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)...Business
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...Business
Fuel costs, falling pay add to UAE gig workers’ woes
Nothing changes for delivery workers of online food delivery aggregator platforms even as they resume work after protest against low...Even as social media was flooded with comments demanding better treatment and fair pay for the riders, nothing changed and they eventually went back to work
The gig economy is coming under pressure from governments around the world as they look to enact protective policies and regulations, says a food critic and blogger
US Central Bank needs to hike interest rates till inflation drops : Governor
The US central bank needs to keep raising interest rates in big steps until inflation starts to come down, Federal...The Fed early this month announced the biggest increase in the benchmark interest rate since 2000.
Markets could tighten by a total of 2.5 percentage points this year, including the 0.75 point of increases.
Qatar’s Export Unit Value Index surges by 61 percent in Q1
Qatar’s Export Unit Value Index (EXUVI) has increased by 61.05 percent in Q1 2022 compared to Q1 2021. The Planning...The Planning and Statistics Authority (PSA) released its Quarterly EXUVI for Q1 2022 as a new chain is added to statistical indicators calculated by PSA.
The addition is as per the policy of PSA in providing accurate statistical information and data that support the decision-maker.
Qatar government, banks behind its strong economic show: CEOs
The measures adopted by Qatar’s government and Qatar Central Bank proved decisive in countering the negative impacts of pandemic and...The CEOs focused on various issues like environmental and social practices, corporate governance.
Future prospects of Qatar's economy are stable, as its banking sector enjoys flexibility and quality with high capital and liquidity, said Qatar National Bank CEO.
ADGM invites public feedback on changes to commercial legislation
The Abu Dhabi Global Market (ADGM) has invited public feedback on the proposed amendments to its commercial legislation. As part...As part of ADGM’s ongoing enhancement of regulatory framework, its Registration Authority (RA) is proposing changes, including the introduction of a late filing fees framework.
Rather than attracting a penalty, certain late filings will attract a late filing fee of $150 per month, capped at three months.
Arts DAO NFT drop on June 5
The drop is being created in partnership with NFT artist Kristel Bechara.The community’s NFT collection will feature 2,000 NFTs and prices will start from 0.49 ETH ($1,000).
Arts DAO is registered with the Dubai Multi Commodities Centre (DMCC).
ADNOC acquires drilling units
The two premium jack-up units will be operational in Q3 2022.The units, being acquired from Well Target Five Limited and Well Target Six Limited, are Gusto MSC design, premium independent leg cantilever rigs.
Since listing on the Abu Dhabi Securities Exchange in October 2021, ADNOC Drilling has expanded its fleet from 96 to 104 owned rigs.
East Pipes lands $131m deal
The firm will supply pipes to Saline Water Corporation.The financial impact of the one-year deal will be seen in the company's fiscal year 2022-2023
Established in 2010, East Pipes specializes in the manufacturing of steel pipes and joined the Saudi stock exchange earlier this year
Egypt looks to double exports to $100bn: PM
Egypt has set its eyes upon doubling exports to $100 billion in the next few years, and building a 'strategic...Madbouly said the world is today witnessing governments and peoples suffering from inflation and high prices
He pointed out that integration and coordination with the UAE and Jordan will contribute to achieving an important part of self-sufficiency
Mercedes boss hints at changes to keep Monaco race alive
Mercedes team chief Toto Wolff on Sunday hinted at what may be needed for the under-threat Monaco Grand Prix to...Formula1 race promoters seek to extend the event’s contract with commercial rights holder Liberty Media
F1 is important for Monaco and Monaco is important for F1, but need positive approach, says Toto Wolff
