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
Business
CBUAE unveils FIT program to promote digital transactions
Dubai, UAE---The Central Bank of UAE Sunday launched Financial Infrastructure Transformation Program (FIT program) to accelerate the digital transformation in...
- In a statement, the bank said the FIT is a step towards enabling the CBUAE to be among the top central banks globally.
- As part of the FIT Program, the CBUAE will strengthen its digital leadership by adopting advanced supervisory technologies and data management solutions.
Business
International Defense Conference 2023 to begin in Abu Dhabi
Abu Dhabi, UAE - The International Defense Conference 2023 will be held on 19th February at the ADNOC Business Centre...
- The event will shed light on the rapid development of artificial intelligence and advanced technologies.
- The previous edition of IDC was held in 2021, brought together 24 international experts, over 400 on-ground participants.
Geostrategy
UAE and Japan to boost collaboration in skill development
The two sides reaffirmed their keenness to advance bilateral cooperation in the fields of human resources and skill development.
- The two sides reaffirmed their keenness to advance bilateral cooperation in the fields of human resources.
- The meeting also reviewed the legislation and procedures regulating the UAE labor market.
Science
DEWA cleans beach, plants mangrove as  part of 26th National Environment Day
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) participated in a campaign to clean the beach and plant mangroves...
- DEWA organized virtual environmental lectures in Arabic and English, in cooperation with Dubai Municipality.
- More than 250 DEWA employees and their families participated in the event.
Economy
Dubai Customs, Dubai Chambers discuss support for private sector
DUBAI, UAE - Dubai Customs and Dubai Chambers discussed supporting businesses and the private sector and enhance the emirate’s competitiveness...
- Dubai Customs, Dubai Chambers discussed their shared plans and strategies, including the electronic integration of services.
- They also discussed the development of new services to consolidate Dubai’s position as a major global economic hub in the next 10 years.
Geostrategy
UAE, France, India to join hands in energy, climate change sector
The United Arab Emirates, France and India have issued a joint statement announcing the establishment of a trilateral cooperation initiative...
- The three countries affirmed that the trilateral initiative will serve to promote the design and execution of cooperation projects in various fields
- The initiative will also serve as a platform to expand cooperation between the three countries’ development agencies on sustainable projects
Business
PIF, AeroFarms to build indoor farms
The farms will have a capacity of 1.1m kg of crops per year.
- The agreement aims to optimize natural resources through indoor vertical farming, which requires no arable land.
- The partnership will allow for sustainable, local sourcing of high-quality crops all year round, grown with AeroFarms' AgTech platform.
Business
Arada finalizes first set of homes worth $6.53bn in third phase of Sharjah project
SHARJAH, UAE -- Arada announced on Tuesday that it has completed the first set of homes in East Village as...
- Under the project, which features 2,000 units, , a total of 1,621 apartments have been finished across 14 buildings
- Each apartment block has communal areas, with additional space set aside for local facilities, including small shops and cafes
Business
‘Saudi to invest US$266bn in cleaner energy’
Saudi Arabia plans to invest more than US$266 billion to produce cleaner electricity and expand its power grid, the kingdom's...
- Despite its goal of achieving net zero carbon emissions by 2060, Saudi Arabia remains hugely dependent on crude oil exports.
- The Saudi minister said the Kingdom is determined to be the leading exporter of clean hydrogen.
Business
UAE launches ‘Tax Support’ program to promote compliance with laws
Dubai, UAE - UAE's Federal Tax Authority (FTA) started the ‘Tax Support’ initiative to raise tax awareness among UAE’s business...
- The step is likely to help the businesses in enhancing compliance with tax laws and regulations.
- As a result, the first workshop for 2023 under the initiative was held on 24th and 25th January in Oud Metha, Dubai.
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
Vodafone Qatar 2023 profit up
Business
Latest News
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...
Business
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...
Economy
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Business
DMCC registers 2,692 new companies in 2023, its second-best year on record
Dubai, UAE -- A total of 2,692 new companies joined Dubai Multi Commodities Centre (DMCC) last year, bringing the total...
- The launch of new industry ecosystems, the expanded service offerings and the physical growth of the Uptown Dubai district boosted the performance.
- DMCC said it accounted for 11 percent of Dubai’s total FDI inflows and cemented its status as a global hub for trade in commodities like diamonds and precious stones.
Business
Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
- During the first two months of 2024, India, the US, Saudi Arabia and Iraq accounted for the majority of ACI’s exports.
- The chamber's exports to the US surged during the first two months of 2024 to about US$297 million compared to US$275 million.
Business
Saudi Tourism Authority, Trip.com Group sign global agreement
BERLIN, GERMANY – Saudi Tourism Authority (STA) and Trip.com Group have announced a significant global partnership, which will drive greater...
- The joint effort aims to bring over 350 thousand additional tourists to Saudi over the course of the agreement.
- The partnership is vital as it coincides with exceptional growth and transformation in the global tourism industry.