DWTC welcomes 2.47m visitors in 2023, says EVP
DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC) Mahir Julfar said that the DWTC's performance in 2023...Business Economy Tourism
UAE stocks see US$1.7bn inflow, IHC, Emaar lead
ABU DHABI, UAE- The UAE stock markets attracted liquidity of nearly AED6.5 billion during the week's trading, with the focus...Business Markets
Gulf Navigation posts profit
Its net profit rose to US$9.53m in the first nine months of 2023.The Dubai-based company in a statement said that operating revenue for the nine-month reached $23 million
The company CEO said that the management was focusing on achieving sustainable returns for their shareholders
Rolls-Royce to cut 2,500 jobs
It will cut six percent of its staff to build a leaner company.Chief executive Tufan Erginbilgic said the company was building a Rolls-Royce that is fit for the future
Last CEO Warren East had axed more than 9,000 jobs and launched a major divestment programme in 2020
UAE Minister Al Gergawi backs ‘curiosity’ and ‘equity’ at World Economic Forum
Dubai, United Arab Emirates – Considering opposing views, exchanging ideas and developing pathways for collaboration are essential to improving lives...UAE Minister of Cabinet Affairs Mohammad Abdullah Al Gergawi called for asking big questions to create a better future
Panelists in the opening plenary made the case for connecting the dots across industries and disciplines
Egypt sells MENA’s first ‘sustainable panda bonds’ in US$500m issue
Cairo, Egypt--Egypt has issued the first sustainable Panda bonds in the Middle East and North Africa worth $500 million with...Egypt's Finance Minister Mohamed Maait said the country succeeded in having a discounted pricing for the panda bonds at 3.5% annually for three years
He said the bond issuance is guaranteed by international banks including the Asian Infrastructure Investment Bank (AIIB) and the African Development Bank (AFDB),
Red Sea Global builds largest off-grid EV charging network in Saudi Arabia
RIYADH, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, Amaala...The network includes more than 150 charging stations spread across phase one of The Red Sea destination area.
The stations are placed to keep RSG’s initial fleet of 80 electric Lucid and Mercedes vehicles charged and on the road.
UAE invests $36bn in renewable energy projects in 2022, says ADDED Â chairman
ABU DHABI, UAE - Chairman of the Abu Dhabi Department of Economic Development (ADDED) Ahmed Jasim Al Zaabi has said...The UAE has successfully enticed a staggering US$23 billion in 2022, up 10 percent from 2021, to be ranked 16th globally in FDI attraction.
UAE is now the world's fourth-largest recipient of greenfield projects, with nearly a thousand ambitious ventures announced last year.
OERC and Arkan partner to transport raw limestone to UAE
Abu Dhabi, UAE -- Oman and Etihad Rail Company (OERC), the developer and operator of the UAE-Oman Rail Network, signed...Oman and Etihad Rail will provide logistics solutions for Emirates Steel Arkan through annual transportation of 4 to 6 million tons of high-quality raw materials to Al Ain.
This ensures Emirates Steel Arkan can produce and export 2-3 million tons of finished goods to regional markets each year.
Saudi Crown Prince launches Ardara company to develop AlWadi
Riyadh, Saudi Arabia -- Saudi Arabia's Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud Monday announced the launch of...This will be Ardara’s first development and will become a vibrant urban center and tourist destination for both local and international visitors, PIF said.
AlWadi in Aseer region – meaning, the valley – will span 2.5 million square meters and will be developed with sustainability at its core.
Al Seer Marine receives new very large gas carrier, fleet size rises to 20
ABU DHABI, UAE - Al Seer Marine, a subsidiary of Abu Dhabi-based International Holding Company, has announced the takeover of...This marks the second VLGC delivery under the US$134 million deal signed by ABGC DMCC, a JV between Al Seer Marine and BGN International.
The VLGC North Gas, with a cargo capacity of 84,326 cubic meters, was built by Hyundai Heavy Industries and was handed over to ABGC DMCC in South Korea.
Funds raised by startups within TECOM Group’s in5 hub up 20%
Dubai, UAE -- in5, part of TECOM Group and an innovation and entrepreneurship hub in the region, has witnessed a...In the first nine months of 2023, a total of 120 new ventures joined in5's portfolio, which amounts to a new start-up almost every other day between January and September 2023.
Since its establishment in 2013, in5 has nurtured more than 850 start-ups, with representation from over 50 nationalities, including Canada, China, France, India and Russia.
