Wheels in motion for investors as two Gulf carriers plan 2025 IPOs Â
UAE's Etihad Airways and Saudi Arabia's Flynas are preparing to listing on local stock markets, the first IPO by Gulf...
Davos2025: 33 industrial clusters from 16 countries commit to economic growth, jobs creation and emissions cuts
The Transitioning Industrial Clusters initiative aims to improve collaboration and develop a shared vision among co-located companies and public institutions,...
Economy
Economy
ADJD notarization, authentication transactions jump in August
The Abu Dhabi Judicial Department (ADJD) has achieved a record surge in total notarization and authentication transactions carried out in...
- There were 13,000 notarization and authentication transactions operations in August.
- The availability of multiple electronic options for submitting and completing transactions remotely helped in the increase.
Geostrategy
UAE takes part in G20 Health Working Group in Indonesia
UAE's Ministry of Health and Prevention (MoHAP) has taken part in the G20 Health Working Group (HWG3) meeting in Indonesia...
- The UAE ministry's delegation highlighted the importance of promoting solidarity among member states to better meet essential health needs.
- The delegation said UAE is ready to cooperate with Indonesian officials to expand vaccine manufacturing and research hubs for pandemic prevention.
Business
Sixteen European news agencies launch joint Brussels newsroom
The 16 agencies --Â dpa, AFP, AGERPRES, ANSA, APA, ATA, Belga, BTA, EFE, Europa Press, FENA, HINA, MIA, STA, Tanjug and...
- The hope is that by working more as a network, the agencies' pooled resources will provide a deeper understanding of European news to readers in their home national markets.
- Journalists from the smaller European agencies will share workspaces in Belga's Brussels headquarters and offices near EU headquarters, as well as training opportunities.
Business
Mubadala Petroleum rebranded
The company achieved the 500,000-boed milestone this year.
- In 2017, Mubadala Energy shifted its strategy to natural gas, a transition that saw the company realize key projects.
- Other major gas projects include Mubadala Energy's operated Pegaga gas field in Malaysia.
Business
Lufthansa pilots to strike again, escalating wage dispute
A week after the airline was forced to cancel all flights due to a pilots’ walk-out on Friday, affecting 130,000...
- The pilot union is seeking a 5.5 percent wage increase by the end of the year, automatic compensation for inflation and adjustments on its salary grid
- Lufthansa has said the entire package sought by Cockpit would raise pilot personnel costs by 40 percent or $900 million
Business
Tabby launches in Egypt
The shopping app looks to widen its market in MENA.
- Tabby works with multiple brands to offer flexible payments at checkout
- It is currently ranked among the top 10 shopping apps in the Middle East with more than 2 million active shoppers
Business
Porsche to enter stock market before the end of 2022: VW
The auto giant officially signalled its intention to go ahead with the IPO on February 24, the day that Russia...
- The luxury brand continues to attract the attention of investors, who value Porsche between 60 and 85 billion euros
- Suitors including the Qatari sovereign wealth fund and luxury brands group LVMH have registered an interest in the high-end carmaker
Business
US says oil supply must shore up growth after OPEC+ cut
In a thinly veiled criticism of the OPEC's decision to cut supply, the US said that oil production must be...
- The United States had pressed OPEC+ to increase output to bring down energy prices that have fueled decades-high inflation
- The G7 group of industrialized powers, in a bid to curb Moscow's funding of its war in Ukraine, agreed Friday to move towards capping the price of Russian oil
Business
DMCC puts on display world’s largest pink diamonds at DDE
DMCC has hosted the unveiling of one of the world’s largest internally flawless fancy vivid pink diamonds – the "Williamson...
- The 11.15 carat flawless pink diamond started its roadshow in Dubai, one of the world’s leading diamond trade hubs
- Expected to fetch over US$21 million, the Williamson Pink Star diamond has the potential to set a new price per carat record given its incredible purity
Business
Despite sanctions, Russia energy exports vault to US$158bn
In spite of the Western sanctions, Russia has raked in some $158 billion in energy exports in the six months...
- While the EU has stopped purchases of Russian coal, it is only progressively banning Russian oil and it has not adopted any limits on the imports of natural gas
- The G7 countries, meanwhile, vowed Friday to push forward urgently to impose a price cap on Russian crude, a move that would deprive Russia of much of the revenue
Wheels in motion for investors as two Gulf carriers plan 2025 IPOs Â
UAE's Etihad Airways and Saudi Arabia's Flynas are preparing to listing on local stock markets, the first IPO by Gulf...
Company News
Latest News
US chip curbs disturb Chinese firms AI projects
Shanghai, China - US restrictions on advanced computer chips are forcing China's tech giants to rethink their ambitious AI-powered projects, analysts...
Business
NBM’s board approves increasing Murabaha sukuk issue to $133m
RIYADH, SAUDI ARABIA - National Building and Marketing Co’s (NBM) board of directors approved an increase of Murabaha SAR-denominated sukuk...
Business
ADSB to make two vessels for ADNOC Logistics & Services
ABU DHABI, UAE - Abu Dhabi Ship Building (ADSB) announced that it is building two 28-meter vessels for ADNOC Logistics...
Business
Most Read
Business
EPI to make assembly parts for Raytheon
EPI is part of the Platforms Systems cluster within EDGE.
- EPI will supply prototype quantities of machined aluminium and assembly parts for the Coyote® Counter-UAS interceptor.
- The agreement supports the 'Make it in the Emirates' initiative, a comprehensive plan for developing the UAE's industrial sector.
Business
PIF seeks to increase stake in Egypt’s e-Finance by 2 percent
Riyadh, Saudi Arabia -- Ibrahim Sarhan, the Chairman and Managing Director of e-Finance for Digital & Financial Investments based in...
- This move comes after PIF's recent buy orders for the stake purchase, indicating the fund's confidence in e-Finance and its favorable financial results, Argaam reported.
- e-Finance expanded its operations by opening an office in Saudi Arabia this month, securing essential licenses with the support of PIF as a major shareholder.
IBM pulls ads from Elon Musk’s X over pro-Nazi posts
In the year since taking over Twitter, now rebranded as X, Musk has gutted content moderation, restored accounts of previously...
- The move came as X owner Elon Musk faced criticism for endorsing an unfounded antisemitic conspiracy theory on the service
- Nonprofit Media Matters reported that it found Apple, Oracle and IBM ads displayed next to posts touting Hitler and the Nazi Party on X