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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.
  • ‘Effective steps needed to tackle situation due to Ukraine crisis’

    Jordan's Minister of Foreign Affairs and Expatriates has called for concrete and effective steps to address the effects of the...

    Jordan's foreign minister calls for concrete steps to deal with the effects of Ukraine crisis on food security, energy prices and supply chains

    The minister reviews the Kingdom's relations with NATO and Jordan's role in the 'Mediterranean Dialogue' group since 1995

  • DP World, NIIF expand ties

    NIIF Master Fund will invest $300m in DP World subsidiary HPPL.

    With this transaction, which is also the Master Fund’s single largest investment, NIIF’s investment under this partnership will reach around $500 million.

    HPPL is one of India’s leading container terminal platforms with a proven track record of growth over the long-term.

  • Drydocks World, KANFA AS sign contract

    This is the first collaboration between Drydocks World and KANFA AS.

    Under the contract, the M10 module will be placed on the main deck of a floating production, storage and offloading (FPSO) vessel.

    It will be used to process crude oil received from oil wells, which will be dewatered and stabilized to meet export quality specifications.

  • OPEC meeting expected to stick to oil output boost

    Major oil producers led by Saudi Arabia and Russia are expected to stick to a previously decided output boost at...

    The 13 members of the Organization of the Petroleum Exporting Countries, chaired by Saudi Arabia, and their 10 partners, led by Russia, drastically slashed output in 2020

    But several OPEC+ members have been failing to meet the output quotas, while Iran and Venezuela -- and now also Russia -- are blocked by sanctions

  • Recession fears drag down European, Asian stocks

    Asian and European stock markets nursed losses Wednesday on resurgent fears that sharp interest rate hikes aimed at tackling runaway...

    Bourses in Paris, Frankfurt, Tokyo, and Hong Kong all lost around one percent or more, taking their cues from Tuesday's rout on Wall Street

    Updated first quarter US GDP data released Wednesday chopped the personal consumption growth figure to 1.8 percent, from 3.1 percent

  • New law to allow UAE companies to act as commercial agents

    The new draft law is geared to provide more business opportunities for UAE citizens and allow new categories of citizens...

    The new draft law is geared to provide more business opportunities for UAE citizens and allow new categories of citizens to access the commercial agencies business

    The UAE has also enacted a new draft law on the cooperatives that allows for the establishment of various forms of cooperatives in the country

  • Arabian Plastic to list on Nomu

    The company has won approval for an IPO of 1m shares.

    Shares to be listed represent 20 percent of the company’s share capital

    The Capital Market Authority’s approval shall be valid for six months from the authority’s board resolution date

  • Metaverse can contribute $4bn to UAE economy

    The Dubai Metaverse Strategy anticipates that 42,000 jobs will be virtualized through the metaverse by 2030 while also improving resident...

    The Dubai Metaverse Strategy, which was recently announced, aims to raise the metaverse sector's contribution to the UAE's economy to $4b by 2030

    Dubai companies like Emirates, Damac and others are already betting big on this world, and many more are expected to join the pack

  • 6G, WiFi 6, edge computing key for metaverse

    To expand and upgrade the metaverse, 6G, Wi-Fi 6, and edge computing capabilities will be critical. Just as the internet...

    Metaverse participation is growing in the Middle East and GCC countries, says Martin Tarr, Chief ICT Officer of du

    Demand for a blockchain-powered metaverse has increased and industries are already benefitting from the technology, he adds

  • Global Village gives wings to entrepreneurs, innovators

    Dubai's multicultural family shopping and entertainment hub provides a unique platform to SMEs to test creative and innovative business concepts,...

    Global Village assists entrepreneurs in exploring new prospects and forming collaborations, says Naveen Jain, Director of Business Development at the park

    Dubai's multicultural family shopping and entertainment hub provides a unique platform to SMEs to test creative and innovative business concepts, he adds