Abu Dhabi, UAE-- In order to protect natural rangelands and promote sustainable traditional grazing practices, the Environment Agency – Abu Dhabi (EAD) has begun issuing licenses to owners and breeders of livestock to regulate grazing and all related activities in Abu Dhabi. The licensing policy has been introduced to ensure...

Abu Dhabi, UAE - The total direct and indirect economic impact is estimated at AED 48 billion ($13 billion) the UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi told  the Emirates News Agency (WAM). Al Zeyoudi said that the UAE is one of the largest re-export...

Abu Dhabi, UAE - The Barakah One Company (Barakah One) - a joint-venture between the Emirates Nuclear Energy Corporation (ENEC) and the Korea Electric Power Corporation (KEPCO) - has completed the refinancing of the Barakah Nuclear Energy Plant, working with key banking institutions in the UAE.The company has refinanced the...

PIF ranked seventh with a score of 92 (on the GSR score of 100), followed by Mubadala (88), among the SWFs. Regionally, the Middle East saw the biggest improvement from 32 percent in 2020 to 52 percent in 2023. It said Saudi PIF is managing to make its unparalleled growth sustainable by...

ABU DHABI, UAE -  UAE Ministry of Finance (MoF) released its annual report for the year 2022 highlighting performance, initiatives, national projects and international participation.The report is entitled "Remarkable Achievements Shaping Promising Financial Prospects",  includes MoF's most prominent achievements, leadership councils and committees, and strategic objectives.Minister of State for Financial...

Abu Dhabi, UAE - AD Ports Group on Sunday announced that it has acquired Noatum, a global integrated logistics services provider with a presence across 26 countries, for $0.72 billion. The acquisition has received approvals from all relevant regulatory bodies, including from Spanish Authorities, after it attained clearance from the...

While the global economy reels from high inflation and the war in Ukraine, the UAE looks poised for positive economic growth with the IMF and the World Bank projecting the country's economy to grow by 3.6 percent and 2.8 percent respectively. The economy will continue to benefit from tourism and...

Yerevan, Armenia – Non-oil trade volume between the UAE and Armenia reached $1.53 billion in 2022, with a growth rate of 673 percent compared to 2021, the UAE news agency Wam reported on Friday. The total UAE non-oil exports to Armenia amounted to almost $229 million in 2022, with a growth...

ABU DHABI, UAE  - Dr. Mohamed Al Kuwaiti, Head of Cyber Security for the Government, led a high-level UAE delegation of dozens of participants from leading Emirati entities to Cyber Week 2023 Conference in Israel. Dr. Al Kuwaiti addressed the Cyber Week Conference as a key-note speaker in the main...

Abu Dhabi, UAE-- Prominent Abu Dhabi companies are taking part in Impower Fund Forum, the largest asset and wealth management conference in Europe that will see participation of more than 1,400 international players from nearly 60 countries.The companies from Abu Dhabi that will take part in the event include the...

Will help to enhance efficiency of overseas operations.

Official data show a 6.1 percent growth in non-oil GDP during the first quarter of 2023, driven by strong performances in construction, wholesale and retail trade, transportation and storage, and financial and insurance services. The non-oil GDP (at constant prices) reached AED 146bn ($39.74bn) in Q1 compared to AED 137.7bn...

ABU DHABI, UAE -  AD Ports Group, a leading facilitator of global trade, logistics, and industry, and Premier Marine Engineering Services, a UAE-based shipyard company on Sunday announced the formation of a new joint venture, SAFEEN Drydocks.AD Ports Group will own 51 percent of the joint venture and the remaining...

Abu Dhabi, UAE-- The emirate of Abu Dhabi has approved the disbursement of housing benefits worth US$844 million to citizens in order to lift up their standard of living.In this connection, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi...

ABU DHABI, UAE - Aggregate capital and reserves of banks operating in the UAE rose by 10 percent year-on-year (YoY) to US$118.5 billion (AED435.3 billion) at the end of April 2023 from US$107 billion (AED395.9 billion) at the end of April 2022, according to the Central Bank of the UAE’s...

Abu Dhabi, UAE - Hub71, Abu Dhabi's global tech ecosystem, has welcomed its first cohort of the year comprising 15 startups operating in priority sectors including HealthTech, FinTech, and EdTech.The addition of the latest cohort has increased the size of Hub71’s vibrant community to over 240 startups.In the latest cohort,...

Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) has noted with satisfaction the persistent credit appetite of the private sector in the country, evident in the strong demand growth for loans that were coupled with financial institutions’ increased willingness to lend in the first quarter of this...

The energy company will pay US$462 million for the buyout.

Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) announced on Tuesday that the Money Supply aggregate M1 increased by 2.1 percent, from AED 759.3 billion ($206.47 billion) at the end of March 2023 to AED 775.2 billion ($210.68 billion) at the end of April 2023. This was...

ABU DHABI, UAE -  The Central Bank of the UAE's (CBUAE) balance sheet grew by 6.3 percent on a monthly basis to reach US$172 billion (AED631.63 billion) at the end of April 2023, marking the largest level ever in its history, the apex bank said in its budget report for...

The first phase works, costing $200m, likely to completed in 30 months.

VLCCs carry almost 2 million barrels of crude per voyage.

According to Qatar's foreign ministry, Doha will reopen embassy in Abu Dhabi and its consulate in Dubai immediately. The UAE too will throw it embassy open in Doha. The UAE's Foreign Minister, Sheikh Abdullah bin Zayed, spoke to Sheikh Mohammed bin Abdulrahman Al-Thani, Qatar's Prime Minister and also its Foreign...

ABU DHABI, UAE -  Abu Dhabi Department of Economic Development (ADDED) has partnered with Valeo to develop the automotive industry here by establishing a technology hub to manufacture autonomous and electric car components in the emirate.The hub will develop industrial solutions to support local electric car startups in Abu Dhabi...

Bicycle Capital is a growth equity firm focusing on startups.

JV to develop accommodation project in Abu Dhabi island.

This facility replaces an existing partially utilized term loan of the same amount.

A landmark deal in 2015, formally known as the Joint Comprehensive Plan of Action (JCPOA), gave Iran sanctions relief in exchange for curbs on its nuclear program to guarantee that Tehran could not develop a nuclear weapon -- something it has always denied wanting to do.

ABU DHABI, UAE -  Hub71, Abu Dhabi's global tech ecosystem, on Tuesday announced the winners of The Outliers Program, which gives founders worldwide the opportunity to build proof of concepts (POCs) alongside major reputable organizations.Participating startups have been recognized for their innovative solutions in various challenges set by Hub71’s strategic...

Abu Dhabi, UAE - Credit financing provided by the UAE national banks to the trade and industry sectors grew 6.1 percent YoY, or AED42.5 billion ($11.5 billion) in the first three months of 2023, according to recent data issued by the Central Bank of the UAE (CBUAE).The statistics showed that...

ABU DHABI,  UAE -  Khalifa Economic Zones Abu Dhabi – KEZAD Group on Friday announced the signing of a land lease agreement with Spain's Tubacex Group for the development of a state -of-the-art manufacturing facility for OCTG-CRA tubular solutions.This would be the first such manufacturing facility in the Middle East...

Abu Dhabi, UAE - The gross value of interbank fund transfers through UAE Fund Transfer System (UAEFTS) rose to more than AED 3.89 trillion ($1.06 trillion) in the first quarter of 2023, a YoY increase of 35.2 percent over the corresponding period in 2022, according to statistics released by the...

ABU DHABI, UAE -  The Emirates Nuclear Energy Corporation (ENEC) has announced that Unit 4, the fourth and final unit at the Barakah Nuclear Energy Plant in Abu Dhabi, has begun its operational readiness preparations.The operations team at Barakah have now commenced the operational readiness testing required to demonstrate the...

Abu Dhabi, UAE - The balance sheet of the Central Bank of the UAE (CBUAE) surpassed AED594 billion ($161 billion) by the end of March 2023, marking the largest level ever in its history, a CBUAE report has revealed.In its budget report for March 2023, the apex bank said that...

Abu Dhabi, UAE-- Abu Dhabi has succeeded in curbing the use of plastic bags by around 95 percent since the banning of the single-use bags in June 2022.The Environment Agency – Abu Dhabi (EAD) claims it has prevented over 172 million bags from entering the environment.In 2020, EAD introduced the...

Abu Dhabi, UAE  -- Abu Dhabi will host the Middle East premiere of the eagerly-awaited Mission: Impossible – Dead Reckoning Part One at a red-carpet event at Emirates Palace on June 26 to be attended by the movie’s cast and crew, including star Tom Cruise and director Christopher McQuarrie.Both the...

A consortium of companies, Masdar, Infinity Power and Hassan Allam Utilities have signed an agreement with Egypt to build a 10-gigawatt (GW) capacity onshore wind farm in Egypt, costing more than US$10 billion. The 10 GW plant will save Egypt some $5bn in natural gas costs a year.

ABU DHABI,  UAE - A high-level UAE delegation at the 66th session of the United Nations Committee on the Peaceful Uses of Outer Space (COPUOS) said the country believes in promoting a safe and sustainable outer space environment.The UAE delegation is headed by Omran Sharaf, Assistant Minister of Foreign Affairs...

Abu Dhabi, UAE - Foreign companies and other non-resident juridical persons will be subject to UAE Corporate Tax on income derived from real estate and other immovable property located in the UAE and will be required to register in the UAE for Corporate Tax purposes, the UAE Ministry of Finance...

Abu Dhabi, UAE - The adoption of  artificial intelligence (AI)  is critical to propelling diversification of economic growth in the United Arab Emirates, said managing director of Abu Dhabi Investment Authority. Sheikh Hamed bin Zayed Al Nahyan during his particiupation in the commencement ceremony of the Mohamed bin Zayed University...

DUBAI, UAE - US special climate envoy John Kerry has met senior Emirati officials in Abu Dhabi, including the head of the United Nations' upcoming climate change conference, official media reported on Sunday.The choice of Sultan Al Jaber, chief executive of the Abu Dhabi National Oil Company (ADNOC), to head December's...

ABU DHABI, UAE -  UAE Ministry of Economy organized two workshops, in Arabic and English, to promote the awareness of suspicious transactions among traders and business owners in the gold and precious stones sector.The workshops, through the Department of Anti-Money Laundering, also made the traders and business owners aware of...

Abu Dhabi, UAE--Emirates Development Bank (EDB) has signed a memorandum of understanding (MoU) with the Abu Dhabi Department of Economic Development’s Industrial Development Bureau (IDB) to continue its support of the Financial Ecosystem Programme.The MoU signing took place on the first day of the at Make It in the Emirates...

ABU DHABI, UAE - The Ministry of Industry and Advanced Technology (MoIAT) and MEXT signed a memorandum of understanding (MoU) to implement the UAE’s Industrial Technology Transformation Index (ITTI) and deploy the index overseas for the first time.The move is part of the UAE's efforts to accelerate decarbonization and digitalization...

Abu Dhabi, UAE - Eight new projects were announced on Thursday during the Make it in the Emirates Forum in Abu Dhabi. The Abu Dhabi Investment Office (ADIO) and its partners signed Memorandum of Understanding with high-growth companies covering key areas, including manufacturing, banking, oil & gas, pharmaceuticals, and healthcare...

Abu Dhabi, UAE - The UAE and Switzerland have discussed opportunities for cooperation between the Abu Dhabi Public Prosecution Office and the Swiss Public Prosecution Office and the means to develop the services provided.Ali Mohammed Alblooshi, Attorney-General of Abu Dhabi, met with Stefan Blatler, Attorney-General of Switzerland and Massimo Badji,...

ABU DHABI, UAE - UAE Ministry of Industry and Advanced Technology (MoIAT) has signed a Letter of Intent (LoI) with Shahin in a move towards sustainable industrial development and promoting electric mobility.The LoI, signed at the Make it in the Emirates Forum on Wednesday, underlines the country’s commitment to decarbonization...

Shares in UAE state oil company ADNOC's logistics unit soared 50 percent as they hit the market in a $769 million initial public offering on Thursday. The listing comes just weeks after ADNOC floated its gas unit in a $2.5 billion IPO in March.

Abu Dhabi, UAE -- Strata Manufacturing (Strata) and Mohammed Bin Rashid Space Centre (MBRSC) have established a local satellite component manufacturing of aluminium honeycomb panels for the first time. This partnership is a step towards localization.in the UAE's space industry.Strata Manufacturing will play a vital role by supplying locally built...

“Cities such as Dubai and Abu Dhabi have rapidly established themselves as the hospitality destination of choice for business and leisure. Emirates such as Ras Al Khaimah are also heavily investing in these sectors, offering international tourists diverse offerings across the leisure and entertainment sectors,” he adds.