tennis tech platform
NEW YORK and RIYADH — The ATP Tour, in a landmark partnership with the Public Investment Fund (PIF), has unveiled...
Geostrategy
Hamad Al Marar is EDGE CEO
Business
KACST, ACWA Power sign pact
Business
SIB, Noqodi sign agreement
Business
Business
UAE energy ministry awards DEWA for research, innovation
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has been awarded first place in UAE Ministry of Energy and...
- DEWA was honored for its innovative grid-integrated system which regulates photovoltaic inverters for autonomous voltage.
- The approach to innovation, research and development in renewable and clean energy is in line with government strategies, DEWA CEO said.
Science
UN chief calls for protection of biodiversity on International Mother Earth Day
NEW YORK, US - UN Secretary-General António Guterres issued a statement calling for urgent action to protect the environment and...
- The UN chief highlighted the crucial relationship between humanity and the natural world.
- He called for deeper and faster emissions cuts to limit global temperature rise to 1.5 degrees Celsius.
Geostrategy
Best chance for peace in Yemen in eight years, says UN envoy
Yemen faces its best chance to strike a peace deal since the country's civil war started over eight years ago,...
- The Arabian Peninsula country is one of the poorest in the Middle East, and has been devastated by the war, which started in 2014.
- The government and the rebels have exchanged nearly 900 prisoners in recent days, as hopes grow for peace.
Business
Dubai records $450 million in real estate transactions: DLD
Dubai, UAE - Dubai's real estate market recorded real estate deals worth AED1.8 billion on Monday, Dubai Land Department said....
- The sales included 447 villas and apartments worth AED910.14 million ($247.84m), and 49 land plots worth AED756.08 million ($205.87m).
- The mortgages included 88 villas and apartments worth AED145.7 million ($39.68m) and 19 land plots valued at AED23.35 million ($6.36m).
Geostrategy
Cementing ties: Iran invites Saudi Arabia’s king to visit Tehran
The two countries had severed ties seven years ago after Saudi Arabia executed a revered Saudi shia cleric Sheikh Nimr...
- The two Middle East powerhouses had held several rounds of dialogue in Iraq and Oman before reaching the agreement to mend ties on March 10 in China.
- Saudi delegation to visit Iran to discuss the reopening of the embassy and consulate. Iranian officials say diplomatic mission likely to open before May 9.
Business
Delegation highlights investment opportunities in Ras Al Khaimah
RAS AL KHAIMAH, UAE - A delegation from Ras Al Khaimah Economic Zone (RAKEZ) has concluded its visit to Russia...
- RAKEZ delegation met people from construction, manufacturing, information technology and fast-moving consumer goods trading.
- The audience in Russia was keen on exploring sectors such as cement, building materials, engineering services and raw materials trading.
Economy
UAE minister stresses G20 and COP28 collaboration at WBG meet
The members also exchanged views on progressing the implementation of Multilateral Convention to Implement Tax Treaty Related Measures to Prevent...
- Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, led the UAE delegation at the meeting, held on the sidelines of the 2023 Spring Meetings.
- Ministers of Finance and Central Bank Governors from G20 member countries, invited countries, and international organizations attended the meeting.
Economy
Ajman Bank, EIH ink deal
The bank will act as a strategic partner during listing of EIH.
- Ali El Gebely, Managing Director and CEO of EIH, said the partnership aims to build real value for the future of investment through strategic partnerships.
- Established in 2007, Ajman Bank is an Islamic commercial bank that listed on the Dubai Financial Market in 2008.
Science
UAE’s Rashid Rover to land on Moon on April 25
The Mohammed Bin Rashid Space Center in UAE said that Rashid Rover, onboard the HAKUTO-R Mission 1 Lunar Lander, is...
- During the landing sequence, the Lander will perform a braking burn, firing its main propulsion system to decelerate from orbit.
- Utilizing a series of pre-set commands, the Lander will adjust its altitude and reduce velocity to make a soft landing.
Business
Abu Dhabi QCC drives emirate’s infrastructure development in 2022: Report
Abu Dhabi, UAE - Abu Dhabi Quality and Conformity Council (QCC) has made strides in developing the quality infrastructure of...
- In 2022, the Council approved 26 new technical documents, reviewed 22 draft specifications and technical regulations.
- The report said that the council has conducted over 5 million laboratory examinations since 2014, 606 main services and over 2,394 sub-examinations.
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ATP and Saudi Arabia’s PIF launch new tennis tech platform
NEW YORK and RIYADH — The ATP Tour, in a landmark partnership with the Public Investment Fund (PIF), has unveiled...
Geostrategy
Company News
Latest News
Hamad Al Marar is EDGE CEO
Business
KACST, ACWA Power sign pact
Business
UAE, Hungary ink pact to enhance trade, investment ties
ABU DHABI, UAE – The United Arab Emirates and Hungary have signed an economic cooperation agreement aimed at stimulating trade...
Geostrategy
Parkin record-breaking IPO raises $428m
The offer was oversubscribed 165 times for all tranches combined.
Business
Mubadala to anchor US-based Blue Opal’s second venture capital fund
MIC will be an anchor investor in their second venture capital fund.
Business
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Business
Potential investors value Telegram at $30bn, says co-founder Pavel Durov
MOSCOW, RUSSIA – The Telegram is valued by potential investors at more than US$30 billion, the co-founder of the social...
- The US$30 billion valuation was made by global technology funds in particular, Durov said.
- The Telegram will consider the sale of a portion of shares to its standing users, the businessman added.
Economy
Situation in Red Sea has a limited impact on food exports so far, says FAO
ROME, ITALY – The situation in the Red Sea has not yet been reflected in the pace of prices for...
- The decline in the Food Price Index in February 2024 was led by a decrease in the price for cereals and vegetable oils.
- The route via the Red Sea accounts for slightly more than 10 percent of the global maritime trade volume.
Business
EIC to pay $22m dividend
The company's board had decided 15% cash dividend for H2 2023.
- The company had reported a 113 percent increase in net profit to SAR 201 million in 2023, compared to 94 million a year ago.
- The increase in net profit was attributed to an increase in sales from SR 1.066 billion to SR 1.559 billion