Dubai, UAE - Dubai Islamic Bank launched DIB alt, a full-fledged digital umbrella brand to house all of the bank's digital offerings and capabilities under one roof. DIB ‘alt’ is a full-service transformative digital banking experience that is set to enhance the banking experience for DIB’s customers by many folds,...

More than 1.35 billion shares of the energy distribution firm were listed.

SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has successfully concluded its trade mission to India after five days of fruitful meetings and discussions with Indian business and industrial associations in New Delhi and Mumbai. The trade mission, organized by the Sharjah Exports Development Center, visited New...

"Transportation disruptions, market devastation and the absence of financing... will have catastrophic impacts on the food security of the people of Sudan and the surrounding region," said the head of the Khartoum-based Arab Organisation for Agriculture Development, Ibrahim al-Dakhiri. Although some farmers have sown crops like maize, millet or oilseeds...

Doha, Qatar--QatarEnergy, and its joint-venture partners TotalEnergies, Petrobras, and PETRONAS Petroleo Brasil Ltda. (PPBL) has signed the production sharing contract (PSC) for the Agua-Marinha block. The contract was awarded to the consortium on 19 December 2022 in the 1st Cycle Permanent Offer round by Brazil's National Agency of Petroleum, Natural...

Doha, Qatar-- Qatar Chamber and Turkish officials from the Trabzon Chamber of Commerce and Industry (TCCI) and the Manisa Chamber of Commerce and Industry (MCCI) have discussed ways to boost investment cooperation in a meeting in Doha. QC first vice-chairman Mohamed bin Twar Al Kuwari met at the chamber's premises...

The UAE energy minister Suhail Mohamed Al Mazrouei said he expected the outcome of meeting to "balance the market and ensure we are ready for any challenges in the future". Analysts expected OPEC+ producers to maintain their current policy, but signs emerged that staying the course might fall short of...

Riyadh, Saudi Arabia--Saudi Arabia has been re-elected to represent the MENA region on the board of the Global Research Council (GRC) during its 11th annual meeting in The Hague, The Netherlands. Dr. Munir Eldesouki, the President of King Abdulaziz City for Science and Technology, will continue to represent Saudi Arabia...

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...

SHARJAH, UAE- The fourth edition of Jewels of Emirates Show at the Expo Center Sharjah has so far seen record footfall as it runs into its third consecutive day. The event received an overwhelming response from visitors, with exhibitors unveiling a stunning array of exclusive and rare jewelry pieces. It...

BRUSSELS, BELGIUM -  The EU exported US$1.1 billion (€1.1 billion) worth of bicycles in 2022 (both electric and non-electric, a rise of 22 percent compared with 2021), according to Eurostat, the statistical office of the European Union on the World Bicycle Day. The imports were double the exports, with US$2.6...

Three major chemical manufacturers announced that they will pay nearly $1.2 billion to settle claims that they contaminated water sources across the United States with harmful "forever chemicals" known as PFAS. Chemours, DuPont and Corteva said that they had "reached an agreement in principle to resolve all PFAS-related drinking water...

PARIS, FRANCE - Renewable power capacity is expected to jump by a third this year globally as growing policy momentum, higher fossil fuel prices and energy security concerns drive expansion of solar and wind power, the International Energy Agency (IEA) said. The growth is set to continue next year with...

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) extended water transmission pipelines of 64 kilometers lengths in several areas here in 2022 at a cost of around US$97 million (AED 358 million). The pipelines have a diameters of 600, 900 and 1200 mm in different areas across Dubai. The...

Dubai, UAE - Middle Eastern airlines carriers posted a 38 percent increase in traffic in April compared to the same month in 2022, demonstrating a positive recovery trend in the aviation industry,  according to the latest report from the International Air Transport Association (IATA).  With a capacity increase of 27.8...

RAS AL KHAIMAH, UAE -  Ras Al Khaimah Economic Zone (RAKEZ) successfully participated in the second edition of the Ministry of Industry and Advanced Technology's (MoIAT) Make it in the Emirates Forum. The forum brought together industry leaders, government officials and prominent stakeholders to discuss the role of industrial zones...

Hiring in the United States heated up again in May, according to government data released, with the strong labor market defying expectations of a slowdown amid efforts to cool the world's biggest economy. The jobs market has been surprisingly robust even as regulators have worked to ease demand and tamp...

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...

The acquisition is expected to complete by early 2024.

Dubai, UAE -- French multinational aerospace and defense technologies company Thales has launched 'Go to UAE' initiative with the support of UAE's Ministry of Industry and Advanced Technology to promote Made-in-the-Emirates mark products and expertise worldwide, and developing a skilled local talent pool, as part of the Make it in...

The Saudi wealth fund will acquire a 30% stake in the gorcery chain.

Despite the rebound in sales of its flagship medium-haul 737 MAX last year -- giving the company its best delivery numbers since 2018 -- Boeing is pinning its financial hopes on the 787, after four consecutive years in the red. Recent months have finally seen an uptick in orders for...

SHARJAH, UAE - The fourth edition of the Jewels of Emirates Show, the first Emirati exhibition dedicated to diamond jewelry, gold, silver, pearls, luxury watches, and perfumes commenced here on Thursday. The Expo Center Sharjah with the support of the Sharjah Chamber of Commerce and Industry (SCCI) is hosting the...

US senators raced to pass a bipartisan debt limit deal approved overwhelmingly by the House of Representatives, with the worst-case scenario of an economy-cratering default seemingly avoided. The Treasury has warned it could run out of money to pay its bills by Monday, leaving no room for delays in enacting...

DUBAI, UAE -  The UAE is poised to play a pivotal role in global trade with its exports projected to reach around US$544 billion (AED2 trillion) by 2030, showcasing a robust annual growth rate of 5.5 percent. according to a Standard Chartered research study. The report, titled 'Future of Trade:...

Dubai, UAE -- First Abu Dhabi Bank (FAB) has raised $600 million from an offering of a five-year bond, which is the first green bond issued by a financial institution in the MENA region in 2023. The green bond was upsized to $600 million from the initial $500 million after...

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...

The state-owned hydrocarbon giant will supply 1.5 million tons annually starting in January 2026, the Qatari firm said at the signing ceremony in Doha. "It can reach up to 1.8 million tons annually under the contractual arrangement," said Qatari Energy Minister Saad Sherida al-Kaabi, who is also head of QatarEnergy.

Dubai, UAE -- The Investment Corporation of Dubai (ICD) has posted a net profit of AED 36.1 billion ($9.8 billion) for 2022, compared to AED 10 billion in 2021 due to a surge in business activities and higher oil prices. The Group, which is the main investment arm of the...

PARIS, FRANCE -  Renewable power capacity will grow by a record number this year as high fossil fuel prices and energy security concerns fueled the deployment of solar and wind systems, the International Energy Agency said on Thursday. Global additions of renewable energy capacity are expected to rise by 107 gigawatts...

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.

Following the shipment suspension and "as a result of the economic outlook, Nintendo of Europe has decided to wind down operations of its Russian subsidiary", the company said. Nintendo's eShop was already "under maintenance" in Russia because its payment provider had stopped ruble transactions.

The Middle East headquarters has been set up in Riyadh.

The net profit increased by 79 percent over Q1 2022.

"With some hardliners in the Republican party coming out against the agreement (in a vote due Wednesday), its passage through Congress could be bumpy," warned AJ Bell investment director Russ Mould. "Weak Chinese data also contributed to a subdued market mood with Asian stocks a little sickly."

Abu Dhabi, UAE - ADNOC signed deals with more than 60 UAE-based and international companies to locally manufacture key non-oil products in its supply chain, local media reports said. The deals were signed at the Make it in the Emirates Forum in Abu Dhabi, and bring ADNOC closer to its...

Under NYSE rules, shares must trade for at least $1 for 30 consecutive days.

Dubai, UAE -- The Central Bank of the UAE (CBUAE) Wednesday issued guidelines on the risks related to, and combating the use of, virtual assets (VA), such as cryptocurrencies and exchange tokens, and Virtual Asset Service Providers (VASPs) in money laundering and financing of terrorism. The guideline elaborates on various...

Riyadh, Saudi Arabia -- The number of small and medium enterprises (SMEs) in Saudi Arabia hit 1.2 million by the first quarter of this year, an increase of 4.8 percent over the fourth quarter of last year, while 89,000 new enterprises were launched during this period. The kingdom's General Authority...

Dubai, UAE -- Abu Dhabi National Energy Company (TAQA) ENGIE, a global leader in low-carbon energy solutions, and Emirates Water and Electricity Company (EWEC), announced the successful financial closing of the AED2.3 billion ($620 million) low-carbon Mirfa 2 Reverse Osmosis (M2 RO) desalination project. The project is primarily (78 percent)...

Abu Dhabi, UAE--AD Ports Group has signed a memorandum of understanding (MoU) with Abu Dhabi Residents Office (ADRO) to promote the benefits and initiatives which aim to attract and retain top talent in Abu Dhabi. The partnership will develop a joint strategy to inform relevant parties and employees about the...

Dubai, UAE - A  shell-and-core mega penthouse in Palm Jumeirah was sold for AED 220 million ($60 million) by Honey Deylami, making the deal the most expensive ever.  The penthouse sold is on the topmost floor of AVA at Palm Jumeirah, Dorchester Collection, spanning a built-up area of 33,406 sq...

Tehran, Iran-- Terming the UAE as a reliable trade partner, Iran's Foreign Minister Hossein Amir Abdollahian said bilateral between the two countries are developing in both government and private sectors. He made the remarks during a meeting with Khalifa Shaheen Al Marar, Minister of State of the UAE on Tuesday...

Dubai, UAE-- The UAE government has launched an AI-powered chatbot that allows users to access information about government services in one place in Arabic and English. The “U-Ask” platform, a unified AI-powered chatbot, is now available on the official portal of the UAE government. Using generative AI technology, the platform...

Chip company Nvidia exceeded $1 trillion in market value as Wall Street stocks mostly rose, following an agreement between President Joe Biden and Republican House Speaker Kevin McCarthy to avoid a US debt default. All three major indices rose, while Nvidia jumped over seven percent on its role in artificial...

Dubai, UAE - Standard Chartered will partner with the Dubai International Financial Centre (DIFC) in hosting the DIFC Treasury Leadership Forum, which will bring together senior treasurers from leading banks, multinationals and services providers to focus on how to optimize treasury operations for growth and the key trends shaping treasury...

The issue is part of the SAR 20 billion local sukuk program.

ABU DHABI, UAE  -  The Economic Integration Committee held its second meeting this year and discussed a range of key economic issues, including access to legislation supporting the growth of new economy sectors in the UAE. The meeting was chaired by Abdullah bin Touq Al Marri, Minister of Economy, and...

Stock markets wobbled as a deal to hike the US debt ceiling and avoid a painful default goes to a vote in Congress this week. President Joe Biden and House Speaker Kevin McCarthy hammered out an agreement that saw both sides give ground, a week before a June 5 deadline.

DUBAI, UAE -  UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei on Tuesday announced the launch of the Global EV Market, a transformational project as per the performance agreements signed by federal authorities in 2022. The project was signed in the presence of Sheikh Mohammed bin Rashid...