Its net profit vaulted to US$132 million in the first half of 2023.

Dubai, UAE - Vox Cinemas, the prominent Middle East exhibitor partnering with Warner Bros. for distribution, has decided to postpone the Middle East release of the popular Greta Gerwig film to August 31. Initially slated for a July 19 release – just two days before its US debut – the delay...

Abu Dhabi, UAE - ADNOC and Occidental on Tuesday signed a strategic collaboration agreement (SCA) to evaluate potential investment opportunities in carbon dioxide (CO2) capture and storage (CCS) hubs in the United Arab Emirates (UAE) and United States (US), with a view to developing a carbon management platform to accelerate...

The company's second quarter net profit increased 4% year on year.

The UAE, set to host COP28 from November to December in the business hub of Dubai, requires official permission for protests but effectively bans demonstrations it deems disruptive. At the upcoming UN climate talks "there will be space available for climate activists to assemble peacefully and make their voices heard", it...

DUBAI, UAE – UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei launched the National Program for Infrastructure Development (Salamah 365).This is a transformational project under the performance agreements signed by federal authorities in 2022 in the presence of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime...

The company's revenue grew by 29 percent year on year.

Royal Mail said the drone service expected to improve service levels and delivery times to Graemsay and Hoy, where weather and geography can cause delivery disruptions

“The real development of the education sector requires attracting the expertise of Emirati educators. Without empowering them to perform effectively, other efforts become insufficient to achieve the desired educational success,” adds Sheikh Abdullah, the UAE’s Minister of Foreign Affairs and Chairman of the Education and Human Resources Council.

Dubai, UAE--The UAE's real estate market has recorded a strong performance across all sectors in the first half of the year as non-oil economy witnesses strong growth in spite of global macroeconomic headwinds. According to a market report by CBRE, rental performance in Abu Dhabi’s occupier market showed substantial improvement...

The country ascends four spots in Kearney's 2023 Global Services Location Index, reflecting its thriving business environment and emergence as a tech hub with 4,000+ startups.

ADNOC "is accelerating its decarbonization plan to advance its net-zero ambition to 2045, compared to its previous target of 2050," the company said in a statement. It said it intends to "increase its investments and redouble efforts in decarbonization," relying on an initial financing of $15 billion for "low-carbon solutions"...

Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) and Citaglobal Berhad have signed a memorandum of understanding (MoU) for developing renewable energy projects across solar, battery energy storage system (BESS), wind and other renewable energy technologies.The MoU was signed in Malaysia by Abdulla Zayed, Masdar’s Head of Development and Investment,...

Abu Dhabi, UAE - The UAE is establishing federal prosecution entities specialised in economic crimes and money laundering, to develop the UAE's judicial system in line with changing global economic landscape. The establishment of these entities also represents a first step towards investigating and cracking down on crimes such as corporate...

DUBAI, UAE – UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri highlighted the importance of collective action and collective finance to strengthen sustainable development.She also called upon G20 countries to fulfill their commitment to providing the pledged financial support for global climate initiatives.Almheiri addressed the G20...

DUBAI, UAE - Dubai Customs has, to date, processed 214 customs transactions worth US$38.7 million (AED142.2 million) under cover of the International Road Transport (TIR Carnet) system, the global customs transit procedure.Dubai Customs cleared the first transit consignment under the TIR carnet in 2020.Dubai Customs is a signatory of the...

The new set of conditions brought in by the finance ministry look to shore up the integrity of the corporate tax system in order to boost the UAE's appeal as an investment haven.

ABU DHABI, UAE - The UAE Ministry of Finance (MoF) on Saturday announced administrative penalties for violations related to the Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses. The penalties will be imposed on Taxable Persons, whether an individual or a legal entity, who do...

SHARJAH, UAE – The seventh edition of Al Dhaid Date Festival continues to captivate participants and visitors alike, in a celebration of heritage, competition and taste.Organized by the Sharjah Chamber of Commerce and Industry (SCCI), the event has been hosted at Expo Al Dhaid and offers an enticing platform to...

NEW DELHI, INDIA -  The UAE ranked fourth in the world among the top 12 markets for Indian spices in the fiscal year 2022-23, the Spices Board of India announced.Spice traders, regulatory authorities, import associations and trade officials from the Gulf will be invited for the 14th World Spice Congress...

The company's total operating income was $135m.

Dubai, UAE - Larsen & Toubro (L&T), a Mumbai-based Indian company, has announced plans to collaborate with banks in the Middle East, the Indian newspaper The Hindubusinessline reported. The primary objective of this tie-up is not to seek financing for projects, as L&T will continue to self-finance its project execution in...

Speaking at G20 Climate Sustainability Ministerial Meeting in India, Dr. Sultan Al Jaber said G20 makes up some 85 percent of the world's GDP and contributes 80 percent to emissions. He appealed to the audience to work with "your leaders to drive global climate action in this critical decade."

The Abu Dhabi firm will push for growth in the defense sector.

“Handling disinformation is the need of the hour. The Global Media Congress will help devise a strategy to use the available tools to tackle disinformation. We need an effective strategy to ensure that the messages impacting our citizens and the world are delivered in a positive, ethical and meaningful way,”...

New customers and projects were added in H1 2023.

Despite making up just over 1% of the UAE car market, EV popularity is growing, with plans to boost the electric charging network by 170% by 2025, says a report.

The bank's revenue grew by 50 percent to AED 4.3 billion.

Abu Dhabi, UAE -- Sheikh Saeed bin Zayed Al Nahyan, brother of UAE President Sheikh Mohamed bin Zayed Al Nahyan and Abu Dhabi Ruler's Representative, passed away on Thursday.An obituary issued by the Presidential Court said: “In the name of Allah, the Most Gracious, the Most Merciful... With hearts faithful...

Dubai, UAE -- Dubai witnessed the completion of nine real estate projects worth AED 4.06 billion ($1.10 billion) in H1 2023. According to data issued by the Dubai Land Department (DLD), 392 real estate projects are currently being developed in the emirate.The first six months of 2023 also witnessed the...

The bank recorded a total income of $2.53 billion.

Dubai, UAE-- Around 9.1 million people visited the UAE’s Government Unified Digital Platform, U.AE, from the start of 2023 until the end of June.According to the Telecommunications and Digital Government Regulatory Authority (TDRA), the jump in the average number of pages viewed was 3.52%, compared to the same period last...

The company logged a net profit of $4.4m.

Trade between GCC and ASEAN doubles, marking a new economic collaboration era as Saudi Arabia, Qatar, Oman, and UAE enhance ties by signing Treaty of Amity and Cooperation.

Profit driven by core revenues, effective cost management.

This is the bank's highest-ever half-yearly profit.

ADCP is a JV between Mubadala and Alpha Wave Global.

Dubai, UAE - L&T Construction, part of Larsen & Toubro, has secured new orders in Saudi Arabia, Malaysia, and India.The company will construct a ±525kV High Voltage Direct Current (HVDC) transmission segment in Saudi Arabia. This forms part of a large capacity Voltage Source Converter (VSC) based HVDC system, connecting...

A government security official said that "an arms dealer was killed along with his wife and five of his children and another eighth person inside the family's home while dismantling a projectile left over from the war". Another security official confirmed the death toll of the incident, which took place...

Abu Dhabi, UAE - The UAE government’s revenues amounted to AED115.6 billion ($31.3 billion) and its expenditures totaled AED92.5 billion ($25.0 billion) in the first quarter of 2023, the preliminary results of the UAE Government Finance Statistics Report for the first quarter of 2023, published by the Ministry of Finance...

Abu Dhabi, UAE - Khalifa Economic Zones Abu Dhabi or KEZAD Group, and Al Jazeera Steel Products Co, held the groundbreaking ceremony of the region’s first Rolling Mill with Rail production capability in Abu Dhabi.The establishment of the mill over an area of 210,000 square metres in KEZAD aims to...

Sharjah, UAE -- Sharjah real estate sector recorded deals worth AED549.4 million ($149.5 million) for the first half of 2023, a report by the Sharjah Real Estate Registration Department said. The transactions were facilitated through the department's branches located in the Central region and the cities of Khorfakkan, Dibba Al-Hisn,...

The group's public market portfolio stands at $9.1bn.

Dubai, UAE-- Calling on governments around the world to demonstrate leadership by signing the "Leaders Declaration on Food Systems, Agriculture and Climate Action", the COP 28 Presidency launched its Food Systems and Agriculture Agenda during the Food Systems Summit in Rome.It forms part of its continued work to define the...

Dubai, UAE -- Dubai's position as the leading hub for international dispute resolution has been further strengthened as the Dubai International Financial Centre (DIFC) Courts reported a staggering 692 percent increase in the overall value of claims during the first half of 2023 compared to the same period last year....

Al Dhannah Hospital in Al Dhafra region is owned by ADNOC.

"The UAE believes in the importance of joint action, integration of efforts, and promotion of economic development for countries facing development challenges and affected by irregular migration, according to a framework of joint planning with various international partners," adds Al Hashimy.

The president met with a string of leaders from the Arab world and the European Union and discussed ways to deepen partnerships with these countries. During the meetings, Sheikh Mohamed explored ways with the leaders to support and develop these relations for the benefit of the people of all countries...

DUBAI, UAE - Keeping pace with the UAE’s strong economic growth, Dubai Customs cleared 14 million customs transactions during the first six months of this year, a 10 percent surge from the 12.7 million transactions registered in the same period last year.The UAE economy is poised to experience further growth...

DUBAI, UAE - In Dubai’s economic growth story, family businesses stand tall as architects of growth, innovation and value creation. Generating over 40 percent of the emirate’s GDP, the sector represents Dubai's indomitable spirit of enterprise.Now, as the emirate seeks to unlock a new phase of high-powered growth for its...