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...

The Company’s non-fuel retail business rose by over 12%.

Dubai's off-plan sales rose 38% in value, while Abu Dhabi's doubled to $1 billion, as the market saw the addition of 7,300 new units in the former and 1,000 in the latter.

Firm's EBITDA rose 12.7% y-o-y to $127 million in H1 2023.

Abu Dhabi, UAE - Abu Dhabi International Airport (ADIA) registers an increase of 67 percent in passenger traffic with 10,258,653 passengers passing through the airport between January 1 and June 30, 2023, compared to 6,158,376 passengers during the same period last year. The airport also recorded 67,835 flights, a rise of...

Acquisition aims to diversify and expand into several sectors.

Abu Dhabi, UAE - Oman and Etihad Rail Company (OERC) signed a deal with Jindal Shadeed Iron & Steel (Jindal) to establish a sustainable end-to-end transport logistics solution between Jindal’s steel complex at Sohar Port and the United Arab Emirates (UAE), via the UAE-Oman Rail Network.The deal is a part...

Abu Dhabi, UAE - ADQ and IHC Capital Holding are joining forces to bring together ADQ's ownership of Abu Dhabi National Exhibitions Company (ADNEC) and its stake in Modon Properties, along with IHC Capital's share in Modon to form a new entity called Q Holding. The proposed transaction would create one...

The UAE, set to host COP28 from November to December in the business hub of Dubai, requires official permission for protests but effectively bans demonstrations it deems disruptive. At the upcoming UN climate talks "there will be space available for climate activists to assemble peacefully and make their voices heard", it...

Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) and Citaglobal Berhad have signed a memorandum of understanding (MoU) for developing renewable energy projects across solar, battery energy storage system (BESS), wind and other renewable energy technologies.The MoU was signed in Malaysia by Abdulla Zayed, Masdar’s Head of Development and Investment,...

Abu Dhabi, UAE - The UAE is establishing federal prosecution entities specialised in economic crimes and money laundering, to develop the UAE's judicial system in line with changing global economic landscape. The establishment of these entities also represents a first step towards investigating and cracking down on crimes such as corporate...

ABU DHABI, UAE - The UAE Ministry of Finance (MoF) on Saturday announced administrative penalties for violations related to the Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses. The penalties will be imposed on Taxable Persons, whether an individual or a legal entity, who do...

The company's total operating income was $135m.

The Abu Dhabi firm will push for growth in the defense sector.

“Handling disinformation is the need of the hour. The Global Media Congress will help devise a strategy to use the available tools to tackle disinformation. We need an effective strategy to ensure that the messages impacting our citizens and the world are delivered in a positive, ethical and meaningful way,”...

New customers and projects were added in H1 2023.

The bank's revenue grew by 50 percent to AED 4.3 billion.

The company logged a net profit of $4.4m.

Abu Dhabi, UAE - The UAE government’s revenues amounted to AED115.6 billion ($31.3 billion) and its expenditures totaled AED92.5 billion ($25.0 billion) in the first quarter of 2023, the preliminary results of the UAE Government Finance Statistics Report for the first quarter of 2023, published by the Ministry of Finance...

Abu Dhabi, UAE - Khalifa Economic Zones Abu Dhabi or KEZAD Group, and Al Jazeera Steel Products Co, held the groundbreaking ceremony of the region’s first Rolling Mill with Rail production capability in Abu Dhabi.The establishment of the mill over an area of 210,000 square metres in KEZAD aims to...

“Our cooperation with Japan External Trade Organisation (JETRO) is part of these efforts as Japanese experience and progress reflect role of competent talent in the scientific and technological fields, and the effectiveness of its human capital development programmes,” he adds.

The group's public market portfolio stands at $9.1bn.

Abu Dhabi, UAE - The foreign direct investment (FDI) in the individual category within Abu Dhabi's real estate sector has soared to AED 834.6 million during the first half of 2023, achieving a record growth rate of 363% compared to the corresponding period last year, the emirate's Department of Municipalities...

Al Dhannah Hospital in Al Dhafra region is owned by ADNOC.

The company's interest income reaches $797m.

It is highest ever profit achieved by FAB in a half-year.

The two companies will explore opportunities globally.

Abu Dhabi, UAE - The conditions determining taxable and exempt persons, corporate tax rates and tax periods. were highlighted at the second workshop on the recently launched corporate tax organized by the UAE Federal Tax Authority (FTA) here on Wednesday.Other key topics covered during the workshop included the Small Business...

Abu Dhabi, UAE - Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates (CBUAE) discussed ways to enhance the integrity of the financial system in a meeting with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) on Wednesday. They also discussed partnership between CBUAE...

Abu Dhabi, UAE - The United Arab Emirates (UAE) has secured the top spot in the Arab region and risen to 29th globally in the United Nations Industrial Development Organization's (UNIDO) Competitive Industrial Performance Index (CIP). The index, which evaluates 153 countries, assesses national industrial performance and competitiveness on a global...

Firm has committed $2 billion for more such carriers.

Talk merger of shareholdings in Borouge, Borealis.

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE)’s Financial Stability Report for 2022 said the FTSE ADX General Index (FADGI.FGI) gained more than 20 percent in 2022.The Abu Dhabi Securities Exchange (ADX) trading value increased by 21.9 percent to AED 451 billion ($122.78bn).In its overview of UAE...

ABU DHABI, UAE - The significant growth in the volume of non-oil trade between the UAE and India signifies the positive progress of the Comprehensive Economic Partnership Agreement (CEPA), more than a year after it became operational.CEPA will help deliver the target of reaching US$100 billion in non-oil trade annually...

Dubai, UAE - India’s Prime Minister Narendra Modi arrived in Abu Dhabi today for the final leg of his two-nation visit. The visit aims to strengthen the burgeoning bilateral ties between India and the United Arab Emirates (UAE), two strategic partners. Indian PM is scheduled to meet with UAE President Sheikh...

Abu Dhabi, UAE - UAE Islamic banking sector assets witnessed steady growth in 2022, accounting for 23.0 percent of the total UAE banking sector assets, according to the Central Bank of the UAE (CBUAE)’s Financial Stability Report for 2022. The report highlighted the sector's continued recovery in profitability, supported by strong...

Abu Dhabi, UAE - The UAE’s real GDP growth accelerated during 2022 due to a robust recovery in non-oil GDP and a sizable expansion of oil GDP, according to the Financial Stability Report for 2022 released today by the Central Bank of the UAE (CBUAE).The report noted that this comes...

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) on Friday issued its Financial Stability Report for 2022.The report provides a comprehensive assessment of the stability of the UAE financial system, which remained resilient throughout 2022 despite global headwinds and the banking sector being well capitalized with adequate...

Abu Dhabi, UAE-- The Crown Prince of Abu Dhabi and chairman of the Abu Dhabi Executive Council Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has reviewed progress of the projects undertaken by the government in the emirate.The crown prince in this connection chaired a meeting of the council in...

Abu Dhabi, UAE - The United Arab Emirates and France reviewed the prospects of growing bilateral trade exchanges and advancing investments across various fields during the meeting between UAE Minister of Economy Abdullah bin Touq Al Marri, and the visiting French Minister Olivier Becht. Two sides discussed investment exchanges in innovative...

ABU DHABI, UAE – The Louvre Abu Dhabi has displayed new acquisitions including three artworks by Pablo Picasso alongside loans from partner museums and international institutions.This further strengthens Abu Dhabi as a global hub for culture.The newly exhibited artworks reinforce the museum's pivotal role as a trusted partner with cultural...

New firm is a $54 million corporate venture capital fund.