Oman Investment Authority launches fund worth US$5.19 billion
Muscat, Oman--The Oman Investment Authority (OIA) has unveiled a new fund called “Future Fund Oman” valued at US$5.19 billion.The fund...Business
Sharjah Chamber discusses collaboration with AAAID on trade, investment
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) has held discussions with the Arab Authority for Agricultural Investment and...Business
UAE stock markets gain almost $6bn in first week of Ramadan
The two bourses have been adhering to the Monday-to-Friday workweek — the norm across most of the world — since...The ADX broke the 10,000-point barrier for the first time amidst increased demand for IHC's Apex National Investment
The DFM advanced 0.74 percent to 3,541.6 points following 5,251 transactions worth AED520.5 million ($141.73 million)
Vaccine factory to come up in Khazaen City with $52m outlay
The first phase of the project is expected to be set up on a total area of 37,000 square meters.The agreement was signed by Khazaen CEO Salim Al Thuhli and Opal’s Chairman of the Board of Directors, Sa’ad Moosa Al Junaibi
Al Thuhli was quoted by the official sources as saying that the project would be the first vaccine factory in Khazaen Economic City
North Sea oil project wins Israeli takeover boost
A North Sea oilfield project off Scotland's coast opposed by environmentalists and paused after energy giant Shell decided to exit...Ithaca Energy, owned by Tel Aviv-listed Delek Group, announced late Thursday a deal to buy Siccar Point Energy for an initial $1.1 billion
The new owner added that Cambo and Rosebank "represent an opportunity for Ithaca to develop fields that will contribute significantly to the UK's energy security."
Rising prices threaten Petrobras
It is caught in a political tug of war, with the president on one side.Jair Bolsonaro, the right-wing President of Brazil, is widely blamed by the public for the country's double-digit inflation and high fuel prices
Even as Brazil's economy recovers from the pandemic, fuel prices rose 33 percent and the war in Ukraine made the situation worse
Cryptocurrency miners in Texas going solar
The crypto-creation center would be located in west Texas and equipped with Tesla solar panels and batteries.Block and Blockstream are said to have invested $6 million to produce 0.1 bitcoin per day
The project would be located in west Texas, aiming to make cryptocurrencies less expensive and more eco-friendly
Twitter employees to meet Musk
They are concerned about his influence on the company board.The social media company named Tesla Chief Executive Elon Musk to the board on Tuesday
It came after he acquired a more-than-9-percent stake in the company, making him Twitter's largest shareholder
Tech savvy UAE becomes Arab world’s digital hot spot
The UAE has earned a unique distinction of becoming the only Arab country to be propelled into the premier club...UAE is considered one of the world's most attractive countries for digital talent, while Dubai and Abu Dhabi are both listed in the top 10 cities for digital talent
The UAE has been named the second most attractive place to relocate to work in the digital sector in a latest survey by Boston Consulting Group
Audi, Porsche eye entry into F1
The firms aim to burnish their green technologies and ambitions.Audi will only join the championship on "condition" that the regulations from 2026 "provide for extensive changes for a more sustainable sport".
The firms have said a final decision in this regard is yet to be made.
Weekly real estate transactions worth $1.44 bn recorded in Dubai
A total 2,012 real estate transactions worth 5.3 billion ($1.44 billion) were conducted in Dubai during the week ending April...A total of 236 plots were sold for AED 1.07 billion, while 1,415 apartments and villas were sold for AED 2.96 billion.
A total of 53 properties were granted between first-degree relatives worth AED 269 million.
Saudi Arabia to penalize owners for not fencing their ‘vacant land’
The Ministry of Municipal, Rural Affairs and Housing of Saudi Arabia has asked owners of vacant plots of land to...The ministry intends to beautify the urban landscape, protect property from encroachments, reduce visual distortions, encourage citizens to become environmentally friendly
The ministry said that Riyadh, Dammam, Makkah, Al-Madinah and Jeddah are the target cities in the first phase where the decision will take effect
