• Innovations, investment spur UAE lab equipment surge

    Driven by a growing population, the prevalence of chronic diseases, and significant government investments, the UAE's laboratory equipment market is...

    Driven by a growing population, the prevalence of chronic diseases, and significant government investments, the UAE's laboratory equipment market is set to hit $1.5b by 2027.

    Technological innovations in diagnostics play a key role in this dynamic landscape, setting the UAE's healthcare sector on a path of transformative growth, say a latest report.

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    UAE MoD ink deals worth $517m in first two days of UMEX and SimTEX 2024

    ABU DHABI, UAE - On the second day of the sixth edition of UMEX and SimTEX 2024, the accumulated value...

    The second day of the event witnessed announcement of five deals signed by the Tawazun Council.

    The total number of local contracts on the second day of UMEX and SimTEX 2024 reached five contracts.

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    Hub71-backed ABHI to set up global headquarters in Abu Dhabi

    DUBAI, UAE - With support from the Abu Dhabi Investment Office (ADIO), Hub71-backed ABHI, an embedded finance platform founded in...

    ABHI is working with Abu Dhabi Investment Office as it scales up its operations to capture growth opportunities in emerging markets.

    ADIO provides a range of support to the FinTech company, including incentives and connections to the Abu Dhabi ecosystem.

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    Milrem and UAE sign world’s biggest defense robotics order

    Abu Dhabi, UAE - EDGE Group entity Milrem Robotics signs a contract to supply 20 tracked robotic combat vehicles (RCVs)...

    Milrem will supply 20 tracked robotic combat vehicles (RCVs) and 40 THeMIS unmanned ground vehicles (UGVs) to UAE Ministry of Defense.

    Milrem Robotics will also provide comprehensive training and supervision to ensure the relevant personnel.

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    Dubai wins right to host 349 business event in 2023

    DUBAI, UAE - Dubai consolidated its status as a central hub for international business events in 2023, with the city...

    Driven by Dubai Business Events, the wins reflected a robust 49 percent increase in successful bids compared to 2022.

    DBE brought a citywide offering to the global market that resonated with the core needs of the business events industry.

  • ADNOC Drilling begins use of hybrid rigs

    The rigs use high-capacity battery to reduce emissions.

    In 2023, the company acquired 16 such rigs for a combined $327 million investment.

    The remaining 14 newbuild rigs are expected to join ADNOC Drilling’s operational fleet progressively throughout the year.

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    Saudi Arabia’s real estate deals fall 11 percent in 2023: Ministry

    Riyadh, Saudi Arabia -- The value of Saudi Arabia's real estate transactions fell year-on-year by 11 percent to nearly SAR...

    The number of real estate transactions reached around 172,070 by the end of 2023, while the total number of sold property reached 177,500.

    Meanwhile, transactions value increased in the remaining five months, led by July at 65 percent.

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    ASML profit soars to US$8.5bn

    It has shrugged off geopolitical tensions to post high profits.

    Its CEO Peter Wennink said in a statement that the semiconductor industry continues to work through the bottom of the cycle

    It is one of the top manufacturers of equipment to make state-of-the-art semiconductor chips, which power mobile phones and cars

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    Global halal market set to hit $7.7 trillion by 2025

    Makkah, Saudi Arabia — Global halal market is projected to reach an estimated $7.7 trillion by 2025. Leading the expansion...

    In education and health sectors, recent economic reports foresee the halal economy market doubling from $2.30 trillion in 2020 to $4.96 trillion in 2030

    The Public Investment Fund in Saudi Arabia, a frontrunner in the global halal industry, took the initiative in 2022 to establish a company specializing in the development of halal

  • Gulf Warehousing Company profit down

    Its net profit fell 10.24% to US$59.07 million in 2023.

    Its earnings per share (EPS) decreased to QR 0.37 in 2023 compared to EPS of QR 0.41 in the previous year, the company said

    Its board of directors ratified the distribution of dividends of QR 0.11 at a rate of 11 percent per share for the year 2023