World’s largest SWF posts $138 billion in H1 profit as AI demand boosts tech
Norway’s massive sovereign wealth fund on Wednesday posted first-half profit of 1.48 trillion kroner ($138 billion), primarily driven by robust...
Economy
West tells Iran to ‘stand down’ Israel attack threats; Tehran says ‘no way’
With tensions soaring in the Middle East, the United States says that Iran along with its proxies might attack Israel...
Business
Twitter Q2 revenue at $1.18bn
Twitter reported disappointing results on Friday, a miss that the social network attributed to "headwinds" including the uncertainty related to...
- Twitter missed expectations with revenue of $1.18 billion, due to "advertising industry headwinds"
- Uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk is also touted as a reason for the results
Geostrategy
‘Bilateral ties strengthened with UAE President’s France visit’
The French Ambassador to the UAE, Xavier Chatel, described the first official visit to France of UAE President Sheikh Mohamed...
- The French Ambassador to the UAE described the first official visit to France of UAE President as successful
- Sheikh Mohamed bin Zayed Al Nahyan's visit underscores deep-rooted friendship between the two countries
Economy
Allotted industrial & commercial land rules in Dubai amended
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister has issued a decree regulating the grant of title...
- Sheikh Mohammed bin Rashid issued Decree No. (25) of 2022 amending some of the articles of Decree No. (4) of 2010
- Article (1) outlines the definitions in the decree, while Article (2) covers the ownership of granted land
Business
French oil, shipping firms reduce prices under government pressure
French oil group TotalEnergies and shipping giant CMA CGM announced price cuts on Friday as demanded by the government amid...
- French oil group TotalEnergies and shipping giant CMA CGM announce price cuts
- The French government demanded that energy and transport firm cut prices amid calls for windfall taxes
Economy
UAE Federal Tax Authority carries out 9,500 inspections in H1 2022
The Federal Tax Authority expanded its efforts in collaboration with various government departments, ministries and authorities to protect consumers from...
- During the first half of this year, the FTA carried out 9,948 inspection visits in local markets across the country
- Inspections conducted H1 of 2022 increased by 104 percent compared to 4,878 inspections conducted H1 of 2021.
Business
2.6% year-on-year rise in insurance sector assets in Q1 2022: CBUAE
The number of insurance policies increased Y-o-Y by 10.4 percent in Q1 2022 to 2.3 million policies compared to 2.1...
- The number of insurance policies increased Y-o-Y by 10.4 percent in Q1 2022 to 2.3 million policies compared to 2.1 million policies
- Gross Written Premiums increased Y-o-Y by 4.6 percent in Q1 2022 to AED 15.8 billion mostly due to an increase in property and liability insurance premiums
Economy
A new ‘architectural openness’ is remaking Saudi streets
Local architects and engineers say such features have become a hallmark of renovation and newly-built projects across the capital Riyadh.
- Local architects and engineers say such features have become a hallmark of renovation and newly-built projects across the capital Riyadh
- The result is a kind of visual marker of the more welcoming narrative Saudi officials are pushing for the traditionally ultra-conservative kingdom
Geostrategy
Putin, Saudi crown prince discuss oil as global energy market gets volatile
Russian President Vladimir Putin and Saudi Arabia's Crown Prince Mohammed bin Salman spoke about the oil market in a telephone...
- The Saudi-led OPEC oil grouping has been cooperating with a number of other oil-exporting nations including Russia for several years to better control the oil market
- The group, called OPEC+, introduced production cuts during the coronavirus pandemic that helped the oil market to recover from a crash in prices to below zero
Economy
Dubai Health Authority, Visa sign MoU to enhance health tourism
The Dubai Health Authority recently signed a Memorandum of Understanding (MoU) with Visa with the aim of enhancing Dubai's competitiveness...
- Visa cardholders would be given exclusive discounts on medical services by by members of the Dubai Health Experience
- The cardholders will be able to choose a range of medical services, book appointments and plan their treatment itineraries
Science
Testing of Barakah Nuclear Plant’s last unit successful
The Emirates Nuclear Energy Corporation has successfully completed the Hot Functional Testing on Unit Four, the last of its four...
- Emirates Nuclear Energy Corporation successfully completes Hot Functional Testing on the last of its four units of Barakah Nuclear Energy Plant
- Results demonstrate that all systems perform in accordance with the highest quality and safety standards under normal operating conditions
World’s largest SWF posts $138 billion in H1 profit as AI demand boosts tech
Norway’s massive sovereign wealth fund on Wednesday posted first-half profit of 1.48 trillion kroner ($138 billion), primarily driven by robust...
Economy
Company News
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ExxonMobil to buy Denbury
Business
UAE, Armenia ink 4 MoUs at joint business forum
YEREVAN, ARMENIA - Chairman of the Federation of UAE Chambers of Commerce and Industry (FCCI) Abdullah Mohamed Al Mazrouei and...
Business
Jordan seeks World Bank support to boost infrastructure projects
Amman, Jordan-- Jordan and the World Bank have held discussions to enhance cooperation in infrastructure projects and the public-private partnerships....
Economy
Saudi Arabia seeks Chinese investment in mining, industry
Beijing, China - Saudi Arabia is seeking Chinese investment in mining and industrial sectors. The Saudi Minister of Industry and...
Business
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Economy
Kuwait and China sign raft of agreements to bolster ties
Looking to shore up ties between the two countries, Kuwait and China have signed cooperation agreements across a range of...
- The two leaders also discussed avenues to further strengthen ties for the mutual prosperity of the two nations
- They deliberated on regional and international developments and expressed desire to solidify strategic partnership
Business
UAE-Saudi non-oil trade reaches US$159bn in 2018-22
ABU DHABI, UAE - The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by...
- The volume of trade between the UAE and the Kingdom of Saudi Arabia grew by 28 percent in 2022.
- The year 2021 saw growth, reaching $33.9 billion (AED 124.65 billion), compared to $28 billion (AED 103.91 billion) in 2020.
Business
Afghan wushu fighters defy money woes to pursue Asian Games glory
Afghanistan will compete in 15 sports in Hangzhou, the country's first Asian Games since the Taliban seized power in 2021....
- The team say the Taliban authorities support sport, but there is no government financial backing for athletes
- Afghanistan will compete in 15 sports in Hangzhou, the country's first Asian Games since the Taliban seized power