The agreements signed with SPPC are valued at $3.9 billion.

Vienna, Austria--The UAE's non-oil economic activities continued to see robust performance and are expected to extend healthy development into 2024, the Organisation of the Petroleum Exporting Countries (OPEC) said. In its OPEC Monthly Oil Market Report for November 2023, the organisation anticipated the upward trend in non-oil activities to continue...

Dating from 1962, the legendary Scuderia sports car -- chassis 3765, four-liter engine developing 390 horsepower -- had finished second in a race of 1,000 kilometers (620 miles) on the German Nurburgring circuit. Restored and modified, the 250 GTO changed American owners several times before ending up in the hands...

Istanbul, Turkey - Turkish Airlines, the country's flag carrier, confirmed on Monday that it was in talks with Airbus to buy up to 355 jets in a huge push to expand its fleet. "Negotiations are held with Airbus regarding the purchase of a total of 355 aircraft -- 240 of which...

It will acquire 84 percent stake for US$12.3 million.

Emirates, the Middle East's biggest airline, made the largest purchase with its $52 billion order for 55 Boeing 777-9s, 35 777-8s and five 787 Dreamliners. The 777-9s are expected for delivery in 2025 and the 777-8s are scheduled for 2030.

Riyadh, Saudi Arabia — The Public Investment Fund (PIF) has formally announced the signing of a share subscription agreement to infuse capital into Alkhorayef Petroleum, a subsidiary of Alkhorayef Group. Through this agreement, PIF secures a 25 percent shareholding in the oil and gas production optimization solutions provider, with Alkhorayef...

The bank marked the issuance of its $500 million green sukuk.

This is the toll operator's highest Q3 revenue since 2007.

This will help HR teams improve business operations.

The pact is aimed at integrating smart weapons into MQ-9B.

SHARJAH, UAE – A total of 3,798 transactions were conducted here in October 2023 across various regions of the emirate, amounting to US$980 million (AED3.6 billion) in trade value and involving 8.2 million square feet, the Sharjah Real Estate Registration Department said in a report.   This surge reflects a...

Dubai, UAE -- Dubai Taxi Company Monday announced its intention to proceed with an Initial Public Offering (IPO) and to list its ordinary shares for trading on the Dubai Financial Market (DFM). In a statement on Monday, the company said that 624.750 million shares, each with a nominal value of...

Across the arid region, in which conventional agriculture is beset by many challenges, insect farming for livestock feed is perceived as a sustainable path for a secure food supply.

Istanbul, Turkey-- The Gulf Cooperation Council (GCC) is keen to enhance economic cooperation with Turkey, according to its Secretary General Jasem Mohamed Albudaiwi. The secretary general stressed that the GCC Ministerial Council, which held its 155th session in March this year, resumed the strategic dialogue with Türkiye, and adopted the...

DUBAI, UAE – The biggest edition of the Dubai Airshow, a significant global event for the aerospace, space and defense industries, will begin here on Monday. Under the theme ‘The Future of the Aerospace Industry’, the 18th edition of the event, which runs till November 17, will see industry trailblazers...

Riyadh, Saudi Arabia -- The Saudi Power Procurement Company (SPPC) has released request for qualification (RFQ) for the fifth round of solar projects under the National Renewable Energy Program (NREP) which is led and supervised by the Ministry of Energy. The combined capacity of Round 5 projects is approximately 3700...

DUBAI, UAE – The Dubai Land Department (DLD) is committed to providing property owners with easily accessible resources to reinforce transparency within the real estate market and promote adherence to relevant laws and regulations. The official list of accredited companies and valuation offices is available on DLD’s official website (dubailand.gov.ae)...

The stake in its Turkish subsidiary BBT was sold to Rawabi Holding.

PIF, SEC JV's brand name for EV infrastructure is EVIQ.

Paris, France-- The UAE has made a fervent appeal to members of the United Nations Educational, Scientific and Cultural Organization (UNESCO) to join the country and its group of friends to lead climate efforts on the occasion of the UAE hosting COP28 in Expo City Dubai from 30th November to...

PARIS, FRANCE -  A high-level Saudi delegation attended the Riyadh Expo 2030 Symposium, on the outskirts here, hosted by the Royal Commission for Riyadh City, responsible for the Kingdom's bid to host the World Expo in 2030. The event took place in Meudon on Monday in the presence of representatives...

The two companies will invest up to US$1.5 billion.

Riyadh, Saudi Arabia--The Saudi Food and Drug Authority (SFDA) and South Africa’s Department of Agriculture, Land Reform and Rural Development have signed a protocol of health and technical requirements for imports of cattle, sheep, and goat meat. The protocol aims to accredit the regulatory body in South Africa by the...

Dubai is actively implementing climate adaptation strategies and technologies in transportation and infrastructure to mitigate climate change effects and enhance the city's resilience.

The company posted an operating profit of US$1bn.

The revenue was driven by demand for electricity, water.

Tokyo, Japan - Japan's government said on Friday that it plans to spend 2 trillion yen ($13 billion) to boost domestic production of strategically important semiconductors and generative AI technology. The planned outlays will include 700 billion yen ($4.6 billion) to support the construction of a Taiwan Semiconductor Manufacturing Company (TSMC)...

Dubai, UAE -- The total value of real estate transactions conducted in Dubai during the week ending 10 November 2023, exceeded AED 10.3 billion ($2.80 billion), according to figures released by the Dubai Land Department (DLD). The DLD report showed that 1,782 sales transactions worth AED7.4 billion were conducted, with...

Doha, Qatar - The real estate market in Qatar witnessed a significant surge in trading activity as the Department of Real Estate Registration at the Ministry of Justice reported QR 220 million ($60.42 million) in sales contracts from Oct 29 to Nov 2, 2023. According to the latest Real Estate...

The EBITDA increased by 28% YoY to $303 million in the third quarter.

Riyadh, Saudi Arabia -- Al Moammar Information Systems Co. (MIS) recorded a net profit of SAR 26.7 million ($7.1 million) in the first nine months of 2023, down from SAR 46.5 million ($12.39 million) in the prior-year period. The lower profit was attributed to an increase in impairment loss on contract assets...

Samsung is the world's largest smartphone maker accounting for a fifth of global sales between July and September, as Apple trails in second with 16 percent of the market, according to market tracker Counterpoint. Speaking to a foreigner using the new AI feature will be "as simple as turning on...

This is due to the successful launches of new projects.

The profits nearly doubled on solid demand for cancer treatments.

The emirate’s solar energy capacity has increased by over 100 times in the past decade, and the cost of solar energy has fallen dramatically. It is now one of the cheapest places in the world to generate solar power.

The operating income of the group rose to US$234 million.

The profit was 138% higher than the $1.2 billion in H1 2022.

The final orderbook of the green sukuk closed at $2.6 billion.

The company net profit for July-September sank 29 percent

Profitability dropped 22% due to lower realized prices.

The bump in subscription came amid its cost-cutting campaign.

Amlak's total income for the third quarter decreased by 19%.

Manama, Bahrain--Export Bahrain and Alibaba.com have signed a memorandum of understanding (MoU) to boost global trade and economic growth in Bahrain. The MoU signed during the 6th China International Import Exhibition held in Shanghai, will enable Export Bahrain and Alibaba.com to leverage their respective strengths and expertise to facilitate trade,...

Sharjah, UAE-- In a groundbreaking move to strengthen ties with burgeoning markets in Africa, the Sharjah Exports Development Centre (SEDC) is spearheading a trade mission to Uganda and Kenya. This strategic venture aims to bolster economic and investment cooperation, paving the way for a new era of business opportunities. Under...

Doha, Qatar - The International reserves and foreign currency liquidity of Qatar Central Bank (QCB) surged by 11.73% in October 2023 to reach $67.04 billion, compared to $59.97 billion in October 2022. The figures issued by QCB on Wednesday showed an increase in its official reserves at the end of...

It posted a five-percent decline in revenues to US$367m.

Brent crude, the main international contract, briefly dropped more than 2 percent to hit $79.80, before bouncing back above $80 per barrel. Meanwhile, the main US contract, WTI, slumped as far as $75.44 per barrel, also hitting its lowest level since July.

Dubai, UAE - Dubai Investments, the leading investment company listed on the Dubai Financial Market (DFM), acquired additional 7.68 percent equity stake in Monument Bank Limited, a UK Based Digital Bank regulated by the Financial Conduct Authority (UK) and the Prudential Regulation Authority (UK). This increases the Group’s holding in...

The firm said unfavorable market conditions affected margins.