From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...Business Economy Energy Geostrategy Global
13 million merchandise tons shipped via special corridor, says Ukraine
The corridor was created in August to link Ukraine's ports to the Bosphorus Straits, several weeks after Moscow refused to...Business
Top Saudi banks see increase in deposits and financing in Q2
Top Saudi banks have seen strong growth in the second quarter of the current fiscal in financing and deposits. According...The outlook for cost of risk remains relatively stable, says Alvarez & Marsal
L&A and deposit growth was supported by the merger of NCB and SAMBA to form Saudi National Bank
ESG wins $12.5m contract for upkeep of Abu Dhabi’s Corniche Road
Emirates Stallions Group, a subsidiary of the International Holding Company (IHC,) has secured a $12.5 million contract from the Abu...Landscaping contract is one of largest public municipality projects of its type
ESG has presence in 20 markets in the region, with assets of 537 million dirhams as of the end of the first quarter this year
Dragon Oil to double output by 2026
Dragon Oil to double output by 2026The company is eying new developments in Turkmenistan, Iraq, and Egypt
It achieved a positive performance in 2020, and continued to maintain steady annual growth in 2021
Imdaad signs three contracts in a month
The total value of the contracts signed with several UAE clients is AED90 million.Several UAE-based clients have awarded contracts in retail, sports and real-estate sectors.
Imdaad was hired by the Dubai World Trade Centre for Total Facilities Management services at Expo Village.
UAE has advantage in leading global hydrogen market: Report
DUBAI: The UAE has the foundations and competitive advantages to become one of the largest producers of low-carbon hydrogen in...UAE’s strong infrastructure, export facilities, geographic location key advantages.
ADNOC is already a producer of over 300,000 tons per year of hydrogen in its downstream facilities.
flydubai signs pact with Saudi company
The Saudi company will undertake ground handling services for flydubai.The AED 100m agreement has been signed for five years.
flydubai said the agreement reflects the longstanding relations between it and Saudi partners.
Al Salam Bank buys back shares
The bank has bought 320,664 shares on DFM and Bahrain Bourse.The bank has bought 320,664 shares on Dubai Financial Market and Bahrain Bourse
The move increases the total holding of treasury shares from 110,779,910 to 111,100,574
UAE outperforms ten global tourism destinations in H1
The emirates achieves hotel occupancy rate of 62 percent, ahead of the US, UK and TurkeyHotel revenues grew by 31 percent to reach AED11.3 billion.
Domestic tourism accounted for 30 percent of the total number of guests at hotels.
New Iraq project to reduce flaring at oilfields, consolidate gas production
The new project, signed in 2017 with oil services company Baker Hughes, will eventually allow 200 million cubic feet of...The implementation of the project and the gas exploitation may have to wait 30 months for the completion of infrastructure works
The amount of gas torched in Iraq annually reached 17.37 million cubic metres last year, says the World Bank
Saudi biggest Arab economy, Sudan most indebted
The Saudi economy, as per IMF, is recovering "well" from the pandemic, estimating the kingdom's non-oil economy will grow by...COVID-19 increased the average debt in Arab countries to 81.8 percent of its GDP in 2020, up from 69.4 percent in 2019.
Qatar has the highest GDP per capita in the Arab world due to its small population.
