ABU DHABI, UAE - The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by 28 percent in 2022, reaching US$37.4 billion (AED 137.51 billion), compared to US$29 billion (AED 107.41 billion) in 2018.The total non-oil trade between the UAE and Saudi Arabia rose to...

Firm won $109 million contract extending over four years.

The second dividend for 2023 is expected to be paid in May 2024.

Abu Dhabi, UAE - Abu Dhabi Media Network is all set to launch an English edition of its existing Al Ittihad Arabic newspaper. The yet-to-be-named daily will be a second English newspaper in the UAE’s capital city besides The National, which is owned by the International Media Investments (IMI).The announcement...

The UAE president and the ruler of Dubai spent time in conversation with Al Neyadi – accompanied by his father and three of his children – and discussed aspects of the mission and his experience during his time in space. They congratulated him for completing the longest ever space flight...

Abu Dhabi, UAE - The UAE President Sheikh Mohamed bin Zayed Al Nahyan of the UAE and President Abdel Fattah El-Sisi of Egypt met in Abu Dhabi to discuss bilateral relations and cooperation between their countries. The two presidents deliberated on economic, investment, and development collaborations between the two countries, exploring...

Abu Dhabi, UAE - Abu Dhabi Sports Council discussed business developments and plans for developing the sports sector here, local media reports said.This also includes the continuation of supportive initiatives and programs to enhance the success of the sports system at the local and global levels.Mohammed Thani Al Rumaithi, Vice...

ABU DHABI, UAE – Director-General of the Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AMLCTF) Hamid AlZaabi said that in H1 2023, there has been a significant improvement across the board on the issue of AML/CFT in the country.In a statement to the Emirates News Agency (WAM),...

Move aligns with EIH's aim to diversify sources of investment.

Lunate has more than $50bn in Assets Under Management.

Abu Dhabi, UAE - The UAE Ministry of Tolerance and Coexistence and the COP28 Presidency have signed a Memorandum of Understanding (MoU) to promote tolerance, coexistence, and human fraternity during COP28 slated to  take place from November 30 - December 12. The UAE Minister of Tolerance and Coexistence Sheikh Nahayan bin...

Abu Dhabi, UAE - The Arab Monetary Fund said Wednesday that global credit card fraud losses incurred by financial institutions and individuals reached around US$32.3 billion in 2021.The losses increased substantially by 13.8 percent compared to the previous year, WAM reported.The Fund released a study titled "The Role of Artificial...

Abu Dhabi, UAE - The financial wealth of United Arab Emirates (UAE) is anticipated to experience a Compound Annual Growth Rate (CAGR) of 5.5%, rising from $1 trillion to $1.3 trillion from 2022 to 2027, according to a new report by Boston Consulting Group (BCG).The BCG report, titled ‘Global Wealth...

The interim dividend reflects the firm’s robust balance sheet.

Abu Dhabi, UAE-- UAE President Sheikh Mohamed bin Zayed and Nigerian President Bola Ahmed Tinubu discussed opportunities for further bilateral collaboration in areas that serve both countries’ sustainable economic growth, including the economic, development, energy, and climate action fields in a meeting in Abu Dhabi.Sheikh Mohamed expressed his hope that...

Aim is to help in decarbonization of the Polish power sector.

With the latest acquisition, the firm now owns 39 JUBs.

The $1bn was committed to Blue Owl's credit platform.

Aldar Estates will benefit from a stable growth pipeline.

Abu Dhabi, UAE - The UAE Ministry of Economy has announced that Zencargo, a UK-based company with expertise in digital freight forwarding, is joining its NextGenFDI program, a government initiative to attract international investment to the UAE.The company plans to establish operations in the Emirates with a view to integrating...

The pilots of Bell 212 helicopter -- an Egyptian and a South African -- had been on a training flight for AeroGulf, the UAE's leading commercial helicopter operator. AeroGulf was founded in 1976 to provide services to the oil and gas industry, before expanding its services to other sectors.

The acquisition aims to broaden EIH's investment portfolio.

Abu Dhabi, UAE - A global summit for faith leaders from around the world will take place in Abu Dhabi from November 6 to 7, to highlight the crucial role of faith communities in addressing climate change. The summit will take place ahead of the 28th Conference of the Parties...

ABU DHABI, UAE - The global space economy has great potential in terms of economic prospects, with the sector going past the half-a-trillion-dollars mark in 2022, only a few decades after the term “space economy” came into existence.Several studies by specialized global institutions indicate that the global space sector will...

ABU DHABI, UAE - Over the course of a six-month space mission on board the International Space Station (ISS), UAE astronaut Sultan AlNeyadi conducted over 200 advanced research experiments and studies that took about 585 hours.These research experiments were held in collaboration with 10 international space agencies and 25 esteemed...

GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit declines, the banking sector thrived.

Abu Dhabi, UAE - ADNEC Group, through its tourism arm Tourism 365, has launched new charter flight services in the UAE, enhancing travel options for international tourists from multiple destinations. The new service, available from Europe and central Asia, is poised to increase visitor arrivals to the UAE, while further...

ABU DHABI, UAE - Chief Investment Officer, Emerging Markets at UBS Global Wealth Management Michael Bolliger forecasts the UAE's gross domestic product (GDP) to stand at 3.5 percent in 2023, rising to 3.9 percent in 2024.In a statement to the Emirates News Agency (WAM), Bolliger shared the bank's positive outlook...

ABU DHABI, UAE - Credit facilities provided by national banks to the business and industrial sectors rose by US$7.7 billion (AED 28.5 billion) in the first half of 2023, according to figures revealed by the Central Bank of the United Arab Emirates (CBUAE).The apex bank’s figures showed that the two...

Abu Dhabi, UAE – Q Properties, a real estate developer and subsidiary of Q Holding, announced on Tuesday the award of $0.47 billion construction contract for Reem Hills Phase 1 villas to Trojan General Contracting.Trojan will be responsible for constructing the fully sold out 218 luxury villas ranging from 4...

Abu Dhabi, UAE - Abu Dhabi Islamic Bank (ADIB) has introduced enhanced international transfer features on its mobile app and internet banking. The improvements come as the bank reports a notable 20% year-on-year increase in remittances during H1 2023.As the first bank in the UAE to offer discounts on remittance...

Many Filipino media professionals are working in the UAE that forms the core of media cooperation. “Given the strong friendly relations between the Philippines and the UAE, I think there is so much we can accomplish together. There is so much more potential in many areas, especially in media sector,”...

ABU DHABI, UAE – Chairwoman of the General Women's Union (GWU) Sheikha Fatima bint Mubarak launched the National Strategy for Empowerment of Emirati Women in the UAE for the years 2023-2031, on the occasion of the Emirati Women’s Day 2023, under the theme of “We Collaborate for Tomorrow”.This strategy comes...

ABU DHABI, UAE - Borouge's Chief Operating Officer Dr. Hasan Karam has said the fifth polypropylene unit (PP5) played a significant role in H1 2023, contributing US$209 million (AED767 million) representing 22 percent of the company's propylene sales and 10 percent of our overall turnover.In a statement to the Emirates...

Abu Dhabi, UAE - The UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri, affirmed on Tuesday the UAE's readiness to host the upcoming Conference of the Parties (COP28) this November, in collaboration with all associated partners and entities.She underscored the UAE's pivotal role in advancing global...

ABU DHABI, UAE - The Abu Dhabi Chamber of Commerce and Industry has signed a Memorandum of Understanding with the Ethiopian Investment Commission (EIC) to foster the robust economic collaboration between the two sides.The MoU also aims to establish a framework for cooperation that advances trade, investment and economic relationships...

The United States exploded off the blocks, opening up a 13-point gap on the Greeks six minutes into the first quarter. Despite questionable turnovers during patches of the game, the USA were a class apart as they extended their perfect record in World Cup tune-ups to 4-0 in games played...

Business travel spending hit $23bn in 2022, nearing pre-pandemic levels as post-pandemic business trips get longer, supported by UAE's digital nomad and freelancer programs.

Abu Dhabi, UAE -- Following the success of the Falcon Auction in the last edition of Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX) in 2022, the Emirates Falconers' Club is preparing a special auction this year from 2-8 Sept. 2023.The previous edition witnessed the purchase of the most expensive...

ABU DHABI, UAE - A two-day meeting of world leading economists and finance leaders convened by the COP28 Presidency has stated the next steps needed to establish a new framework for international climate finance and to drive progress at COP28 and beyond to COP29 and COP30.World-leading economists from the Independent...

The company attributed growth to increased volume across key sectors.

Abu Dhabi, UAE – Real estate markets of UAE capital Abu Dhabi and Dubai demonstrated resilience in the face of rising interest rates and inflation in the second quarter, with Dubai realty market outperforming many if its peers worldwide, a report said.The report by Asteco, a full-service Real Estate company,...

ABU DHABI, UAE – ADNOC and the National Central Cooling Company (Tabreed) on Monday announced a breakthrough following the conclusion of testing on two geothermal wells at Masdar City here.The landmark project, the first in the Gulf region, is set to decarbonize the cooling of buildings in Masdar City, further...

The UAE, a senior official in foreign ministry said, has consistently supported the political process and efforts to achieve national consensus towards forming a government and will continue to support all efforts aimed at achieving security in Sudan and enhancing its stability and prosperity until a ceasefire is secured. She...

The company's net profit for H1 2023 stands at US$121.221 million.

Abu Dhabi, UAE - A record 2.4 million tourists visited the UAE during the first six months of 2023, a report by the Department of Culture and Tourism – Abu Dhabi said.Also, the numbers marked an increase of around 34 percent compared to the same period during last year.The emirate’s...

ABU DHABI, UAE -  The Abu Dhabi Fund for Development (ADFD) has signed a loan agreement with the Government of Tanzania worth US$105.4 million (AED387 million) to enhance energy security in the country.The project’s objective is to fully connect the Kagera administrative region with the national electricity grid, reducing dependency...

Abu Dhabi, UAE: ADNOC Gas, the integrated gas processing company, announced on Wednesday the award of a $3.6 billion (AED13.1 billion) contract to the joint venture between National Petroleum Construction Company Co. and Tecnicas Reunidas to expand its gas processing infrastructure in the UAE. The scope of the contract includes the...

The company had posted a loss of AED7 million in Q2 2022.

ABU DHABI, UAE - Key UAE government entities have partnered to boost coordination between advanced technology and space sectors.The collaboration is aimed at harnessing emerging technological innovations and developments to tackle global climate change.  The Ministry of Industry and Advanced Technology (MoIAT), UAE Space Agency, and COP28, through the Office...