A dirham and a dream: Matthews Southwest’s Jay French on future of UAE real estate
From an institutional investor-based viewpoint, it is becoming of interest more now than it ever has been. And that's a...
Interview
Samsung TV pioneer Han Jong-hee dies of heart attack at 63
Samsung Electronics co-CEO Han Jong-hee, credited with boosting the South Korean tech giant's television business on the global stage, died...
Business
UK probes Apple, Google over cloud gaming, browsers
Apple and Google "have an effective duopoly on mobile ecosystems that allows them to exercise a stranglehold over operating systems,...
- An overwhelming 97 percent of all mobile internet browsing in Britain took place using Apple or Google technology in 2021
- Many UK companies and web developers argue that the status quo is harming their businesses, holding back innovation and adding costs
Business
Tunisian village banks on cacti to bring in fortune
In a dry country where access to water is already far below the 1,700 cubic meters per resident per year...
- Used in moisturizing and anti-ageing products, the oil is a much-needed cash cow in a region where one third of people live in poverty
- The success of the prickly pear in Zelfen has prompted farmers in other regions such as Nabeul and Kairouan to take an interest
Business
Masdar to develop 100 megawatt solar plant in Turkmenistan
Abu Dhabi, UAE—Masdar will develop a 100 megawatt solar plant in Turkmenistan, the company's first such project in the country....
- In this regard, Masdar signed a joint development agreement (JDA) with Turkmenenergo State Power Corporation of the Ministry of Energy of Turkmenistan (Turkmenenergo)
- Turkmenistan is looking to modernise its energy infrastructure and reduce its dependence on hydrocarbons
Business
Saudi Aramco signs 59 procurement agreements under Iktva
Dhahran, Saudi Arabia-- Saudi Aramco Tuesday signed 59 corporate procurement agreements (CPAs) valued at $11 billion with 51 local and...
- Valued at $11 bn, the agreements were signed with 51 local and global manufacturers, with potential to create 5,000 new jobs in the kingdom over the next decade.
- They cover multiple strategic commodities, such as drilling chemicals, wellheads, switchgears, vibration monitoring systems, pipes and compressors.
Business
Dubai airport traffic returns to pre-pandemic levels: statement
Dubai, the world's busiest airport for international passengers before the Covid-19 pandemic, had 18,455,938 visitors in the three months to...
- Passenger forecasts have now been raised to 64.3 million for 2022 with "the prospects of a stronger surge in the offing" in the final quarter
- The airport had 46.3 million passengers from January to September, up 167.6 percent year-on-year
Business
ADIB Securities 9M trades $5.98bn
ADIB Securities is a Shari'a-compliant brokerage firm in the UAE.
- The Abu Dhabi-based brokerage reported a 149 percent increase in its Digital Trading platform utilization compared to the same period last year.
- The growth was largely driven by a strong increase in the number of transactions routed through the company's digital channels.
Business
LG Chem to build plant in US
The $3.2bn plant will make batteries for electric vehicles.
- LG Chem said the plant will be capable of producing 120,000 tonnes of cathodes a year by 2027, enough to power 1.2 million pure electric vehicles
- Cathode, a key component in rechargeable batteries, is made up of nickel, lithium and other materials, and comprises around 40 percent of the cost of electric vehicle batteries
Business
Leader of House of Commons urges Kuwaiti entrepreneurs to invest in UK
Kuwait City, Kuwait— Encouraging Kuwaiti entrepreneurs to make investments in the UK, Penny Mordaunt, Leader of the House of Common,...
- She said that she discussed with the prime minister the partnership that has existed for long years at the defense and cyber security levels
- Mordaunt added that her talks with the Kuwaiti officials during her visit addressed prospects of increasing cooperation in investments and the Kuwaiti businesses in her nation
Business
DMCC digitises gold trading through tokenisation of Comtech gold bullion
DMCC Tradeflow is an online platform for registering the ownership of commodities stored in UAE facilities.
- DMCC Tradeflow is an online platform for registering the ownership of commodities stored in UAE facilities
- The partnership with Comtech Gold adds to Tradeflow’s list of Shariah compliant products, given that the tokens are backed by physical assets
Business
UAE approves law to link up renewable energy units with electrical grid
Abu Dhabi, UAE— The UAE's Ministry of Energy and Infrastructure has announced the approval of the federal law regulating the...
- The new law aims to enable the production of electricity from renewable sources and achieve the UAE's objectives in terms of diversifying renewable energy sources
- The UAE has made large investments over the last several years to develop renewable sources of energy
A dirham and a dream: Matthews Southwest’s Jay French on future of UAE real estate
From an institutional investor-based viewpoint, it is becoming of interest more now than it ever has been. And that's a...
Interview
Company News
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EU seeks critical details from Apple and Google on digital safety
Brussels, Belgium - The EU demanded on Thursday that Apple and Google provide more details on how they identified risks concerning...
Business
Tabreed gets US$163m Green Revolving Credit Facility
ABU DHABI, UAE - Â Tabreed on Thursday announced the successful closure of its inaugural US$163 million (AED600 million) Green Revolving...
Business
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Business
UAB concludes $200m term loan
Proceeds of the facility will be used for general corporate purposes.
- The dual tranche borrowing comprises a conventional tranche and a commodity Murabaha financing facility has been concluded at competitive pricing.
- The facility also includes a green-shoe option to increase the size up to AED 1.3 billion. Proceeds of the facility will be used for general corporate purposes.
Economy
Mawani gets 79.01 points in UNCTAD’s Liner Shipping Connectivity Index for Q4 2023
RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) attained its highest improvement in the UNCTAD's Liner Shipping Connectivity Index...
- This development aligns with the objectives of the National Transport and Logistics Strategy (NTLS).
- This achievement adds to the recent major records, including a score of 77.66 during Q3.
Business
MBC IPO retail subscription begins
MBC Group runs a group of TV and radio channels.
- The subscription process for the retail tranche of MBC Group will run for five days until December 18.
- The Capital Market Authority approved, on November 21, the company's request to float 33.25 million shares in an IPO.