Digital innovation spurs gender parity in Middle East
Technology, from digital platforms to AI, offers a transformative avenue for empowering women, says Isabel Neiva of Kearney Middle East...Business
EDB’s contribution to UAE’s industrial GDP in 2023 rises to US$1.1bn
ABU DHABI, UAE – Emirates Development Bank (EDB) has unveiled its 2023 results, showcasing an extraordinary year of achievements and...Business Banking & Finance Economy
UAE, Italy enhance bilateral relations to Strategic Partnership level
ABU DHABI, UAE - The United Arab Emirates and Italy on Saturday announced the enhancement of their bilateral relations to...A pact for cooperation on energy projects and sustainability initiatives between Abu Dhabi National Oil Company and the Italian energy group Eni was signed.
The MoU aims to strengthen cooperation in the field of emissions reduction, new energy technologies and low-carbon solutions.
ACWA Power logs 411m profit
The company's operating profit rose 13.5% to $696 million.The company’s fourth-quarter net profit after tax surged 94 percent to $175 million, compared to $90.40 million in Q4 2021
ACWA Power last month signed an agreement for a new giga-scale green hydrogen project to expand its Indonesian portfolio
Wall Street Journal’s report UAE considering leaving OPEC not true: sources
Dubai, UAE--A media report that the United Arab Emirates is considering leaving OPEC is "far from the truth," two sources...The WSJ reported that the UAE is having an internal debate about leaving the OPEC following differences with Saudi Arabia
Oil fell as much as $2 a barrel after the WSJ story, with analysts citing concerns that this might impact the OPEC+ production cut deal
‘Global luxury goods market surged 21% to $1.38trn in 2022’
It is estimated that 400 million people consume luxury products worldwide and that number will reach 500 million by 2030.It is estimated that 400 million people consume luxury products worldwide and that number will reach 500 million by 2030
A study recently released by IMARC Group has revealed that the UAE luxury market will reach $ 5.2 billion by 2027
Alpha Dhabi posts $2.88bn profit
The net profit exceeded the Group's target of AED10 billion.Revenues hit AED 40.0 billion, which represents an increase of 114 percent
The growth was driven primarily by strong contributions from the new acquisitions
Apple to produce iPhones in India
The proposed factory will be spread over 300 acres."Apple phones to be built in the state soon," Karnataka state chief minister Basavaraj S Bommai tweeted on Friday
"Apart from creating about 100,000 jobs, it will create a whole lot of opportunities for Karnataka," he added
VW 2022 net profit at $16.7bn
Firm booked profit despite supply chain disruptions.German automaker Volkswagen on Friday said it booked a higher profit in 2022 despite supply chain disruptions and increased costs.
The group expects vehicle deliveries to rise to around 9.5 million this year, from 8.3 million in 2022.
DEWA’s R&D Center registers 8th patent for geographical areas survey device
DUBAI, UAE - Dubai Electricity and Water Authority's (DEWA) Research and Development Center has obtained its eighth patent for a...The device employs real-time kinematic processing techniques to process data collected on-site.
It works with a smart device developed by the R&D Center, which uses a smart app to read the updated coordinates in seconds.
ADNOC Drilling to buy hybrid power land rigs for $252m
The purchase is part of the company’s “rigorous decarbonisation strategy,” the company noted.The purchase is part of the company’s “rigorous decarbonisation strategy,” the company noted
ADNOC Drilling owns one of the world’s largest drilling and well completion fleets
Lufthansa returns to profit
The airline reported $839m in profit in 2022.The group reported an adjusted operating profit of 1.5 billion euros, in line with expectations.
The company suffered a net loss of 2.2 billion euros in 2021 and 6.7 billion euros in 2020
