Binaa Al Bahrain aims to create expansive mixed-use projects
ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al...
Business
e& 2023 net profit is US$2.8bn
e& said the net profit is a growth of 3 percent year-over-year.
Business
Business
ADIB, ADGM to support growth needs of Abu Dhabi financial community
Abu Dhabi, UAE -- Abu Dhabi Islamic bank (ADIB) and Abu Dhabi Global Market (ADGM) will collaborate to support the...
- ADIB will provide clients with ADGM licensed managers for Sharia compliant banking and share news on developments in finance sector.
- Also, a formal framework for cooperation in education, business development between the Bank and ADGM is also a part of the deal.
Business
Masar, BTC Network sign agreement for info center, infrastructure
Makkah, Saudi Arabia---Umm Al-Qura for Development and Construction, owner and developer of Masar, the SR100-billion ($26 billion) destination in Makkah,...
- Masar, the SR100-billion ($26 billion) destination in Makkah, aims to enhance the quality of life of the residents and visitors of the Holy city.
- BTC Networks has three decades of experience that will support Masar’s smart infrastructure, in line with the Kingdom’s Vision 2030 goals.
Business
QatarEnergy, Qatargas celebrate loading of 30,000th ship from Ras Laffan
Doha, Qatar---Qatar’s state-owned QatarEnergy and Qatargas, the world's largest liquefied natural gas (LNG) company, celebrated the loading of the 30,000th...
- The LNG cargo was loaded on board the Qatargas-chartered Q-Max LNG carrier "Mekaines."
- Qatargas Terminals are entrusted to handle approximately three million barrels of oil equivalent of both LNG and non-LNG products every single day.
Business
FSRA grants Binance permission to provide crypto custody services
Abu Dhabi, UAE---Binance, world's biggest cryptocurrency exchange, announced that it has received a Financial Services Permission (FSP) from the Financial...
- Binance received a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM).
- ADGM, the International Financial Centre in the capital of the UAE, introduced the world’s first comprehensive and robust virtual asset regulatory framework in 2018.
Business
Arada to participate in Gulf’s largest real estate show, Cityscape Dubai
Arada will showcase its existing projects, Aljada and Masaar, as well as announce new expansion plans that cater to the...
- Arada will showcase its existing projects, Aljada and Masaar, as well as announce new expansion plans that cater to the strong investor demand for property in the UAE
- Arada has so far launched three master-planned communities with a total value of AED 33 billion, making it the largest developer in Sharjah
Science
Kuwait sets 2060 as date to reach carbon neutrality
Sharm el Sheikh, Egypt—Kuwait is planning to achieve carbon neutrality in the oil and gas sector by 2050 and across...
- According to Kuwait's Environment Public Authority chief, Kuwait intends to embrace a national strategy to achieve the target
- The chief said the country is also keen to develop program to reduce carbon emissions through low-carbon development strategies in the oil and gas, energy, transport, industry
Economy
UAE Cabinet approves penalties for flouting Nafis initiatives, programmes
Launched as part of 'Projects of the 50', the program aims to accelerate the UAE's development journey and boost the...
- Launched as part of 'Projects of the 50', the program aims to accelerate the UAE's development journey and boost the economy
- If an establishment undertakes fake Emiratisation, a fine of no less than AED20,000 and not more than AED100,000 for each Emirati employee will be imposed
Business
Abu Dhabi launches association to promote blockchain in region in line with TOP CEO Conference call in May
The Middle East, Africa and Asia Crypto and Blockchain Association aims to bring industry players together to discuss strategies and...
- The Middle East, Africa and Asia Crypto and Blockchain Association aims to bring industry players together to discuss strategies and address the challenges faced by the sector
- Experts at the TOP CEO Conference and Awards held in May 2022 had called for entities such as MEAACBA to inform the masses and develop an ecosystem for blockchain and cryptos
Business
MSC World Europa, 22-deck cruise ship, docks at Doha for World Cup
Doha, Qatar—The 22-deck cruise ship MSC World Europa (floating hotel) has docked at Doha Port for FIFA World Cup fans...
- The cruise ship, designed with the highest standards of security and safety, can accomodate 6,700 World Cup fans
- The ship offers 7 swimming pools, 13 whirlpools, and the most luxurious yacht club, which includes public spaces, outdoor areas and new suites
Geostrategy
UAE President meets Saudi Crown Prince on sidelines of G20 Summit
The two leaders discussed mutual ties, including the agenda of the summit.
- The two leaders discussed mutual ties, including the agenda of the summit
- Saudi Arabia and the UAE are close allies and share extensive political and cultural ties
Binaa Al Bahrain aims to create expansive mixed-use projects
ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al...
Business
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ADNOC L&S boosts barge fleet
Business
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Bahrain suspends economic relations with Israel
DUBAI, UAE - Bahrain has recalled its Ambassador from Israel and decided to suspend economic relations with Tel Aviv in...
Geostrategy
Al Ansari Financial Services okays dividend
The first proposed interim dividend is of $81 million.
Business
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Business
Middle East conflict alters regional energy dynamics
Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact...
- Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact of geopolitics on energy security.
- Achieving peace in the Middle East region is crucial, not just for the well-being of its people but also for maintaining global economic stability and energy security.
Business
Maaden posts net loss in Q3
Sales revenue was US$1.6 billion (SAR 6.22 billion) in Q3 2023.
- Maaden posted a net profit of US560 million (SAR 2.1 billion) in Q3 2022.
- Maaden posted net earnings of $183 million for the first nine months of 2023.
Business
NMDC, AD Ports Group ink MoU
The firms will continue to work closely on future global projects.
- The agreement is in line with the objectives of UAE’s national strategy for industry and advanced technology.
- The MoU will help the two firms to work together to strengthen the global maritime industry and support the economic growth of the UAE.