Dubai, UAE-- G42 has announced a partnership with OpenAI to deliver cutting-edge AI solutions to the UAE and regional markets.The partnership between the two will focus on leveraging OpenAI’s generative AI models in domains where G42 already has deep expertise including financial services, energy, healthcare and public services. OpenAI will...

Despite global economic challenges, the region showcased resilience in the first half of 2023, backed by a robust performance in the construction sector.

Abu Dhabi, UAE - ADNOC Gas on Wednesday announced a multi-year liquified natural gas (LNG) supply agreement, valued between $500 million (AED1.8 billion) and $700 million (AED2.5 billion), with JERA Global Markets, a trading subsidiary of JERA Co.This agreement builds on the long-standing relationship between the UAE and Japan and...

Dubai, UAE--Masdar City and Huawei have signed a memorandum of understanding (MoU) to enable the UAE to power its way to net zero target.The agreement, signed today at GITEX GLOBAL 2023 by key Masdar City and Huawei leaders, will lead to knowledge-sharing and capacity-building in net-zero development, help reduce the...

"The Gulf country is set to host the WTO's 13th Ministerial Conference in the first quarter of 2024 in Abu Dhabi. This event will position the UAE at the epicenter of discussions shaping global trade's future. Ossa underscored that this conference ranks among the most significant events in the WTO's...

The 57-member Organisation of Islamic Cooperation denounces Israel's backers for granting the country "impunity in its war in Gaza, taking advantage of the double standards that provide cover for the occupying power".

Dubai, UAE--Moro Hub, the digital arm of DEWA, has signed a memorandum of understanding (MoU) with Digital Dubai Authority (DDA) to deliver state-of-the-art cyber security services to various government entities across Dubai.As part of this agreement, Moro Hub will extend its comprehensive suite of managed cyber security services to safeguard...

ABU DHABI, UAE – Ahmet Burak Daglioglu, Head of the Investment Office of the Turkish Presidency, said that the cumulative foreign direct investment from the United Arab Emirates to Turkey has surged to $5.6 billion (AED 20.6 billion) from 2002 through August 2023.Speaking to the WAM during the eighth edition...

ABU DHABI, UAE - Archer Aviation on Tuesday announced that it has entered into an agreement with Abu Dhabi Investment Office (ADIO) with plans to commence air taxi operations in Abu Dhabi in 2026.As part of this initiative, ADIO plans to support Archer with incentives for establishing its first international...

Dubai, UAE -- MENA venture capital funding in the third quarter saw $250 million raised across 78 deals, a 32 percent increase compared to Q2 of 2023, according to the Q3 2023 MENA Venture Investment Premium Report by startup data platform MAGNiTT.This contributed to $1.4 billion raised through 286 transactions...

Dubai, UAE - The Middle East and North Africa (MENA) banking sector has witnessed a remarkable 30% year-on-year increase in net profits and a substantial 12.2% growth in net assets, the EY MENA H1 2023 Banking Report revealed on Monday. Returns on equity increased by 6.18%, and the net interest...

Its net profit rose to US$9.53m in the first nine months of 2023.

ABU DHABI, UAE - Chairman of the Abu Dhabi Department of Economic Development (ADDED) Ahmed Jasim Al Zaabi has said that investors from over 170 countries have chosen the UAE to invest, grow and expand over the past decade.He said that this reaffirms the trust of the global investment community...

Abu Dhabi, UAE -- Oman and Etihad Rail Company (OERC), the developer and operator of the UAE-Oman Rail Network, signed a Memorandum of Understanding (MoU) with Emirates Steel Arkan, the UAE’s largest steel and building materials manufacturer, to facilitate the export of raw materials from Oman to the UAE.Under this...

As Israel prepares for a ground offensive into the Gaza Strip, the international community has mobilized to try to protect civilians and prevent the conflict spreading across the region. But Tel Aviv's avowed determination to crush Hamas, the group behind the October 7 attack on Israel, are hampering mediation efforts.

ABU DHABI, UAE - Al Seer Marine, a subsidiary of Abu Dhabi-based International Holding Company, has announced the takeover of the very large gas carrier (VLGC) North Gas.This strategic move marks the second VLGC delivery under the US$134 million (AED495 million) deal signed by ABGC DMCC, a joint venture (JV)...

DUBAI, UAE – The Emirate's economy grew 3.2 percent in H1 2023 to reach US$60.9 billion (AED223.8 billion). The performance was driven by a 3.6 percent growth in real GDP in Q2 2023.Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum hailed the strong performance of the...

It is the first crypto entity to be listed on a Middle East bourse.

Marrakech, Morocco-- The UAE has allotted $200 million to the Poverty Reduction and Growth Trust (PRGT) to expand concessional financing for low-income countries. This aligns with the UAE’s unwavering efforts to realize the United Nations’ Sustainable Development Goal 1 (SDG 1) – no poverty – alongside other challenges that the...

The Middle Eastern region, led by Saudi Arabia and the UAE, is swiftly becoming a global esports hub, driven by its vast gamer community and strategic investments.

"World peace and security, along with social, economic, and political stability, hinge on two pivotal factors: addressing climate issues and investing in clean and renewable energy sources through a just and responsible energy transition, and leveraging advanced technologies to combat the effects of climate change," Ghobash adds.

ABU DHABI, UAE - The United Arab Emirates, represented by the General Civil Aviation Authority (GCAA), has signed a Memorandum of Understanding (MoU) with South Korea to enhance their bilateral air transport relations.This MoU includes an agreement to increase the number of national carrier flights between the two countries to...

Vienna, Austria--The UAE’s economy remains robust, with constant contributions from the non-oil sector, especially from tourism, leisure, and real estate, according to the OPEC’s Monthly Oil Market Report (MOMR) for October 2023.MOMR noted the UAE’s tourism sector, which accounts for more than 16% of the country’s GDP, continued to rebound...

Abu Dhabi, UAE - A Smart and Autonomous Vehicles Industries (SAVI) cluster was launched at Masdar City on Friday. It aims to position Abu Dhabi as a leading smart and autonomous vehicles hub, making significant contributions across air, land and sea mobility applications.SAVI will support innovation and the commercialization of...

Dubai, UAE - The gem and jewelry trade between India and the United Arab Emirates (UAE) has seen substantial growth, thanks in part to the India-UAE Comprehensive Economic Partnership Agreement (CEPA). India’s Gem and Jewelry Export Promotion Council (GJEPC) reported that approximately 30% of the gems and jewelry imported by the...

Seoul, South Korea - UAE President Mohammed bin Zayed Al Nahyan has delayed his planned state visit to South Korea on the invitation South Korean President Yoon Suk Yeol, which was scheduled for later this month, citing "unforeseen regional circumstances,"  the presidential office said Thursday.The delay in the visit comes...

It will deepen cooperation between the UAE and Turkey.

Abu Dhabi, UAE-- The UAE and US have reviewed ways to accelerate cooperation in priority sectors such as clean energy, sustainable industrial development and advanced technology – areas where the UAE and US already share a successful track record.The discussion on the boosting of ties came up in a meeting...

"While the world has abundant funds, there's a need for innovative strategies to channel them into vital sectors like sustainable development, renewable energy, and the blue economy," she adds while sharing her optimism for the World Investment Forum (WIF) in Abu Dhabi, scheduled between October 16 and 20, 2023.

Dubai, UAE -- Despite global economic uncertainties, the construction industry in the Middle East and North Africa (MENA) awarded a staggering $101 billion worth of projects in the first half of 2023, a report by JLL's Construction Market Intelligence said, based on insights gathered from industry experts and sources.The lion's...

MARRAKESH, MOROCCO - The International Monetary Fund (IMF) has forecast that the UAE's real Gross Domestic Product (GDP) will grow by 3.4 percent in 2023 and 4 percent in 2024.The IMF's forecast is in line with that of the World Bank, which released a similar estimate two days ago.The IMF said...

Abu Dhabi, UAE - Abu Dhabi Future Energy Company (Masdar), the UAE’s clean energy powerhouse will invest US$8 billion in Malaysia to develop up to 10 gigawatts (GW) of renewable energy projects by 2035.  To this end, Masdar signed an MoU with Malaysian Investment Development Authority (MIDA). The project will include ground...

Israel imposed a total siege on the Gaza Strip and cut off the water supply as it kept bombing targets in the Palestinian enclave in response to the Hamas surprise assault it has likened to the 9/11 attacks. Israel has counted over 700 dead and launched strikes on Gaza that...

Abu Dhabi, UAE -- Oxford Economics, an independent economic advisory firm, has predicted that the UAE economy will grow by 4.4 percent in 2024, driven by, among other things, government initiatives to support economic diversification.Scott Livermore, Chief Economist, Oxford Economics Middle East, and Managing Director, told WAM that the firm...

"With the ICA's theme, 'Enriching Knowledge Societies,' we're poised to delve into myriad topics, including the pivotal role of artificial intelligence (AI) in archiving and record-keeping," she adds while expressing eagerness to explore AI's impact on their work and to foster collaborative strategies for the profession's future.

ABU DHABI, UAE – Al Etihad Payments (AEP), a wholly-owned subsidiary of the Central Bank of the UAE (CBUAE), and NPCI International Payments Limited (NIPL), have announced a strategic partnership to develop the UAE’s first national Domestic Card Scheme (DCS).The agreement was exchanged between Saif Humaid Al Dhaheri, Assistant Governor...

UAE Vice President Sheikh Mohammed bin Rashid Al Maktoum, who chaired a meeting of the cabinet where the budget was approved, said that during 2024, the development and social benefits sector will receive 42 percent, government affairs 39 percent and the remainder will be channeled to enhance the infrastructure and...

Abu Dhabi, UAE--The UAE Cybersecurity Council will organise the Regional Cybersecurity Week 2023 from October 8-12, under the title "Cybersecurity Innovation and Industry Development."The event will be held in cooperation with the International Telecommunication Union (ITU) and the Arab Regional Cybersecurity Centre (ARCC).More than 100 experts and speakers from 70...

DUBAI, UAE - Dubai remains the top global destination for attracting Greenfield Foreign Direct Investment (FDI) projects, with the emirate attracting 511 such projects in H1 2023, as per Financial Times ‘fDi Markets’ data - the comprehensive online database on cross-border greenfield investments.Dubai continues to set new benchmarks in global...

ABU DHABI, UAE - In the first seven months of the year, hotel establishments in the UAE generated revenues of US$7 billion (AED 26 billion), said Abdullah bin Touq Al Marri, Minister of Economy and Head of the Emirates Tourism Council.The hotels witnessed a growth of up to 24 percent...

Abu Dhabi, UAE -- UAE's Ministry of Climate Change and Environment (MOCCAE) and Abu Dhabi Waste Management Company (Tadweer) have signed a Memorandum of Understanding to launch ‘Waste to Zero’, a global initiative to mobilize and advance waste decarbonization efforts, and to establish a circular economy platform.The initiative is part...

Bishkek, Kyrgyzstan--The UAE and Kyrgyzstan have discussed mechanisms to enhance joint cooperation in various fields, especially renewable energy, transportation, and logistics services in a meeting between Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure and Sadyr Japarov, President of the Kyrgyz Republic.The minister led a high-level UAE delegation...

ABU DHABI, UAE - Emiratis are casting their votes on Saturday, the main day of the Federal National Council elections, to select 20 candidates for the 40-member FNC.This is the first time that Emiratis have been able to vote online, and many have shared their joy at being able to...

DUBAI, UAE - Dubai Customs recently convened an extensive meeting with the courier and express shipping companies, aimed at bolstering the seamless operation of e-commerce activities.It also aims at solidifying Dubai's position as a global e-commerce epicenter, aligning with the strategic objectives of the Emirate’s economic agenda.The meeting was attended...

Dubai, UAE - The majority of Arab youth are against the normalization of relations with Israel, with Palestinians and Iraqis being the most vehemently opposed, the 2023 Arab Youth Survey reveals.However, those from the UAE, Morocco and Egypt are supporting it. What is more, the normalization is opposed by the 98% of...

Dubai, UAE-- Terming the circular economy as a critical pathway that builds a sustainable future by preserving natural resources, reducing waste, and promoting the conservation of resources at source, Mariam bint Mohammed Almheiri, Minister of Climate Change & Environment, emphasized that it not only promotes environmental sustainability but also presents...

Abu Dhabi, UAE--UAE President Sheikh Mohamed bin Zayed discussed how to deepen strategic alliance with the US in a meeting with US Senator Joni Ernst of Iowa in Abu Dhabi on Friday. During the meeting at Qasr Al Shati, the two sides exchanged views on a number of regional and...

Abu Dhabi, UAE - The UAE as a geographical and business hub will help the proposed ‘food security corridor project in India under the I2U2 framework,’ Piyush Goyal, Indian Commerce Minister told the Emirates News Agency (WAM) in an exclusive interview.“The UAE as a trading hub can cater to the...

DUBAI, UAE -  A total of 1,445 real estate transactions worth over US$2.5 billion (AED 9.5 billion) were conducted during the week ending October 6, 2023, according to figures released by the Dubai Land Department (DLD).The DLD report showed that 248 plots were sold for US$476 million ( AED 1.75...

Dubai, United Arab Emirates - Some 150 cats have been found left for dead in the desert in the United Arab Emirates, the animal rights group PETA said on Friday.Activists in the oil-rich Gulf state said dozens of the cats had died, while some were rescued alive.PETA called on the UAE...