QFC signs two MoUs
MoUs with BFB, Partior were inked during Web Summit 2024.Company News Business Banking & Finance
UK government revokes gas fracking ban in England
Britain lifted England's moratorium on controversial gas fracking to boost energy security, despite breaking the ruling Conservative party's manifesto pledge.Fracking is carried out by blasting a mixture of water, sand and chemicals underground to release shale oil and gas.
But environmentalists argue that the process contaminates water supplies, hurts wildlife, causes earthquakes and contributes to global climate change.
Saudi-UAE non-oil trade increased by 92.5 percent in past decade
The value of non-oil exports from the UAE to Saudi Arabia over the past ten years was around AED205.5 billion,...By end of 2012, the value of non oil trade between the two countries was AED 64.8 billion ($17.65bn)
The trade exchange between the two countries in the first half of 2022 totaled AED65.7 billion ($17.9bn)
Dana Gas to pay $85m H1 dividend
The dividend of 4.5 fils per share will be paid by 21 Oct.The company posted a net profit of $111 million in the first six months of the year, an 82 percent increase compared to an adjusted net profit in H1 2021.
The company’s profitability in the first half of 2022 was driven by elevated hydrocarbon prices,
Xiamen Airlines to buy aircraft
The airline plans to buy 40 A320neo aircraft from Airbus.The airline, based in the southeastern city of Xiamen has until now had exclusively Boeing aircraft in its fleet.
While weakened by the pandemic, airlines around the world are preparing for an expected doubling of air travel in the next two decades.
Dubai records realty transactions worth $299 million Thursday
Dubai, UAE-- Dubai real estate market recorded realty transactions worth AED1.1 billion ($299 million) on Thursday, Dubai Land Department said....The deals included 371 sales transactions worth AED825.36 million, in addition to 81 mortgage deals of AED231.57 million, and 18 gift deals amounting to AED48.1 million.
The sales included 334 villas and apartments worth AED626.55 million, and 37 land plots worth AED198.81 million.
‘Hungary wants EU sanctions on Russia lifted by year end’
Hungarian Prime Minister Viktor Orban wants EU sanctions on Russia over its invasion of Ukraine lifted by year end, a...Hungary is highly dependent on Russian oil and gas and Budapest has already secured an exemption from sanctions on Russian crude oil imports via pipelines.
EU foreign ministers held an emergency meeting to discuss after Moscow mobilized reservists for its war in Ukraine.
Value of building permits issued by Sharjah Municipality hits $2.54 bn
Sharjah, UAE--The contractual value of building permits issued by Sharjah Municipality grew to AED9.344 billion ($2.54 billion) in H1, while...The value of building permits for which certificates of completion were issued reached AED3.263 billion.
Building Permits Department has completed 1,824 applications for accrediting engineering plans, and issued 1,265 building permits.
UAE, Jordan ink pact to standardize specifications
The UAE Ministry of Industry and Advanced Technology (MoIAT) signed a Memorandum of Understanding (MoU) with the Jordan Standards and...The agreement aims to facilitate industrial, trade and economic growth in both the UAE and Jordan.
The pact encourages cooperation in conformity assessment procedures for non-food and non-pharmaceutical industrial products.
Saudi Education Minister meets founder of edX platform in US
Saudi Arabia's Minister of Education Dr. Hamad bin Mohammed Al AlSheikh has met with the leaders of edX platform at...The minister met the platform's founder to discuss ways to promote cooperation in the online education and e-training industry,
The two discussed ways to develop a partnership between the National Center for E-Learning FutureX and the edX platform.
UN succeeds in raising US$75m to salvage oil tanker off Yemen
The decaying 45-year-old FSO Safer, long used as a floating storage platform and now abandoned off the rebel-held Yemeni port...UN officials last month warned that the ship was a ticking environmental time bomb requiring immediate action
It warned a spill could destroy ecosystems, shut down the fishing industry and close the lifeline Hodeida port for six months
