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ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Alpha Dhabi acquires interest in NCTH

The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.

Meraas awards construction contract

The $272m contract has been awarded for Bluewaters Bay.

SIB’s 2024 profit $272m

The profit surpassed AED 1 billion for the first time in bank's history.

AD Ports to invest in Kazakh port

Under the deal, AD Ports Group owns 51% stake.

  • Shell exits North Sea oilfield project

    Royal Dutch Shell has exited the planned Cambo oilfield project off the Scottish coast because of insufficient financial gain, as...

    Shell, which has a 30-percent interest in the North Sea development, said late Thursday that the investment case was simply "not strong enough"

    The decision comes after major powers last month agreed at the COP26 climate summit in Scotland to curb the use of fossil fuels

  • Louvre Abu Dhabi license extended until 2047

    The Louvre Abu Dhabi's license has been extended by 10 years to 2047, the French presidency said Friday during a...

    The French president and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed agreed to the "extension for 10 years of the partnership over the Louvre Abu Dhabi

    The move will see Abu Dhabi pay 165 million euros ($186 million) between 2022 and 2023 for the extra decade

  • UAE to buy 80 French Rafale fighter jets

    The Rafale order is the biggest made internationally for the aircraft since it entered into service in 2004.

    The UAE has also agreed to buy 12 Caracal military transport helicopters

    The Middle-Eastern country is one of the French defense industry's biggest customers

  • Tech-enabled sustainability can help hospitality

    SB Group founder and CEO Sanjeevv Bhatia says the hotel industry can no longer ignore net-zero goals.

    Hospitality buildings account for about 40 percent of worldwide energy consumption and GHG emissions

    Old buildings are riddled with vendor-locked and legacy systems that are inflexible and thus difficult to optimize

  • IMF says chief economist taking top leadership role

    Gopinath will succeed Geoffrey Okamoto as first deputy managing director, serving under IMF chief Kristalina Georgieva.

    Gopinath will succeed Geoffrey Okamoto as first deputy managing director, serving under IMF chief Kristalina Georgieva

    Gopinath, who was appointed to her current role in October 2018, was due to return to her position at Harvard University in January but will now leave the university

  • London based firm seeks investment opportunities in Jordan

    "Jordan represents a unique and strategic opportunity for global investors. We are looking forward to strengthening our ties further in...

    This is a major move for RiverBay Capital on its mission to provide Europe with institutional access to markets in the Middle East

    RiverBay Capital has successfully established itself as a bridge between real estate markets in Europe and the Middle East

  • NASA awards $415m contracts for commercial space stations

    Jeff Bezos' Blue Origin, aerospace company Nanoracks and defense contractor Northrop Grumman won $130 million, $160 million, and $125.6 million...

    The US space agency is increasingly turning to private industry to develop hardware it once made itself

    This helps it cut costs and focus on goals that include building habitats on the Moon and preparing for a crewed mission to Mars

  • Blink Experience backs Saudi GP

    Saudi GP said the UAE company is now an official supporter.

    The Saudi GP is expected to be the largest sporting event to be hosted by the country

    It is going to be held for the first time at the Jeddah Corniche Circuit

  • European Union fines major banks 344 million euros over forex cartel

    Brussels slapped fines totaling 344 million euros (390 million dollars) Thursday on Barclays, RBS, HSBC and Credit Suisse after finding...

    Barclays, RBS, HSBC and Credit Suisse were fined and UBS's fine was reduced to zero as it voluntarily came forward to cooperate with regulators.

    These fines brought to an end the third part of an investigation that has been ongoing since 2013 and which had already resulted in more than one billion euros in fines in 2019.

  • Pakistan’s national carrier to start flights from Karachi to Mashad in Iran

    Chief Executive of Pakistan International Airlines (PIA) Air Marshal Arshad Malik announced that the PIA will start direct flights from...

    Currently, Iran Air operates a flight a week from Tehran to Karachi and vice versa.

    There are reports that Mahan Iran Airlines will resume flights from Tehran and Mashad to Lahore.