Consumer products sector grows amid rising prices
The consumer products sector enjoys tremendous growth, with retail sales value for the industry globally rising by close to 10...
Business
Passenger traffic could exceed earlier figures, says Dubai Airports’ CEO
DUBAI, UAE – The airport here has "every chance" of breaking its record for passenger traffic this year after surpassing pre-pandemic...
Business
Business
Israeli tech firms line up for UAE manpower
Dozens of Israeli high tech companies are keen to open units in Dubai or Abu Dhabi after Rapyd's decision to...
- About a dozen portfolio firms of Israeli venture capital fund OurCrowd actively seek to open units in Dubai or Abu Dhabi, says its CEO Jon Medved
- Israeli fintech firm Rapyd is the first to decide that it will open an office in the UAE following the normalization of ties between the two countries
Business
Arada enters Dubai market
Full details will be revealed at the sales launch, scheduled to take place in the third quarter of 2022.
- Design work on Arada’s mixed-use project on Palm Jumeirah has begun and will contain residential, leisure and F&B components
- Arada’s projects include Aljada, Sharjah’s largest ever mixed-use megaproject where 5,000 units are currently under construction
Business
Jordan’s ISSF to invest $1.5 million in Dubai-based Global Ventures
The Innovative Startups and SMEs Fund (ISSF) will invest $1.5 million in Global Ventures
- Global Ventures is a Dubai-based growth-driven venture capital firm focused on investing in growth-stage technology.
- Investing in progressive funds such as Global Ventures supports ambitious SMEs to expand their businesses, ISSF said.
Business
UAE, South Korea ECAs sign MoU to boost green energy investments
The official export credit agencies of the UAE and South Korea have signed an MoU to boost investments in sustainable...
- Etihad Credit Insurance and K-SURE will work to facilitate support for various collaborative projects, especially hydrogen economy and renewable energy.
- They will also join forces to support the exporters operating in diverse industries to enter the global market.
Business
Assets of Jordan’s Social Security Investment Fund rise by JD1.1 bn in 2021
The assets of Jordan's Social Security Investment Fund (SSIF), the investment arm of the Social Security Corporation (SSC), jumped by...
- The fund’s overall returns on investment (ROI) amounted to JD575 million in 2021 against JD509 million in 2020.
- Bonds account for 57 percent of the SSIF’s investment portfolio, followed by stocks 16.6 percent.
Business
Black diamond worth $5m goes on display in Dubai
The world's largest known cut diamond went on public display for the first time Monday ahead of its sale, when...
- The Enigma, the name of the rare black carbanado diamond, was put on display in Dubai, in the United Arab Emirates
- The diamond is believed to have been created when a meteorite or an asteroid hit the Earth more than 2.6 billion years ago
Business
She overcame prejudice to ride sea waves
Sahar Al Rasti, the first Emirati female ship captain, said that working behind the rudders of ships for long days,...
- Her journey began in 2015 while working in the ports of Abu Dhabi as an administrative assistant
- The captain explained that she is very passionate about her job and craves to learn new things like discovering the secrets of maritime navigation
Business
TAQA Group, EWEC price green bond
The bonds were 1.8 times oversubscribed.
- The bonds, one of TAQA’s first forays into green financing, will refinance existing debt facilities of SPPC.
- TAQA is one of the largest listed integrated utility companies in the Europe, the Middle East and Africa.
Business
Empower begins to operate a new cooling plant in Dubai
Emirates Central Cooling Systems Corporation (Empower) has started operating the first phase of its new District Cooling plant in Za’abeel,...
- The total cooling capacity of the plant will be 50,000 RT upon completion
- It will be interconnected with the company’s existing district cooling plant in Dubai International Financial Centre (DIFC) to deliver total cooling energy of 112,000 RT
Business
HP, UAE sign education MoU
MoU aimed at enhancing cyber skills training in UAE schools.
- HP and the Cyber Security Council will launch various initiatives nationwide and expect to work with more than 500 students a year.
- The partnership with the Cyber Security Council has three separate elements that support schoolchildren, university students, and graduates.
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Consumer products sector grows amid rising prices
The consumer products sector enjoys tremendous growth, with retail sales value for the industry globally rising by close to 10...
Business
Company News
Air Arabia to double fleet
Business
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Most expensive American falcon sold for $146,000 at Saudi auction
Riyadh, Saudi Arabia -- An American pure ultra-white falcon cherrug sold for SAR550,00 ($146,000) at the third edition of the...
Arts & Culture
HR ministry and Bayt.com sign MoU to boost talent retention in UAE
Abu Dhabi, UAE -- The Ministry of Human Resources and Emiratization (MoHRE) of the UAE and job search and recruitment...
Business
Dubai Chambers saves water, works on sustainability agenda
DUBAI, UAE - Dubai Chambers has contributed to the emirate’s drive for sustainability by saving a total of 72,239 litres...
Business
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Business
Google unveils changes before strict EU rules kick in
EU rules will apply from Friday to Google, alongside 18 other large social media platforms and websites including Meta-owned Instagram,...
- Google's latest steps include expanding its "Ads Transparency Center", where users will find more information about targeting for ads in EU
- It would publish transparency reports with extra information about how content moderation has been handled for more of its services
Business
AI chips revenue to reach $53bn in 2023: study
Dubai, UAE – The global semiconductor industry is set to witness a significant revenue boost in the coming year, with...
- Industries spanning the spectrum and IT organizations are expected to incorporate AI chips into their systems
- Gartner analysts foresee a substantial rise in the value of AI-enabled application processors within consumer electronics
Classic cars back on the road – in Gaza City
Around 2.3 million Palestinians live in the territory, which has been under a crippling Israeli blockade.
- Around 2.3 million Palestinians live in the territory, which has been under a crippling Israeli blockade since the Islamist group Hamas seized power there in 2007
- There is a ban on importing a range of goods, including car parts, as Israel claims these may be used in producing explosives to be used against it