Multiply Group acquires Backlite Media
The buyout is part of its plan to boost media business.Business
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
Qatar tests US$675m stadium with first sellout crowd
Almost two months before the start of World Cup, Qatar put the $675 million stadium, the venue for the final,...The stadium, shaped like a traditional Arabic bowl, is at the heart of a new city being built north of the tiny Gulf state's capital
FIFA president Gianni Infantino has said it will be the "best-ever" World Cup and that foreign fans will have an experience like a "child going to Disneyland for the first time"
Qatar World Cup to kick up region’s economic growth
The FIFA World Cup, which is likely to boost tourism across GCC, is all set to increase revenues for Gulf...The FIFA World Cup, which is likely to boost tourism across GCC, is all set to increase revenues for Gulf airlines, hotel and restaurant industries and domestic transportation
Beside Saudi Arabia, Dubai would benefit the most from the expected tourism boom in the Middle East during the World Cup, suggest latest reports
Stocks and oil prices rally, as dollar drops
Stock markets and oil prices rallied Friday, with investors largely pricing in more interest rate hikes aimed at taming runaway...The more confident mood across equity and oil markets was reflected in a cooler dollar.
The greenback's softness came after Federal Reserve chief reasserted the US central bank's determination to keep hiking interest rates to fight prices
ADNOC to supply natural gas to Dubai for clean energy transition
ADNOC says domestically produced natural gas is more commercially competitive compared to imported coal or gas and it will support...The natural gas will be used to generate electricity at Dubai Electricity and Water Authority (DEWA)’s Independent Power Producer Hassyan Power Complex.
The Complex was initially built to operate full-time at full load on both natural gas or clean coal but has been transformed to run only on natural gas.
Ajman Chamber, Russian delegation discuss trade ties
The Chairman of the Ajman Chamber of Commerce and Industry (ACCI) recently received an economic delegation from the Russian Federation...ACCI Chairman highlighted investment opportunities in the real estate, building and construction sectors to the Russian delegation.
The Chairman stressed Ajman Chamber's keenness to develop economic ties and attract investors to the emirate.
Qatar Central Bank’s foreign currency reserves rise to $59bn in August
Official reserves consist of four main components: foreign bonds and treasury bills, cash balances with foreign banks, gold holdings, special...Official reserves consist of four main components: foreign bonds and treasury bills, cash balances with foreign banks, gold holdings and special drawing rights deposits.
In addition to the official reserves, other liquid assets are in foreign currency deposits and the two together constitute what is known as "total international reserves".
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.
