Abu Dhabi, UAE -- The Central Bank of the UAE (CBUAE) said Thursday cash deposits surged to AED 687.2 billion ($187.2 billion) this October, marking a substantial annual increase of 10.2 percent, or AED 63.7 billion, compared to AED 623.5 billion in October 2022.The Central Bank's cash aggregates statistics reveal...

The United States pushed to build up a multinational naval task force to protect a key global shipping lane from Yemen's Houthi rebels.. The Iran-backed Houthis say their missile and drone strikes on passing container ships are in support of Palestinians in the Gaza war raging between Israel and Hamas...

Sharjah, UAE - The Islamic World Heritage Committee of the Islamic World Educational, Scientific and Cultural Organization (ISESCO) added the Mleiha archaeological site and Al Dhaid Fort and Falaj to the List of the Islamic World Heritage.The Sharjah Archaeology Authority (SAA) has completed the nomination dossier of the Mleiha archaeological...

It will benefit from revenue synergies, economies of scale.

ABU DHABI, UAE – Airports in the country witnessed a 15 percent increase in air traffic during the 28th Conference of the Parties (COP28) held at Expo City Dubai, said Director-General of the General Civil Aviation Authority (GCAA) Saif Mohammed Al Suwaidi.In a statement to the Emirates News Agency (WAM),...

The Federal Authority for Nuclear Regulation (FANR), the UAE's independent nuclear regulator, recently issued the Operating License for Unit 4 to Nawah. This milestone takes the UAE one step closer to full fleet operations at Barakah, the largest single source of clean electricity in the region. Once operational, Unit 4,...

Dubai, UAE – About 79 percent of UAE employees believe digital skills are crucial for business success, and 84 percent feel that new technologies are empowering them to reach their potential, according to a latest ServiceNow survey . The survey, which included over 5,500 working adults from the UAE, France, Germany,...

They will supply solar power to 45 properties in the UAE.

Dubai, UAE-- The UAE and South Korea Korea are looking to boost ties in the water sector and in this regard the Ministry of Energy and Infrastructure (MoEI) received a delegation from Korea’s Ministry of Environment to discuss the latest developments and share experiences in the sector.As part of the...

Dubai, UAE – Oman, Qatar, and the United Arab Emirates, particularly Dubai, have secured top positions for residential property investment in 2024, the inaugural "Housearch Investment Index" highlighted in its report. The trend underscores the region's appeal as a stable and reliable investment haven, especially amidst cooling property markets in...

"Critical infrastructure organizations are distinct from other enterprises; their downfall could bring entire sectors of the economy down with them. It is hoped that in the coming year, the industrial control system's security will receive the comprehensive overhaul it so urgently requires," adds Selcuk.

ABU DHABI, UAE - The UAE Government has issued a federal decree which aims to regulate and organize media in the UAE.The decree also aims to promote the UAE as a global media hub and establish an enabling environment to catalyze the growth and prosperity of the sector.The provisions of...

Reeling from a calamitous drop in advertisement revenues and public trust, news media organizations are reworking strategies to create "niche" content.

Dubai, UAE -- The UAE has ranked first in the Middle East and fourth globally as a leading destination for remote work, according to a new ranking by VisaGuide.World.The VisaGuide.World website specialises in monitoring and evaluating the effectiveness of visa systems.The website also measures countries' progress in providing a conducive...

ASTANA, KAZAKHSTAN – UAE and the Republic of Kazakhstan signed an agreement to enhance bilateral cooperation in the combating of financial crimes.UAE’s Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AML/CTF) and the Financial Monitoring Agency of Kazakhstan (FMA) have formally inked a Memorandum of Understanding (MoU).The MoU...

"The Gulf country will continue its efforts to achieve peace through tangible steps and a roadmap for a two-state solution. This solution envisions an independent and sovereign Palestinian state, in line with relevant UN Security Council resolutions, and negotiated between the two parties with full international backing," he adds.

Abu Dhabi, UAE - UAE President Sheikh Mohamed bin Zayed Al Nahyan discussed bilateral ties with Recep Tayyip Erdogan, President of Turkey.The two explored boosting cooperation to achieve further prosperity for the UAE and Turkey, local media reports said.Al Nahyan and Erdogan also exchanged views on various regional and international...

Abu Dhabi, UAE--ADQ, an Abu Dhabi-based investment and holding company, and Azerbaijan Investment Holding (AIH), a strategic sovereign wealth fund located in Baku, have announced the formation of a joint venture with the aim of investing in sectors of mutual priority and interest, such as agriculture, technology, pharmaceuticals and energy...

Abu Dhabi, UAE – The UAE and Azerbaijan have signed a Memorandum of Understanding (MoU) aimed at strengthening the digital infrastructure in Azerbaijan with a focus on the development of data centers. The MoU was signed by Mohamed Hassan Alsuwaidi, Minister of Investment of the UAE, and Rashad Nabiyev, Minister of...

PARIS, FRANCE - While the UN's COP28 climate summit marked a pivot moment, when the world pledged to say "goodbye" to fossil fuels, International Energy Agency chief Fatih Birol told AFP on Friday, it needs to now urgently boost finance for the energy transition in developing countries.Birol welcomed the landmark agreement...

ADNOC to buy OCI’s entire shareholding in Fertiglobe.

Both the firms will offer their expertise in the sector.

Dubai, UAE -- The real estate and properties transactions valued at 12.9 billion ($3.51 billion) in total during the week ending 15 December 2023. The sum of transactions was 3,888.A total 304 plots were sold for AED 3.53 billion, 2,744 apartments and villas were sold for AED 7.15 billion. The top...

Dubai, UAE - The UAE’s GDP is expected to double in 2024 to 4.8%, up from 2.4% year-on-year in 2023, according to the latest Economic Insight report commissioned by ICAEW and compiled by Oxford Economics. While near-term growth may face constraints due to OPEC+ production quotas, the UAE's higher reference...

Dubai, UAE - An agreement to "transition away" from fossil fuels may be a landmark moment but don't expect quick changes among the major producers of the Gulf, where the deal was hammered out.After the UN's COP28 climate talks in Dubai, Saudi Energy Minister Prince Abdulaziz bin Salman immediately played down...

ABU DHABI, UAE -  Tabreed on Thursday announced the successful closure of its inaugural US$163 million (AED600 million) Green Revolving Credit Facility (RCF) in partnership with First Abu Dhabi Bank (FAB) as the Green Coordinator, alongside Abu Dhabi Commercial Bank (ADCB), and Emirates NBD.This financing agreement, spanning five years, aligns...

ADCB to sell 80 percent stake in ADCP to Nine Yards Plus.

Proceeds of the facility will be used for general corporate purposes.

Abu Dhabi, UAE – The Central Banks of the United Arab Emirates and Qatar have chosen to maintain their current interest rates, in a coordinated move echoing the US Federal Reserve's recent decision, underlining a synchronized approach to monetary policy in the Gulf Cooperation Council (GCC) region.UAE's Monetary Policy StanceThe...

The company deals in risk management infrastructure for digital assets.

Reeling from a calamitous drop in advertisement revenues and public trust, news media organizations are reworking strategies to create "niche" content.

Brhane said the World Bank integrated climate into all its work across the MENA region and is on track to align 100 percent of new operations with the goals of the Paris Agreement.

Dubai, UAE - With the UAE-based G42's decision to align with US directives by severing ties with Chinese tech partners early this month, the spotlight now shifts to the actions anticipated from other technology firms across the GCC region. The question now is whether more companies in the region will...

Dubai, UAE--Nasdaq Dubai has welcomed the first Sukuk listing by the Republic of the Philippines, "ROP Sukuk Trust", underscoring the exchange's reputation as the preferred choice for sovereign issuances.The Republic of the Philippines has chosen Nasdaq Dubai to list its maiden sukuk worth US$1 billion of Trust Certificates due in...

Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) joined AFAQ Payments System, which is operated by the Gulf Payments Company (GPC) and owned by the GCC Central Banks. “AFAQ”, a system linking payment systems in GCC countries, offers the service of executing financial transactions in local currencies to customers...

DUBAI, UAE - With global attention on the COP28 climate summit, UNCTAD’s eWeek 2023 highlighted digitalization’s potential to accelerate climate action and its environmental costs. Data-driven technologies like the Internet of Things, robotics and artificial intelligence (AI) can enhance climate change monitoring, optimize energy use and production processes, and promote...

DUBAI, UAE - The outlook for 2024 remains “highly uncertain and generally pessimistic,” UNCTAD says in the Global Trade Update, citing factors like ongoing geopolitical tensions, escalating debt and widespread economic fragility.Other elements weighing on trade include lower demand in developed countries, less trade in East Asia, an uptick in...

COP28 has debated a historic first-ever global "phase-out" from oil, gas and coal, the main culprits in a planetary crisis of warming. A draft put forward on Monday by COP28 president Sultan Al Jaber fell well short, instead presenting reductions in fossil fuels as one of several options.

The partnership will utilize low-cost indoor farming solution.

The IPO witnesses demand of over AED 265bn ($72.15bn).

Dubai, UAE - Google on Monday released the top trending searches of 2023 for the Middle East and North Africa. The annual lists reveal the most trending search queries which experienced a higher volume of search over a sustained period in 2023 compared to 2022. The lists included the top...

The agreement will bring AI innovation to food production.

Dubai, UAE-- Protecting nature could avert global economic losses by 2030 of US$2.7 trillion per year, or 2.3 percent annually, according to Valerie Hickey, Global Director for Environment, Natural Resources and Blue Economy at the World Bank.Speaking to media at COP28, she said that low-income countries could lose around 10...

Israeli PM confronts one of the most challenging periods of his tenure as it intensifies military actions in Gaza amid mounting casualties and a deepening humanitarian crisis.

DUBAI, UAE – Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has issued Law No. (25) of 2023 establishing the Dubai Investment Fund as an independent public entity operating on a commercial basis.The law also endows the Fund with the financial and administrative independence...

The firms will collaborate on nuclear energy technologies.

Fully Charged has expertise in EV charging technology.

Dubai, UAE-- The International Islamic Trade Finance Corporation (ITFC) is looking to ramp up its sustainable and green financing to nearly 30% of its total financing portfolio.This was stated by Hani Salem Sonbol, CEO of the ITFC, affiliated with the Islamic Development Bank Group.Speaking to the Emirates News Agency (WAM)...

Negotiators have failed to produce a new draft agreement since the last text was released on Friday. The document includes four different paths out of fossil fuels, but it also has a fifth option: leaving the issue out of the final deal.

Rapid cloud adoption in the two GCC countries is accompanied by increased security risks, leading to costly data breaches, reveals a latest study by Illumio.