Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) has signed an agreement with Emirates Steel Arkan to develop a pioneering project utilising green hydrogen to reduce carbon emissions in the UAE's energy-intensive steel industry.Marking the first of its kind in the Middle East and North Africa region, this innovative project...

Dubai, UAE--Dubai International Chamber has attracted a total of 92 businesses, including 15 multinational companies and 77 SMEs, to the emirate between January and September 2023.The chamber has also supported the successful expansion of 33 Dubai-based companies into global markets, either by increasing their exports or helping them to establish...

Riyadh, Saudi Arabia - The World Bank has projected a 3.4% growth in the real Gross Domestic Product (GDP) of the UAE by the year 2023, with expectations of further increase to 3.7% in 2024.According to the recently published World Bank Gulf Economic Update (GEU) report, the Bank anticipated the...

Dubai, UAE -- The United Arab Emirates (UAE) holds nearly 40 percent of the aircraft fleet in the Arab region, Director-General of the Arab Civil Aviation Organisation (ACAO) Abdennabi Manar said.Speaking to the Emirates News Agency (WAM) on the sidelines of the ongoing third International Civil Aviation Organisation (ICAO) Conference...

UAE, Dubai - UAE has approved the year 2024 official holidays calendar for both public and private sectors.As part of the UAE's ongoing efforts to enhance work and life balance in government and private sectors, the resolution aims to enable all community members working in various sectors in the UAE, as...

ABU DHABI, UAE  - Emirates Global Aluminum (EGA) on Tuesday announced the start of construction of the country’s largest aluminum recycling plant.The state-of-the-art facility, with an annual production capacity of 170,000 tonnes, is being built adjacent to EGA's existing smelter in Al Taweelah.The plant will utilize a combination of post-consumer...

The results underscore the firm’s robust financial performance.

Dubai, UAE -- UAE defense conglomerate EDGE Group has inked deals worth at least $1.8 billion during the Dubai Airshow, with the Emirati military as a key customer, media reports said.A $1.1 billion deal with UAE Ministry of Defense for aircraft munitions was the biggest of the deals. This involves...

Final offer price will be fixed through a book-building process

Methane -- which is potent but relatively short-lived -- is a key target for countries wanting to slash emissions quickly and slow climate change. That is particularly because large amounts of methane are simply leaking into the atmosphere from fossil fuel infrastructure.

Abu Dhabi, UAE--The UAE has solidified its stature as a key player in the global financial landscape, through launching economic projects and initiatives that have made it an ideal partner for the NYSE in exploring new markets, said John Tuttle, Vice Chairman of the New York Stock Exchange (NYSE) and...

DUBAI, UAE – Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has achieved significant growth in membership during 2023.A total of 48,616 new member companies registered between January and September this year, representing an impressive year-over-year (YoY) increase of 42.9 percent compared...

Dubai, UAE -- Nearly 48 percent of individuals in the UAE anticipate an uptick in cross-border payments over the next 12 months and 36 percent expect to receive more cross-border payments during the same period, according to the recently released Mastercard Borderless Payments Report for 2023.Globally, the report indicates a...

The agreements with Sharjah Ports extended for another 35 years.

Dubai, UAE--In order to reduce food loss and waste by 50 percent, the UAE has launched Ne’ma Food Loss and Waste Reduction Roadmap, looking to achieve the target by 2030.The project was unveiled by Mariam bint Mohammed Almheiri, Minister of Climate Change and the EnvironmentThe roadmap was announced at the...

War with Palestinians disrupts Israel's gas exports, causing economic losses and altering energy strategies.

DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues in the region and steering investment and financial requirements towards a more environmentally responsible approach.Bashar Al-Natoor, Global Head of Islamic Finance and Managing Director at Fitch Ratings, expressed optimism about...

DUBAI, UAE – Dubai Customs has experienced a robust 13 percent increase with 21.6 million transactions during the first nine months of this year. This surge contrasts with the 19 million transactions recorded during the same period last year. The upswing aligns with the targets of Dubai’s economic agenda D33,...

Announced in February 2021, Saudi Arabia's regional headquarters (RHQ) program is widely seen as a bid to compete with Dubai in the neighboring United Arab Emirates, a favorite base for global firms with business in the Middle East. Despite complaints from some executives that there remains a lack of clarity...

Manama, Bahrain-- The ongoing war in Gaza represents a serious setback for the efforts to reduce tension in the region as a whole, said Dr. Anwar Gargash, diplomatic adviser to the UAE President.Speaking at the 19th Manama Dialogue, he warned: “Prolonging the war would only amplify its associated risks, including...

The UAE, Saudi Arabia, and Qatar outperform 17 other countries in key areas of green investment, sustainable infrastructure, and energy transition, says a report.

Dubai, UAE-- At least 15 patients from Gaza arrived in the UAE to receive medical treatment in the UAE's hospitals.The arrival of patients from Gaza is part of the initiative directed by Sheikh Mohamed bin Zayed Al Nahyan, UAE President, to provide medical treatment for 1,000 children.The UAE President has...

Dubai, UAE - The Federal Authority for Nuclear Regulation (FANR), serving as the UAE's independent nuclear regulatory body, has officially issued the Operating License for Unit 4 of the Barakah Nuclear Power Plant to Nawah Energy Company. The authorization, spanning 60 years, empowers Nawah to proceed with the commissioning and...

Abu Dhabi, UAE-- The third edition of the Investopia summit will be held in Abu Dhabi in February next year, drawing prominent local and international figures, investors, government officials, decision-makers and entrepreneurs.Al Marri announced the details of the upcoming edition of the Investopia summit to be held under the theme...

A report by S&P Global Ratings forecasts improved fiscal positions due to higher oil prices, fiscal consolidation and a robust non-hydrocarbon activity.

ABU DHABI, UAE - Abu Dhabi Ship Building (ADSB) announced that it is building two 28-meter vessels for ADNOC Logistics and Services plc (ADNOC LS), a global energy maritime logistics leader.The order for these vessels further strengthens the relationship between ADNOC LS, a global energy maritime logistics leader, and EDGE...

DUBAI, UAE – Tawazun Council signed 16 deals, worth US$1.3 billion (AED 4.87 billion), with local and international companies on behalf of the Ministry of Defense on the fourth day of the Dubai Airshow 2023.UAE’s Tawazun Council is an independent government entity that works closely with the defense ministry.This brings...

Abu Dhabi, UAE – ADASI, the EDGE Group entity, a regional leader in autonomous systems and services, said on Thursday that it has signed an AED 239 million ($65 million) contract to supply GARMOOSHA unmanned aerial systems (UAS) to the UAE Ministry of Defence."We are honoured to deliver our best-in-class...

Abu Dhabi, UAE - The UAE is building three desalination plants in Rafah to supply Gaza with water as part of its 'Gallant Knight 3' humanitarian operation.The production capacity of each plant is 200,000 gallons per day with a total of 600,000 gallons, benefiting 300,000 people per day.'Gallant Knight 3'...

DUBAI, UAE - EDGE, one of the world's leading advanced technology and defense groups, announced its first major order from the UAE Armed Forces for the locally-manufactured REACH-S fixed-wing UAV.Announced at the Dubai Airshow, the order to supply 100 REACH-S is the first of its kind for the for UAE-made...

This is due to the steady growth in its consumption volumes.

Abu Dhabi, UAE – Bayanat, a leading provider of AI-powered geospatial solutions, and Al Yah Satellite Communications Company (Yahsat), the UAE’s flagship satellite solutions provider, on Wednesday announced the expansion of their ambitious Earth Observation (EO) space program from five to seven synthetic aperture radar (SAR) satellites.The expansion of the...

Its income for the first nine months of 2023 is US$816m.

ABU DHABI, UAE - Some employees who failed to meet an October 1 deadline to sign up to the UAE's job loss insurance scheme will not be able to renew work visas until they pay off fines, authorities said on Wednesday.The Ministry of Human Resources and Emiratization said financial penalties...

"Once we've reached about 120 million (passengers a year), which is what we think our total capacity at DXB (Dubai International) is at the absolute maximum with everything optimized, we are going to need a new airport," Dubai Airports CEO Paul Griffiths said.

This marks 16% increase compared to the same period last year.

Dubai, UAE -- EDGE, one of the world's leading advanced technology and defense groups, announced that it bagged an AED 4.1 billion ($1.1bn) contract for the supply of aircraft munitions at Dubai Air Show Wednesday.EDGE entity LAHAB DEFENCE SYSTEMS, the UAE’s sole munitions manufacturer, was awarded the contract which includes...

DUBAI, UAE – Tawazun Council announced the signing of 11 deals, worth US$1.8 billion (AED 6.9 billion), with local and international companies on the second day of the Dubai Airshow 2023.Tawazun Council is an independent government entity that works closely with the Ministry of Defense and security agencies to maximize...

The company's third-quarter revenue grew by 8% to $5.80 billion.

Dubai, UAE--Dubai Airports is expecting annual passenger traffic at Dubai International (DXB) to touch 86.8 million – surpassing 2019 traffic, propelled by strong growth throughout the first three quarters of the year and anticipation of an exceptional surge in guest numbers in the final quarter.DXB commenced the second half of...

The expected injection of billions of dollars into the retail business through sale of varied items can turn out to be a much-needed boost for a sector experiencing "sales fatigue."

The expected injection of billions of dollars into the retail business through sale of varied items can turn out to be a much-needed boost for a sector experiencing "sales fatigue."

The transaction is worth $3.2 billion, reports say.

Dubai, UAE - UAE's Tawazun Council, an independent government entity that works closely with the Ministry of Defense and security agencies to maximize value through acquisition systems, announced signing of nine deals worth $1.27 billion with local and international companies on day 1 of the Dubai Airshow 2023.The announcement was...

Doha, Qatar -- Qatar has strongly condemned the Israeli shelling of the Qatar Committee for the Reconstruction of Gaza's headquarters, denouncing it as a blatant violation of international law. The incident, viewed as an extension of the occupation's pattern of targeting civilians and civilian infrastructure, has sparked international outrage, QNA...

Abu Dhabi, UAE -- Rapid advances in AI technologies have created a major challenge for the media sector: the difficulty of keeping up with these developments that require specific ethics, according to a media expert. Professor Charlie Beckett, Professor of Practice, Director of Polis and the Polis/LSE JournalismAI project at...

Dubai, UAE -- As world leaders and climate experts gear up for the COP28 climate summit scheduled to take place in the United Arab Emirates (UAE), the latest data on global climate conditions issues a compelling and urgent call to action, an expert has said.The National Oceanic and Atmospheric Administration...

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 supporting...

Dubai, UAE - The much-anticipated Hindi-language action film Tiger 3, starring Salman Khan and Katrina Kaif, has reportedly been banned in Gulf states Kuwait, Oman, and Qatar. Released on the occasion of Diwali, the film has marked its entry into the record books as the highest-grossing Diwali day release.While the...

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