Dubai Islamic Bank completes $1bn sovereign financing Pakistan
Dubai, UAE -- Dubai Islamic Bank (DIB) has announced the successful completion of a landmark US$1 billion syndicated term-finance facility...Business
‘Wadeem’ sold out for $1.49bn
This is the highest Abu Dhabi real-estate release to date.Company News Business
14 financial giants confirm expansion into Abu Dhabi: ADGM
Abu Dhabi, UAE -- Abu Dhabi Global Market (ADGM), a leading international financial center of the UAE’s capital, Thursday announced...Abu Dhabi Global Market said these institutions represent a total Assets Under Management AUM of $452 billion.
ADGM also recorded six further announcements made by emerging growth firms, bringing the total to 23.
MoHRE asks over 12,000 private firms to meet Emiratization targets
DUBAI, UAE – The Ministry of Human Resources and Emiratization (MoHRE) has notified over 12,000 private companies with 20-49 workers...Companies with 20-49 workers will be required to hire one UAE national in 2024 and another one in 2025.
This step is expected to create around 12,000 jobs annually for UAE nationals in 2024 and 2025 in various sectors.
Abu Dhabi positioned in world’s fastest-growing economic corridor: Official
Abu Dhabi, UAE -- Dr. Karim El Solh, Co-Founder and Chief Executive Officer at Gulf Capital, said Thursday Abu Dhabi...He added that Abu Dhabi Finance Week took center stage, drawing policymakers, financial leaders, and investors worldwide.
El Solh underscored Abu Dhabi's newfound status as the go-to investment gateway in Asia for many global and regional investors.
Saudi consumer spending up 4 percent in October: SAMA
Riyadh, Saudi Arabia -- Consumer spending in Saudi Arabia increased 4 percent to SAR 110 billion ($29.32 billion) in October,...Consumer spending includes total cash withdrawals, point-of-sale (POS) transactions and e-commerce sales through "Mada", Argaam reported.
Cash withdrawals from ATMs declined by almost 3 percent YoY to roughly SAR 45.5 billion in October.
Dubai Taxi IPO raises US$315m
It received more than US$41 billion in investor orders.The IPO will result in total gross proceeds of approximately US$ 315 million being paid to the Department of Finance, representing the Dubai government
DTC said the previously announced offering size consists of a total of 624,750,000 shares, equivalent to 24.99% of DTC’s total issued share capital
Honda to make electric mopeds
It will pour US$3.4bn into the new venture this decade.The company said it plans to launch 30 new electric models by 2030 and to reduce the current cost of electric motorcycles by 50 percent
In 2022, the electric motorcycle market was worth $30 billion and is expected to grow by almost 19 percent per year between 2023 and 2030
Fintech fuels growth in Islamic finance sector
Islamic banking, making up 70% of the Islamic finance market's assets, is undergoing a transformative phase, fueled by fintech innovations...Islamic banking, making up 70% of the Islamic finance market's assets, is undergoing a transformative phase, fueled by fintech innovations and poised to hit $4 trillion by 2026
The UAE and Saudi Arabia are at the forefront of the Islamic fintech revolution, setting new digital standards and driving the sector's global expansion, says a latest report
UAE and Cuba look to boost economic, energy ties
The discussions between the UAE president and the Cuban president at Expo City Dubai focused on cooperation in various fields...The meeting also covered the UN Climate Change Conference (COP28), starting today at Expo City Dubai
The two leaders exchanged views on regional and international developments and a number of other issues
ENOC and Neste sign MoU to drive sustainable aviation fuel initiatives
Dubai, UAE--ENOC Group has signed a memorandum of understanding (MoU) with Neste, the world's leading producer of sustainable aviation fuel...The partnership is the first step in ENOC’s plan to supply blended SAF to all its customers across its entire network by 2030
The fuel taken from renewable raw materials has the potential to reduce air travel related carbon emissions by up to 80%
UAE to pump CO2 into rock as carbon capture debate rages
Fujairah, UAE - High in remote mountains in the oil-rich Emirates, a new plant will soon take atmospheric CO2 and pump...The first CO2 injection is expected during COP28, and where the debate over hydrocarbons will be a key battle between campaigners and the oil lobby.
Oil producers are throwing their weight behind carbon capture and storage (CCS) technology as a global warming solution despite criticism from climate experts.
