International oil prices surged by around 36.5 percent and reached a 7-year peak, exceeding US$ 82 a barrel at the end of November 2021, the highest since October 2014.

Renewable energy company Masdar will be developing Georgia's largest solar power plant, with a capacity of 100 megawatts (MW), jointly with Georgian Energy Development Fund (GEDF). GEDF is a joint-stock company, founded by the Ministry of Economy and Sustainable Development, and wholly state-owned. Georgia, which primarily relies on hydropower for...

AD Ports Group has signed an agreement with China-based Shandong Port Group, to establish a Tyre Hub at KIZAD for the storage and distribution of tires. AD Ports Group will provide space for an upcoming 150,000 sqm facility in KIZAD under its Industrial Cities and Free Zone Cluster. This will...

M&As result in savings in manufacturing and service, increased competitiveness, and increased financial capabilities and efficiency, among other things.

Aviation giant Emirates said Thursday it expects business to grow next year despite the surge in global coronavirus cases fueled by the Omicron variant. The Dubai-based carrier said in November it was already on the path to recovery as six-month losses dropped by more than half from a year earlier....

The repayment four years and seven years early totaled $361 million.

The contract is for the Shamal Development marine works.

As the startup ecosystem takes off in the MENA region, TRENDS helps experts deliver valuable advice for entrepreneurs.

Biogen is known for its Alzheimer’s drug Aduhelm.

Dana Gas has received a payment of $39 million (AED143 million) from the Egyptian Government in December, the company announced Wednesday. The payment reduced its receivables in Egypt to its lowest levels at below $30 million since commencing operations there in 2007, local media reports said. It complements a year...

The Saudi Authority for Intellectual Property (SAIP) has designated the National Intellectual Property Administration of China (CNIPA) as International Searching Authority and International Preliminary Examining Authority under the Patent Cooperation Treaty (PCT), allowing international patent applicants in the kingdom to select CNIPA to issue international search reports for their applications....

The deal is expected to close in the first half of 2022.

The "robot chef", which is the size of a large oven, can make three different steaks simultaneously -- though a human staff member makes up the burgers.

Dubai Chamber has announced that it will shift to a four-and-a-half day working week  from 3 January 2022. This is in line with the newly approved workweek for UAE federal government employees. The official working hours will be nine working hours per day Monday-Thursday, from 8am to 5pm, and four...

Kuwait's leading Islamic bank, Warba Bank, celebrated the listing of the bank's $250 million perpetual Tier-1 Sukuk on Nasdaq Dubai with the ringing of the market-opening bell by its CEO Shaheen Al-Ghanem. Emirati media reports said this is the third Sukuk listing by Warba Bank on Nasdaq Dubai, following the...

The airline will work with the Henan Province Airport Group.

The Saudi Central Bank "SAMA" has released a public consultation on rules for regulating the business of real estate refinance companies. The release comes in continuation of SAMA's efforts to develop the financial sector and to keep abreast with developments of the financing industry in general, Saudi media reports said....

Abu Dhabi Global Market (ADGM) has announced that it will commence a Monday to Friday working week from 1 January 2022, with Saturday and Sunday as the universal weekend. ADGM said in a statement that the new working week brings the emirate's business community and financial sector closer to global...

No Way Home has grossed $467.3 million in North America and $587 million internationally since its release earlier this month.

The Chinese real-estate firm has $300 billion in liabilities.

As ecommerce expands, companies are becoming more aware of the region's shifting consumer behavior and needs, say experts.

KPMG International announced annual aggregated revenues for KPMG firms globally of $32.13 billion for the fiscal year ending 30 September 2021. Reporting a 10 percent increase in US dollar revenues from 2020, this follows an extensive period of investment and focus on priority services and solutions addressing the challenges faced by...

Fireworks and laser lights were launched to announce the new record as pavilion’s employees and public gathered in the ‘opportunities’ zone, with more visitors flocking in to celebrate the occasion.

Dubai’s Department of Economy and Tourism (DET) has launched an online portal that provides a ‘One-Stop-Shop’ for timeshare operators to register and apply for permits and provide insights and guidance to customers and tourists. Local media reports said the Timeshare Portal supports the legal framework created by Dubai’s new Timeshare...

Spain and UAE have reviewed Dubai Electricity and Water Authority's achievements besides key projects and cooperation in the clean and renewable energy sectors. The two sides also discussed initiatives and programs that consolidate the transition towards a green economy and sustainability at a meeting in which said DEWA CEO Saeed...

Inspectors also visited a total of 193 restaurants and cafes and took required measures against 17 outlets.

More than 6,000 flights have been canceled worldwide over the long Christmas weekend and thousands more were delayed, a tracking website reported on Sunday, December 26, as the highly infectious Omicron variant of Covid-19 brought holiday hurt to millions of fliers.

The two sides talked about Expo 2020 Dubai and the importance of the Arab countries' participation therein.

In the Middle East, Saudi Arabia, Egypt, and the UAE account for nearly 80 percent of the overall ecommerce market.

Grankraft has leased 323,000 sq ft of land in the free zone.

The Abu Dhabi index recorded a weekly loss of 4.8 percent, its deepest plunge since March 2020.

It will sell only small-sized French fries for a week.

Estimates from the American Automobile Association revealed more than 109 million Americans were scheduled to travel by plane, train or car between December 23 and January 2, a 34 percent increase since last year. But most of those plans were made before the outbreak of the Omicron variant, which has...

The fine was for repeatedly failing to delete ‘illegal’ content.

Google, Lenovo, and Intel are the latest global tech companies to bow out of the January 2022 Consumer Electronics Show in Las Vegas.

The terms of the transaction were not disclosed.

From the period running December 22 to January 2, Abu Dhabi Airports estimates an average of 32,000 passengers and 102 flights per day.

Iran has agreed to accept Ceylon tea in payment for a Sri Lankan oil debt valued at $251 million, Iranian media reported Thursday. "In recent negotiations, we reached a written deal to reimburse Iran's debt and interest on it in the form of a monthly shipment of tea produced in...

The UAE Innovates 2022, which is aimed at cultivating a culture of innovation within the public sector and engaging the community to help create future initiatives, will be launched on 1 Feb. 2022. It is expected to witness a joint effort by the government, the private sector and individuals to...

Jordan and Saudi Arabia have discussed the ways to increase the exchange of crops and foodstuffs between the two countries. Jordan's Minister of Agriculture Khaled Hneifat met a delegation of the Saudi Ministry of Agriculture, Environment and Water to discuss the importance of exchanging joint expertise to develop the agricultural...

The results of the operational performance analysis also reflect the Free Zone’s distinct position in the emirate's export and re-export landscape, as it contributed 36 percent to the total export and re-export activities during the first nine months of 2021. It is also due to the logistic advantages and strategic...

The biopharma campus is expected to be set up in Abu Dhabi.

Minister of Transport Jassim bin Saif Al Sulaiti, and Minister of Transport of the Republic of Iraq Nasser Hussein Bandar Al Shibli, visited Doha Metro project where they were briefed on the operations of the metro stations, and also about the components of the project from officials at the Qatar...

The Saudi Ports Authority (MAWANI) has announced a new direct shipping service connecting Saudi Arabia to Djibouti, through the container transport company, Transmar. Saudi media reports said the service is an important development that serves to leverage the potential of the kingdom's ports, bolster its petrochemicals exports and transshipments, and...

The UAE is one of the most attractive Gulf Cooperation Council (GCC) countries for GCC citizens to work in, according to the 2021 statistics released by the General Pension and Social Security Authority (GPSSA). A total of 6,903 employees from GCC countries work in the UAE, out of the total...

The two companies announced on Wednesday a $3.6 billion (AED13.22 billion) strategic project to significantly decarbonise ADNOC’s offshore production operations, further strengthening their position in driving and leading sustainability efforts and supporting the UAE ‘Net-Zero by 2050 Strategic Initiative’.

What makes Dubai a tourist hub and an essential market for sustainable surfing is the region’s proximity to the sea? Okahina Wave's CEO Laurent Hequily has answers.

The Sharjah Executive Council (SEC) has approved a draft Emiri decree on organizing the Sharjah Classic Cars Club, and a draft Emiri Decree on organizing the Sharjah Self-Defense Sports Club, local media reports said. The aim of the decrees is to develop the legislative structure of the sports sector and...

The UAE is the most popular destination in the world for Indian tourists, according to figures submitted to Indian Parliament by the Minister of State for External Affairs, V Muraleedharan. The Minister Muraleedharan confirmed that 314,495 Indians left on tourist visas for the UAE in the first quarter of this...

Dubai’s real estate market recorded 246 sales transactions worth AED610.89 million ($166 million) and mortgage deals of AED151.82 million in addition to 10 gift transactions amounting to AED17.58 million Monday, data released by the emirate’s Land Department (DLD) showed. Local media reports said the sales covered 223 villas and apartments...