Stocks, oil slump as China retaliates and Trump digs in heels
Despite the market turmoil, Trump insisted: "my policies will never change". Wall Street stocks fell more than two percent at...
Business
Geostrategy
Supporting India’s G20 presidency is a priority for UAE, says Minister
The UAE's Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan has said that the Gulf...
- The UAE will work towards a world where human progress is an inalienable right for all.
- The UAE views the G20 as a forum that plays a critical role in multilateral efforts.
Economy
UAE 51st National Day: Central Bank launches new 1000 dirham note
Abu Dhabi, UAE---The Central Bank of the UAE launched an AED-1000 denomination note as part of the country's 51st anniversary...
- Made of polymer and using innovative designs and advanced security features, the note is the fourth in the Third Issuance of the National Currency Project.
- The new banknote will be available in Central Bank branches and ATMs in the first half of 2023.
Business
Jazeera Airways expands to Tajikistan
A direct flight from Kuwait to Dushanbe will be operated.
- The route launches on December 29 and will be operated on Thursdays and Saturdays. Flights land at the Dushanbe International Airport.
- The new route that connects pilgrims to Saudi Arabia besides offering a new travel destination for nature and adventurous culture seekers.
Business
TotalEnergies cuts UK investment
Move comes UK imposes windfall tax on energy firms.
- Total will cut its North Sea investment by US$123 million in 2023 over windfall tax.
- The move of windfall tax in last month's budget was aimed at helping fund support for British consumers hit by rocketing energy bills.
Geostrategy
EU gives US$131 million to WHO Universal Health Coverage Partnership
GENEVA, SWITZERLAND - The World Health Organization (WHO) and the European Commission agreed on reinforcing a decade-long collaboration to accelerate...
- EU contribution will focus on strengthening health systems to make them more resilient and responsive to natural, climate or human-made disasters.
- The partnership with WHO is a key deliverable of the new EU Global Health Strategy adopted by the European Commission.
Geostrategy
OPEC set to stick or cut more amid plan to cap Russian oil price
LONDON, UNITED KINGDOM - Major oil producers are expected to stick to their current output strategy or even slash production...
- In October the OPEC+ agreed to reduce output by two million barrels per day (bpd) from November.
- Since the October meeting, oil prices have been plummeting to their level of early 2022, far from the peaks above $130 a barrel in March
Business
Dubai records over $1.3 billion in weeklong real estate transactions
Dubai, UAE---A total of 1,600 real estate transactions worth over AED4.8 billion ($1.3 billion) were conducted during the week ending...
- The DLD said that the emirate saw the sale of 176 plots for AED998.19 million, as well as 1,052 apartments and villas for AED 2.32 billion.
- Jabal Ali First recorded the most transactions for this week with 81 sales worth AED285.43 million.
Business
Musk kicks Kanye West off Twitter for ‘incitement to violence’Â
West has made a series of anti-Semitic comments recently, as the one-time titan of fashion and music appears to have...
- Just clarifying that his account is being suspended for incitement to violence, not an unflattering pic of me, Musk said in response to West's tweet.
- West had shared a picture of a shirtless Musk getting sprayed with water, captioned: "Let's always remember this as my final tweet."
Business
US company turns air pollution into fuel, bottles and dresses
The concoction includes billions of hungry bacteria, specialized to feed on polluted air -- the first step in a recycling...
- LanzaTech, which employs about 200 people, compares its carbon recycling technology to a brewery
- To date, the company says it has kept 200,000 metric tons of carbon dioxide out of the atmosphere
Business
Doha Souq abandons tradition to become World Cup party base
Qatar is hosting the first World Cup in an Arab nation, but the hosts along with fellow Arab states Tunisia...
- The market where locals drink coffee, buy spices, Arab robes, gold jewellery has become popular with fans
- Crowds gather around a giant golden thumb sculpture in the market that has become a magnet for fans of winning teams
Stocks, oil slump as China retaliates and Trump digs in heels
Despite the market turmoil, Trump insisted: "my policies will never change". Wall Street stocks fell more than two percent at...
Business
Company News
Aramco, ENOWA ink pact
Business
RSG, KHC set up joint venture
Business
Latest News
Navigating the rising tide of cyber threats in GCC
"Critical infrastructure organizations are distinct from other enterprises; their downfall could bring entire sectors of the economy down with them....
Oil prices rise following Red Sea attacks
Oil prices shot up three percent as more companies suspended shipping through the Red Sea following attacks on vessels by...
Market Report
UAE issues federal decree on regulating electronic, digital media
ABU DHABI, UAE - The UAE Government has issued a federal decree which aims to regulate and organize media in...
Geostrategy
Most Read
Business
Japan’s Nippon to acquire US Steel
Nippon Steel will also assume the US firm's debt.
- Nippon Steel will acquire US Steel in an all-cash deal at $55 per share, a 40 percent premium above its closing price on December 15
- US Steel launched a strategic review in August after receiving several unsolicited offers for a partial or total takeover.
Business
Abu Dhabi fund CYVN invests $2.2bn in Nio
This follows an earlier investment of $738.5 million by CYVN in July.
- The investment for Nio, one of US-based Tesla's rivals in China, comes as the Shanghai-founded business remains largely loss-making.
- CYVN, an investment vehicle based in Abu Dhabi, had made an investment of $738.5 million by CYVN in July.
Geostrategy
Taiwan shipping giant Evergreen suspends Israel cargo services
Due to "escalation of war situation in recent days, Evergreen will temporary suspend Israel import and export service due to rising...
- Several of the world's largest shipping companies, including Maersk and Hapag-Lloyd, and energy giant BP have already suspended passage through the Red Sea.
- Yemeni rebels have said they were targeting vessels near the strait to pressure Israel over its devastating onslaught on Gaza.