SeaWorld Yas Island, Abu Dhabi wins Guinness World Records
ABU DHABI, UAE – SeaWorld Yas Island - the region’s first Marine Life Theme Park here -, has won a...
Arts & Culture
Alibaba Cloud opens training center in Dubai
It will be a hub for customers to lift up "digital competence."
Business
Business
ADEX and Egypt sign wheat, commodities financing agreement
Abu Dhabi, UAE -- Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has...
- The agreement entails a revolving financing program valued at S100 million, to be renewed annually over a five-year period, ultimately reaching a total of $500 million.
- The UAE’s support has contributed to the establishment of 25 silos in 17 governorates of Egypt, increasing wheat storage capacity by 1.5 million tons.
Ceer and Siemens deal to boost EV in Saudi Arabia
Riyadh-based Ceer is collaborating with Siemens Digital Industries Software to accelerate Ceer’s digital transformation and empower its engineers to design...
- The Saudi-German collaboration is focused on accelerating Ceer’s digital transformation, vehicle development, and manufacturing
- Siemens Xcelerator portfolio of industry software for vehicle design will be used by Ceer
Business
Gulf Hotels Group profit up
It posted a jump in net profit in Q2 to US$2.92 million.
- The bank said its income was $2.92 million in Q2 of 2023 compared to $1.03 million for the same period last year
- Its revenue for the second quarter was $20 million, compared to $17.55 million for the same period last year
Business
Estithmar opens branches in Iraq
Two subsidiaries of the Qatari firm open two branches.
- Elegancia Healthcare, established a branch in Iraq in line with the memorandum of understanding that was signed recently to manage and operate several soon-to-be-opened hospitals.
- Estithmar Holding told Qatar News Agency that it signed agreements with the Iraqi investment authority worth $7 billion that includes real-estate and tourism development.
Business
Saudi minister, Chinese firms seek collaboration in housing development
Beijing, China -- Saudi Arabia's Minister of Municipal, Rural Affairs and Housing, Majid bin Abdullah Al-Hogail, has held a meeting...
- During his meeting with SITEC Group, Al-Hogail deliberated over plans to establish an industrial complex in accordance with the highest pre-casting technology standards.
- This complex will encompass finishing materials and an operational model for industrial zones, enabling the delivery of 5,000 units annually.
Business
Oman LNG signs gas-export deal with Germany’s SEFE
Muscat, Oman-- Oman LNG has signed an agreement with Securing Energy for Europe (SEFE) to supply 400,000 tonnes of liquefied...
- The gas-supply deal looks to boost partnership between Oman LNG and international energy firms like SEFE, paving way for more agreements
- The 4-year-long contract evisages supplying a total volume of 0.4 million metric tonne per annum of LNG from Oman LNG to SEFE
Business
UAE banks provide US$7.73bn in financing to businesses in five months
Abu Dhabi, UAE-- The banks in the UAE increased their credit facilities for the business and industrial sectors by around...
- The banks raised their credit balance for the two sectors by $2.23 billion in May 2023, a monthly increase of 1.11 percent
- Abu Dhabi banks provided around $100.74 billion until the end of May, while Dubai banks lend some $96.31 billion
Business
AD Ports Q2 revenue grows 66%
The company attributed growth to increased volume across key sectors.
- On a like-for-like basis (LFL), which excludes the impact of M&A activity, the revenue growth was still significant, reaching 44 percent YoY
- The growth drivers were primarily the Maritime Cluster with a substantial 208 percent YoY increase, followed by the Digital Cluster with 26 percent
Business
Ma’aden, BADC ink agreement
Firm to supply 600,000 tons of fertilizers to BADC.
- The renewal is further proof of the company’s commitment to meet global market demand for phosphate fertilizers.
- Ma’aden supplies approximately 42 percent of Bangladesh’s estimated requirement of diammonium phosphate.
Geostrategy
Russia open to defense cooperation with several countries, says Putin
Moscow is open to equal defense cooperation with all nations seeking to protect their interests, Russian President Vladimir Putin said...
- The Russian leader stressed that the forum had earned recognition as one of the world’s largest exhibitions of advanced military equipment.
- Putin said the event makes a significant contribution to the development of Russia’s multifaceted ties with other countries.
SeaWorld Yas Island, Abu Dhabi wins Guinness World Records
ABU DHABI, UAE – SeaWorld Yas Island - the region’s first Marine Life Theme Park here -, has won a...
Arts & Culture
Company News
Abu Dhabi Islamic Bank adopts AI
Business
Telefonica to cut 3,421 jobs
Business
Latest News
UAE-Hong Kong non-oil foreign trade surges to US$16.23 billion
Hong Kong--Non-oil foreign trade value between the UAE and Hong Kong expanded in the past year, reaching $16.2 billion in...
Business
Emirates Islamic profit rises 71%
The Bank’s total income reached AED 1.2 billion ($326.69 million)
Business
Most Read
Business
DMCC launches global trade roadshow in London to attract FDI from UK
Dubai, UAE--DMCC has kicked off the ninth edition of its global trade roadshow, Made For Trade Live, in London, seeking...
- During the four quarters to the end of Q2 2023, the UAE-UK bilateral trade grew 47.3% year-on-year to reach $32.40 billion
- In 2023, more than 200 British companies joined DMCC’s business district alone, representing a 10% year-on-year growth
Business
Innovations, investment spur UAE lab equipment surge
Driven by a growing population, the prevalence of chronic diseases, and significant government investments, the UAE's laboratory equipment market is...
- Driven by a growing population, the prevalence of chronic diseases, and significant government investments, the UAE's laboratory equipment market is set to hit $1.5b by 2027.
- Technological innovations in diagnostics play a key role in this dynamic landscape, setting the UAE's healthcare sector on a path of transformative growth, say a latest report.
Business
UAE MoD ink deals worth $517m in first two days of UMEX and SimTEX 2024
ABU DHABI, UAE - On the second day of the sixth edition of UMEX and SimTEX 2024, the accumulated value...
- The second day of the event witnessed announcement of five deals signed by the Tawazun Council.
- The total number of local contracts on the second day of UMEX and SimTEX 2024 reached five contracts.