Goldman Sachs, Mubadala ink pact
The two firms have signed a $1 billion private credit deal.Company News Business Economy Global
Hyperloop progress: Racing ahead or falling behind?
Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023...Business
Turkey slashes borrowing rate to press quake recovery
Turkey was already battling runaway inflation and relying on wealthy allies to keep its economy afloat when the massive earthquake...A prominent business group has estimated there was some $84 bn in quake damage, but estimates from other experts are more conservative, putting the total closer to $10 bn.
When the quake hit, Turkey's official annual inflation rate had slowed to 58 percent from a two-decade high of 85 percent last year.
Renewables investments record high in 2022, but need massive increase
A report by the International Renewable Energy Agency (IRENA) and Climate Policy Initiative (CPI), said although global investment in renewable...The report emphasizes how lending to developing countries looking to deploy renewables must be r highlights the need for public financing to play a much stronger role.
Achieving an energy transition in line with the 1.5°C Scenario also requires the redirection of $0.7 trillion per year from fossil fuels to energy-transition related technologies.
Rolls-Royce sinks into net loss
Turnover however soared by more than a fifth to £13.5 bn.Rolls posted a net loss of almost £1.3 billion ($1.5 billion), after a profit after tax of £120 million the previous year.
Rolls added that it would announce the outcome of a strategic review in the second half.
UAE-Azerbaijan non-oil trade up 270% in five years: Thani Al Zeyoudi
Abu Dhabi, UAE-- The non-oil trade between the UAE and Azerbaijan has risen threefold during the past five years, said...He added that the trade between the two countries in 2022 was distributed between AED32.6 million in imports, AED351.9 million in exports, and AED3.5 billion in re-exports.
The main import commodities were gold, jewellery and their manufactures, plants, tobacco products, copper wires, copper products, shell fruits and others.
Americana net income up 27.1%
This was company's first financial result since dual listing.Americana Restaurants Board announced H2 2022 dividends at $103.5 million or the equivalent of $0.0123 per share.
The company achieved a revenue of $2.38 billion, a 15.9 percent year-on-year increase.
Paris protest against TotalEnergies East Africa oil pipeline
The pipeline project has run into strong opposition from rights and environmental campaigners who say the oil fields being developed...About 30 young campaigners demonstrated in front of the French offices of Japan's Sumitomo Mitsui Banking Corporation and Britain's Standard Chartered
They demanded the banks pull back from the East Africa Crude Oil Pipeline being jointly developed by TotalEnergies and the China National Offshore Oil Corporation
Dubai housing boom buoys buyers, burdens tenants
Dubai, renowned for its towering skyscrapers and ultra-luxury villas, saw record real estate transactions in 2022, largely due to the...Property prices in the prime locations of Dubai have jumped by 44 percent in 2022 compared with the year before, said real estate consultancy Knight Frank
Russians, fleeing the impact of sanctions after their country's invasion of Ukraine. were the biggest foreign buyers on Dubai's property market last year
EDGE to supply intelligence capabilities to the UAE armed forces in $1bn deal
Announced at the International Defence Exhibition and Conference (IDEX 2023), the contract will be executed over four years.Announced at the International Defence Exhibition and Conference (IDEX 2023), the contract will be executed over four years
Launched in November 2019, EDGE converges R&D, emerging technologies and commercial market innovations with military capabilities
Tourism, state spending spur real estate in KSA, UAE
Property markets benefit as an increased demand for tourists and the rise in government spending on infrastructure projects drive the...Property markets benefit as an increased demand for tourists and the rise in government spending on infrastructure projects drive the post-pandemic recovery in the region
Changing client preferences in the hospitality, housing, and retail sectors have forced developers to reinvent the hotels, dwellings, and entertainment components of their projects
UAE to invest in Speeder AUV of US-based Mayman Aerospace
The SDF is the investment arm of UAE’s Tawazun Council.Mayman Aerospace (JetPack Aviation Corp), the US-based manufacturer of the innovative dual-use Speeder Air Utility Vehicle (AUV).
Speeder is on display at the SDF stand at the Tawazun Council’s Chalet at the International Defense Exhibition and Conference, IDEX.
