Shell halts Red Sea shipments over attack fears, say report
WASHINGTON, US - British oil giant Shell has paused transit through the key Red Sea shipping route indefinitely, over fears of...Business Energy Geostrategy Global
Hub71 startups secure $408m in investments since inception in 2019
Hub71, Abu Dhabi’s global tech ecosystem, said on Wednesday that its startup community secured AED 30 million ($8.1m) in 2021...Hub71 boasts startups from 25 nations across 18 diverse sectors, ranging from FinTech, Robotics, AI & Big Data to HealthTech, AgTech and Cybersecurity.
About 1,000 jobs were created, while the aggregate valuation of the startups soared to AED5.87 billion, the hub said in a report.
Dubai posts real estate transactions worth $413 million on Tuesday
Dubai’s real estate market recorded 474 sales transactions worth AED1.52 billion ($413 million) and mortgage deals of AED441.56 million, in...Mortgage deals amounted to AED441.56 million and 11 gift transactions to AED27.4 million, according to Dubai Land Department.
During the week ending 18 March, the emirate recorded $2.53 billion worth of real estate and properties transactions.
Saudi land bridge linking up east with west to cost $26bn
A land bridge linking up the western part of Saudi Arabia with its eastern region will cost some $26 billion...According to the minister of transport and logistics, Saleh Al-Jasser, the money will go into building infrastructure and trains
The contracts will be signed within a year, and the implementation of the project will take 5 to 7 years, Al-Jasser said
The scientists helping farmers kick the chemical habit
Researchers are considering a mutual fund to compensate farmers in the event of losses linked to the reduction of synthetic...Researchers are considering a mutual fund to compensate farmers in the event of losses linked to the reduction of synthetic fertilizers and pesticides
According to World Vegetable Center, farmers in Vietnam, Laos and Cambodia have been misusing harmful pesticides
Shuaa Capital of Dubai sets up $250m venture debt fund
Shuaa Capital, the Dubai-based fund manager, has set up a $250 million venture debt fund in order to shore up...According to the company, the Shariah fund, to be listed in Abu Dhabi’s market, will focus on technology ventures “seeking alternative sources of capital”
Early-stage businesses are dominating investments with VC funding to the Middle East and North Africa startups soaring to $2.6 billion in 2021
UAE accounts for 77% of GCC investments in Latin America over 2016-2021
Saudi Arabia accounted for 22 percent of GCC investments to Latin America during 2016-2021, followed by Qatar with 1 percent.Saudi Arabia accounted for 22 percent of GCC investments to Latin America during 2016-2021, followed by Qatar with 1 percent
The report, titled Cultivating Ties: Deepening trade and investment between Latin America and the GCC, was issued ahead of the Global Business Forum Latin America 2022
Pandemic aided digital adoption by UAE businesses: PayPal survey
Survey analyses the impact of COVID-19 on small businesses, the key verticals of growth and the growing acceptance of digital...Survey analyses the impact of COVID-19 on small businesses, the key verticals of growth and the growing acceptance of digital payments
With adoption of digitalization, 41 percent of the respondents have seen increased purchases through social media channels
Sustainability key challenge for UAE realty players
It is hard to balance sustainable developments and what people want in the market, especially when it comes to pricing,...Designing a building, putting up construction plans in terms of materials until the demolition are responsibilities of a sustainable property developer
The real estate market in Dubai had a 65 percent increase in the number of transactions and a 71 percent increase in value in 2021.
alfanar invests $1.3bn in UK
The money will go in producing aviation fuel from waste.The Lighthouse Green Fuel project generates more than 180 million liters of sustainable aviation fuel annually in the UK
This amount of sustainable aviation fuel is sufficient to power 15,000 flights per year, reducing harmful carbon emissions from conventional fuels by over 700,000 tons annually
Dubai SMEs bag contracts worth $250m under procurement program
Emirati entrepreneurs and national enterprises in Dubai won contracts worth AED 921.6 million ($250 million) from various local and federal...Since 2002, GPP has facilitated contracts worth over AED 8.4 billion for Dubai SME members from 69 supporting entities across the government, semi-government and private sectors.
Expo 2020 Dubai topped the list of local government support agencies of GPP last year with contracts worth AED 161.7 million.
