Nakheel, Meydan join Dubai Holding
The Board of Directors of both Nakheel and Meydan will be abolished.Business
Air Arabia shareholders approve 20% dividend for FY2023
SHARJAH, UAE – Air Arabia shareholders approved the distribution of a 20 percent cash dividend for the financial year ended...Business Aviation
New regulations aim to restrict greenwashing practices
PARIS, FRANCE- Common standards unveiled on Monday for companies to report their greenhouse gas emissions could curb misleading climate claims in...Currently, most large companies report how many tons of carbon they emit into the atmosphere each year, but the data is often not reliable.
The poor quality of data and lack of common standards allows companies to overstate their climate credentials - the practice of "greenwashing".
SPARK, Hutchinson Ports ink pact
SPARK Logistics Company will meet the needs of investors.SPARK is the world's largest energy hub, spanning 50 square kilometers in the Eastern Province of Saudi Arabia.
Under the agreement, SPARK Logistics Company has been granted concession rights to provide logistics services.
Institutional investors buy more local stocks in UAE markets since Jan
Abu Dhabi, UAE -- Institutional investors bought more local stocks than they sold in the Abu Dhabi Securities Exchange (ADX)...Net purchases by institutional investors totaled AED 5.6 billion ($1.52 billion), after buying stocks worth AED165.4 billion and selling AED159.7 billion in stocks.
Institutional investments accounted for some 78 percent of the total trading volume, both buying and selling, in both markets since the start of the current year.
Aston Martin, Lucid Group sign deal
Lucid Group to help make Aston Martin's luxury 'green' cars.California-based Lucid will supply technology, including battery systems, for cash and shares worth about $232 million.
News of the tie-up, subject to shareholder approval, sent Aston's stock ten percent higher to 360 pence on the rising London stock market.
Japan fund to buy out JSR
Japan Investment Corporation hopes to finalize the deal by December.JSR is a market leader in the manufacture of materials including photoresists for circuit formation, which are central to producing semiconductors.
JIC is an investment fund founded in 2018, with the government as the majority investor, along with smaller private-sector partners.
ADNOC Distribution, HPCL ink agreement
Will help to enhance efficiency of overseas operations.With an annual demand of three billion liters, India is among the world’s most significant markets for lubricants.
ADNOC Distribution aims to enter this dynamic market, gaining access to a vast network of over 28,000 retail stations.
Act wise as institutional investors fuel Bitcoin’s rise
This trend has been particularly emphasized with Blackrock, one of the world's most influential fund managers, applying for what could...As Bitcoin charts an impressive course, hitting a 12-month high, one major catalyst can be attributed to the growing interest of institutional investors in the cryptocurrency
This trend has been particularly emphasized with Blackrock, one of the world's most influential fund managers, applying for what could be the US's first Bitcoin spot ETF
Bahrain central bank $185m Treasury bills oversubscribed 109%
Manama, Bahrain -- Treasury bills valued at Bahrain Dinar 70 million ($185 million) issued this week by the Central Bank...The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the Government of the Kingdom of Bahrain.
The total outstanding value of Government Treasury bills, typically issued with maturities of 91 days, 182 days, and 364 days, is BD 2.110 billion.
Cruise visitors to Qatar in 2022-23 rise 151 percent
DOHA, QATAR - New data from Qatar Tourism (QT) revealed that the country welcomed 253,191 cruise visitors during its 2022-23...Qatar has seen a steady increase in cruise ship arrivals and passenger numbers, and the industry is poised for further growth in the seasons to come.
In 2022-23 season, most cruise passengers originated from Germany (31 percent), Italy (10 percent), Russia (6 percent) and the United Kingdom (3 percent).
Immensa opens facility in Saudi Arabia
The $15 million is located in Dammam area of the Kingdom.The facility is the first private sector industrial grade additive manufacturing center in the Kingdom.
It is equipped with cutting-edge technologies and is supported by more than 30 specialized engineers, the company said in a statement.
