Baghdad, Tehran in talks to import gas from Turkmenistan
Tehran, Iran - Baghdad and Tehran are currently engaged in negotiations to facilitate the import of gas from Turkmenistan, with...
Economy
UAE construction market soars to $94bn in 2023
Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of...
Economy
Market Report
Equities rise as Powell soothes rate fears, oil presses higher
Traders were given a much-needed shaft of light on Wednesday when the Fed boss eased concerns over its plans for...
- Traders were given a much-needed shaft of light on Wednesday when the Fed boss eased concerns over its plans for tightening policy
- Powell told lawmakers he was in favour of a moderate pace of rate increases, with a 25-basis-point lift this month
Opinion
Diginomics helps revive region’s consumer confidence
It is becoming incredibly important for organisations, brands and brand owners to prioritise the refinement of their products and services....
- Armed with AI algorithms, tech startups, direct-to-consumer players, fintechs, edtechs, regional economies are becoming more digitally resilient
- It is becoming incredibly important for organisations, brands and brand owners to automate processes that are otherwise time consuming
Business
TAQA to recommend $600m dividend
The company has already paid $500m in quarterly dividends.
- The dividend payment will be in addition to the final payment of AED1.2 billion ($330 million).
- AED1.9 billion ($500 million) (1.65 fils per share) have already been paid in quarterly dividends.
Economy
Central Bank of UAE approves creation of 5,000 jobs for Emirati nationals
The Central Bank of UAE has approved the creation of 5,000 new jobs by the end of 2026 for Emirati...
- The jobs have been announced as part of the Emiratization of managerial positions in the banking and insurance sectors.
- The jobs will be created in coordination with the Emirates Institute for Banking and Financial Studies and the Emirati Talent Competitiveness Council.
Economy
UAE and Israeli firms hold 200 business meetings at Dubai event
The ‘Dubai-Israel: Future Horizons Mission’ was hosted by the Dubai International Chamber, which is one of the three chambers operating...
- The event was the focus of a high-level trade mission which was joined by 50 businessmen representing 25 Israeli companies listed in Tel Aviv Stock Exchange.
- Dubai’s non-oil trade with Israel reached nearly AED 2 billion in the first half of 2021.
Business
Romania-UAE Business Forum promotes economic collaboration
Romanian business leaders were speaking at Romania-UAE Business Forum at Expo 2020 Dubai.
- Romanian business leaders were speaking at Romania-UAE Business Forum at Expo 2020 Dubai
- Private sector representatives from the UAE and Romania called for harnessing available opportunities to create joint investment ventures
Economy
Biden says US will contribute half of 60 mn emergency oil barrel release
The United States will contribute half of the 60 million barrels of oil International Energy Agency (IEA) countries agreed to...
- The decision aims to "send a unified and strong message to global oil markets that there will be no shortfall in supplies," the IEA said in a statement earlier
- The invasion came "against a backdrop of tight global oil markets, price volatility, commercial inventories that are at their lowest level since 2014," the statement said
Economy
World Bank preparing $3 bn emergency aid package for Ukraine
The IMF and the World Bank have promised to provide financial support to Ukraine, saying that they are saddened by...
- The World Bank will provide $350 million immediately to alleviate Ukraine's humanitarian crisis
- The IMF has said it will consider Ukraine's latest request for emergency financing 'as early as next week'
Economy
World Bank announces more than $1bn in aid for Afghanistan
The objective of the new aid provided by World Bank is to "protect vulnerable Afghans and help preserve human capital...
- The World Bank has redirected the funds to UN and UNICEF in response to the humanitarian crisis in Afghanistan
- Multi-donor fund ARTF has coordinated international aid to improve the lives of millions of Afghans until the Taliban took over
Economy
Libya has 2 prime ministers after parliament vote
The emergence of the new government once again gives Libya two prime ministers, as was the case between unrest-plagued 2014...
- Libya’s parliament approved a new cabinet in a challenge to unity premier Abdulhamid Dbeibah, who has refused to cede power until elections
- In a vote some fear could help tip Libya into another round of violence, the cabinet of former interior minister Fathi Bashagha was approved
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Baghdad, Tehran in talks to import gas from Turkmenistan
Tehran, Iran - Baghdad and Tehran are currently engaged in negotiations to facilitate the import of gas from Turkmenistan, with...
Economy
Company News
Latest News
UAE’s real estate market remains strong in the first half of 2023: CBRE
Dubai, UAE--The UAE's real estate market has recorded a strong performance across all sectors in the first half of the...
Economy
US equities up as major firms set to unveil economic reports
New York, US - Wall Street stocks edged higher early Monday ahead of major economic reports and earnings releases later in...
Business
Federal Reserve open to alter interest rates, says official
Washington, US - A Federal Reserve official left open the possibility on Monday of pausing or stopping interest rate hikes at...
Economy
Most Read
Geostrategy
UK to issue hundreds of new oil and gas drilling licenses in North Sea
The announcement has angered environmental groups and comes amid an internal debate within the ruling Conservative party on green policies....
- "Investment in the North Sea will continue to unlock new projects, protect jobs, reduce emissions and boost UK energy independence," PM Rishi Sunak's office said.
- "The government is taking steps to slow the rapid decline in domestic production of oil and gas, which will secure our domestic energy supply," it said.
Geostrategy
UAE oil giant ADNOC pledges to ‘accelerate’ zero-carbon plan
ADNOC "is accelerating its decarbonization plan to advance its net-zero ambition to 2045, compared to its previous target of 2050,"...
- ADNOC said it has "reduced its greenhouse gas emissions" by about 5m tons in 2022, mostly through the use of solar and nuclear energy, to power all of its onshore operations.
- ADNOC CEO Sultan Al Jaber, who will head up COP28, has argued that fossil fuels will continue to play a key role, and that carbon capture technologies will contain emissions.
Business
National Leasing’s profits hit $2.37m
A jump of 28 percent in net profit vis-a- -vis H1 2022.
- National Leasing Holding was established in 2003
- It was listed on QSE in 2003 with a capital of $135.9 million.