Tehran, Baghdad to launch maritime passenger transport line
TEHRAN, IRAN – Iran and Iraq will launch the first maritime passenger transport line within the next two months, an...
Geostrategy
Business
ACWA, OQ, Air Products sign pact
A green hydrogen-based ammonia production facility will be built in Oman.
- The Joint Development Agreement signing follows a memorandum of understanding signed in December 2021.
- The firms said in a statement that the project would be based on integration of renewable power from solar, wind and storage.
Business
ENBD REIT rental income down 19.7 percent
Occupancy of its portfolio up 80 percent in the year ending 31 March 2022.
- The firm's property portfolio value stood at $356 million, down 1.1 percent year-on-year whilst Net Asset Value was $167 million.
- The firm has proposed a final dividend of $5 million or $0.02 per share for the six-month period ending 31st March 2022, a 13.6 percent increase from the same period of 2021.
Business
April Dubai real estate sales highest monthly on record in 10 years
Dubai real estate market recorded 445 sales transactions worth AED 1.06 billion and 76 mortgage deals of AED 1.09 billion...
- On Wednesday, real estate market recorded 445 sales transactions worth AED 1.06 billion and 76 mortgage deals of AED 1.09 billion.
- In April, the market recorded 6,983 sales transactions, an increase of 45.5 percent over April 2021.
Business
UAE and China to set up New Energy Vehicle Project
Emirates Transport (ET) and China's NEV Investment LLC have teamed up to develop New Energy Vehicle Project in the UAE.
- The joint venture represents a milestone in the efforts aimed at accelerating the New Energy Vehicles Project in the UAE
- EVIS is considered a launchpad for NEV Investment and potential Chinese New Energy Vehicles which can be introduced to the UAE
Science
Boeing Starliner completes key test mission to ISS
Astronauts living aboard the station opened the hatch and "greeted" the capsule's passengers: Rosie the Rocketeer, a mannequin equipped with...
- The gumdrop-shaped spaceship landed in a puff of sand at 4:49 pm local time (2249 GMT) in the New Mexico desert
- Orbital Flight Test-2 (OFT-2) was the last hurdle for Starliner to clear before it carries humans in another test flight due to take place by the end of this year
Business
Iraqi boy evades security, boards Iran-bound plane
Iraqi aviation authorities have been left red-faced after a 10-year-old boy on his own boarded an Iran-bound plane from a...
- The international airport in Najaf, south of Baghdad, said Wednesday it would review security after the boy passed under the radar of seven checks
- Iraq’s civil aviation authority said a private firm had since 2019 been in charge of security at Najaf airport, which receives hundreds of thousands of pilgrims a year
Economy
Greece will send Iranian oil from seized ship to US: police
Greece will send Iranian oil from a seized Russian-flagged tanker to the United States at the request of the US...
- Authorities that seized oil didn't provide any details about how it would be transferred to the US
- Tehran protested against Greece and called it "international robbery"
Business
Filing says Elon Musk to borrow less for Twitter bid
Elon Musk notified US regulators on Wednesday that he will rely less on loans in his bid to buy Twitter,...
- The Tesla chief said in a filing with the US Securities and Exchange Commission that he would seek $13 billion in loans for the Twitter buy
- Analysts were concerned about Musk using billions of dollars worth of his Tesla shares to back loans
Business
Tokyo shares climb up after Wall Street gains
Tokyo stocks opened higher on Thursday following gains on Wall Street, despite ongoing worries over inflationary pressure due to the...
- The benchmark Nikkei 225 index added 0.14 percent or 36.94 points to 26,714.74, while the broader Topix index rose 0.45 percent, or 8.43 points, to 1,885.01
- Market players are now eyeing the release of US GDP data later in the day, said Stephen Innes of SPI Asset Management
Business
Spiralling inflation spurs GCC gold demand
Gold consumption in the GCC region reached 47 tons in the first quarter of 2022, up 18 percent from the...
- Gold consumption in the GCC region reached 47 tons in Q1 2022, up 18 percent from the prior year
- UAE consumption reached 12.50 tons in Q1 2022, an increase of 50 percent from the previous year
Tehran, Baghdad to launch maritime passenger transport line
TEHRAN, IRAN – Iran and Iraq will launch the first maritime passenger transport line within the next two months, an...
Geostrategy
Company News
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Sipchem 9M net profit down 67%
There was a 70% QoQ drop in net profit for the third quarter of 2023.
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...
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...
Business
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Business
Masdar City and Huawei sign MoU to power UAE’s transition to net zero
Dubai, UAE--Masdar City and Huawei have signed a memorandum of understanding (MoU) to enable the UAE to power its way...
- The agreement will enable capacity-building in net-zero development, help reduce the carbon footprint of Masdar City’s information and communications technology infrastructure
- The net zero framework will encourage organisations to reduce the energy demand of information and communications technology systems and operations while switching to clean energy
Business
Moro Hub and DDA sign MoU to safeguard Dubai’s information assets
Dubai, UAE--Moro Hub, the digital arm of DEWA, has signed a memorandum of understanding (MoU) with Digital Dubai Authority (DDA)...
- According to the terms of the agreement, Moro Hub will extend its cyber security services to safeguard Dubai's government entities' information assets and systems
- The collaboration between Moro Hub and DDA will play a pivotal role in ensuring that Dubai remains at the forefront of secure and sustainable smart city initiatives
Business
Emirati investments in Turkey reach $5.6 billion in 2022
ABU DHABI, UAE – Ahmet Burak Daglioglu, Head of the Investment Office of the Turkish Presidency, said that the cumulative...
- UAE currently stands as Turkey's 13th largest trade partner for exports and the 15th largest for imports.
- From 2014 to 2022, the total foreign direct investment from Turkey to the UAE amounted to approximately $1.1 billion