Hyperloop progress: Racing ahead or falling behind?
Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023...
Business
Business
Fourth cycle of Dubai SME 100 gets underway
The fourth cycle is expected to highlight SMEs in Dubai that have shown resilience and progress despite the Covid-19 pandemic.
- Dubai SME 100 is initiative that ranks the top 100 SMEs in Dubai based on their performance
- It aims to identify SMEs based on financial and non-financial parameters, and support their growth
Geostrategy
Greatest shows on earth: How expos changed the world
International expos, or world fairs, draw millions of visitors to a chosen city every few years. Over two centuries these...
- The first universal exposition took place in Paris in 1798 to show off French industrial know-how.
- The record is held by the Chinese city of Shanghai, which drew 73 million visitors in 2010.
Economy
Brent crude price jumps above $80 a barrel
With the rollout of vaccines and easing of lockdowns this year, bets on demand for the black gold have surged,...
- Brent climbed 0.9 percent in morning Asian trade to $80.24, its highest level since October 2018.
- The advance comes even as the global economic recovery shows signs of slowing owing to supply chain issues
Geostrategy
Revelations at Expos in the Past: Ketchup, Eiffel Tower, telephone
As Expo 2020 opens in Dubai on Friday, hoping to attract millions of visitors with its imaginative pavilions and technological...
- The most famous Expo was perhaps the Paris 1889 edition, where the Eiffel Tower by architect Gustave Eiffel was unveiled.
- Alexander Graham Bell's telephone was first demonstrated to the public at the Philadelphia world fair in 1876.
Economy
Dubai Expo unveils its gleaming pavilions
Dubai's edition, the first in the Middle East, is expected to be the biggest event ever held in the region...
- Dubai's edition, the first in the Middle East, is expected to be the biggest event ever held in the region with estimates of 25 million visitors over its six-month lifespan
- The fair is another feather in the cap for Dubai, which has long strived for recognition with achievements such as the Burj Khalifa, the world's tallest building at at 828 metres
Business
Agthia to pay $17.8m in H1 dividend
The Abu Dhabi-listed company will pay AED 65.31 million cash dividend.
- The company’s total revenues grew 21 percent year-on-year to 1.32 billion dirhams in the first six months of 2021.
- The dividend marks the first interim pay-out of the firm.
Economy
Expectations rise for Expo 2020 gains to materialize
A study published said projections for 2019 indicated investments that would generate long-term returns of up to $33.3 billion.
- The mega event is expected to create 905,200 job opportunities.
- A survey ahead of Expo 2020 by the Dubai Chamber of Commerce and Industry maintains Dubai’s economy was recovering.
Interview
Expo 2020: Cisco operating next generation IT network
The company, the Expo's 2020 official partner, is ready to greet visitors and provide them with the most up-to-date digital...
- The company, the Expo's 2020 official Digital Network Partner, is ready to greet visitors and provide them with the most up-to-date digital solutions
- It will deploy 20,000 secure endpoints across the site to deliver industry leading connectivity
Business
Qatar Airways gets $3bn govt assistance after huge loss
The airline reported an overall loss of $4.1 billion for the year to March 31, double the figure for the...
- The Gulf-based carrier recently reported an underlying operating loss of $228.3 million
- Qatar Airways is the second largest airline in the Middle East after Dubai-based Emirates
Business
MidChains finishes first trades of assets
Abu Dhabi-based virtual asset trading platform has traded in Bitcoin, Ethereum, Litecoin, etc.
- MidChains has confirmed trades across Bitcoin, Ethereum, Litecoin and Bitcoin Cash and is the first regulated platform in the UAE to have conducted trades across all these virtual
- MidChains is the first and only fully-regulated virtual asset trading platform to receive sovereign wealth fund backing in the region
Company News
stc Q1 revenue $4.84 billion
Business
ADNOC Gas Q1 net income up 9%
Business
Latest News
Dana Gas posts fall in profit
Business
UAE supplies 25.63 million barrels of crude oil to Japan in June
Tokyo, Japan--Japan's crude oil imports from the United Arab Emirates amounted to 25.63 million barrels in June 2023, or 37.4...
Business
MENA region rides the wave of digital transformation
With an estimated IT spending of $175.5 billion in 2023, the region is embracing digital solutions, leveraging advanced technologies, and...
Business
UAE to mobilize global tech, space sectors for climate action ahead of COP28
ABU DHABI, UAE - Key UAE government entities have partnered to boost coordination between advanced technology and space sectors. The...
Economy
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Business
‘Barbie’ set to screen in UAE theaters on August 10
Dubai, UAE - The highly anticipated 'Barbie' movie is all set to grace the big screens in the UAE on...
- Local theaters, including VOX Cinemas, Reel Cinemas, and Roxy Cinemas, have already opened pre-orders for eager viewers
- The UAE, consistent with its practice along with other GCC countries, ensures that movies adhere to strict cultural norms before granting screening rights
Business
Bahrain pledges to protect consumer rights in e-commerce sector
Manama, Bahrain-- Looking to develop the e-commerce sector in the kingdom, Bahrain's Ministry of Industry and Commerce has published a...
- The ministry is monitoring e-commerce platforms and commercial activities in order to ensure that consumer interests are protected
- The survey is designed to boost communication with consumers, receive complaints and observations, and develop policies and laws accordingly
Economy
Oil prices surge for 6th straight week as global supplies tighten
Dubai, UAE--Oil prices soared more than a dollar a barrel on Friday to record a sixth consecutive week of gains,...
- UBS said, with the production cut extended, there can be a market deficit of more than 1.5 million barrels per day (bpd) in September
- On Wednesday the U.S. Energy Information Administration reported that the country's crude oil inventory declined by a record 17m barrels