Brighter US economic outlook fuels global oil demand growth forecast
Rising fuel needs of ships rerouted away from the Red Sea also to increase demand, the International Energy Agency said....
Geostrategy
ADNEC to organize first Bitcoin MENA Conference in Abu Dhabi
Abu Dhabi, UAE--ADNEC Group has announced the launch of the region's first Bitcoin MENA Conference 2024 set to take place...
Business
Economy
Qatar and Iran to boost cooperation in labor sector
Dubai, UAE-- Qatar and Iran intend to expand cooperation in the fields of labor, employment, and exchange of skill-training experiences.The...
- The two ministers met on the sidelines of the 111th session of the International Labour Conference in Geneva and discussed deepening ties
- Qatari minister while applauding Iran's role during the sanctions said Doha will never forget Tehran's support during the period of crisis
Business
UAE and Cambodia to ramp up bilateral trade to US$1bn in five years
Phnom Penh, Cambodia-- The UAE and Cambodia have agreed to boost economic ties, expanding the bilateral non-oil trade from the...
- The two sides agreed that the Comprehensive Economic Partnership Agreement signed during the visit was the best means of achieving the economic ambitions
- The UAE side explored opportunities to enter into partnerships with business executives from Cambodia's fast developing sectors like apparel and fintech
Economy
UAE national banks provide $99.9 bn credit to trade, industry in Q1 2023
Abu Dhabi, UAE - Credit financing provided by the UAE national banks to the trade and industry sectors grew 6.1...
- The statistics showed that the cumulative balance of credit provided by national banks to the two sectors amounted to $99.9 billion
- According to the apex bank’s data, the cumulative balance of credit provided by national banks to the two sectors increased on a monthly basis by 0.1 percent
Geostrategy
UAE and Japan look to boost ‘strategic’ relations with focus on energy
Tokyo, Japan-- The UAE and Japan have discussed ways to strengthen the strategic partnership with a sharp focus on the...
- The UAE's Foreign Minister Sheikh Abdullah bin Zayed met with Japan's Prime Minister Fumio Kishida in Japan and discussed ways to boost strategic partnership
- The foreign minister pointed to the "pioneering example of strategic cooperation" that has gone on for more than 50 years between the two nations
Business
 Halal crypto investments: UAE-based Islamic Coin gains over 1.3m users
Dubai, UAE - Founded in 2022, Islamic Coin ($ISLM) has garnered a community of over 1.3M users, a feat accomplished...
- The coin which aims to cater to over 2 billion Muslims worldwide is the first Shariah-compliant decentralized ledger
- Current market trends indicate that the global Islamic finance market will exceed $3.69 trillion by 2024
Economy
UAE bank investments touch record high at US$149.35bn in March
Abu Dhabi, UAE--UAE's bank investments climbed to a record level, touching $149.35 billion by the end of March, the highest...
- According to CBUAE, the investments showed a year-on-year growth of 16 percent as against $129 billion in March 2022
- The stock investments hit $3.26 billion in March, a jump of nearly 0.8 percent from around $3.21 billion in December 2022
Business
GCC digital banking targets $2trn with cloud services
GCC authorities, however, acknowledge the accompanying challenges and are developing regulations to enhance digital banking experiences. A key requirement is...
- The next phase of the digital revolution in the region will see 5G services reaching two-thirds of the population by 2026, enhancing the end-to-end customer experience
- By 2025, Saudi Arabia aims to boost fintech GDP contribution to $ 1.2bn and increase the number of fintech players. UAE and Kuwait are also making strides in digital banking.
Geostrategy
Russia plans to make Iranian drones by next year, says US government
Russia is receiving materials from Iran to build a drone factory that "could be fully operational early next year," White...
- "The Russia-Iran military partnership appears to be deepening," Kirby said in a statement, citing US intelligence information.
- Washington estimates that Russia has received hundreds of attack drones as well as related equipment from Iran to aid Moscow's invasion of Ukraine.
Business
Sahara salt diggers struggle to stay in business
Digging for salt is punishingly hard work, rewarded by an income that fluctuates according to whichever buyers happen to pass...
- Salt digging, carried on from generation to generation, was a thriving business, involving a commodity so precious that it was bought and sold across the Sahara and beyond.
- Over centuries, hundreds of pits have been dug by hand and then filled with water to leach salt from the local rock.
Business
Dubai records $2.45 billion in weekly real estate transactions
Dubai, UAE -- A total of 3,397 real estate and properties transactions valued at AED 9 billion ($2.45 billion) were...
- The DLD data showed that 204 plots were sold for AED 1.52 billion, 2,562 apartments and villas were sold for AED 5.69 billion.
- A total of 134 properties were granted between first-degree relatives worth AED 340 million and the sum of mortgaged properties was AED 1.52 billion.
Brighter US economic outlook fuels global oil demand growth forecast
Rising fuel needs of ships rerouted away from the Red Sea also to increase demand, the International Energy Agency said....
Geostrategy
Company News
Latest News
Pure Health announces IPO
Business
Mumtalakat, Investcorp ink pact
Business
Dragon Oil, Turkmennebit ink MoU
Aim is to expand Dragon Oil’s investments in Turkmenistan.
Business
Aramex partners with Bollywood film Dunki starring Shah Rukh Khan
DUBAI, UAE - Aramex, a global provider of comprehensive logistics and transportation solutions, announced a collaboration with the movie, Dunki...
Business
Global maritime trade sails into geopolitical storm
Most large international shipping companies have decided to reroute trading to avoid the Red Sea and Suez Canal through which...
Most Read
Business
Google Chrome begins restricting cookies in first step towards elimination
Paris, France - Google has begun limiting third-party cookies for some users of its Chrome web browser, a first step towards...
- Cookies, small files which are used to target advertising by tracking web navigation, have recently been subject to greater regulation.
- Google announced in January 2020 that it would begin eliminating third-party cookies within two years, but the start has been delayed several times.
Business
Tesla to recall 1.6m EVs in China
China is a vital component in US-based Tesla's global layout.
- Problems related to assisted driving functions and door-locking systems are said to be the reason for the recall of cars
- The recall also includes 7,538 imported Tesla models made between October 26, 2022 and November 16, 2023
Business
Dubai records $1.57 billion in weeklong real estate transactions
Dubai, UAE -- A total of 1,721 real estate and properties transactions valued at AED 5.8 billion ($1.57 billion) were...
- The DLD weekly report said that114 plots were sold for AED 1.36 billion, 1,183 apartments and villas were sold for AED 3.13 billion.
- A total of 98 properties were granted between first-degree relatives worth AED 617 million.