Europe gives accent to instant payments across the union
Brussels, Belgium - Bank customers will soon be able to transfer money across Europe within seconds after the EU adopted a...Business
WTO pushes for reform, warns multilateralism ‘under attack’
Speaking on the first day of MC13, WTO Director-General Ngozi Okonjo-Iweala highlighted a need to "reform the multilateral trading system"...Business
Green energy meets 80 percent of Abu Dhabi demand: EWEC
Abu Dhabi, UAE--- Emirates Water and Electricity Company (EWEC) has, for the first time, met 80 percent of total power...EWEC supplied approximately 6.2 gigawatts (GW) of the total 7.7GW system power demand.
By 2030, EWEC aims to raise Abu Dhabi’s solar power generation to approximately 7GW and produce more than 90 percent of its water using reverse osmosis.
Qatar’s industrial investments in 2022 vault to US$81 billion
Doha, Qatar-- The the SMEs sector grew by 2.6 per cent, as the number of operating factories in the state...Sheikh Khalifa also affirmed the Chamber's interest to enhance the national industry and help investors in this sector to promote their products
Chairman of Qatar Chamber Sheikh Khalifa bin Jassim Al-Thani inaugurated the Engineering Factory for Carpets in its new headquarters in the New Industrial Area
Musk eyes torrid growth at Tesla, but offers no big new reveals
After years of losses, Tesla has hit its stride in terms of financial performance, scoring an impressive string of earnings...Reviewing the company's quickly expanding EV production, Musk and a team of executives promised more outsized growth through streamlined manufacturing processes
But shares fell throughout the event as Musk and his team avoided specifics on what the next generation of vehicles would look like, or when they might be ready
Emiratization: ACTVET, Al Fardan Exchange to hire 1,000 Emiratis in financial sector
The MoU also aims to educate and train 5,000 citizens at the Al Fardan Exchange Training Institute, which was recently...The MoU also aims to educate and train 5,000 citizens at the Al Fardan Exchange Training Institute, which was recently established at ACTVET’s Innovation Park in Abu Dhabi
The companies will collaboratively oversee the implementation of the MoU and support the education and training of 5,000 UAE nationals through specialised training programmes
Aramco, Renault, Geely ink deal
The new firm will focus on internal combustion.Geely and Renault are expected to retain equal equity stakes in the new independent entity, according to a statement
Earlier, reports said that the car makers were working to finalize a deal with Aramco to develop and supply gasoline engines
Users feel more people should adopt ChatGPT, TRENDS poll finds
Nearly 25 percent of respondents believe educational institutions should avoid the use of AI platforms, and many feel creative writers...The top respondents for the poll question were from Bahrain (25.6 percent), followed by Qatar (25 percent), Lebanon (24.1 percent), and UAE (22.7 percent)
Respondents were mainly from the age 20 to 29 years old (46.4 percent), followed by the age range 30 to 39 years (38.6 percent), and 40 to 49 years (10.3 percent)
Chip industry transformations enable Qatar, other GCC countries to diversify their economies, say experts
The Gulf countries are also able to attract highly qualified and scientific expertise and skilled workers, and they possess the...There is an opportunity for emerging economies, especially the Gulf countries, including Qatar, to move towards the electronic chip and semiconductor industry
The region has the financial capacity to handle the electronic chip and semiconductor industry that requires investments worth tens of billions of dollars
EU strikes deal to create world’s first ‘green’ bond standard for investors
Investors' appetite for "green debt", used to finance renewable energy projects, low-carbon transport or well-insulated housing, is growing exponentially. But...The parliament said this green bond standard will "enable investors to orient their investments more confidently towards more sustainable technologies and businesses".
The European bond market's annual trades are estimated to be worth 100 trillion euros ($107 trillion).
UAE records fastest growth rate in 10 years, says economy minister
Abu Dhabi, UAE - UAE's Minister of Economy Abdullah bin Touq Al Marri said Wednesday that in 2022, the UAE...The country is implementing comprehensive economic initiatives to increase the capacity of the national business environment to attract capital.
The UAE has utilized advanced technologies to develop capacities and meet the growing demand in these sectors.
ACWA signs $8.5 bn financing agreements with NEOM green project
Dubai, UAE--Saudi Arabian utility developer ACWA Power said Wednesday it has signed financing agreements for a total investment of $8.5...NEOM Green Hydrogen Project is a joint venture between ACWA Power, Air Products and NEOM Company, with ACWA Power holding a 33.3 percent equity stake.
The total financing consists of $5.85 billion senior debt and $475 million of mezzanine debt facilities.
