Bitcoin falls below $80,000 first time since November amid market volatility
Hong Kong, China -- Bitcoin sank below $80,000 on Friday for the first time in more than three months as...
Business
Asian markets swing as traders assess latest tariffs volley
Asian markets were mixed Wednesday after President Donald Trump broadened his tariff threats, while traders were also assessing the geopolitical...
Business
By 2030, TAQA targets a 25% reduction in greenhouse gas emissions
The strategy includes the national low-carbon power and water champion’s interim greenhouse gas (GHG) emissions reduction goals.
- The strategy includes the national low-carbon power and water champion’s interim greenhouse gas (GHG) emissions reduction goals
- TAQA will focus on the decarbonisation power and water supply, electrification across sectors to support more efficient use of power and water
Business
Mubadala buys stake in EQT Infrastructure’s GlobalConnect
GlobalConnect is a fiber-based data center services provider.
- Headquartered in Stockholm, Sweden, GlobalConnect is a fiber-based data communication and data centre services provider.
- The company was created in 2019 through the combination of four independent fiber platforms in Denmark, Norway and Sweden.
Economy
Abu Dhabi’s Environment Agency holds training for industries
The Environment Agency - Abu Dhabi (EAD) organized two training workshops on the Green Industries environmental labeling program.
- The Green Industries program aims to recognize industrial facilities that adopt green processes and operations.
- The workshops, held digitally, were attended by over 135 industrial facilities from various sectors in Abu Dhabi.
Business
Aramco to sponsor major cricket tournaments, player-of-match awards
Saudi Aramco, one of the world's richest companies, will sponsor the International Cricket Council's upcoming men's and women's T20 World...
- Aramco, which scored record profits as oil prices surged following Russia's invasion of Ukraine, will also sponsor the World Test Championship final in Britain.
- No value was announced for the deal, which is the latest in a series of sports investments as Saudi Arabia tries to diversify its oil-dependent economy.
Business
QatarEnergy becomes 100 percent owner of Siraj Energy joint venture
QatarEnergy bought 49 percent of Qatar Electricity and Water Company’s share in Siraj Energy.
- Siraj Energy was established in 2017 to finance, build, operate, and maintain solar power facilities, and sell electricity generated from solar power, within Qatar.
- Â Siraj Energy has a 60 percent interest in Siraj (1) which owns and will operate Al-Kharsaa Solar Photovoltaic (PV) Independent Power Project.
Business
Dubai records real estate deals worth $571 million on Thursday
Dubai, UAE---Dubai real estate market recorded realty transactions worth AED2.1 billion ($571 million) on Thursday, Dubai Land Department said. The...
- The transactions included 401 sales deals worth AED1.69 billion, in addition to 77 mortgage deals of AED324.64 million.
- The sales included 373 villas and apartments worth AED687.26 million, and 28 land plots worth AED1 billion.
Business
Brazil judge fines Apple $20m over chargerless iPhones
The decision, which can be appealed, came after Brazil's justice ministry slapped a separate fine of nearly $2.5 million on...
- Apple stopped including outlet chargers with new iPhones in October 2020, saying it wanted to help reduce electronics waste
- The move effectively "requires consumers to purchase a second product in order for the first to work," Judge Caramuru Afonso Francisco wrote in his ruling.
Business
Meta working to speed up metaverse, but success far from certain
The biggest announcement from this week's Meta Connect event -- the company's giant's annual conference focused on virtual reality --...
- The analysts say the company has toned down the hype a bit as it struggles to reach its goal of creating an interactive virtual world
- The company said it is partnering with Microsoft, Adobe, Accenture and others to sync up popular work software with virtual worlds using Quest Pro
Business
Netflix to debut subscription with ads
After having shunned advertising since it started its streaming service, Netflix acquiesced as competition in the market intensifies and as...
- Netflix reported a loss of 970,000 subscribers in the second quarter along with stagnant profits
- The new "Basic with Ads" subscriptions will be priced at $6.99 in the United States, three dollars less than a no-ads basic option
Business
Lulu Group to list on Abu Dhabi Exchange in 2023
V Nandakumar stressed that the group’s listing is a major opportunity to contribute to the sustainable growth of the Emirati...
- V Nandakumar stressed that the group’s listing is a major opportunity to contribute to the sustainable growth of the Emirati economy
- A number of other firms are considering their IPOs on ADX and the Dubai Financial Market to build up resilience against international uncertainties
Bitcoin falls below $80,000 first time since November amid market volatility
Hong Kong, China -- Bitcoin sank below $80,000 on Friday for the first time in more than three months as...
Business
Company News
Birkenstock declares IPO prize
Business
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SVC inks pact with IMPACT46
Business
Fintech fuels growth in Islamic finance sector
Islamic banking, making up 70% of the Islamic finance market's assets, is undergoing a transformative phase, fueled by fintech innovations...
Business
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Business
ENOC and Neste sign MoU to drive sustainable aviation fuel initiatives
Dubai, UAE--ENOC Group has signed a memorandum of understanding (MoU) with Neste, the world's leading producer of sustainable aviation fuel...
- The partnership is the first step in ENOC’s plan to supply blended SAF to all its customers across its entire network by 2030
- The fuel taken from renewable raw materials has the potential to reduce air travel related carbon emissions by up to 80%
Business
UAE to pump CO2 into rock as carbon capture debate rages
Fujairah, UAE - High in remote mountains in the oil-rich Emirates, a new plant will soon take atmospheric CO2 and pump...
- The first CO2 injection is expected during COP28, and where the debate over hydrocarbons will be a key battle between campaigners and the oil lobby.
- Oil producers are throwing their weight behind carbon capture and storage (CCS) technology as a global warming solution despite criticism from climate experts.
Business
UAE presents its maritime contributions at IMO meet in UK
DUBAI, UAE - Presenting its category B candidacy in the International Maritime Organization (IMO) Council at the organization’s focus group...
- The UAE’s strategic location at the crossroads of global shipping routes has enabled it to become a central maritime hub in the world.
- The country has strived to achieve continuous development in the maritime industry, which is a key pillar of its national economy.