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
Expo Center Sharjah wraps up successful Paper One Show
SHARJAH, UAE - Expo Center Sharjah (ECS) wrapped up the eighth edition of Paper One Show on a high note....
- The exhibition managed to cement Sharjah's leading position as one of the key regional events specialized in the paper industry.
- There was an increase of 60 percent in the exhibition over the previous edition in the number of participating companies.
Business
Non-oil trade between UAE and Kuwait up 87 percent in 10 years
Abu Dhabi, UAE--- Non-oil foreign trade between the UAE and Kuwait has grown 87 percent over the past ten years...
- The total trade between the two countries during 2013-2022 amounted to AED316.2 billion,
- Non-oil trade between the UAE and Kuwait grew 13 percent, worth AED5 billion last year, to reach AED43.5 billion, compared to AED38.5 billion in 2021.
Science
Abu Dhabi DoH names winners of Healthcare Research and Innovation Grant
ABU DHABI, UAE - The Department of Health – Abu Dhabi (DoH), which regulates the healthcare sector in the emirate,...
- The grant, launched in September 2022, received over 70 complete submissions, and the top eight were awarded a monetary prize.
- The winners will have the opportunity to conduct clinical trials and commercialize their ideas.
Business
1,400 MW more nuclear power added to UAE national grid
Abu Dhabi, UAE--The commercial operations of the Unit 3 of Barakah Nuclear Energy Plant in the Al Dhafra Region of...
- Total production from Units 1, 2 and 3 of Barakah now produce 4,200MW of clean electricity for the UAE national grid.
- Unit 3 of the Barakah Plant has completed the process from Fuel Load to Commercial Operations more than four months faster than Unit 2 and more than five months faster than Unit 1.
Geostrategy
UAE, Algerian ministers discuss enhancing bilateral cooperation
ABU DHABI, UAE - UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan and Algerian...
- UAE, Algerian ministers reviewed ways to advance cooperation in areas that contribute to sustainable economic growth.
- The two ministers discussed UAE's hosting of the 28th session of the Conference of the Parties (COP 28) this year.
Business
IAG flies back into annual profit
Net profit came in at $457m, compared to 2.9bn euros loss in 2021.
- IAG announced Thursday the acquisition of Air Europa for 500 million euros from the Spanish company Globalia.
- IAG said it recruited 7,400 colleagues last year after axing about 10,000 on Covid fallout.
Business
Bayanat, Yahsat partner to develop space programme for earth observation capabilities
The MoU brings together Bayanat’s expertise in remote sensing capabilities and data analytics, and Yahsat’s proven capabilities spanning satellite space...
- The MoU brings together Bayanat’s expertise in remote sensing capabilities and data analytics, and Yahsat’s proven capabilities spanning satellite space technology
- The strategic partnership was announced at IDEX 2023 and is aimed at establishing and operating strategic earth observation partnership within the UAE
Facebook, Instagram roll out paid subscription in Australia, New Zealand
Facing a drop in advertising revenues, parent company Meta is piloting a subscription in Australia and New Zealand before it...
- The subscription service of Meta will cost US$11.99 on the web and US$14.99 on the iOS and Android mobile platforms
- From Friday, subscribers Down Under who provide government-issued IDs can start applying for a verified badge
Canadian privacy regulators launch TikTok probe
The Chinese-owned platform is under growing Western scrutiny, and Canada's move came just hours after the European Commission banned the...
- Canada's Office of the Privacy Commissioner said it had launched a joint probe into TikTok alongside provincial privacy regulators from Quebec, British Columbia and Alberta
- The massively popular video-sharing platform has come under increasing scrutiny from the West over concerns that Beijing could access user data from around the world
Boeing halts deliveries of 787 again on fuselage issue
Boeing's difficulties with the 787 have come as the company tried to reset its relationship with the FAA following the...
- Boeing said it "discovered an analysis error" by its supplier related to the 787 forward pressure bulkhead during a review
- Air India unveiled a record series of orders earlier this month from Airbus and Boeing, including for 20 Dreamliner planes, with options for 20 more
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
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Infosys lowers revenue forecasts
Its net profit fell 7.29% Y-o-Y in the three months to December.
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Qatar records $222m in realty deals: Registration department
Doha, Qatar -- The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
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Business
EU court’s adviser says $2.6bn fine on Google be upheld
Google suffered a legal blow at the European Court of Justice when the body's adviser recommended that a US$2.6 billion...
- The opinion will feed into a legal battle Google has been waging to overturn the fine the European Commission hit it with in 2017.
- The commission determined that Google abused its dominant position by favoring its own Google Shopping service.
Business
Borouge signs supply agreement
The two-year agreement is worth AED 160 million ($43.56 million).
- Under the two-year agreement, Borouge will provide advanced infrastructure solutions to NAFFCO for various infrastructure projects across the region.
- The Guggenheim Museum, the Riyadh city project, Mohamed bin Zayed City and the Yas Island Development Project are some of the projects.
Business
FAB issues first Sukuk globally in 2024
ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps,...
- The allocation sees 76 percent directed towards dedicated Islamic investors and 38 percent towards international counterparts.
- The 1.9x oversubscribed order book represented high-quality investors, including international fund managers, supranational and banks.