UAE stocks see US$1.7bn inflow, IHC, Emaar lead
ABU DHABI, UAE- The UAE stock markets attracted liquidity of nearly AED6.5 billion during the week's trading, with the focus...
Business
Britain expands investigation into Vodafone-Three UK merger
London, United Kingdom - Britain's competition regulator deepened Thursday its probe into Vodafone's planned merger of British mobile phone operations with...
Business
Arts & Culture
Solar ACs to help FIFA players, fans chill in Qatar
The state-of-the-art air conditioning will become the norm for mega sports events, says Saud Abdulaziz Abdul Ghani who worked for...
- The cooling system, being used in the Qatar's World Cup stadiums, is 40 percent more "sustainable" than existing techniques, say World Cup organizers
- The solar-powered cooling system will keep the players and turf healthy and even eliminate body odour in a packed stadium, says 'Dr Cool'
UAE tourism sector set new record in Q1 2022 : Tourism Minister
Tourism is deemed one of the future sectors and a key focus area in the UAE’s development vision for the...
- According to tourism figures for Q1 2022, the country's hotel establishments attracted nearly 6 million visitors
- The average duration of hotel guest stays reached 25 percent during the same period, up from 3 nights to 4 nights
Business
UAE and Turkey export credit agencies to enhance trade ties
Etihad Credit Insurance (ECI), the UAE Federal export credit company, has signed a Memorandum of Understanding (MoU) with Turkey’s export...
- The two export credit agencies will work together to facilitate trade and export and ease access to credit insurance and project financing, ECI said in a statement.
- Turkey is the UAE’s seventh-largest trading partner, with the non-oil trade between the two reaching AED 49.4 billion.
Business
Alpha Dhabi to invest $2.5 bn in Chimera
The fund will target investments in tech-enabled businesses.
- The investment comprises a capital contribution of AED2.6 billion and an undrawn capital commitment of AED6.6 billion.
- The fund's investment emphasis aligns with Alpha Dhabi's growth strategy, which focuses on investment in disruptive technologies.
Business
Etihad Rail signs expertise-exchange MoUs with Spanish, UK firms
Etihad Rail has signed three Memoranda of Understanding (MoUs) with Renfe, Spain’s national railway operator; High Speed 1, the first...
- The MoUs were signed during the second day of Middle East Rail 2022, which is hosted by Etihad Rail in partnership with the Ministry of Energy and Infrastructure.
- Middle East Rail is the largest transport event in the Middle East, North Africa and South Asia, will bring together leaders of the entire transportation community.
Business
UAE-Germany non-oil trade 10.5 percent to $9.5 billion in 2021
The non-oil trade between Germany and the UAE amounted to $9.5 billion during 2021, a 10.5 percent increase compared to...
- "Our economies are both very much geared for the possibilities of the future," Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade
- Al Zeyoudi said that Germany has become UAE's most important trading partner in the Middle East.
Business
Experts at GALF call for consolidating data to formulate policies
A panel deliberated on the advances in integrated, automated, electric mobility in the airport environment.
- A panel deliberated on the advances in integrated, automated, electric mobility in the airport environment
- The world’s largest airport industry B2B platform has a sharp focus on sustainability to help the aviation industry reduce carbon footprint year on year
TOP CEO 2022 Winners List: And the award goes to…
The most transparent and credible business awards in the Arabian Gulf celebrate leaders of the stock market-listed companies in the...
- The 6th edition of TOP CEO Conference and Awards ended on Wednesday evening with a promise to return in 2023
- The first day of the conference is branded as Arab Women Forum while the second day was more about hardcore business
Business
Delivery platforms run on woeful condition of riders
Riders of an online food ordering firm, who recently protested against unfair pay, allege that not only do they get...
- The riders complain that rising fuel prices and wider delivery areas have made their economic position unsustainable.
- Since they get paid by the number of deliveries, their lives are at risk as they are always on their toes to make more deliveries by the end of the day.
Economy
Record wheat prices a global worry, put poor countries at risk of poverty
Low rainfall or droughts in major producing countries were already causing worries before Russia's invasion of Ukraine in February sent...
- Ukraine struggles to sell and sow its wheat crops, putting consumers in poor countries at risk of poverty and famine.
- There are around 270 million tons of wheat in stock for a planet that consumes around 800 million a year. Around half are in China which has one year's consumption in reserve.
UAE stocks see US$1.7bn inflow, IHC, Emaar lead
ABU DHABI, UAE- The UAE stock markets attracted liquidity of nearly AED6.5 billion during the week's trading, with the focus...
Business
Company News
Adidas posts $92m Q2 profit
Business
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EIH buys stake in Gewan Holding
Business
Red Sea Global builds largest off-grid EV charging network in Saudi Arabia
RIYADH, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, Amaala...
Business
UAE invests $36bn in renewable energy projects in 2022, says ADDED Â chairman
ABU DHABI, UAE - Chairman of the Abu Dhabi Department of Economic Development (ADDED) Ahmed Jasim Al Zaabi has said...
Economy
OERC and Arkan partner to transport raw limestone to UAE
Abu Dhabi, UAE -- Oman and Etihad Rail Company (OERC), the developer and operator of the UAE-Oman Rail Network, signed...
Business
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Business
Al Seer Marine receives new very large gas carrier, fleet size rises to 20
ABU DHABI, UAE - Al Seer Marine, a subsidiary of Abu Dhabi-based International Holding Company, has announced the takeover of...
- This marks the second VLGC delivery under the US$134 million deal signed by ABGC DMCC, a JV between Al Seer Marine and BGN International.
- The VLGC North Gas, with a cargo capacity of 84,326 cubic meters, was built by Hyundai Heavy Industries and was handed over to ABGC DMCC in South Korea.
Business
Funds raised by startups within TECOM Group’s in5 hub up 20%
Dubai, UAE -- in5, part of TECOM Group and an innovation and entrepreneurship hub in the region, has witnessed a...
- In the first nine months of 2023, a total of 120 new ventures joined in5's portfolio, which amounts to a new start-up almost every other day between January and September 2023.
- Since its establishment in 2013, in5 has nurtured more than 850 start-ups, with representation from over 50 nationalities, including Canada, China, France, India and Russia.
Business
Tokyo shares tumble on concern war in Palestine may escalate
Chip-testing equipment maker Advantest sank 4.79 percent to 4,351 yen and chip-making equipment manufacturer Tokyo Electron gave up 3.84 percent...
- The benchmark Nikkei 225 index dropped 2.03 percent, or 656.96 points, to 31,659.03, while the broader Topix index slipped 1.53 percent, or 35.21 points, to 2,273.54
- Traders sold shares across the board, as Israel moved toward launching ground offensive in Hamas-controlled Gaza, which is already facing a deep humanitarian crisis