Iran declared one of the country's largest private banks bankrupt with its assets absorbed by the state, official media reported...
Signatories include the "Godfather of AI" and 2024 winner of the Nobel Prize in Physics Geoffrey Hinton; Computer Sciences Professor...
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.
ABU DHABI, UAE - Emirates Development Bank (EDB) has committed US$350 million (AED 1.3 billion) to support the Energy Transition Accelerator...The ETAF platform is a global climate finance facility established by the International Renewable Energy Agency (IRENA).
The announcement was made during the signing of a collaborative partnership agreement between EDB and IRENA.
- RIYADH, SAUDI ARABIA - The General Authority for Small and Medium Enterprises (Monsha'at) has released its latest quarterly SME Monitor,...
The total number of SMEs in the Kingdom has risen and reached 1.27 million.
Over 43 percent of SMEs are located in the financial capital of Riyadh.
SHARJAH, UAE - Bank of Sharjah announced its selection as joint lead manager and bookrunner in the debut US$350 million...The Sukuk issuance was 1.7 times oversubscribed, with the orderbook reaching approximately US$600 million.
“This demonstrates Ittihad’s solid business fundamentals and confirms its strong credit appetite,” CEO of Bank of Sharjah said.
- Baghdad, Iraq -- Sixty percent of farmers surveyed in four provinces of drought-hit Iraq reported having to reduce cultivated areas or...
Successive years of drought have already displaced tens of thousands from rural areas in Iraq, particularly in the southern provinces that face extreme heat during the summer.
In addition to drought, the authorities blame upstream dams built by Iraq's powerful neighbours Iran and Turkey for dramatically lowering water levels in the Tigris and Euphrate.
