Mac computers could reach new glory due to AI
SAN FRANCISCO, US - Forty years after igniting a PC revolution, Apple's Mac is stronger than ever and could reach new...Business Global Tech & Media
Alhokair Group wins $202m contract
Alpha Facilities Contracting Company has awarded the contract.Company News Business
UAE Central Bank, Bank of Korea renew bilateral currency swap pact
The agreement will allow the exchange of local currencies between the two central banks of up to AED20 billion and...The agreement will allow the exchange of local currencies between the two central banks of up to AED20 billion and up to KRW6.1 trillion for five years
"The agreement with the Bank of Korea contributes significantly to the development of financial markets in both countries,” Mohamed Balama said
Sustainability drives region’s luxury car demand
UAE, Saudi Arabia and Kuwait are the three top performing GCC markets when it comes to appetite for high-end cars,...Car industry in the region is stepping up technological advancement and accelerating the transition to sustainable mobility
The popularity of electric automobiles increased during the COVID-19 due to government, bank, and car dealer incentives
DMCC registers record 665 companies to its Free Zone in Dubai during Q1
Dubai Multi Commodities Centre, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, welcomed...This represents DMCC’s best first quarter since its inception over twenty years ago, a 13 percent year-on-year increase.
In the first quarter of 2022 alone, 16 percent of all company registrations were for crypto-related activities.
Czech Republic delegation explores business opportunities in Bahrain
A business delegation of Czech Republic visited Bahrain to explore investment opportunities and expansion of economic projects between the two...The delegation expressed keenness on cooperating with the Bahraini private sector for investment in various sectors.
A minister said Bahrain welcomes all international investments and projects with added value to investment and investors.
Oman becomes first GCC nation to ratify a treaty on rights of seafarers
Oman has become the 100th country to ratify a 2006 treaty that protects the rights, pay and conditions of seafarers. The...Maritime Labor Convention has become a worldwide reference for the maritime industry and a pillar of international maritime rules and regulations since its signing in 2006.
Guy Ryder, the ILO Director-General, said Oman, a longstanding maritime nation, has set an example for other countries in the region.
As EU eyes stopping Russian gas imports, Israel sees an opening
As Europe aims to wean itself off Russian fossil fuel because of the Ukraine invasion, Israel hopes to help fill...EU states remain divided on the time scale, but European Commission President Ursula von der Leyen has said the bloc hopes to phase out its dependency on Russian gas, oil and coal.
Israel could build one or more pipelines, potentially via Greece or Turkey, or increase the quantity of gas piped to Egypt to be liquified and shipped off, say experts.
Two firms set up UAE’s first Special Purpose Acquisition Company
ADQ, an Abu Dhabi-based investment and holding company, and Chimera Investments, an Abu Dhabi-based private investment firm, announced they have...The ADC Acquisition Corporation ADQ has been formed by ADQ and Chimera Investments, an Abu Dhabi-based private investment firm.
ADC plans to raise AED367 million through an Initial Public Offering (IPO) of 36.7 million shares at an offer price of AED10 per share.
ADNOC to build two LNG vessels
The two 175,000 cubic meter LNG vessels will join the company's fleet in 2025.The new-build LNG vessels are significantly larger than the current ADNOC L&S fleet of LNG vessels, which have a capacity of 137,000 cubic meters.
Over the past 24 months, ADNOC L&S acquired 16 deep-sea vessels, including eight Very Large Crude Carriers in 2021.
DEWA IPO biggest since Aramco
DEWA shares soared 19% in the first minutes of trading on Tuesday.DEWA last week said it had raised AED22.3 billion ($6.1 billion) in the region's largest IPO since Saudi Aramco
Some 9 billion shares, an 18 percent stake, were listed, with the initial price set at AED2.48 ($0.68)
Honda plans $40bn EV investment
The automaker is switching all sales away from traditional fuel cars.Global auto giants are increasingly prioritizing the production of electric and hybrid vehicles
After all, demand is growing for less polluting models as concern about climate change grows
