Singapore’s Petrozo Energy setting up Sharjah base to target Middle East
Sharjah, UAE – Petrozo Energy, a leading Singapore-based oil and gas company, has announced a plan to establish a new...
Business
Business
Zain Group unveils unit to help boost regional telecom infrastructure
ZainTech will provide solutions for Cloud, Cybersecurity, Big Data, IoT, AI, Smart Cities and Emerging Technologies while incorporating NXN and...
- Solutions for Cloud, Cybersecurity, Big Data, IoT, AI, Smart Cities and Emerging Technologies remain key focus
- Andrew Hanna has been appointed CEO of the newly launched ZainTech
Business
Lloyds Bank, the British lender, to shut down 48 branches
Lloyds Banking Group will close a further 48 branches across England and Wales, the British lender said on Wednesday, as...
- The closures are the latest in a string of such moves by the bank, which in June announced the closure of 44 different branches
- Lloyds said it is responding to customers using branches less frequently
Business
EDB, ADIO join hands to boost business in Abu Dhabi
The two parties have signed an MoU to promote business establishments and Foreign Direct Investments.
- The main aim of the MoU is the expansion of the private sector in Abu Dhabi and inclusive economic growth
- The collaboration is expected to enable investment in Abu Dhabi from SMEs, big firms, and startups
Business
Bitcoin hits new record above $65,000 after Wall Street foray
Bitcoin hit a new record on Wednesday, surging past $65,000 after it took another step towards mainstream status as the...
- A bitcoin futures exchange-traded fund (ETF), a type of financial instrument, made its debut on the New York Stock Exchange on Tuesday
- The cryptocurrency soared to $65,778, according to CoinMarketCap
Science
Rio Tinto to ‘halve’ emissions
Mining releases 4-7% of global greenhouse gas emissions.
- Rio Tinto said it would spend around $7.5 billion from now until the end of the decade to reduce emission
- The cut would be to so-called scope one and two emissions — from mining operations and power consumption
Business
Jack Ma’s Europe trip sends Alibaba shares soaring
Jack Ma’s Ma's presence in Spain was reported by the South China Morning Post, which is owned by Alibaba. The...
- The news has renewed investor hopes that the worst of China's regulatory crackdown for the Alibaba Group might be over
- Chinese officials last year spiked what would have been a world-record $37-billion IPO for Alibaba's financial group Ant
Business
Sharjah Islamic Bank board okays 40 percent foreign ownership ceiling
Sharjah Islamic Bank has announced that its board of directors agreed to raise the percentage of foreign ownership in the...
- The board's nod will now be submitted to the bank’s general assembly for a discussion and final decision.
- In its recent financial results, the bank had announced an increase in its net profit by 29.6 percent for the nine months ended Sept. 2021.
Business
DP World launches digital platform CARGOES Logistics
The platform is apparently aimed to address complexities and inefficiencies that exist in global supply chains.
- The first phase of the launch is expected to immediately offer customers access to book cargo from UAE to India
- They can also book cargo from India to multiple destinations across the Middle East, Subcontinent, Southeast Asia, the Far East, and North Africa
Business
Dubai records $4.4 billion realty sales in September, highest since 2013
The months leading up to the launch of Expo 2020 Dubai witnessed a surge in realty transactions, with September recording...
- A total of 5,762 sales transactions in September bring the year-to-date total value to over AED100 billion.
- In September 2021, 56 percent of all sales transactions were for secondary/ready properties and 44 percent were for off-plan properties.
Business
Lebanon central bank audit demanded by creditors to resume
A New York-based firm contracted by the Lebanese government is to resume its audit of the central bank Thursday in...
- The International Monetary Fund and France are among creditors demanding an audit of Banque du Liban as part of urgent reforms to unlock financial support
- The contract with A&M was signed by Finance Minister Youssef Khalil last month only days after he took up his post
Singapore’s Petrozo Energy setting up Sharjah base to target Middle East
Sharjah, UAE – Petrozo Energy, a leading Singapore-based oil and gas company, has announced a plan to establish a new...
Business
Company News
Latest News
EDGE signs agreement with Turbomachine to jointly build engines
Abu Dhabi, UAE--EDGE has signed an agreement with Turbomachine to work together on the development of engines, including turbofan and...
Business
US to invest $1.2 bn on facilities to pull carbon from air
The two projects -- in Texas and Louisiana -- each aim to eliminate one million tons of carbon dioxide per...
Geostrategy
Riyadh to host Peace and Sport Middle East Forum in Oct
Riyadh, Saudi Arabia -- For the first time, Riyadh will host the Peace and Sport Middle East Forum, powered by...
Arts & Culture
Most Read
Business
Saudi League to be broadcast on Fox Sports in USA
The American network will launch the deal with broadcasts of two games on Monday featuring Ronaldo and Karim Benzema. Fox's...
- Ronaldo's arrival in the kingdom has sparked off big money acquisitions and the league will reach fans across the US
- Clubs across Saudi Arabia have deployed their huge budgets to win over football stars like French striker Benzema
Economy
Kazakhstan keen to bolster joint investments with UAE: Razdykovich
The Kazakh minister said his country hopes to benefit from the UAE's experience in tourism and development sectors as he...
- The minister evinced his country's keenness to shore up cooperation with the UAE, particularly in sectors seen as crucial by both countries
- He pledged to support Emirati investors in order to boost areas of cooperation, reaffirming that Abu Dhabi will "always be an important partner for us"
Business
Dubai records 2.6bn in weekly real estate transactions
Dubai, UAE - A total of 3,103 real estate and properties transactions valued at approximately $2.64 billion in total were...
- The weekly DLD report noted that 235 plots were sold for about $609 million, 2,302 apartments and villas were sold for approximately $1.57 billion
- Madinat Hind 4 recorded the most transactions for this week, with 72 sales transactions worth roughly $28.17 million