47 global firms interested in developing 7th phase of Al Maktoum solar park
Dubai, UAE --Â A total of 47 international companies have shown interest in developing the seventh phase of the Mohammed bin...
Business
UAE tourism generates $12.24bn in hotel revenues in 2024: Minister
Abu Dhabi, UAE --Â Hotel revenues in the UAE reached approximately AED 45 billion ( $12.24 billion) in 2024, reflecting...
Business
Economy
UN says right environment policies can generate 20 million jobs
“It is critical that as we scale up the use of Nature-based Solutions (NbS) we make sure we do not...
- Nature-based solutions aim to protect, restore, and sustainably manage waters and marine ecosystems.
- New Green Jobs for Youth Pact, launched by ILO and UNEP at COP27, aims to create one million new green jobs.
Business
Turkish investments in Algeria exceed $5 billion: Foreign minister
Algiers, Algeria--- Turkish investments in Algeria have exceeded $5 billion and the desired goal of $10-billion trade between the two...
- Mevlut Cavusoglu said the number of Turkish companies operating in Algeria exceeded 1,400.
- He said the desired goal of $10bn bilateral trade between the two countries could be achieved in a short time.
Videos
Is GCC insurance industry ready for the change?
Industry experts stress the need for harnessing the momentum the industry has gained after the recovery from Covid setbacks.
- PwC Middle East advises insurers, as they look to 2025 post Covid recovery, to harness "the momentum they have gained" to meet new challenges.
- "Regardless of how insurers capitalize on these trends, they will need to reassess the future and reimagine their place in the world," says Sanjay Jain of PwC.
Business
Continuous efforts to enhance UAE’s endeavor to confront money laundering crimes: CBUAE Governor
The apex bank "will continue to take all measures to ensure the maintenance of the integrity of the financial system...
- The CBUAE is making continuous efforts to enhance the fight against all forms of financial crimes and money laundering, says its Governor Khalid Mohammed Balama
- The Gulf country is developing effective policies and legal frameworks, governance and executive machineries, and close follow-up of all illegal financial transactions, he adds
Business
Riyadh summits bring in fresh hopes, opportunities as region sees China as ‘growth engine of global economy’
While a UAE official in Beijing calls the China-Arab summit a key milestone in the history of relations between the...
- While a UAE official in Beijing calls the China-Arab summit a key milestone in the history of relations between the two peoples, Palestine hails its outcomes as 'beyond expectation
- The UAE accounts for over 60 percent of China’s exports to the region, with China being the UAE’s largest trading partner, and the UAE being home to more than 6,000 Chinese firms
Economy
Pipeline leak in US results in 588,000 gallons crude spill
Canadian-based TC Energy, which operates the pipeline, detected the leak Wednesday night in Kansas and immediately halted the flow of...
- If the estimate on the size of the spill holds, it will be the largest crude oil spill in the United States since 2013
- Transportation Secretary Pete Buttigieg tweeted that authorities "are monitoring and investigating the... leak."
Geostrategy
US could change green subsidies rules as EU fears unemployment
The United States is open to amending lucrative green subsidies that have drawn transatlantic anger for allegedly encouraging job losses...
- Washington's landmark Inflation Reduction Act contains $370 billion in subsidies for green energy and tax cuts for US made electric cars
- Biden defended the act and said it was never intended to disadvantage US allies, and has committed to understanding EU concerns.
Business
DEWA receives 29 EOIs for first phase of desalination project at Hassyan
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has received 29 expressions of interest (EOIs) to implement the first...
- This is the first project implemented by DEWA using the Independent Water Producer model, which will run in phases during 2025 and 2026.
- The firm uses clean solar power to desalinate seawater using the latest Reverse Osmosis technologies, which consume less energy.
Geostrategy
UAE, Turkmenistan review enhancing bilateral relations
ASHGABAT, TURKMENISTAN - Minister of Industry and Advanced Technology Dr. Sultan bin Ahmed Al Jaber has left the UAE on...
- The UAE Minister of Industry and Advanced Technology headed a delegation comprising senior officials from government, private sectors to Turkmenistan.
- The delegation discussed ways to develop bilateral relations and enhance cooperation in the fields of oil, gas, clean energy, infrastructure.
Business
DEWA receives 29 EOIs to set up desalination project at Hassyan complex
The company has received 29 expressions of interest to implement first phase of its Hassyan Sea Water Reverse Osmosis Plant.
- The company has received 29 expressions of interest to implement first phase of its Hassyan Sea Water Reverse Osmosis Plant
- It has appointed a consortium of companies, including Deloitte, WSP and Addleshaw Goddard, to provide consultancy services for the project
47 global firms interested in developing 7th phase of Al Maktoum solar park
Dubai, UAE --Â A total of 47 international companies have shown interest in developing the seventh phase of the Mohammed bin...
Business
Company News
UDC posts net profit of US$63m
Business
QFZ, Samsung C&T ink MoU
Business
Latest News
UAE consumer spending expected to rise by 5% in 2024: Mastercard report
Dubai, UAE -- Consumer spending in the UAE is expected to increase by 5 percent in 2024, while consumers and...
Economy
UAE central bank cash deposits up by 10.2% in Oct to $187 billion
Abu Dhabi, UAE -- The Central Bank of the UAE (CBUAE) said Thursday cash deposits surged to AED 687.2 billion...
Business
Saudi Arabia’s holdings of US Treasuries up $399 million in Oct 2023
Riyadh, Saudi Arabia -- Saudi Arabia’s holdings of US Treasuries reached $117.5 billion in October 2023, up $399 million month-on-month...
Business
Most Read
X users report global outage: monitoring site
With no way to post on X, social media users published updates about the outage on rivals including Facebook, Threads,...
- Reports of the platform's troubles began spiking just before 0600 GMT on monitoring site Downdetector
- Timelines on the platform were emptied and no new posts visible, although the twitter.com site was available
Business
Warner Brothers Discovery explores merger
Warner Brothers Discovery brands include CNN and HBO.
- Warner Brothers Discovery chief executive David Zaslav met with Paramount Global boss Bob Bakish for several hours to discuss the possibility of merging the companies
- Warner Brothers Discovery brands include CNN, HBO, and its eponymous film studios, while Paramount’s properties include its movie studios of the same name
Business
London’s transport shifts gears with TfL’s cargo bike action plan
London, United Kingdom - On a busy north London street, plumber Ben Hume-Wright zipped through the heavy rush-hour traffic to his...
- Transport for London (TfL), the local government body responsible for most of the British capital's transport network, launched its first "Cargo Bike Action Plan" earlier this year
- The use of cargo bikes also increased during lockdown and encouraging their use chimes with Mayor Sadiq Khan's aim of a carbon net-zero city by 2030