Toyota expects to book profit of US$30bn
Its third-quarter net profit jumped to US$7 billion.Business
Jeddah Central Development Company signs 4 contracts worth $3bn
Jeddah, Saudi Arabia - The Jeddah Central Development Company, a company owned by the Public Investment Fund (PIF), signed four...Business
ADNEC adopts new corporate identity to support economic diversification
A global hub for major events, ADNEC centre has infrastructure, flexible teams and facilities to provide key services through a...A global hub for major events, ADNEC centre has infrastructure, flexible teams and facilities to provide key services through a number of companies
ADNEC Group encompasses a number of specialised companies that synergistically operate in six main business sectors
Abu Dhabi-based firm GAAC to handle air traffic in Afghanistan
Kabul, Afghanistan - A United Arab Emirates firm signed a contract with Afghanistan on Thursday to manage air traffic across...The contract is part of more than $300 million that Abu Dhabi based GAAC aims to invest in Afghanistan over a 10-year period to develop its aviation sector.
The deal allows GAAC to "operationalize airspace to allow the passage of international carriers", the company's regional head Ibrahim Moarafi said.
ADCB green bond raises $500m
The debut bond that will be issued on 14 Sept was oversubscribed 3.8 times.The bond was 3.8 times oversubscribed after attracting local, regional, and international investors that placed total orders of over $1.9 billion.
The bank said it has embedded ESG into its corporate strategy and has aligned its sustainability approach to the UAE’s ambitions for an inclusive, net-zero economy.
Real estate transactions worth US$544m at Sharjah in August
Real estate transactions in the Emirate of Sharjah totaled US$544 million (AED 2 billion) in August 2022, according to the...The total number of transactions according to SRERD records, during the past month amounted to 2,409.
Mortgage transactions amounted to 303, which is 12.6 percent of the total transactions, with a value exceeding $193 million.
DEWA programs prepare Emiratis to join the organization
Dubai Electricity and Water Authority is committed to promoting Emiratization in its various divisions by adopting an integrated strategy to...The MD & CEO of DEWA said that the percentage of Emiratization at DEWA has reached 88.14 percent in senior management.
DEWA has launched several pioneering projects and programs for the employment of Emiratis.
Louvre Abu Dhabi, NYUAD sign collaboration agreement in key areas
Abu Dhabi, UAE -- Louvre Abu Dhabi and New York University Abu Dhabi (NYUAD) signed an MoU to collaborate in areas...The MoU involves exchanges among faculty, staff, and students through programmes, events, and research projects and mutual access to institutional facilities.
The two institutions have collaborated on Reframing Museums, a live, virtual symposium on the challenges and responsibilities facing museums in the light of Covid pandemic.
UAE stocks post gain of US$2.72bn in market cap
The UAE financial markets on Wednesday posted gains of over US$2.72 billion (AED10.billion) in market cap driven by upbeat sentiments...The UAE financial markets on Wednesday posted gains of over US$2.72 billion (AED10.billion) in market cap driven by upbeat sentiments.
Abu Dhabi index (FTFADGI) rose 0.566 percent to 9,717.38 points while Dubai General Index (DFMGI) slid 0.406 percent to 3,382.31 points.
Riyad Bank to offer sukuk
The bank offering will be denominated in Saudi riyals.Investors, according to the bank, shall subscribe to a minimum of $66,533, with a return rate yet to be determined
Riyad Capital will act as the sole lead manager and book runner for the potential Tier 1 capital sukuk offer
Energy majors exaggerating green performance: analysis
Campaigners say this "significant misalignment" between communication strategies and business plans could allow five of the biggest privately-owned energy firms...Public communications of five energy majors were found to contrast with their planned capital expenditure for 2022
The analysis found that Shell had the largest disparity between its green talk and actual low-carbon investment
UAE to deepen collaboration with India in education sector
The UAE has agreed to deepen collaboration with India in the field of education, and in this regard the two...An original MoU was signed in 2015 between India and the UAE in the field of education, but it expired in 2018
It is expected to rejuvenate educational cooperation and increase academic mobility between India and UAE, besides facilitating exchange of information
