Tesla to unveil robotaxi in August
Its shares rose more than three percent in after-market trades.
Business
Al Seer buys two new ships
The firm, a subsidiary of IHC, acquired the vessels for AED246m.
- The company, which is pursuing an expansion strategy to become a major world leader in commercial shipping, is looking to buy up to 15 ships in 2022
- In its latest transaction, Al Seer Marine has purchased LPG tankers, MT Alcor and MT Alkaid, each with a capacity of 20,700 cubic meters
Business
Saudi football coach signs new deal after World Cup success
Saudi Arabia's coach Herve Renard has signed a new five-year deal after guiding the team to this year's World Cup...
- The Frenchman was shown signing a shirt with the number "2027" in a video posted by the official Twitter account of the Saudi national team
- Saudi Arabia reached their sixth World Cup and second in a row with room to spare after finishing top of their qualifying group ahead of Japan and Australia
Arts & Culture
Saudi Arabia launches 40% cash rebate for film productions
The program provides big support to local, regional and international film producers to shoot their works inside Saudi Arabia.
- The program provides big support to local, regional and international film producers to shoot their works inside Saudi Arabia
- The commission called on Saudi and international production companies that are planning to shoot in the oil-rich kingdom to apply for the incentive program
Business
Cloudflare of US sets up shop in Dubai Internet City
With the entry of Cloudflare, a top-rated American content delivery network, into its rapidly expanding zone, Dubai Internet City has...
- Cloudflare announced Dubai as its first office in the Middle East to support its growing EMEA operations
- In 2021, Dubai led the world in attracting foreign direct investment (FDI) with a record number of 418 greenfield FDI projects
Economy
Three Saudi ports make world records on CPPI 2021
The CPPI is an indicator produced by the Transport Global Practice of the World Bank.
- The CPPI is an indicator produced by the Transport Global Practice of the World Bank.
- The King Abdullah Port ranks first on the list of 370 global ports, while Jeddah Islamic Port ranks eighth
Economy
UAE to fund interest on home loans for its nationals
The UAE has decided to fund interest on home loans obtained by its nationals from banks "to ensure economic well-being...
- Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, has revealed that the UAE Cabinet has endorsed a new policy for UAE nationals home finance
- The minister made the remarks in a briefing organized by the Ministry of Energy and Infrastructure, represented by SZHP
Business
Only football fans with match tickets to enter Qatar
Qatar will only let football fans with match tickets enter the Gulf state during the World Cup tournament, officials said...
- Akbar Al Baker, who is also tourist minister, said Qatar's Hamad International Airport and the older Doha International Airport would double capacity
- Qataris and legal residents will also be able to enter but authorities have yet to announce how business people will be processed
Business
Qatar Airways, Airbus look to settle billion dollar paintwork battle out of court
Qatar Airways and Airbus both said they wanted to settle a bitter billion dollar dispute out of court after the...
- A London high court judge agreed Thursday to the airline's demand for a speeded up trial schedule
- Qatar Airways launched legal action last year seeking damages and a full inquiry into the defective surface
Business
Agreement signed for new payment channels and services on AjmanPay app
Ajman’s Department of Finance (DoF) signed a cooperation agreement with First Abu Dhabi Bank (FAB) and Magnati to support the...
- This agreement is in line with Ajman government’s strategy of fostering strategic partnerships between the public and private sectors.
- It also complies with DoF’s efforts to develop innovative financial services that offer customers the facility to save their financial data.
Business
UAE and India to expand ties in renewable power, sustainable finance
India was the second-largest trading partner of the UAE in 2021 as it accounted for 9 percent of the total...
- The UAE and India agreed to expand bilateral cooperation towards accelerated climate action and implementation of the Paris agreement.
- The UAE’s cooperation with India in the area of climate aims to support India’s ambition to achieve 450 gigawatts (GW) of renewable energy.
Company News
Latest News
Tech giants Foxconn, Nvidia announce they are building ‘AI factories’
The world's largest contract electronics maker, Foxconn -- officially known as Hon Hai Technology Group -- already plays a lynchpin...
Musk’s X starts charging new users for basic features in two countries
Tech billionaire Elon Musk, who bought Twitter last year for $44 billion, has long complained about fake accounts, bots and...
World must add or replace 80 million km of grids by 2040: IEA
Paris, France-- Achieving all national climate and energy goals will require adding or replacing 80 million kilometres of power lines...
Economy
Most Read
Business
Qatar signs 27-year gas deal with UK’s Shell
Last year Shell inked a deal with QatarEnergy for a 9.4% stake in Qatar's North Field South project, the second...
- Qatar will supply 3.5 million tons of gas a year under the deal, QatarEnergy said
- The gas-rich country is set to raise its output of liquified natural gas by 60 percent
Business
ADNOC Gas inks $500-700m LNG supply pact with JERA Global Markets
Abu Dhabi, UAE - ADNOC Gas on Wednesday announced a multi-year liquified natural gas (LNG) supply agreement, valued between $500...
- This agreement builds on the long-standing relationship between the UAE and Japan and reinforces ADNOC Gas’ position as a global LNG export partner of choice
- ADNOC’s LNG production facilities on Das Island supplied LNG to the Tokyo Electric Power Company, one of the parent companies of JERA Co, for over 40 years
Business
United Airlines Q3 profit up
The airlines' net income stood at US$1.1bn, up 20.7 percent.
- The airline warned its profits might be hit by rising fuel costs, and the prospect of a prolonged conflict in the Middle East.
- Its total operating revenues were $14.5 billion for the same period last year, up 12.5 percent, while capacity was up 15.7 percent