UAE non-oil foreign trade up by 14.6% in 2024 to reach $816bn
Abu Dhabi, UAE -- UAE's non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching...
Business
Norway nears 100% goal of all-electric cars
By comparison, the share of electric cars in Europe was just 13.6 percent in the full-year 2024, a decline for...
Geostrategy
Business
Aramco says global energy transition goals unrealistic
Oil giant Saudi Aramco's chief blasted "unrealistic" energy transition plans, calling for a "new global energy consensus", including ramped-up investments...
- Aramco unveiled record profits of US$48.4 billion in Q2 of 2022 after Russia's invasion of Ukraine and a post-pandemic surge in demand sent crude prices soaring.
- One of the reasons for energy crisis is declining oil and gas investments, the Aramco chief said.
Business
Dubai realty market records realty deals worth $435m Tuesday
Dubai, UAE--- Dubai real estate market recorded realty deals worth AED 1.6 billion ($435 million) on Tuesday, according to Dubai...
- These included 439 sales transactions worth AED1.25 billion, in addition to 66 mortgage deals of AED240.64 million, and 72 gift deals amounting to AED175.81 million.
- On Monday the market recorded 392 sales transactions worth AED900.8 million, in addition to 84 mortgage deals of AED741.14 million.
Business
DEWA, Desolenator ink pact
Dutch firm will provide water desalination technology
- The innovative design is intended to be 100 percent reliant on solar energy.
- As per the agreement, a pilot water desalination plant has been installed at the Jebel Ali Power Plant and Desalination Complex.
Economy
‘Standardization key to enhancing quality of local products’
UAE Minister of Industry and Advanced Technology (MoIAT) Dr. Sultan bin Ahmed Al Jaber said that hosting the International Organization...
- The UAE minister said the ISO annual meeting is in tune with MoIAT's efforts to benefit from international expertise.
- Sultan Al Jaber added that such events showcase the UAE's quality infrastructure and deepen partnerships with relevant national and global entities.
Business
Mubadala discovers gas reservoir offshore Malaysia
Abu Dhabi, UAE---Mubadala Energy has discovered a good quality gas reservoir penetrated by the Cengkih-1 exploration well in Block SK320,...
- The company said preliminary analysis shows a significant gas column of more than 110 metres within the pinnacle carbonate reef reservoir.
- Mubadala Energy is the Operator of Block SK320, with 55 percent participating interest in the Production Sharing Contract.
Science
Elon Musk intends to bring satellite internet to Iran
Musk had initially announced that the Starlink satellite internet service had been made available on every continent "including Antarctica" with...
- Iranian-born science journalist Erfan Kasraie had said on Twitter that bringing the service to Iran could be a "real game changer for the future" of the country
- Launched at the end of 2020, Starlink offers high-speed broadband service to customers in areas poorly served by fixed and mobile terrestrial networks
Business
Al Sagr, Gulf Union may merge
The two insurance firms will have discussions on the merger.
- After the proposed merger is completed, Gulf Union Alahlia will issue new shares to Al Sagr Insurance shareholders in exchange for all issued shares of Al Sagr
- After the two will have conducted all necessary due diligence, Gulf Union Alahlia and Al Sagr will determine the share-for-share exchange ratio
Videos
Abu Dhabi leads GCC in integrated waste management
Abu Dhabi Waste Management Centre, aka Tadweer, processed more than 1,860,000 tons of waste, including 88,382 tons of medical and...
- Abu Dhabi Waste Management Centre, aka Tadweer, processed more than 1,860,000 tons of waste, including 88,382 tons of medical and hazardous waste during the first half of 2022
- During the first half of 2022, Tadweer successfully diverted 34% of all waste in Abu Dhabi away from landfills, and diverted 50% of waste resulting from demolition and construction
Business
QIB partners with Loop
They will promote eco-friendly alternative to personal cars.
- The agreement is in line with QIB’s sustainability principles for urban mobility and encourages the public to reduce carbon footprint to mitigate the effects of climate change
- Loop Mobility is a start-up transforming operations with a revolutionary e-scooter model and supporting national efforts towards building a more sustainable future
Business
Innovations keep manufacturers going in Middle East
More organizations in the region are trying to turn their current challenges into advantages through innovations and by improving skills...
- More organizations in the region are trying to turn their current challenges into advantages through innovations and by improving skills to collaborate with suppliers and allies
- Manufacturers who recognize and harness the sector's challenges and trends will be better positioned to capitalize on new opportunities
UAE non-oil foreign trade up by 14.6% in 2024 to reach $816bn
Abu Dhabi, UAE -- UAE's non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching...
Business
Company News
Latest News
From Changpeng Zhao to Do Kwon: The fallen kings of crypto
Seoul, South Korea - Binance boss Changpeng Zhao has become the most powerful cryptocurrency figure to fall in a two-year period...
Business
Does Anghami and OSN+ collab make financial sense?
A first of its kind in the region, the combination will offer consumers digital services of the best and latest...
Business
43% people in Saudi likely to make more cross-border payments in 2023
Riyadh, Saudi Arabia -- Nearly 43 percent of people in Saudi Arabia expect to send cross-border payments more frequently in...
Business
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Geostrategy
Iran and Russia to speed up railway project along Caspian Sea
Tehran, Iran--Iran will begin construction work on joint railway projects with Russia as part of the International North-South Transport Corridor...
- The two countries consider the 162 km railway line along the Caspian Sea shoreline as a crucial component of the International North-South Transport Corridor
- The Iranian first vice president said the design proposals and contracts for the Astara-Bandar Abbas railway have also been reviewed by both the Islamic republic of Iran and Russia
Business
UAE owns 40% of aircraft fleet in Arab region, says ACAO official
Dubai, UAE -- The United Arab Emirates (UAE) holds nearly 40 percent of the aircraft fleet in the Arab region,...
- UAE's aviation sector enjoys global confidence regionally and internationally, competing with major airlines in Europe and North America, said Abdennabi Manar.
- Manar anticipated that the UAE aviation sector would continue its upward growth trajectory, aligning with the substantial growth witnessed in the Arab aviation sector.
Business
European banks lack transparency on green finance: NGO
ShareAction said banks amplify "green credentials to their customers and shareholders" but there is a "structural" lack of transparency on...
- Only four banks have demonstrated how they have calculated green finance targets
- The study questioned some decisions being counted towards meeting green finance targets