Dubai posts real estate transactions worth $3.5bn in week ending January 19
DUBAI, UAE - The real estate and properties transactions valued at US$3.5 billion (AED13 billion) in total during the week...Business
In Davos, AI excitement persists but fears over managing risks
A recent IMF report said AI would affect nearly 40 percent of jobs around the world, and some 60 percent...Business Economy Geostrategy Global Tech & Media
EU negotiators agree landmark law to curb Big Tech
The "Digital Markets Act" (DMA) has sped through the bloc's legislative procedures and is designed to protect consumers.The "Digital Markets Act" (DMA) has sped through the bloc's legislative procedures and is designed to protect consumers
"The gatekeepers -- they now have to take responsibility," said the EU's competition supremo Margrethe Vestager
Banks break pledges with fossil fuel billions: Report
The analysis by London-based think tank InfluenceMap found the world's 30 biggest listed finance groups provided $740 billion to fossil...The analysis by London-based think tank InfluenceMap found the world's 30 biggest listed finance groups provided $740 billion to fossil fuel producers in 2020 and 2021
The biggest providers of fossil fuel financing were JP Morgan with $81 billion, Citigroup with $69 billion, and Bank of America with $55 billion
ADH invests $100m in DEWA
Abu Dhabi-based Alpha Dhabi Holding is a subsidiary of the IHC.ADH made the investment through its subsidiary Alpha Dhabi Partners Holding LLC, as a cornerstone investor
As part of the transaction, Alpha Dhabi Partners Holding LLC will acquire shares through DEWA’s IPO
Al Abjan to raise production
The firm plans to produce 30m hatching eggs by 2023 from 11m in 2021.The firm said after raising its production, it will meet more than 28 percent of the UAE’s requirement of 105 million eggs annually.
Al Ajban anticipates 13 percent return on investment, in consideration of expansion plans that include a new chicken rearing farm.
DEWA prices shares AED2.25-2.48 in Dubai’s biggest IPO since 2017
The IPO size implies a market capitalization at listing of between $30.63 billion and $33.76 billion, which would make DEWA,...The IPO subscription started on Thursday and will run until April 2 for the UAE retail investors and until April 5 for the institutional investors.
DEWA is the majority owner of Empower, the world's largest district cooling services operator by connected capacity.
Unit 2 of Barakh Nuclear Energy Plant starts operations
The Emirates Nuclear Energy Corporation (ENEC) announced today the start of commercial operations of Unit 2 at the Barakah Nuclear...Unit 2 adds 1,400 megawatts of zero-carbon emission electricity to the national grid, bringing the total produced by Units 1 and 2 to 2,800 megawatt.
This new addition takes ENEC and its subsidiaries to the halfway mark of delivering on its commitment to supply a quarter of the country's electricity needs.
KSA mining sector grew 27% to $194 million in 2021
Saudi Vice Minister of Industry and Mineral Resources Eng. Khalid Saleh Al-Mudaifer estimated the total value of mineral wealth in...Saudi Vice Minister of Industry and Mineral Resources Eng. Khalid Saleh Al-Mudaifer estimated the total value of mineral wealth in Saudi Arabia at around $1.3 trillion
He stressed that competition among countries is increasing to assume leading positions in the global mining markets
Jordan, India discuss cooperation in fertilizer industry
The Jordanian Minister of Investment, Khairy Amr voiced Jordan's readiness to provide facilities for Indian investment in Jordan and invited...The Jordanian Minister of Investment, Khairy Amr voiced Jordan's readiness to provide facilities for Indian investment in Jordan and invited Indian experts to his country
Indian minister reaffirmed the Indian government's keenness to prioritize Jordan in importing phosphates and fertilizers
Ukraine war hits VW ops
A 150-strong task force is working feverishly to keep supply flowing.Volkswagen plans to use the lessons learned from Ukraine crisis as the war in country affects its production capacities
Leoni restarted production in Ukraine on March 2 'with extra security precautions', and Soviet bunkers are being used to keep workers safe
UAE, Turkey chambers of commerce review advancing cooperation
During the meeting, prospects for collaboration between private sector institutions in the countries and ways to enhance them were reviewed.The FCCI expressed readiness to promote the opportunities presented by Turkey among Emirati business-owners
The two sides also mulled over the possibility of signing an MoU between ULUSKON and FCCI
