SeaWorld Yas Island, Abu Dhabi wins Guinness World Records
ABU DHABI, UAE – SeaWorld Yas Island - the region’s first Marine Life Theme Park here -, has won a...
Arts & Culture
Alibaba Cloud opens training center in Dubai
It will be a hub for customers to lift up "digital competence."
Business
Business
UAE accounts for 77% of GCC investments in Latin America over 2016-2021
Saudi Arabia accounted for 22 percent of GCC investments to Latin America during 2016-2021, followed by Qatar with 1 percent.
- Saudi Arabia accounted for 22 percent of GCC investments to Latin America during 2016-2021, followed by Qatar with 1 percent
- The report, titled Cultivating Ties: Deepening trade and investment between Latin America and the GCC, was issued ahead of the Global Business Forum Latin America 2022
Business
Pandemic aided digital adoption by UAE businesses: PayPal survey
Survey analyses the impact of COVID-19 on small businesses, the key verticals of growth and the growing acceptance of digital...
- Survey analyses the impact of COVID-19 on small businesses, the key verticals of growth and the growing acceptance of digital payments
- With adoption of digitalization, 41 percent of the respondents have seen increased purchases through social media channels
Business
Sustainability key challenge for UAE realty players
It is hard to balance sustainable developments and what people want in the market, especially when it comes to pricing,...
- Designing a building, putting up construction plans in terms of materials until the demolition are responsibilities of a sustainable property developer
- The real estate market in Dubai had a 65 percent increase in the number of transactions and a 71 percent increase in value in 2021.
alfanar invests $1.3bn in UK
The money will go in producing aviation fuel from waste.
- The Lighthouse Green Fuel project generates more than 180 million liters of sustainable aviation fuel annually in the UK
- This amount of sustainable aviation fuel is sufficient to power 15,000 flights per year, reducing harmful carbon emissions from conventional fuels by over 700,000 tons annually
Business
Dubai SMEs bag contracts worth $250m under procurement program
Emirati entrepreneurs and national enterprises in Dubai won contracts worth AED 921.6 million ($250 million) from various local and federal...
- Since 2002, GPP has facilitated contracts worth over AED 8.4 billion for Dubai SME members from 69 supporting entities across the government, semi-government and private sectors.
- Expo 2020 Dubai topped the list of local government support agencies of GPP last year with contracts worth AED 161.7 million.
Business
Egypt hosts UAE and Israel leaders for three-way talks
Egypt hosted the Israeli and UAE leaders for unprecedented three-way talks Tuesday as the Ukraine war rocks energy and food...
- The meeting, which took place in the Red Sea resort of Sharm el-Sheikh, included discussions on "energy, market stability, and food security"
- The first three-way summit of its kind comes at a crucial time for the Middle East after Russia's invasion of Ukraine sparked concerns about stability and sent commodity prices up
Business
Vietnam experts see Middle East as promising market for country’s exporters
Vietnam has signed economic, trade and scientific-technological cooperation agreements with five GCC countries.
- Vietnam has mostly traded with six member nations of the Gulf Cooperation Council in the Middle East region.
- Trade between Vietnam and the GCC countries has surged from US$2.7 billion in 2012 to US$12.5 billion in 2021.
Business
Tabreed to pay highest ever dividend
The payout will be in the form of cash and bonus shares.
- The firm said the shareholders will get a cash dividend of six fils per share and a bonus of one share for every 40 shares held, which is equivalent to 12 fils per share.
- Last year, group revenue increased by 12 percent to 1.95 billion dirhams ($530 million), while net income grew 6.3 percent to 585 million dirhams.
Business
Libya restarts domestic flights after two-week shutdown
Libyan authorities reopened the war-torn country's skies for domestic flights on Tuesday, an aviation official said, two weeks after they...
- Flights between Mitiga and other Libyan airports had been suspended since March 7, after the country's eastern-based parliament appointed a rival government
- The United Nations and Western officials had called repeatedly for the airspace to be reopened
Business
Tesla to open Berlin factory
Elon Musk to hand over first 'made in Germany' Model Y car.
- The electric car maker will inaugurate its new "gigafactory" near Berlin an arduous two-year approval and construction process.
- Tesla aims to eventually employ some 12,000 workers at the site who will churn out around 500,000 Model Y cars annually.
SeaWorld Yas Island, Abu Dhabi wins Guinness World Records
ABU DHABI, UAE – SeaWorld Yas Island - the region’s first Marine Life Theme Park here -, has won a...
Arts & Culture
Company News
IDB inks pact with IRENA
Business
Ethmar net profit up $114m
Business
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Israel sells Arrow 3 missile defense system to Germany for US$3.5bn
TEL AVIV, ISRAEL - Israel's US$3.5-billion sale of its Arrow 3 missile defense system to Germany, sparked by security fears after...
Geostrategy
UAE markets top Arab stock exchanges in trading, says AMF
ABU DHABI, UAE - The financial markets of the United Arab Emirates topped the Arab stock exchanges during last week's...
Market Report
Red Sea Global teams up with Bear Grylls Survival Academy
Riyadh, Saudi Arabia--Red Sea Global (RSG) will become the exclusive agent for Bear Grylls Survival Academy (BGSA) bringing the world-famous...
Business
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Business
Oil prices climb up to highest level in a year
The jump in oil prices came in the wake of a a surprising drop in US crude inventories. Oil prices...
- The increase in crude prices was seen by analysts as a drag on US equities, which opened higher, but finished mixed
- The dollar added to gains seen as higher US bond yields make the greenback more attractive as a haven
Meta putting AI in smart glasses, assistants and more
Zuckerberg made his announcements at the Connect developers conference at Meta's headquarters in Silicon Valley, the company's main annual product...
- The second-generation Meta Ray-Ban smart glasses made in a partnership with EssilorLuxottica will have a starting price of $299 when they hit the market on October 17
- Meta also introduced 28 AI characters that people can message on WhatsApp, Messenger and Instagram with "personalities" based on celebrities including Snoop Dogg
Business
Iran exports goods worth US$9.1bn to BRICS nations from March to August
Tehran, Iran--Iran has exported 27.7 million tons of goods worth $9.1 billion to BRICS member countries from March 21-August 21,...
- Some 70.3 million tons of non-oil goods worth $43.5 billion were traded between Iran and the rest of the world during the same period
- The top five export destinations for Iran's non-oil goods were China ($5.6bn), the UAE ($2.3bn), India ($845m), Russia (361m) and S. Africa ($51.5m)