TDRA inks pact with PCFC’s Dubai Maritime Authority
DUBAI, UAE - The Telecommunications and Digital Government Regulatory Authority (TDRA) has signed a Memorandum of Understanding (MoU) with the...Business Geostrategy
Saudi Arabia ‘racing against time’ to finish F1 track
The floodlit circuit is expected to run over 6.175 km (3.8 miles), the second-longest on the calendar, and will feature...A visit to the track this week showed there was still much work to be done
Buildings were still under construction and cranes and diggers were on site
New FTA services to ease VAT refunds for UAE homes
The new services are said to offer four different services that aim to raise the target audience’s awareness, provide them...The initiative is expected to include a weekly interactive virtual workshop, the Virtual Session
This would introduce UAE citizens eligible to professionals for consultations and clarification about the VAT refund process
Abu Dhabi H1 real-estate deals hit $6.4bn
The real-estate sector in Abu Dhabi recorded 3,425 real-estate sales transactions worth AED9.02 billion (around $2.46 billion), and 3,621 mortgage...The H1 recorded value has been achieved through 7,046 real-estate transactions
These include transactions and mortgages of land, buildings, and real-estate units of all kinds
$80 oil sparks mixed fortunes for world economy
Rising oil prices handed a major boost to producers but threaten the global recovery and stoke inflationary pressures because they...Global supplies have been disrupted because US production remains hampered by the ongoing fallout from Hurricane Ida.
OPEC now expects global oil demand to exceed its pre-pandemic level in 2022 thanks to Covid vaccines and recovering economies.
Construction works complete on a stretch of UAE rail network
DUBAI:Â Etihad Rail has completed construction works on a stretch of the 1200-km UAE National Railway Network, the company said on...The work was completed ahead of schedule on Package A of Stage Two, which extends over 139 km.
40 percent of the network’s annual transport capacity has been reserved through commercial agreements.
SEDCO Capital, Lombard Odier launch Shariah-compliant fund
The Fund's composition reflects a convergence of SEDCO Capital's Prudent Ethical Investment (PEI) approach with Lombard Odier's investment expertiseThe Fund's composition reflects a convergence of SEDCO Capital's Prudent Ethical Investment (PEI) approach with Lombard Odier's investment expertise
The Fund aims to deliver capital growth through an active asset allocation strategy with the goal of outperforming the Dow Jones Islamic Market World Developed Total Return Index
ACWA Power final IPO price nearly $15 per share, targets raising $1bn
The company expects to raise more than $1 billion from the public offering, valuing the company at about $10 billion.Retail offering started on Wednesday and will run until Oct. 1
ACWA is considering issuing green bonds in 2022 and beyond to raise funds for some renewable energy projects.
Elon Musk wants US regulators to let cryptocurrency ‘fly’
Los Angeles: Tesla chief executive Elon Musk thinks US regulators should take cryptocurrency out of their crosshairs, leaving it free...China's central bank last week said all financial transactions involving cryptocurrencies are illegal.
Tesla early this year announced it had bought $1.5 billion worth of Bitcoin.
Tariq Al Samahiji CEO of GFH Group’s UK ops
Al Samahiji is the non-executive chairman and co-founder of Orpheus Partners.He served as CEO of BNP Paribas Najmah and Global Head of BNP Paribas Islamic Finance and Investments.
GFH said it currently has assets of over $12 billion globally and looks to build its international portfolio through organic and inorganic growth.
DEWA partners with Global Manufacturing and Industrialisation Summit
DEWA has implemented Fourth Industrial Revolution technologies, such as Artificial Intelligence, Cloud Computing and the Internet of Things to drive...DEWA and GMIS will collaborate to promote the use of advanced energy-saving innovations
The collaboration will enable greater synergy between utility providers and industrial enterprises to eliminate energy wastage
