Dubai, UAE -- The economies of Gulf Cooperation Council (GCC) countries are expected to grow by 1 percent in 2023, down from 7.3 percent in 2022, according to the World Bank.In its recent report, the bank said the Gulf economies combined will grow by 3.6 percent in the year 2024....

Abu Dhabi, UAE – UAE President Sheikh Mohamed bin Zayed Al Nahyan on Thursday received Mohammad Baqer Qalibaf, Speaker of the Iranian Parliament. He was accompanied by Saqr Ghobash, Speaker of the Federal National Council (FNC).During the meeting at Qasr Al Shati in Abu Dhabi, the UAE president conveyed his greetings...

Last year, 67% of UAE's crypto transactions were institutional, valued over $1 million, with decentralized exchanges constituting 48%, outpacing centralized ones, says a report.

ABU DHABI, UAE – ADNOC on Thursday announced the final investment decision (FID) and award of contracts for the Hail and Ghasha Offshore Development project.The project aims to operate with net zero carbon dioxide (CO2) emissions, reinforcing ADNOC’s legacy of responsible energy production and supporting its Net Zero by 2045...

Dubai, UAE -- The value of real estate deals in Dubai increased by 40 percent to reach AED 97.55 billion ($26.55 billion), compared to AED 69.5 billion in the third quarter of 2022, real estate company D&B Properties said.The emirate's market surged 22 percent in terms of transactions, with Q3...

This will create manufacturing opportunities worth $2.7bn.

Abu Dhabi, UAE-- The Arab Development Establishment (ARDECO) has revealed that it is in talks with several international companies in the oil and gas sector to establish joint ventures boosting Abu Dhabi's industrial base.Yousef Al Nowais, CEO of the Arab Development Establishment (ARDECO), said the joint ventures will help support...

It will join the UAE's FDI program to expand footprint.

The region's fintech growth, fueled by a tech-savvy populace, robust regulations, and digital adoption, is drawing global focus, heralding the future of financial services.

Brasilia, Brazil-- The UAE and Brazil have explored opportunities to develop cooperation in trade, energy and climate issues in a meeting between Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs of the UAE, and Mauro Vieira, Minister of Foreign Affairs of Brazil, in the capital, Brasilia.The meeting, which...

Dubai, UAE - : Recently crowned Miss Universe Queens Miss Universe Bahrain 2023 Lujane Yacoub and Miss Universe Pakistan 2023 Erica Robin on Tuesday promoted halal and wellness travel in the Philippines, after the country won the Emerging Muslim-Friendly Destination Award earlier this year.With the Muslim travel market forecast to...

Abu Dhabi, UAE-- Kazakhstan's BSG Technology is looking to expand its operations into the Middle East, and begin operations in the UAE next year.According to Serik Baimukhanbetov, Deputy Director for Business Development of BSG Technology, the company expects to launch its operations in the UAE market in 2024 and has...

ABU DHABI, UAE – ADNOC and Fertiglobe on Tuesday announced the pilot deployment of the world’s first cost-effective modular CycloneCC carbon capture unit at Fertiglobe’s 100 percent owned nitrogen fertilizer plant in the Al Ruwais Industrial Complex here.Fertiglobe was formed as a strategic partnership between ADNOC and OCI Global.The CycloneCC...

"While economic challenges are rife across the country, rising inflation and the deterioration of public services are making life unbearable," said a statement signed by 35 Yemeni groups and 13 international aid organizations including the Danish Refugee Council and Save the Children.

Abu Dhabi, UAE -- Top executives from South Korean companies have affirmed that numerous firms are actively looking to expand and inject new investments into the UAE's oil and gas sector, noting that the UAE is attracting capital seeking unprecedented growth and prosperity opportunities worldwide.In statements to Emirates News Agency...

Abu Dhabi, UAE - Global demand for all forms of energy is forecast to rise by 25% through 2045, according to Haitham Al Ghais, Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC).“By 2045, the world's energy demand is expected to increase by 25% from current levels, as the...

Abu Dhabi, UAE-- The UAE will produce 19.8 gigawatts of clean energy by 2030, Suhail bin Mohamed Al Mazrouei, Minister of Energy and Infrastructure, told a global audience of energy leaders at opening of ADIPEC 2023, which convened today under the theme of ‘Decarbonising. Faster. Together.’Speaking at ADIPEC’s ministerial panel...

"Today, the UAE is recognized as a leader in new economy sectors, including renewable energy, fintech, artificial intelligence, the fourth industrial revolution, entrepreneurship, and space," Al Marri adds, highlighting Emirati astronaut Sultan Al Neyadi’s recent space mission as a testament to the country's advancements.

Abu Dhabi, UAE--Abu Dhabi Oil Company (ADOC) is planning more investments and expansions in the UAE, according to a senior company official.Takahiko Shingai, Deputy General Manager and Director of Development Department at ADOC, told the Emirates News Agency (WAM) on the sidelines of the ADIPEC 2023 exhibition and conference that:’’...

Dubai, UAE - Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued Law No. 17 of 2023 which stipulates that Dubai must possess its distinct emblem, one that mirrors its values and principles, local media reports said.The emblem is considered the property of Dubai,...

President of the upcoming COP28 climate talks Sultan Al Jaber, also the head of UAE state-owned oil firm ADNOC, told an oil conference that the fossil fuel industry would play an essential role in addressing the crisis. "This industry has been viewed as part of the problem, that it's not...

Dubai, UAE - Dubai Electricity and Water Authority (DEWA) commissioned the 200MW second unit of the parabolic basin complex in fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park, local media reports said.This phase uses the Independent Power Producer (IPP) model with investments of up to AED 15.78...

Dubai, UAE - Vice-President and Prime Minister of the UAE Sheikh Mohammed bin Rashid Al Maktoum on Sunday shared a rare video from his visit to China 30 years ago while extending congratulations to China on its 74th National Day. In a heartfelt message posted in Chinese on Platform X, he...

The UAE leads the Arab world in digital quality of life, with its advanced digital infrastructure and commitment to tech advancements. Saudi Arabia secures second position.

Abu Dhabi, UAE - Abu Dhabi International Progressive Energy Congress (ADIPEC) 2023 begins today here to deliberate decarbonization of the energy system and to collaborate on the energy system of tomorrow.ADIPEC 2023 is expected to attract more than 160,000+ attendees from 164 countries for its biggest edition ever.The Congress will...

Dubai, UAE--Dubai Chamber of Digital Economy is all set to welcome the global business community to Expand North Star, the world's largest gathering of startups and investors.Expand North Star will host more than 1,800 startup exhibitors from over 100 countries. More than 1,000 investors with a combined total of over...

Islamic fintech assets will rise from 0.8% to more than 1 percent globally by 2025, driven by young Muslim demand and favorable regulations, predicts Moody's.

“This potential is further amplified by its vast human resources, and cutting-edge technological and industrial capabilities,” he adds, emphasizing that BRICS could shift global focus to urgent matters like climate change, energy security, innovation, and the promotion of investments in emerging technologies.

DIB felt Turkey is a great investment destination.

SIATT is Brazilian smart weapons and high-tech systems specialist.

Sao Paulo, Brazil - The UAE’s EDGE Group, one of the leading advanced technology and defence groups, has announced the acquisition of a 50 percent stake in Brazilian smart weapons and high-tech systems specialist, SIATT.The acquisition deal was officially signed at SIATT's headquarters in the city of Sao Jose dos...

Washington, United States - US Secretary of State Antony Blinken and India’s External Affairs Minister S Jaishankar held discussions in Washington, highlighting the potential of the India-Middle East-Europe Economic Corridor. The significant initiative, born out of India's G20 presidency, aims to foster transparent, sustainable, and high-standard infrastructure investments."At the G20...

“As the UAE gears up to host COP28, it's crucial to involve all partners in hastening climate action, both locally and globally. Our objective is to mainstream sustainability. We're convinced that if we can make intricate climate change issues relatable worldwide, we can undoubtedly fulfill the Paris Agreement's objectives,” she...

Amman, Jordan - The UAE Cyber Security Council discussed cybersecurity in the inaugural Jordan Cyber Security Summit 2023, known as DOT Cyber Summit 2023. The DOT Cyber Summit 2023 explored issues related to cyber policies and strategies, international issues related to cyber risks and threats faced by countries.This includes mechanisms...

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt (CBE) on Thursday entered into a Bilateral Currency Swap Agreement between the UAE Dirham (AED) and the Egyptian Pound (EGP).The agreement, signed by Khaled Mohamed Balama, Governor of the Central Bank of the...

ABU DHABI, UAE - The financial markets of the United Arab Emirates topped the Arab stock exchanges during last week's trading, according to the Arab Monetary Fund (AMF).The fund, in its weekly bulletin on Arab financial markets, which monitors the performance of 13 exchanges, said that the UAE markets achieved...

Tehran, Iran--Iran has exported 27.7 million tons of goods worth $9.1 billion to BRICS member countries from March 21-August 21, 2023).In the first five months of this year of 1402 in the Iranian calendar nearly 37 million tons of goods worth $25.1 billion were exchanged between Iran and current and...

Abu Dhabi, UAE--Masdar and PLN Nusantara Power (PLN NP) have signed an agreement to develop Phase II of the successful Cirata floating photovoltaic (FPV) power plant in Indonesia by up to 500MW, in a major expansion to Southeast Asia’s largest FPV plant.The signing ceremony was witnessed by UAE Minister of...

Ras Al Khaimah, UAE - Ras Al Khaimah’s is building its first organic soil fertilizer project at a cost of $20 million. Being built by Uterra Middle East Agro Industries, the project aims to transform agriculture, address environmental challenges and promote sustainabilityA part of a multi-national UniPax Investment Group, Uterra...

A technical cooperation agreement will follow the signing.

Abu Dhabi, UAE - Following the resounding success of its inaugural edition in February 2023, the Mubadala Abu Dhabi Open is set to make a triumphant return for its second edition in 2024. The tournament, hosted by the Women's Tennis Association (WTA) in partnership with Mubadala and presented by Abu Dhabi...

Dubai, UAE - Israel's energy minister and the CEO of the UAE's renewable energy firm, Masdar, have met to advance a significant water-for-energy deal with Jordan, according to the Israeli energy ministry, as reported by a section of media. The meeting was held in preparation for an anticipated signing ceremony at...

Sudairi's delegation, which crossed overland from Jordan, was the first from Riyadh to visit the West Bank since the 1993 Oslo Accords, which had aimed to pave the way for an end to the Israeli-Palestinian conflict. When asked whether there will be a Saudi embassy in Jerusalem, Sudairi recalled there...

DUBAI, UAE - The Public Debt Management Office (PDMO) of the Government of Dubai's Department of Finance (DOF) announced a reduction of approximately US$7.8 billion (AED29 billion) in Dubai's public debt by the end of this year.The achievement has been realized within a year and a half since the establishment...

Dubai, UAE - UAE and China explored opportunities for the two countries to cooperate and exchange experiences in areas related to labor, human resources development and skills enhancement.A discussion on these issues was held at a meeting between Dr. Abdulrahman Al Awar, UAE's Minister of Human Resources and Emiratization, and...

S&P analysts anticipate continued growth within the UAE's robust tourism sector. The country's ability to host major international events is expected to play a pivotal role in achieving the UAE's ambitious goal of attracting 40 million visitors by 2030, accompanied by plans to expand the number of hotel rooms to...

New York, US-- The UAE Foreign Minister Sheikh Abdullah bin Zayed has held talks with Subrahmanyam Jaishankar, External Affairs Minister of India, and pledged to further develop cooperation as part of the two countries' strategic partnership.The two ministers met on the sidelines of the 78th Session of the United Nations...

Abu Dhabi, UAE - The mining sector’s contribution to the non-oil GDP of the United Arab Emirates is set to increase to 5% by 2030, Khaled Al Hosani, Director of the Geological and Mineral Resources Department at the Ministry of Energy and Infrastructure, said on Monday. The ministry has  launched the...

Abu Dhabi, UAE - The Abu Dhabi Securities Exchange (ADX) signed an agreement with the Expo Center Sharjah to enhance its services for Sharjah’s investor community, local media reports said.The agreement was signed at Expo Centre Sharjah, with Abdulla Salem Al Nuaimi, CEO of ADX, and Saif Mohammed Al Midfa,...

ABU DHABI, UAE –  Director-General and Chairman of the Board of Directors of the Arab Monetary Fund Dr Abdul Rahman Bin Abdullah Al Humaidi said that Arab countries account for about 60 percent of the global Islamic financial industry, which amounted to US$3 trillion by the end of 2021.Al Humaidi...