Former US treasury secretary says preparing buyout of TikTok
Washington, US - Former US Treasury Secretary Steven Mnuchin on Thursday said he is putting together a team of investors to...
Geostrategy
UAE, Hungary ink pact to enhance trade, investment ties
ABU DHABI, UAE – The United Arab Emirates and Hungary have signed an economic cooperation agreement aimed at stimulating trade...
Geostrategy
Economy
Dubai supports expansion of financial markets in UAE : Minister
Finance Minister of Dubai Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum affirmed that his government provided all support needed...
- Dubai Finance Minister Sheikh Maktoum bin Mohammed bin Rashid said Dubai Mercantile Exchange (DME) was able to gain the confidence of major oil producers.
- DME is located within the Dubai International Financial Centre (DIFC), a financial free zone designed to promote financial services.
Business
Dubai Islamic Bank profit rises
Its net profits increased by 39 percent in 2021 to AED 4.4 billion.
- DIB is the largest Islamic bank in the UAE and the second-largest Islamic bank in the world.
- The bank said it proposed to pay a dividend of 25 percent to shareholders subject to the approval of the AGM.
Business
ADNOC is UAE’s most valuable brand for 4th year
ADNOC maintained in 2022 its position as the UAE's most valuable brand for the fourth consecutive year, according to a...
- ADNOC's US$12.76 billion (AED47 billion) brand value witnessed a 19 percent increase over the previous year
- ADNOC ranked the first valuable brand in the UAE, the second in the Middle East and North Africa
Business
Micrsoft startups opens second round of GrowthX Accelerator Program
Microsoft for Startups Middle East Wednesday announced it has opened a second round of applications for Microsoft for Startups’ highly...
- GrowthX Accelerator and Highway to 100 Unicorns are part of a strategic partnership between Microsoft and the Abu Dhabi Investment Office.
- The GrowthX Accelerator brings together corporates with challenges and startups that can build field-ready solutions.
Business
Arabian Healthcare and CommonSpirit to boost alliance
Ras Al Khaimah is taking steps to further enhance its growing healthcare sector through the continuation of an alliance between...
- The critical areas of collaboration with CommonSpirit will include digital innovation, training and education, clinical alignment, care coordination
- Among the care centers widely recognized with clinical expertise in DHI’s US network are the Barrow Neurological Institute in Phoenix, Arizona
Business
Emirates NBD’s profits jump 34%
Dubai's largest bank sees its net profits rising to $2.5 billion in 2021 from $1.9 billion in 2020.
- The bank, the second largest lender in the United Arab Emirates, said its net profits rose 34 percent to $2.5 billion, from $1.9 billion in 2020.Â
- The bank has set aside $1.6 billion in impairments, covering loan losses, a 26-percent decrease from last year, due to improving economic conditions
Business
Istanbul’s snowed-in airport stirs back to life
Istanbul Airport closed on Monday for the first time since it took over from the old Ataturk Airport as the...
- Istanbul Airport closed on Monday for the first time since it took over from the old Ataturk Airport as the global hub of Turkish Airlines in 2019
- Fuming passengers complained on Twitter about a lack of regular updates from Turkish travel officials and poor customer service
Business
Jordan, Tunisia discuss economic cooperation
The discussion happened at the first session of the Jordanian-Tunisian Joint Trade Committee.
- The meeting was attended by Secretary-General of Jordan’s Ministry of Industry, Trade and Supply Dana Al-Zoubi
- Head of the Cabinet of Minister of Trade and Export Development in the Tunisian Ministry of Trade, Khaled bin Abdullah, also attended
Business
Paramount picks new group CEO
Steve Griessel, the new CEO of the Paramount Group will be providing strategic, financial and operational leadership to the company...
- South Africa born Griessel has served several companies as CEO in South Africa and the US
- Griessel has business leadership and senior management experience of more than 30 years
Business
Masdar, W Solar Investment partner to develop renewable energy projects
Masdar, one of the world’s leading renewable energy companies, and W Solar Investment, a subsidiary of Alpha Dhabi Holding, and...
- The new company, MW Energy Limited, will act as a development platform, focusing initially on a pre-identified pipeline of projects
- The JVC will focus initially on the development of pre-identified projects, primarily in Africa and in the Commonwealth of Independent States (CIS) region
Former US treasury secretary says preparing buyout of TikTok
Washington, US - Former US Treasury Secretary Steven Mnuchin on Thursday said he is putting together a team of investors to...
Geostrategy
Company News
Jamjoom Tadawul debut on Jun 20
Business
Bupa renews contract with SABIC
Business
Latest News
ENOC Group, Kawasaki renew partnership
The pact was signed through ENOC partner CKW Enterprises.
Business
Saudi crown prince says ready for economic partnership with BRICS
DUBAI, UAE – Saudi Arabian Crown Prince Mohammed bin Salman in a telephonic conversation with Russian President Vladimir Putin has...
Geostrategy
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Business
EIH acquires stake in 9Yards Comm
The acquisition aims to broaden EIH's investment portfolio.
- EIH has cultivated a diversified, innovative and sustainable investment portfolio comprising over 40 successful companies across various sectors.
- 9Yards Communications has a broad client portfolio encompassing government entities and private organizations both domestically and internationally.
Business
Tencent claims new AI chat bot skills comparable to ChatGPT
Tencent on Thursday gave a live demonstration of Hunyuan Aide's capabilities, with the bot introducing itself in response to questions...
- Tencent's "Hunyuan Aide", which it released to the public on Thursday, follows the similar ERNIE Bot rolled out by fellow Chinese company Baidu last month
- Hunyuan Aide has "powerful Chinese language writing ability, the ability to make logical inferences in complicated linguistic contexts, Tencent said in a statement
Business
ADNOC Gas signs US$450-550m Chinese supply deal
Abu Dhabi, UAE--ADNOC Gas today announced an agreement valued between $450 million and $550 million to supply Liquefied Natural Gas...
- ADNOC Gas CEO Ahmed Mohamed Alebri said that China continues to be a key market for the firm, and the deal reinforces "our role as a major LNG supplier"
- Elary this year, the firm -- 90 percent-owned by state oil giant ADNOC -- also signed a three-year supply agreement with France's TotalEnergies Gas and Power