Cryptocurrency Ether witnesses meteoric rise since launch
NEW YORK, US – Bitcoin has captured the limelight in recent weeks as it surged to a new record high, yet...
Business
DIB logs 15% net profit growth
Business
EasyLease revenue grows by 37.5%
Business
Business
Energy, technology and finance lead Gulf IPOs
Energy, utilities and natural resources account for 42% of the total IPO proceeds, TMT 27% and financial services 21%, Odin...
- Overall, equities in GCC capital markets performed well, with deal volume and valuation up 369 percent in 2021 compared to 2020, bringing in $7.7 billion in new money.
- Energy, Utilities and Natural Resources accounted for 42 percent of the total IPO proceeds, TMT 27 percent and financial services 21 percent.
Business
ADNOC partners with BP, Masdar
The three firms will create green hydrogen and sustainable aviation fuel.
- ADNOC and BP will begin the design phase of the H2Teesside low-carbon hydrogen project.
- Cooperation agreements related to BP's HyGreen Teesside, a large-scale green hydrogen production facility in UK.
Business
UAE firm inks airport deal as Afghanistan eyes international flights
A United Arab Emirates company signed a contract with the Taliban authorities Tuesday to provide ground handling services at Afghanistan's...
- UAE firm GAAC, which was previously operating in Afghanistan, signed a new 18-month contract covering three airports: Kabul, Kandahar and Herat.
- GAAC has provided ground handling services at Kabul airport since November 2020, and played a key role in rehabilitating the facility in August.
Business
Standard Chartered, flydubai sign deal
The Sale and Leaseback (SLB) agreement is for five new Boeing 737 MAX aircraft.
- Four of the aircraft were delivered between March and May 2022, while the remaining aircraft is scheduled to arrive from Boeing before the end of the first half of the year.
- The deal was structured, financed and arranged exclusively by Standard Chartered.
Business
Dubai records $386 million in real estate transactions on Monday
Dubai real estate market recorded 552 sales transactions worth AED 1.42 billion ($386 million) and 78 mortgage deals of AED...
- The sales included 427 villas and apartments worth AED 878.57 million, and 125 land plots worth AED 540.79 million.
- The emirate's real estate market recorded the highest number of transactions since 2010 registered in a single quarter and the highest volume since Q1 2014.
Economy
To use rather than collect, the second coming of Non-Fungible Tokens
The non-fungible token (NFT) craze, just over a year old, has given the world works that have sold for millions...
- Tens of billions of dollars have been poured into digital assets market, while also provoking discussions about how they could be useful in the real world.
- Regardless, NFTs, in conjunction with growing interest in the metaverse and a decentralized vision for the internet's future, dubbed web3, are part of building wave of growth.
Business
SRTI Park launches Advanced Industry Accelerator 2.0
The accelerator programme will provided local and regional start-ups with innovative solutions and strong support system within the thriving SRTI...
- The accelerator programme will provided local and regional start-ups with innovative solutions and strong support system within the thriving SRTI Park ecosystem
- SAIA 2.0 is also in line with the UAE’s industrial strategy 'Operation 300bn', a 10-year comprehensive policy aimed at empowering and expanding the industrial sector
Business
Expo Centre Sharjah plans to boost exhibition sector in eastern region
During a recent meeting at Expo Khor Fakkan, the Expo Centre Sharjah reviewed its strategic plans to organise a series...
- During a recent meeting at Expo Khor Fakkan, the Expo Centre Sharjah reviewed its strategic plans to organise a series of specialised events over the coming months
- The meeting also discussed future development plans and strategies, as well as the events and exhibitions that would be organised and held in 2023
Business
TikTok lets creators charge monthly subscriptions
TikTok on Monday said it will start letting some popular accounts at the video-snippet streaming star charge subscriptions for live...
- "LIVE Subscription is an extension of our efforts to build diversified creator monetization opportunities that suit a range of creator needs," TikTok said in a blog post
- TikTok said the subscription feature being introduced this week will only be available to creators by invitation for now
Business
‘Digitization transforming Islamic banking in GCC’
The use of CX capabilities, digital media, predictive analytics can help banks develop personalized Shariah-compliant services, says Dubai Islamic Bank...
- The use of CX capabilities, digital media, and predictive insights and analytics can help banks develop personalized Shariah-compliant services, says Group CEO Dubai Islamic Bank
- Islamic banks partnering across the digital economy through open banking can widen choice by creating new and incredibly exciting financial and non-financial services, he adds
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Cryptocurrency Ether witnesses meteoric rise since launch
NEW YORK, US – Bitcoin has captured the limelight in recent weeks as it surged to a new record high, yet...
Business
Company News
DIB logs 15% net profit growth
Business
EasyLease revenue grows by 37.5%
Business
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Aston Martin H1 revenue up
Business
Qatar begins construction on North Field gas expansion
RAS LAFFAN, QATAR - Qatar's state-owned energy giant began construction on Tuesday on a project to expand production from the world's...
Geostrategy
Saudi Cruise signs pacts with leading firms
The agreements are aimed at boosting investment in Aroya Cruise.
Business
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Business
South Korean firms eyeing expansion in UAE’s oil and gas sector
Abu Dhabi, UAE -- Top executives from South Korean companies have affirmed that numerous firms are actively looking to expand...
- Top executives told WAM that UAE has made significant strides in energy transformation in recent years and continues its relentless efforts to address the climate change fallout.
- Kyle Moon, Deputy General Manager of Daeha company said ADIPEC enhances collaboration opportunities among policymakers and decision-makers.
Business
Ford lays off 300 US workers
The workers were asked not to report to work due to the strike.
- The strike against the "Big Three" car manufacturers -- Ford, Stellantis and General Motors -- began on September 15 when a previous contract expired without a replacement
- Instead of calling for all of its 146,000 members to strike at once, the UAW union has deployed a targeted approach, adding more sites as the weeks drag on
Business
Global energy demand to rise 25% by 2045: OPEC chief
Abu Dhabi, UAE - Global demand for all forms of energy is forecast to rise by 25% through 2045, according...
- No single energy source can meet the world's growing needs as the economy expands and the population increases, Al Ghais said
- He added that despite some setbacks, global growth continues, and he was optimistic about future oil demand