• UAE, NeoNautica collaborate to develop Blue Pass platform

    DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in technology and digital services for the maritime sector. This collaboration aims to develop and operate the UAE Blue Pass platform, which is dedicated to creating quality packages of privileges and...
  • UAE construction market soars to $94bn in 2023

    Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of more than 3% during 2025-2028, according to a report released by GlobalData, a data analytics and consulting company, headquartered in London. The growth is attributed to the increase in investments...
  • Abu Dhabi launches technology investment company MGX

    ABU DHABI, UAE – The Artificial Intelligence and Advanced Technology Council (AIATC) announced on Monday the creation of MGX, a technology investment company to enable the advancement and deployment of leading-edge technologies intended to improve the lives of current and future generations. Mubadala and G42 will serve as foundational partners...
  • Reliance, Disney announce giant India media merger

    The statement said Disney will hold 36.8 percent, Reliance will hold a 16.3 percent stake, and Viacom18 another 46.8 percent. "This is a landmark agreement that heralds a new era in the Indian entertainment industry," Ambani said. His wife, Nita Ambani, will serve as its chairperson.
  • Binaa Al Bahrain aims to create expansive mixed-use projects

    ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al Bahrain company aims to create expansive mixed-use projects, offering diverse residential, commercial and entertainment opportunities designed to elevate the overall local community experience. The JV was set up by an...
  • Saudi Arabia announces major gas discovery in Jafurah

    Riyadh, Saudi Arabia--Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz revealed on Sunday that an additional 15 trillion standard cubic feet of gas have been proven at Saudi state oil company Aramco's Jafurah field, in addition to 2 billion barrels of condensates. Reserves at Jafurah had reached 229...
  • American spaceship lands on moon, images expected soon

    The first American spaceship on the Moon since Apollo is "alive and well" following a drama-packed touchdown, the firm that built it said as it worked to download data and images from the uncrewed robot. "Odysseus is alive and well," Intuitive Machines, which achieved the first lunar landing by a...
  • Korea’s H2O sets up base in Abu Dhabi

    It will collaborate with Abu Dhabi Investment Office.
  • Lebanon judge charges Nissan employees for allegedly stealing Ghosn documents

    BEIRUT, LEBANON - A Lebanese judge has charged four Nissan employees with the theft of documents and devices from the Beirut home and office of the company's former boss Carlos Ghosn, a judicial source said on Saturday. A lawyer for the company told AFP the legal action was "unlawful" and that...
  • Naver profit jumps 129% in Q4

    The company said it posted a net profit of US$227.4 million.
  • Telefonica to cut 3,421 jobs

    The layoffs will reduce costs for the Spanish company.
  • Twitter breached contract on bonuses payment, rules US court

    SAN FRANCISCO, US - A US federal court ruled that social media company Twitter, now branded X, violated contracts by failing to pay annual performance bonuses it orally promised its workers. The breach-of-contract lawsuit was brought by former employer Mark Schobinger in June. The lawsuit said Twitter had promised workers a...
  • Silal and MBZUAI sign MoU

    The agreement will bring AI innovation to food production.
  • HPDC, HDC ink agreement

    The aim is to stimulate the growth of the halal industry.
  • Astra Tech to launch financial services powered by AI in 2024, says CEO

    ABU DHABI, UAE - CEO and Co-Founder of Astra Tech Abdallah Abu-Sheikh said that the company will launch its first financial services empowered by artificial intelligence (AI) in 2024. In statements to the Emirates News Agency (WAM) on the sidelines of the Abu Dhabi Financial Week (ADFW), Abu-Sheikh said that...
  • Aster to separate its India and GCC businesses

    Dubai, UAE - Aster, an integrated healthcare provider, is separating its India and GCC businesses, subject to regulatory and corporate approvals including Aster India’s shareholders’ approval. The separation plan will unlock value for the shareholders by allowing both the India and GCC businesses to adopt a market-focused strategy and create...
  • Elon Musk’s xAI to release first AI model to ‘select group’

    WASHINGTON, US - Elon Musk said his new artificial intelligence company would release a new AI model on Saturday to a "select group" of users as he looks to rival industry leaders OpenAI and Google. The release would be the first from Musk's new startup, xAI, that he launched in July...
  • UAE and Jordan sign MoU to boost investment cooperation

    Abu Dhabi, UAE--The UAE and Jordan have signed a memorandum of understanding (MoU) to create a framework for investment cooperation in key areas including infrastructure and development projects, while further strengthening the two countries’ enduring strategic partnership. The agreement was signed between the Ministries of Investment of the UAE and...
  • Burjeel Holdings profit surges

    Its revenue spiked to US$898m in the first 9 months of 2023.
  • Investcorp to float IPO

    The listing of shares on ADX is set for November 17.
  • NMDC posts bumper profits

    Its revenues for the first nine months stood at US$3bn.
  • Palms Sports posts Q3 profit

    Its revenues rose 77% to US$92m in the same period.
  • Najm inks pact with iot squared

    The aim is to advance insurance services in the Kingdom.
  • Sonatrach sacks CEO

    Algeria's president has named Rachid Hachichi as new CEO.
  • Crypto fund co-founder arrested, jailed in Singapore

    According to the company's liquidator, Su Zhu was detained at Singapore's Changi airport while trying to leave the city-state. He was one of the co-founders of collapsed cryptocurrency hedge fund Three Arrows Capital. The company filed for bankruptcy last year when its fortunes suffered a sharp decline after a massive...
  • Cisco buys Splunk for US$28bn

    Splunk is a software platform that uses AI to identify malware.
  • RSG gets Mostadam Diamond Certification

    The accolade recognizes RSG's commitment to sustainability.
  • Russian Post working on opening company in UAE, says CEO

    Vladivostok, Russia -- Russian Post is working on opening a company in the UAE, CEO Mikhail Volkov told TASS in an interview at the Eastern Economic Forum (EEF). "We are currently working on opening of a company in Dubai, the UAE, and are also considering other countries. We as logistical...
  • Agthia okays H1’23 interim dividend

    The interim dividend reflects the firm’s robust balance sheet.
  • Shams signs MoU with South Korean firm to develop media content

    Sharjah, UAE--Sharjah Media City (Shams) has signed a memorandum of understanding (MoU) with Munhwa Broadcasting Corporation (MBC), the largest television and radio broadcasting company in South Korea. The partnership aims to strengthen cooperation between Shams and MBC Korea through enhanced media content business development, benefiting from the expertise and exchange...
  • Borouge’s PP5 unit generates $209m sales in H1 2023

    ABU DHABI, UAE - Borouge's Chief Operating Officer Dr. Hasan Karam has said the fifth polypropylene unit (PP5) played a significant role in H1 2023, contributing US$209 million (AED767 million) representing 22 percent of the company's propylene sales and 10 percent of our overall turnover. In a statement to the...
  • Jadwa buys stake in Gissah

    The investment bank bought a 35% stake in Kuwaiti firm.
  • Meeza to list on QSE

    Its shares will begin trading on the bourse later this month.
  • QCB to grant licenses to website providers for comparing prices of insurance policies

    Doha, Qatar--Qatar Central Bank (QCB) has exhorted companies willing to work in providing website services to compare prices of insurance policies to promptly submit applications to receive the required license from the bank. In a statement on Saturday, QCB outlined that this announcement comes in alignment with financial sector and...
  • ADX profits vault to $11.70bn

    It posted gains in one week on the back of company results.
  • Huawei H1 revenue at US$43.3bn

    The firm works to diversify its business operations.
  • Bupa Arabia H1 2023 net profit $149m

    Rise was driven by a jump in insurance revenue.
  • SALIC buys 10.7% stake in BRF

    The deal is worth US$266 million (SAR1.27 billion).
  • Qatari small and medium-sized companies sign deals worth US$201m in H1

    Doha, Qatar--Small and medium-sized companies in Qatar have signed deals worth $201 million during the first half of 2023, benefiting from the various services of the Qatar's Export Development & Promotion Agency (Tasdeer). In a report, Tasdeer highlighted the momentum witnessed by the participation of small and medium-sized companies in...
  • ROSHN inks MoU with Expro to develop real estate in Saudi Arabia

    Riyadh, Saudi Arabia--ROSHN, the Saudi real estate developer, has signed a memorandum of understanding (MoU) with the Expenditure and Project Efficiency Authority, known as Expro, to develop real estate in the kingdom.  The MoU looks to improve the efficiency and sustainability of the Public Investment Fund-backed giga-project, as well as boost...
  • AD Ports Logistics signs deal with Acino for freight services

    Abu Dhabi, UAE-- AD Ports Logistics (ADPL) has signed an agreement with Acino to provide the Swiss company with global freight-forwarding services, inclusive of sea and air transport in the Middle East and North Africa (MENA) region. The agreement will see ADPL leverage its fully integrated and GDP-certified end-to-end pharma...
  • Al Sada to be chairman of Rosneft

    The shareholders elected a new board of directors as well.
  • DFM adds new investor accounts

    The brokerage firms added 26,953 new accounts in H1.
  • AD Ports Group, Premier Marine set up a JV SAFEEN Drydocks

    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...
  • Siemens Energy shares fall due to technical problems at wind turbine unit

    FRANKFURT, GERMANY -  Shares in Siemens Energy plummeted on Friday after the company warned that technical problems at its wind turbine unit were worse than previously thought. The group scrapped its full-year profit target and said it was setting aside more than US$1.1 billion (1 billion euros) over the coming years...
  • UAE to deepen economic tie-ups with various world countries: Sheikh Saud

    St. Petersburg, Russia-- The UAE is seeking to strengthen economic cooperation with many countries in the world in order to ensure a sustainable and prosperous future for generations to come. This was stated by Sheikh Saud bin Saqr Al Qasimi, supreme council member and ruler of Ras Al Khaimah, in...
  • Sharjah Taxi transports 1.465m passengers in Q1 2023

    Sharjah, UAE - Sharjah Taxi reports successful transport of 1.465 million passengers during the first quarter of 2023. With a fleet of 750 vehicles of various models and brands, the company remains committed to ensuring passenger satisfaction, safety, and comfort. Khalid Al Kindi, the Executive Director of Sharjah Taxi, emphasized...
  • Dubai Municipality unveils new online system for building permits

    Dubai, UAE-- Seeking to enhance the emirate's position as a global pioneering city in adopting the latest technology in the building sector, Dubai Municipality has launched a new online system for building permits and control services aimed at streamlining procedures for customers in the emirate. The system is aligned with...
  • Saudi PIF forms $3 billion company for investments in Iraq: CEO

    Muteb Alshathri, acting CEO PIF, told the Saudi-Iraqi Coordination Council in the kingdom that the Saudi-Iraqi Investment Company will invest in mining, real estate, infrastructure, mining, agriculture and financial services. In October last year, the fund announced it will establish five companies aimed at investing in Bahrain, Iraq, Jordan, Oman...
  • CBUAE ‘removes’ board of directors of insurance company

    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...