Anthropic’s Claude AI gets smarter — and mischievious
San Francisco, United States -- Anthropic launched its latest Claude generative artificial intelligence (GenAI) models on Thursday, claiming to set...
Business
May 2025 Islamic Treasury Sukuk auction attracts bids worth $1.88bn
Abu Dhabi, UAE -- The Ministry of Finance (MoF), in its capacity as the issuer and in collaboration with the...
Business
Business
Chip industry transformations enable Qatar, other GCC countries to diversify their economies, say experts
The Gulf countries are also able to attract highly qualified and scientific expertise and skilled workers, and they possess the...
- There is an opportunity for emerging economies, especially the Gulf countries, including Qatar, to move towards the electronic chip and semiconductor industry
- The region has the financial capacity to handle the electronic chip and semiconductor industry that requires investments worth tens of billions of dollars
Business
EU strikes deal to create world’s first ‘green’ bond standard for investors
Investors' appetite for "green debt", used to finance renewable energy projects, low-carbon transport or well-insulated housing, is growing exponentially. But...
- The parliament said this green bond standard will "enable investors to orient their investments more confidently towards more sustainable technologies and businesses".
- The European bond market's annual trades are estimated to be worth 100 trillion euros ($107 trillion).
Business
UAE records fastest growth rate in 10 years, says economy minister
Abu Dhabi, UAE - UAE's Minister of Economy Abdullah bin Touq Al Marri said Wednesday that in 2022, the UAE...
- The country is implementing comprehensive economic initiatives to increase the capacity of the national business environment to attract capital.
- The UAE has utilized advanced technologies to develop capacities and meet the growing demand in these sectors.
Business
ACWA signs $8.5 bn financing agreements with NEOM green project
Dubai, UAE--Saudi Arabian utility developer ACWA Power said Wednesday it has signed financing agreements for a total investment of $8.5...
- NEOM Green Hydrogen Project is a joint venture between ACWA Power, Air Products and NEOM Company, with ACWA Power holding a 33.3 percent equity stake.
- The total financing consists of $5.85 billion senior debt and $475 million of mezzanine debt facilities.
Business
Dubai records over $843 million in realty transactions
Dubai, UAE-- Dubai real estate market recorded deals worth AED3.1 billion ($843 million) on Wednesday, according to Dubai Land Department....
- The deals included 598 sales transactions worth AED1.55 billion, in addition to 68 mortgage deals of AED1.48 billion on Thursday.
- The sales included 547 villas and apartments worth AED1.13 billion, and 51 land plots worth AED421.05 million.
Business
Masdar to invest $1.2 billion in British battery strorage tech
Dubai, UAE—UAE’s renewable energy company Masdar will invest 1 billion pounds ($1.20 billion) in British battery storage technology, Reuters said....
- Masdar bought UK-based battery company Arlington Energy last year.
- In January this year, Masdar signed agreements with three Angola, Uganda and Zambia to develop renewable energy projects with a combined capacity of up to 5 gigawatts (GW).
Business
World Cup airlift helps flydubai to record profits in 2022
Profits soared 43 percent to 1.2 billion dirhams ($327 million) despite higher oil prices as the United Arab Emirates carrier...
- flydubai, which has been operating since 2009, reported a 72 percent rise in annual revenues and an 89 percent increase in passengers to 10.6 million.
- The airline, based in the Middle East financial hub of Dubai, hired a record 1,300 employees and took delivery of 17 aircraft, another new high.
Business
UAE secured 34% of Japan’s crude oil needs in Jan
Oil remains the most significant energy source in Japan, accounting for about 40 percent of the country’s total energy supply,...
- The country imported 84.4 million barrels during the month, according to to the Agency for Natural Resources and Energy in Tokyo
- Oil remains the most significant energy source in Japan, accounting for about 40 percent of the country’s total energy supply
Economy
Dubai’s RERA signs MoU with Al Ameen Service
Dubai, UAE -Dubai Land Department (DLD), represented by the Real Estate Regulatory Authority (RERA), has signed a memorandum of understanding...
- DLD is ramping up its efforts by providing an innovative and sustainable global real estate model
- The agreement aims to enhance confidence in Dubai’s real estate sector by providing a safe and distinctive investment environment
Business
Saudi Arabia fintech firm Amwal raises $2.5M pre-seed funding
The funds will be used by Amwal to further develop their technology and expand in the MENA region.
- The funds will be used by Amwal to further develop their technology and expand in the MENA region
- The Saudi Central Bank has also approved a cryptographic biometric checkout solution developed by Amwal
Anthropic’s Claude AI gets smarter — and mischievious
San Francisco, United States -- Anthropic launched its latest Claude generative artificial intelligence (GenAI) models on Thursday, claiming to set...
Business
Company News
EDGE signs MoU with MBRSC
Business
Solutions+, EIH sign MoU
Business
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Egypt denies suspending navigation through Suez Canal
Cairo, Egypt - Egypt Saturday said that navigation movement in the canal is regular from both directions, Chairman of the...
Geostrategy
Record-breaking home sales in Dubai’s upscale market in 2023
Dubai, UAE – Sales of properties worth more than $1.35 million and $2.70 million in Dubai hit record levels in 2023,...
Business
Oil prices rise after US, UK strike Houthi rebels
Oil prices surged four percent after US and UK forces launched strikes against Iran-backed Houthi rebels after attacks on ships...
Market Report
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Business
Abu Dhabi real estate deals hit $517 million since Jan 1: DARI
Abu Dhabi, UAE -- Real estate transactions in Abu Dhabi amounted to approximately AED 1.9 billion ($517 million) in the...
- The value of real estate mortgages in the emirate reached about AED 1.5 billion through the registration of 215 mortgage deals.
- Al Saadiyat Island topped the list with a value of AED 8.9 million, followed by Yas Island which occupied four consecutive positions, totaling about AED 23 million
Business
Lunate Capital launches Shariah-compliant ETF tracking Indian equities
ABU DHABI, UAE - Lunate Capital announced the launch of the Chimera SP India Shariah ETF, a physical, in-kind, liquid,...
- The fund will track the performance of Shariah-compliant Indian equities listed on the Bombay Stock Exchange.
- The Index tracks the performance of the 30 most liquid Shariah-compliant Indian stocks listed on the BSE.
Geostrategy
CBUAE cancels license of First Insurance Brokers Company
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) has cancelled the license of First Insurance Brokers Company...
- The sanction comes as a result of the CBUAE’s decision following the company’s non-compliance with the regulations.
- The CBUAE works to ensure that all insurance companies and related professionals comply with laws and regulations.