UAE stocks generate over US$272m cash flows on Monday
Abu Dhabi, UAE--UAE stocks generated strong cash flows Monday, with market liquidity surpassing $272 million. International Holding Company (IHC) and...Business
Decree issued to form Board of Dubai Corporation for Ambulance Services
Dubai, UAE -- Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum Monday issued a decree for the formation of the...Business
GCC nations eye Hyperloop travel by 2030
It is predicted that the Hyperloop technology will carry between 45 and 50 million passengers yearly in the Gulf Arab...It is predicted that the Hyperloop technology will carry between 45 and 50 million passengers yearly in the Arab Gulf states using clean and renewable energy
The Dubai government owned DP World has granted permit to Virgin Hyperloop to develop the technology in the emirate
Stock markets in GCC rise as oil prices gain
Most stock markets in the Gulf rose on Thursday as oil prices gained on growing fuel demand and a bigger-than-expected...Dubai's main share index added 0.2%, extending gains from the previous session
blue-chip developer Emaar Properties rising 0.7% while DAMAC Properties advanced 2.4%
Bahrain Bourse taps Oxford Business Group for ESG reports
OBG research is expected to analyze the steps that publicly listed companies are taking to adopt and fully embrace ESG...
Abu Dhabi’s Mubadala and Trafigura Group to sell Spanish mining complex for $1.87bn
Abu Dhabi’s sovereign investor Mubadala Investment Company and global commodities trader Trafigura Group will sell the Minas De Aguas Teñidas...The acquisition is fully funded through a combination of cash, debt and equity
The transaction is expected to be completed by March 2022
Oman-UAE tourism sector partners hold workshop
The workshop was reportedly aimed at highlighting Oman’s participation in Expo 2020 Dubai through the encapsulation of the country’s civilization...Oman recently exempted citizens of 103 countries from visas for residency of up to 10 days to boost tourism activity
Travel and tourism agencies and organizations from around the world are said to have welcomed the visa-free move
BitOasis to be registered in GoAML
BitOasis offers over 15 digital assets to trade against the dirham.The Executive Office of Anti-Money Laundering and Counter Terrorism Financing — or AML/CTF — has welcomed the confirmation
The registration is expected to help add yet another layer of security for both fintech startups and the national economy
UAE, Egypt explore prospects of greater space cooperation
The two sides also discussed facilitating new growth partnerships between the public and private sector.The meeting explored the potential for greater collaboration in all space-related fields between the two countries
The two parties also looked at opportunities to strengthen ties across science, technology, engineering, and mathematics
PwC Middle East to hire 6,000 staff in five years
PricewaterhouseCoopers (PwC) Middle East intends to build its largest headquarters in Riyadh, and hire more than 6,000 staff across the...PwC predicts its Saudi HQ will attract other global firms to the Kingdom
Location will be decided in the next two years
EDB, Emirates NBD sign MoU to guarantee credit for SMEs
The program will focus on sectors such as manufacturing, healthcare, infrastructure, food security, and technology.As part of the MoU, EDB will give financing guarantee coverage of up to 50 percent of the amount lent to SME customers by Emirates NBD
This will be a maximum of AED5 million (around $1.36 million) for larger SMEs and up to AED500,000 (around $136,000) for smaller customers
UAE, China discuss strategic ties, common concerns
The two countries also reviewed bilateral partnership and cooperation in confronting the Covid-19 pandemic.Sheikh Abdullah bin Zayed Al Nahyan, the Minister of Foreign Affairs and International Cooperation attended the discussions for the UAE
He spoke on the phone with Wang Yi, State Councilor and Foreign Minister of China
