The non-oil economy expanded 6.6 percent year-on-year to AED174.1 billion — the highest quarterly value on record — and accounted...
- Still heavily reliant on imported fossil fuels, Japan has declared offshore wind energy a "trump card" in its drive to...
Abu Dhabi, UAE - The UAE and Pakistan recently sealed a significant deal, potentially injecting between $20 to $25 billion...The move comes as Pakistan grapples with economic challenges, including a balance of payments crisis and dwindling foreign exchange reserves
Pakistan Prime Minister Kakar hailed the signing as a historic milestone that would elevate economic cooperation between the two nations
ABHA, SAUDI ARABIA - Extending over 34 kilometers, the Abha Valley Basin enjoys a variety of wildlife aspects, civilizational features...The Abha Valley abounds in environmental diversity, which explains its array of mountain plants.
The rugged areas of the highest point of the valley form the right habitat for the Arab tiger,
Riyadh, Saudi Arabia - Operating income of Saudi banks increased by 2.9 percent QoQ, majorly due to net-interest income (NII)...Top 10 lenders demonstrate resilience with a 2.9 percent quarter-on quarter (QoQ) increase in operating income, fueled by robust net interest income growth
Moderated credit growth is anticipated in Q4’2023, underscoring a positive economic outlook, driven by non-oil sectors and sustained government spending
Low- and middle-income countries have experienced a combined loss in capital and GDP totaling $21 trillion, about half of the...The report estimated that impacts from human-caused climate change cut 6.3 percent from global economic output last year, when weighted across populations
"The world is trillions of dollars poorer because of climate change and most of that burden has fallen on poor countries," said lead author James Rising
- Abu Dhabi, UAE - Martina A Strong, the US Ambassador to the UAE revealed on Monday that American companies secured...
Martina A Strong underlined the UAE's significance as a market for American companies, highlighting the presence of over 1,500 American businesses
The companies are drawn to the UAE's strategic location, its pro-business environment, and its gateway to burgeoning regional markets, she noted
"The country's strategies, such as the Energy Strategy 2050, aims at raising the share of clean energy in the total...The UAE leads in sustainable development and urban planning, emphasizing renewable energy, efficient buildings, and sustainable transportation for a greener future.
The UAE's Energy Strategy 2050 aims for 50% clean energy, while Dubai's Clean Energy Strategy 2050 targets 75%, supported by solar parks and green funds.
RIYADH, SAUDI ARABIA - Al Rajhi Bank said on Monday that it has appointed Abdullah bin Sulaiman Al Rajhi as...Al Rajhi Bank is also the world’s largest Islamic bank by assets and market capitalization.
It said in a regulatory filing that it also named Ibrahim bin Mohammed Al Romaih as vice chairman.
ABU DHABI, UAE - Emirates Water and Electricity Company (EWEC) on Monday announced that it will conduct its Q4 2023...CECs are the only accredited instruments in the Emirate that prove the environmental and economic benefits of consuming clean energy.
Issued in units of 1MWh, each CEC certifies that the electricity consumed by the entity originates from a clean energy source.
- Stock markets were mostly in wait-and-see mode as investors eyed the release this week of key US inflation data that...
The Dow edged higher at the open, while the S&P 500 and Nasdaq drifted lower.
With Wall Street seeing little action at the back of last week owing to the Thanksgiving break, traders had few catalysts to drive action.
- In 9M, the firm's restructuring led to a turnaround.
Operating revenue in 9M 2023 increased to US$30 million, a growth of 271 percent Year-on-Year.
The NBFIs operating revenue recorded US$15 million in 9M2023, a growth of 680 percent YoY.
