Neom, Saudi Arabia -- Saudi Arabia's futuristic city NEOM says it has outlined a clear path towards the at-scale production of green hydrogen in NEOM for the global market. The NEOM Green Hydrogen Company (NGHC) facility being built in Oxagon is set to be the world’s largest commercial-scale green hydrogen...

ISMAILIA, EGYPT -  A cargo ship ran aground on Thursday in Egypt's Suez Canal before it was quickly refloated without interrupting traffic, the authority in charge of the vital waterway said. The Hong Kong-flagged Xin Hai Tong 23 bulk carrier was refloated after "a sudden malfunction of the machinery" while it...

Riyadh, Saudi Arabia--The GCC has called for the strengthening of trade and investment relations with the United Kingdom amid the ongoing negotiations over a GCC-UK free-trade agreement. The call was made by the organization's secretary general Jassem Mohamed Albudaiwi during a meeting with Kemi Badenoch, UK business secretary in Riyadh...

Tehran, Iran-- Iran seeks economic integration and multilateralism in international relations, according to the Islamic Republic's President Ebrahim Raisi. The president made the remarks upon his arrival in Tehran, returning from Indonesia after a two-day visit there. "Our relationship with different countries is based on regionalism and neighborhood policy," he...

Abu Dhabi, UAE--Abu Dhabi Housing Authority has joined hands with Q Holding to build new housing projects in West Baniyas and Al Samha regions at a cost of more than $1.90 billion. As per the terms of the agreement signed between the two, the company will design and implement both...

Dubai, UAE -- Dubai's real estate market recorded real estate deals worth AED 5.1 billion ($1.38 billion) on Tuesday and Wednesday, Dubai Land Department data shows. A total of 500 sales transactions worth AED1.21 billion were recorded on Wednesday, in addition to 103 mortgage deals totaling AED267.86 million, and 73...

Sharjah, UAE - The upcoming fourth edition of the Jewels of Emirates Show, the UAE’s first of its kind showcasing diamond jewelry, gold, silver, and luxury watches, is set to become the largest in the event's history. Sharjah Expo Centre has organized the event scheduled to run from June 1-4,...

Development and operation of the Mirfa 2 Reverse Osmosis Independent Water Project, and the running of six power and water plants in the country are also a part of ENGIE's investments.

Dubai, UAE -- ADNOC and Abu Dhabi National Energy Company (TAQA) Wednesday announced the award of a strategic investment project estimated at up to $2.4 billion (AED 8.8 billion) to provide sustainable water supply for ADNOC’s onshore operations. The project will develop a centralized seawater treatment facility and transportation network...

Abu Dhabi, UAE -- AD Ports Group and Brazil's Vale, the world's largest producer of iron ore and nickel, sign an MoU to develop a Mega Hub in Abu Dhabi for industrial complexes that produce low-carbon products for the steelmaking industry for both the local and seaborne markets, with a...

The victim, surnamed Guo, received a video call last month from a person who looked and sounded like a close friend. But the caller was actually a con artist "using smart AI technology to change their face" and voice, according to an article published Monday by a media portal associated...

Dubai, UAE -- A 22 percent drop in net profit was reported by Tadawul-listed companies in the first quarter of 2023, from SAR 186.24 billion ($49.66 billion) in the same quarter in 2022 to SAR 145.72 billion this year. Argaam reported the decline in net profit was due to a...

As growth at Netflix cooled last year, the Silicon Valley-based streaming giant set out to nudge people watching for free with shared passwords to begin paying for the service without alienating subscribers. The launch of an ad-subsidized offering around the same time as a crackdown on password sharing is no...

Sharjah, UAE--In order to create a competitive and diversified economy, the Sharjah Economic Development Department (SEDD) has reorganized many economic activities to be conducted in certain areas. This amendment comes in line with the economic vision of the government of Sharjah to achieve well-being and prosperity for citizens and residents....

The tie up, announced on Wednesday, comes in the run-up to this weekend's Monaco Grand Prix with Aston Martin a surprise second to world champions Red Bull in the constructors' standings. That lofty position is in no small part down to Fernando Alonso, the two-time former champion who has made...

Dividends across the world spiked 12% in Q1 compared to the same period in 2022, which was already an all-time high, according to the report by asset management firm Janus Henderson. "The dividend growth is all the more impressive considering that 2022 was a difficult year because of high inflation...

Riga, Latvia--Al Dahra Group has signed a supply agreement with Golden Fields, an Estonian agriculture company specializing in the production of premium quality animal feed grown in the Baltic region. At an event in Riga attended by government officials, farmers, and businesses from Lithuania, Latvia and Estonia, Al Dahra Group...

Doha, Qatar-- Qatar is keen to obtain rights for oil and gas exploration in Iraq, according to Iraq's oil minister who was speaking at the Qatar Economic Forum. Iraqi Oil Minister Hayan Abdel Ghani confirmed that Qatar is interested in participating in obtaining rights for oil and gas exploration in...

The company will collaborate with US tech firm Broadcom in order to make "cutting edge" parts for wirelessly connecting to high-speed 5G telecom networks. Apple however did not specify how many billions of dollars it would be putting into the alliance, but said it is part of a commitment to...

Kuwait: Tanishq from the House of Tata is showcasing its range of gold and diamond jewellery at the Gold and Jewellery in Kuwait City taking place from 24-29 May at Kuwait International Fairs Ground. An important platform for designers, global jewellery retailers, wholesalers, and suppliers, the highly regarded annual event...

DOHA, QATAR -  Qatar Airways' chief executive on Tuesday doused hopes that the aviation industry can become carbon neutral by 2050, saying he was "very skeptical" about the target. Not enough sustainable aviation fuel is being produced, and technological hurdles remain to using hydrogen as a replacement, Akbar Al Baker told...

Meta had purchased Giphy in May 2020 for $315 million.

LONDON, UK -  British Business and Trade Secretary Kemi Badenoch will hold talks for a modern, comprehensive trade deal as she visits Qatar, Saudi Arabia and the United Arab Emirates this week, according to a press release issued by the UK Embassy in the UAE. Meeting her ministerial counterparts in...

BERLIN, GERMANY — No employee should be “subject to the will of a machine”, European trade union chief Esther Lynch has warned, calling for regulation to ensure humans remain in control as artificial intelligence technology advances at breakneck speed. In the same way that European Union treaties protect health and...

The firm's net profit in Q1 2022 was $1.57bn versus $46m in Q1 23.

SHARJAH, UAE -   The Sharjah Chamber of Commerce and Industry (SCCI) has discussed strengthening trade and economic ties with diplomatic delegations from Guatemala and Indonesia. The discussions focused on amplifying bilateral relations in industry, agriculture, food security, livestock and broadening trade exchanges and organizing events to promote local products and...

The decision came a day after ADNOC raised the size of the offering.

Indonesia and Iran signed a trade agreement in Jakarta where President Joko Widodo hosted his Iranian counterpart Ebrahim Raisi. Tehran is aiming to boost its international trade. Raisi's two-day visit to Indonesia, Southeast Asia's biggest economy, comes in the shadow of fresh European Union sanctions this week on Iran's Revolutionary...

After their latest get-together on Monday, the Republican Speaker said: "I felt we had a productive discussion. We don't have an agreement yet, but I did feel the discussion was productive in areas (where) we have differences of opinion." He added that negotiators would "work through the night" to move...

Abu Dhabi, UAE--The Central Bank of the UAE (CBUAE) has removed the board of directors of an insurance company operating in the UAE and replaced it with a temporary committee of experts for six months. The central bank, however, didn't disclose the name of the insurance company, and what led...

Tehran, Iran-- Less than a year after signing a preferential trade agreement (PTA) with the UAE, Indonesia will sign a similar treaty with Iran during the ongoing visit of the Islamic Republic's President Ebrahim Raisi to the country. The deal is intended to improve trade relations and boost the trade...

The two countries have in recent years ramped up economic cooperation and diplomatic contacts, with their strategic partnership having only grown closer since the invasion of Ukraine. Last year China became the top energy customer for Russia, whose gas exports had otherwise plummeted after a flurry of Western sanctions over...

Dubai, UAE-- The UAE has signed a memorandum of understanding (MoU) with Microsoft and PricewaterhouseCoopers (PwC) to set up the "UAE Centre for Government Digital Excellence." The centre will look to support the government’s digital transformation, enabling government authorities to benefit from the best global practices and modern technologies to...

Paris, France -- Athletes have joined the clamor of criticism at the high cost of tickets for the 2024 Paris Olympics, decried as undermining organizers' promises of a Games accessible to all. Phase two of sales got underway on May 11, with nearly 1.5 million individual tickets available, after over three...

Abu Dhabi, UAE --Abu Dhabi National Oil Company (ADNOC) Monday said it has increased by the number of shares offered in the initial public offering (IPO) of ADNOC Logistics and Services by 4 percent on high investor demand across all tranches. ADNOC will now offer 1.40 billion ordinary shares, equivalent...

Meta said it was "disappointed to have been singled out" and the ruling was "flawed, unjustified and sets a dangerous precedent for the countless other companies". "We intend to appeal both the decision's substance and its orders including the fine," Meta president of global affairs Nick Clegg and chief legal...

Cairo, Egypt - The UAE International Investors Council (UAEIIC) and Egyptian-Emirati Business Council (EEBC) will work together to enhance the existing investment partnerships, local media reports said. The two signed an MoU regarding the same, which also includes creating more investment opportunities in the new economy, green projects, recycling, clean...

Abu Dhabi, UAE - AD Gaming has expanded its gaming ecosystem by welcoming MY.GAMES to Abu Dhabi, marking the latest multinational gaming business to select the emirate as its regional hub. Headquartered in Amsterdam, MY.GAMES is a leading publisher and developer of mobile, PC, and console games, with over one...

The merged firm will have a combined revenues of $3.4bn.

The firm will manufacture pipes for the global energy giant.

Dubai, UAE -- Brazilian exports to Arab countries during the first four months of this year have increased by 10.33 percent, reaching $5.69 billion, compared to $5.162 billion during the same period last year, the Arab Brazilian Chamber of Commerce (ABCC) said. The top destination for Brazilian exports during this...

The company posted a net profit of $111 million.

Dubai, UAE--Dubai Electricity and Water Authority (DEWA) is looking to cooperate with World Smart Sustainable Cities Organization (WeGO) in urban sustainability, smart technologies and innovate solutions in order to achieve sustainable development goals. In this regard, Saeed Mohammed Al Tayer, MD and CEO of DEWA welcomed a high-level delegation from...

Its profit was US$1.5bn in the 12 months to the end of March.

Cairo, Egypt--Egypt's President Abdel Fattah el-Sisi and Oman's Sultan Haitham bin Tareq reviewed bilateral relations and regional issues in talks in Cairo on SUnday. The two leaders shared views on the importance of intensifying efforts to protect the interests of Arab peoples, Presidency Spokesman Ahmed Fahmy said. Before the summit...

Amman, Jordan-- Jordan and Iraq have discussed ways to boost bilateral cooperation in order to develop trade through Karama border crossing. The discussions were held in a meeting between Jordanian and Iraq ministers in Baghdad, which also focused on ways to combat terrorism, extremism, enhancing border security, countering smuggling and...

Abu Dhabi, UAE-- Mubadala will continue to advance the UAE's knowledge-based economy in a way that contributes to solutions for critical global challenges in sectors such as health innovation, the climate emergency and future energy sources. This was stated by Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime...

SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) announced it will be sending a trade mission to India from May 29 to June 2, 2023. Led by the SCCI's Sharjah Exports Development Center, the initiative aims to bolster economic and trade cooperation, foster mutual investment, and establish...

Iran said it is capable of ensuring the safety of the vital Gulf waters in cooperation with neighboring countries. Iran and its neighboring countries are capable of cooperating for the security of the Persian Gulf, Strait of Hormuz and Sea of Oman," Iran's Chief of Staff of the Armed Forces,...

DUBAI, UAE -  Art Dubai, the leading international art fair for the Middle East and Global South, on Sunday announced that the five-day event, held on March 1-5 2023, has provided a direct economic impact of US$39 million (AED143 million) to the city. New figures revealed in the Economic Impact...