Abu Dhabi Chamber and UAEIIC team up to boost investment
Abu Dhabi, UAE--The Abu Dhabi Chamber of Commerce and Industry has signed an agreement with the UAE International Investors Council...
Business
Lapita sees surge in leisure and wedding bookings in 2023
Dubai, UAE--Lapita, Dubai Parks and Resorts, has reported a surge in demand, bookings from across leisure and corporate segment last...
Business
Economy
Number of UAE bank employees surged to 34,330 in H1 2022: CBUAE
In its June 2022 report, CBUAE noted that the number of employees in the country’s banking sector increased to 34,332...
- CBUAE report noted that the number of employees in the country’s banking sector increased to 34,332 during H1 2022
- A total of 27,545 employees work in national banks and 6,787 employees for foreign banks operating in the country
Business
Market cap of Egypt’s bourse vaults by US$2.7bn in August
In spite of monetary policy tightening, Egypt has seen the market capitalization of its stock exchange vault by $2.7 billion...
- The market capitalization of listed companies’ shares grew 8.2 percent in August to $35.63 billion from $32.91 billion by July end
- The total value traded during the month reached $5.2 billion, with a total of 6.6 million securities executed
Business
TAQA to buy AlMansoori
The Saudi firm will buy UAE company for an unknown sum.
- The buyout is part of company's plan to expand TAQA’s Well Services business into the wider Middle East and North Africa region
- AMPS will add complementary products and services to TAQA’s portfolio, including Early Production Facilities, Well Testing, Slickline, and Marine Stimulation Vessels
Business
Latest technologies glamorize Gulf cosmetic industry
The UAE leads the region with adoption of developed regulations as technologies such as AI and VR have revolutionized the...
- The UAE leads the region with adoption of developed regulations as technologies such as AI and VR have revolutionized the diagnostics and treatments in the aesthetic sector
- The global market for AI in beauty and cosmetics is expected to grow from its 2021 value of US$ 2.7 billion to a whopping US$ 13.34 billion by 2030, a healthy CAGR of 19.7%
Business
Aldar acquires Spark Security
Spark Security Services employs over 5,000 security professionals.
- Aldar said the all-cash $34m acquisition strengthens its property and integrated facilities management platform to deliver a broader offering to customers.
- Spark serves major organisations operating in a wide range of sectors, including infrastructure, banking, healthcare and hospitality.
Geostrategy
G7 to ‘urgently’ implement Russian oil price cap
G7 industrialized powers vowed Friday to "urgently" move towards implementing a price cap on Russian oil imports in a bid...
- Households in Europe have borne the brunt of rising energy prices, with governments under pressure to alleviate the pain of the resulting high inflation.
- Moscow would "simply not supply oil and petroleum products to companies or states that impose restrictions".
Geostrategy
Jordan PM refers to shared views in meeting with Kuwaiti minister
Prime Minister of Jordan Dr. Bisher Khasawneh met Kuwaiti Minister of Information and Culture Abdul Rahman Al-Mutairi, who is in...
- The Jordanian PM reiterated to the Kuwaiti minister the two countries’ shared views on Arab, regional and international issues.
- The Kuwaiti Minister is in Jordan to attend the 21st Amman International Book Fair.
Science
DEWA’s R&D Center registers patent for robotic carrier
Dubai Electricity and Water Authority (DEWA) 's Research and Development (R&D) Center has registered its sixth patent for a user-friendly...
- DEWA's robotic carrier can transport glass panels or sensitive materials that require close care.
- The robotic carrier can lift solar photovoltaic panels easily from any surface.
Business
Dubai records weeklong real estate transactions worth $2 billion
Dubai, UAE--Dubai's real estate market recorded a total of 2.593 transactions worth AED7.4 billion ($2 billion) during the week ending...
- The statistics showed that 320 plots were sold for AED1.75 billion, and 1,720 apartments and villas were sold for AED3.55 billion.
- The top three transactions were land in Saih Shuaib 3 that was sold for AED168 million, land for AED115 million in Island 2, and land sold for AED78 million Saih Shuaib 4.
Business
UAE Innovates Month: 19 Dubai Customs innovations win awards
Dubai, UAE--The number of innovations at Dubai Customs have been significantly increasing, as shown by the department's Innovation League, which...
- Nineteen of the innovations won team awards, three at the department level and one champion of the Innovation League.
- Innovation League is Innovation Centre's leading initiative to stimulate and encourage competition between departments and employees to develop more innovations.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Abu Dhabi Chamber and UAEIIC team up to boost investment
Abu Dhabi, UAE--The Abu Dhabi Chamber of Commerce and Industry has signed an agreement with the UAE International Investors Council...
Business
Company News
Mubadala, Petrobras sign MoU
Business
Emirates NBD invests in Komgo
Business
Latest News
American defense companies firm on attending Dubai Airshow
Washington DC, United States -- In spite of escalating instability in the Middle East, several American defense firms have reaffirmed...
Business
UAE ministry issues guidebooks on Emiratization for employers, employees
DUBAI, UAE - The Ministry of Human Resources and Emiratization (MoHRE) has launched awareness guidebooks for private sector companies and...
Business
Musk teases AI chatbot ‘Grok,’ with real-time access to X
The social network that Musk bought a year ago launched the Premium+ plan last week for $16 per month, with...
Business
Most Read
Business
UAE charges ahead in global electric vehicle readiness
The Gulf country's ascent to the top of regional EV preparedness rankings and seventh position globally marks a significant stride...
- The Gulf country's ascent to the top of regional EV preparedness rankings and seventh position globally marks a significant stride towards its 2050 carbon neutrality goals.
- With EV Green Charger initiative expanding the charging network and 82% of residents considering EVs for next vehicle, the nation is driving forward sustainable transportation.
Geostrategy
Don’t pause Mideast de-escalation over war, says UAE official
Dubai, UAE - Middle East powers should maintain their push to de-escalate the region through trade and economic ties despite the...
- According to UAE presidential adviser Anwar Gargash, countries should maintain that strategy even though the war is sending shockwaves through the region.
- "National actors are basically trying to use economics as a way to de-escalate tension," Gargash told the World Policy Conference in Abu Dhabi,
Business
QatarEnergy inks second 27-year gas supply deal with China’s Sinopec
DOHA, QATAR - Qatar has agreed to supply Sinopec with natural gas for 27 years, the Gulf emirate's state-owned energy company said...
- Doha will supply three million tonnes of gas a year to Sinopec under the deal.
- Asian countries led by China, Japan and South Korea are the main market for Qatar's gas.