China’s LNG ambitions take shape
The 344-meters-long QC-Max vessel, being built by Hudong-Zhonghua Shipbuilding, is designed for a major Qatari LNG expansion project.
Business
Business
UAE and India sign MoUs to deepen ties in renewable energy, healthcare
Abu Dhabi, UAE--The UAE Ministry of Investment has signed three memorandums of understanding (MoUs) with India, setting out frameworks for...
- Trade between the UAE and India touched $84.5 billion between April 2022 and March 2023, and is expected to reach $100 billion by 2027
- The MoU in the renewable energy focuses on forging effective collaboration by building relationships between public and private organizations
Business
GCC telecom firms turn to Europe, Asia for expansion
Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home...
- Lower valuations of international telecom companies are enticing GCC companies to venture into newer markets with a lot of potential for growth
- Many experts feel expansion will provide diversification of the portfolio beyond the GCC to mitigate risks associated with economic fluctuations
False tweet from US regulator briefly sends bitcoin soaring
The jump in the price of bitcoin to almost $48,000 came immediately after the SEC published a message on its...
- Just after 4 pm local time, the price of the world's largest digital currency in terms of circulation surged towards its highest level for more than 22 months, before falling again
- "The unauthorized tweet regarding bitcoin ETFs was not made by the SEC or its staff," an US Securities and Exchange Commission's spokesperson later told AFP
Geostrategy
Honda unveils futuristic EV series
It will introduce a commercial model in the US in 2026.
- The automaker's "Saloon" model features a low platform with a wide interior and sleek silhouette
- The company set an ambitious target of achieving 100 percent electrified vehicle sales by 2040
UAE startups eye Saudi Arabia for growth, expansion
With both nations offering substantial markets and supportive environment for innovation, startups are exploring new opportunities in the Kingdom.
- UAE-based startups are increasingly turning to Saudi Arabia, leveraging the Gulf's largest economy to scale up their operations.
- With both nations offer substantial markets and supportive environment for innovation, startups explore new opportunities in the Kingdom.
Opinion
Rising threat of lookalike domains poses new challenge
"Detecting these attacks and avoiding falling victim to them is vital, but the ability to take down lookalike domains is...
- Lookalike domains deceive users via SMS, social media DMs, and QR codes.
- DNS vulnerability allows attackers to create authentic-looking fake domains.
Business
Middle East air cargo volumes up 13.5% in November
Dubai, UAE - Middle Eastern carriers recorded a 13.5% year-on-year increase in cargo volumes, strongest performance in the world. In November...
- Global demand for air cargo, measured in cargo tonne-kilometres (CTKs), increased by 8.3% compared to November 2022
- Most of the capacity growth is attributed to the increase in belly capacity as international passenger markets continue their post-COVID recovery
Business
Dubai’s RERA signs MoU with Zand Digital Bank
Dubai, UAE--The Real Estate Regulatory Agency (RERA), the regulatory arm of Dubai Land Department (DLD), signed a memorandum of understanding...
- The bank has been authorized by DLD to oversee real estate development escrow accounts and offer associated services
- The chief aim of the escrow account is to streamline the construction process for off-plan units, safeguarding the interests of investors
Business
EU examines Microsoft large investment in OpenAI
Brussels, Belgium - The EU, racing to regulate the fast-moving world of artificial intelligence, said on Tuesday it has started a...
- The early-level examination is "checking whether Microsoft's investment in OpenAI might be reviewable under the EU Merger Regulation," the European Commission said.
- The move is part of efforts by Brussels to make sure its regulatory oversight can catch up with AI developments and stop major players shutting out competitors.
Business
GSK to buy Aiolos Bio
The focus is on an asthma medication still at the testing stage.
- The acquisition hands GSK access to AIO-001, a long-acting antibody which is ready to enter Phase II clinical development for the treatment of adults with asthma
- AIO-001 was exclusively licensed to Aiolos outside of China by Jiangsu Hengrui Pharmaceuticals, which initially developed the asthma treatment
China’s LNG ambitions take shape
The 344-meters-long QC-Max vessel, being built by Hudong-Zhonghua Shipbuilding, is designed for a major Qatari LNG expansion project.
Business
Company News
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Meraas awards $544m contract
Business
Leaders warn race for minerals could turn seabed into ‘wild west’
Growing anxiety over Trump's unilateral push to fast-track deep-sea mining in international waters shot to the surface at the opening...
Geostrategy
MENA Mergers & Acquisitions deal value up 66% in Q1, hits $46 Billion
Dubai, UAE -- The Middle East and North Africa (MENA) region has kicked off 2025 with a record-breaking first quarter...
Business
US aerospace manufacturers insist they have no use for tariffs
New York, United States -- US airlines and aerospace manufacturers insist they have no use for tariff protections, warning that...
Business
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Business
Gamers get hold of Nintendo’s hotly awaited Switch 2
Tokyo, Japan -- Gamers finally got their hands on Nintendo's new Switch 2 on Thursday, the console that could score...
- The device, which features a bigger screen and more processing power, is an upgrade to the Switch that became a global phenomenon with hit games such as "Animal Crossing".
- The original Switch has sold 152 million units since its 2017 release, making it the third-best-selling console ever.
Business
Equinor signs $27 bn gas deal
The 10-year contract was signed with Centrica.
- Natural gas accounts for 38% of UK's total energy supply, according to the IEA, making it the top fuel source, and the nation depends heavily on imports.
- Russia's invasion of Ukraine and Western sanctions roiled energy markets, sparking a rise in prices that British consumers are still struggling with.
Business
Israel arms exports to UAE, Bahrain, Morocco rise sharply after 2023
Sales to countries considered part of the Abraham Accords -- the United Arab Emirates, Bahrain and Morocco who signed groundbreaking...
- Israel's defense ministry said that its arms exports hit an all-time high of more than $14.7 billion in 2024, despite international criticism of ongoing Gaza onslaught.
- A majority -- 56.8 percent -- of the deals signed were "mega-deals" valued at at least $100 million each, the ministry said, adding that "operational achievements" in the Gaza war.