UAE construction market soars to $94bn in 2023
Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of...Business Economy
Jafza reports 28% year-on-year growth in 2023 of new Indian companies
DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the...Business Economy Geostrategy
Energy minister leads UAE delegation to development road conference in Iraq
ABU DHABI, UAE - Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei headed the UAE delegation to the...The one-day conference brought together transport ministers and officials from the Gulf Cooperation Council, Iran, Turkey, Syria and Jordan.
The huge infrastructure project will link southern Iraq to the border with Turkey from where it will connect to rail and road networks in Europe.
US leaders finalize deal on debt ceiling week before default
President Joe Biden and Republican leader Kevin McCarthy announced a deal to raise the debt ceiling, dragging the United States...Republican speaker McCarthy said there was still "a lot of work to do, but I believe this is an agreement in principle that's worthy of the American people."
US President Joe Biden said the deal was "good news for the American people, because it prevents what could have been a catastrophic default.
EDB, Paraguay’s Development Finance Agency ink MoU to boost collaboration
ABU DHABI, UAE - Emirates Development Bank (EDB), a key financial engine for the economic development and industrial advancement of...EDB and AFD will leverage their outstanding capabilities and professional expertise in agritech financing.
The two firms will share their experiences in financing SMEs and providing smooth and flexible access to capital.
Bupa Arabia Q1 net profit $50.28m
Compared to the last quarter of 2022, net profit fell by 1.4 percentNet investment income rose by 24.2 percent year on year and net other revenue doubled YoY.
Other operating expenses rose 20.4 percent YoY and gross written premiums increased 28.1 percent YoY.
China’s first homegrown passenger jet C919 completes maiden flight
Beijing hopes the C919 commercial jetliner will challenge foreign models like the Boeing 737 MAX and the Airbus A320, though...China has invested heavily in production of the homegrown jet as it seeks to become self-sufficient in key technologies.
The aircraft is manufactured by state-owned Commercial Aircraft Corporation of China (COMAC), but many of its parts -- including its engines -- are sourced from overseas.
Sharjah set to hold second UAE-China Tyre & Auto Parts Expo
Sharjah, UAE--More than 130 auto and tyre companies from China will take part in the second edition of the "UAE...According to Saif Mohammed Al Midfa, CEO of Expo Centre Sharjah, the exhibition is expected to become the most sought after platform for auto-industry stakeholders
The expo will showcase the latest arrivals in auto parts and accessories, tire and battery products, automotive electronics and maintenance equipment
Global investment in clean energy to rise to US$1.7trn: IEA
Paris, France--Investment in clean energy across the world is expected to rise to US$1.7 trillion in 2023, with solar set...According to the IEA report, investment across the globe in clean energy technologies is vastly outpacing spending on fossil fuels
With solar in the forefront, low-emissions electricity technologies are expected to account for almost 90% of investment in power generation
More females steer toward luxury vehicles
Bentley's Regional Director for the UK, Middle East, Africa, and India also anticipates further growth luxury car market throughout 2023...Demand for luxury cars is set to stay strong in the Middle East, including GCC, due to economic stability and business activity in the region, says Richard Leopold of Bentley
Bentley expects the GCC luxury car market to continue growing in 2023, adds Leopold, the brand's Regional Director of Bentley for the UK, the Middle East, Africa, and India
Masdar city to review benefits, challenges of EVs in three day summit
ABU DHABI, UAE - Two of Masdar's spokespeople will address key issues, challenges, and opportunities in electric vehicle innovation during...The three-day summit is scheduled to take place at the Abu Dhabi National Exhibition Center from May 29-31.
Lukas Sokol, Masdar City’s head of master planning, will shed light on the city’s work in introducing electric, autonomous vehicles.
Twitter withdraws from EU disinformation code
Twitter has decided to leave the EU's disinformation code, a voluntary pact that groups together the major social platforms, but...Since buying the social network six months ago, billionaire Elon Musk seems to have relaxed the moderation of problematic content.
The code was written by the industry players themselves and contains over three dozen pledges such as better cooperation with fact-checkers.
