Gross written premium rises by 12.7% in Q4 2023 to US$14bn, says CBUAE
ABU DHABI, UAE - The UAE insurance sector continued to grow in Q4 2023, as reflected by the increase in...Business Economy Tech & Media
China records expansion in factory activity for first time in six months
Shenzhen, China--China's manufacturing activity expanded for the first time in six months in March.The official purchasing managers' index (PMI) rose...Business
48% of people in UAE expect cross-border payments surge in 2024
Dubai, UAE -- Nearly 48 percent of individuals in the UAE anticipate an uptick in cross-border payments over the next...The report reveals that 53 percent of respondents in the UAE prioritize lower fees, 52 percent prefer speedy transactions, and 41 percent seek a straightforward remittance process.
A remarkable finding is the surge in the use of apps for cross-border payments among UAE SMEs, with 82 percent leveraging this technology.
Saudi EXIM Bank, Obeikan AGC ink pact
Obeikan AGC Glass will have an export credit insurance policy.This partnership will enable Obeikan AGC Glass to secure their international sales against non-payment risks posed by global buyers.
This agreement significantly amplifies the prospects for growth and penetration into new regional and international markets.
Gulftainer extends concession pacts
The agreements with Sharjah Ports extended for another 35 years.The extended agreements allow Gulftainer to manage, operate and further develop Sharjah Container Terminal (SCT) and Khorfakkan Container Terminal (KCT) throughout this century.
Gulftainer signed the original concession agreements for operating and managing the container terminal at Port Khalid in 1976 and the container terminal at Port Khorfakkan in 1986.
Attack in area claimed by Sudan, S. Sudan, leaves 32 dead
A government representative for Abyei condemned the attacks that occurred early Sunday in two counties by armed militias and soldiers...Bulis Koch Aguar Ajith, information minister for Abyei said the latest "barbaric attacks on civilians" were a continuation of deadly violence that broke out last week in the region
Security Council this month voted unanimously to extend the 12-year-old UN peacekeeping mission in Abyei which currently comprises some 4,000 military and police personnel
First internationally recognized renewable ammonia shipment made
Dubai, UAE -- Abu Dhabi-based Fertiglobe, a strategic partnership between ADNOC and OCI Global, has completed the maiden shipment of...The renewable ammonia was generated at Fertiglobe's facilities in Egypt utilizing renewable hydrogen from its Egypt Green Hydrogen electrolyzer pilot.
This eco-friendly ammonia will play a crucial role in producing near-zero emissions synthetic soda ash, a vital component in laundry powder, for consumer goods giant Unilever.
OpenAI faces leadership crisis as staff threaten to follow Altman to Microsoft
This mass discontent follows the unexpected dismissal of OpenAI co-founder Sam Altman, whose leadership in AI advancements like ChatGPT has...This mass discontent follows the unexpected dismissal of OpenAI co-founder Sam Altman, whose leadership in AI advancements like ChatGPT has been crucial.
Reports had also been circulating that Altman is planning to launch a new AI venture and announcement was expected as soon as this weekend
UAE holds 19% of global sustainable bonds, says Fitch Ratings
DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues...Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues in the region.
Environmental, social and governance bonds in UAE constitute over 19 percent of the global ESG bond market.
Dubai Customs logs 13% growth in transactions in first nine months of 2023
DUBAI, UAE – Dubai Customs has experienced a robust 13 percent increase with 21.6 million transactions during the first nine...The upswing aligns with the targets of Dubai’s economic agenda D33, which seeks to double foreign trade.
By the end of the third quarter of 2023, Dubai Customs had processed approximately 18.8 million customs declarations.
AJEX, MODON sign partnership
AJEX will have rights to operate warehousing facilities at Modon.These facilities will be utilized for the storage of a diverse range of goods, including hazardous materials, food and beverage products, and general items.
The newly secured warehousing space aligns with Dammam's pivotal role in the Kingdom's oil, gas, and industrial sectors, AJEX said in a statement.
Adoption of electric vehicles in US face infrastructure hurdles
NEW YORK, US - The US transition to electric cars has hit a speed bump, with concerns about vehicle range and...Automakers in recent weeks have pushed back EV sales targets and delayed capital projects as they seek to reduce inventories of unsold EVs at dealerships.
The network of EV charging stations in the US remains dodgy, with many areas either lacking infrastructure or equipped with unreliable machines
