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,...

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...

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...

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...

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...

“As we continue to witness an ever-changing pace of development and technological advancement, regulating employment and improving human resources’ skills have become increasingly imperative to our policies. In the UAE, we have ensured gig and platform workers are granted a similar level of coverage as their co-workers in traditional sectors,"...

New York, US--The UAE and the UN have discussed joint cooperation and partnership on government experience exchange, global climate action and sustainable development as the UAE gears up to host COP28. In this regard, a senior UAE delegation met Selwin Charles Hart, the Special Adviser to the UN Secretary-General on...

NEW DELHI, INDIA – The UAE is committed to playing an active role in global efforts to shape a better future for societies and people through creating jobs, Dr. Abdulrahman Al Awar, Minister of Human Resources and Emiratization said. He said the UAE is also committed to enhancing human resources’...

DUBAI, UAE - Authorities in Yemen have identified a suspect in the killing of a World Food Program official in the southern Taez province, a security official has told AFP. Moayad Hameidi, the head of the UN food agency's office in Taez, was killed in a shooting on Friday in the...

Ras Al Khaimah, UAE: While the global news media world is being disrupted by Artificial Intelligence (AI) led by bigtime players, news organisations in the UAE have been slow in the use and adoption of AI in newsrooms, according to a paper authored by three university researchers. The findings suggest...

Economic ties between China and the Gulf region's largest economies, Saudi Arabia and the UAE, have surged since President Xi Jinping's attendance at the first Chinese-Gulf summit in Riyadh seven months ago.

For the wealthy Gulf states, combining their resources with Turkiye's defense and industrial achievements will produce lasting benefits not only in their economic diversification efforts but also in achieving greater strengths in countering security challenges, he adds.

The company's interest income reaches $797m.

Sunnyvale, CA: G42, the UAE-based technology group and Cerebras Systems, the company specializing in accelerating generative AI  on Thursday announced Condor Galaxy, a network of nine interconnected supercomputers, offering a new approach to AI compute that promises to significantly reduce AI model training time.  Cerebras Systems said that it has...

It is highest ever profit achieved by FAB in a half-year.

PARIS, FRANCE - New carbon-cutting plans by this year's UN climate talks host the UAE were branded "insufficient" by an analysis on Thursday that hit out at the oil-rich nation for allegedly undermining its own targets with plans to increase fossil fuel production. The UAE, which will host the COP28 United...

The two companies will explore opportunities globally.

Abu Dhabi, UAE - The conditions determining taxable and exempt persons, corporate tax rates and tax periods. were highlighted at the second workshop on the recently launched corporate tax organized by the UAE Federal Tax Authority (FTA) here on Wednesday. Other key topics covered during the workshop included the Small...

Dubai, UAE - The UAE has witnessed 135 percent year-on-year (YoY) growth with AED 49.25 billion ($13.37 billion) project announcements in the second quarter compared to AED 21 billion ($5.71 billion) in the same quarter last year, according to the latest construction intelligence cited in BNC Projects Journal,  The surge...

Cairo, Egypt-- The UAE and Egypt are looking to ramp up cooperation in the fields of higher education and scientific research. In this connection, Sheikh Dr. Ammar bin Nasser Al Mualla, attaché of education and technology sciences of the UAE in Egypt, discussed with Mohamed Ayman Ashour, Minister of Higher...

The highest quarterly project awards value in over five years showcases the region's determination for diversification, and reflects the strength of GCC economies.

Earlier this year, the two countries signed a Comprehensive Economic Partnership Agreement with the aim of boosting trade to $40 billion over the next five years.

DUBAI, UAE – Participants at a webinar strongly supported governments providing incentives or regulatory frameworks to encourage greater participation in green finance initiatives. The webinar was organized by Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers. Held by the chamber’s Center for Responsible Business as...

The Comprehensive Economic Partnership Agreement (CEPA), signed in March, has further enhanced bilateral economic collaboration. The CEPA sets the stage for increased non-oil intra-trade, job creation, and a significant boost in UAE exports to Turkey.

Dubai, UAE-- Seeking to forge partnerships around the world, Dubai Chambers will host a two-day event in November this year called Dubai Business Forum, bringing together key public and private sector stakeholders. The event will be hosted at the city’s Madinat Jumeirah on 1st and 2nd November, 2023, under the...

The city of Sharjah accounted for the largest (3,794) share of the transactions.

Kishida and Qatar's Emir Sheikh Tamim bin Hamad Al-Thani discussed "developments related to energy security and supplies," the Qatari leader said in a statement. They will attend a Japan-Qatar meeting that aims to "promote cooperation in energy security and in the field of clean energy and decarbonization," said Japan's foreign ministry.

Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs.

Doha, UAE - The Commercial Bank, a Qatari public shareholding company, experienced an 8.5 percent upswing in net profit, reaching $421.38 billion in the first half of 2023, compared to a net profit of QR 1,432 billion ($388.32 billion) for the same period last year. The figures issued by the...

Abu Dhabi, UAE - The United Arab Emirates (UAE) has secured the top spot in the Arab region and risen to 29th globally in the United Nations Industrial Development Organization's (UNIDO) Competitive Industrial Performance Index (CIP).  The index, which evaluates 153 countries, assesses national industrial performance and competitiveness on a...

Turkish President Recep Tayyip Erdogan has embarked on a three-state Gulf tour, beginning with Saudi Arabia, as he seeks to attract foreign investment in Turkey's ailing economy. The visit comes as Turkey battles currency collapse and soaring inflation. The Saudi-Turkish business forum was aimed at enhancing trade and investment relations.

Firm has committed $2 billion for more such carriers.

DUBAI, UAE – The city has registered a strong year-on-year growth of 44 percent in business event bid wins in the first half of 2023. The outstanding growth in the number of global events being hosted by the city contributes further to its economic growth in line with the goals...

DUBAI, UAE - The Dubai Supreme Council of Energy (DSCE) has received the ISO 50001:2018 in energy management systems and the net-zero statement of verification and assurance certificate. This followed a comprehensive assessment conducted by W3 Solutionz - USA through CanaGulf International Standardization. The new accomplishment adds to DSCE's achievements...

DUBAI, UAE - Commercial transport sector contributed AED16.1 billion ($4.38bn) to Dubai's economy in 2022, said Mattar Al Tayer, Director-General, Chairman of the Board of Executives Directors of Dubai’s Roads and Transport Authority (RTA). The sector employs around 242,000 jobs by more than 7000 companies, local media reports said. “The...

DUBAI, UAE - The Mohammed Bin Rashid Space Center (MBRSC) on Sunday announced the successful execution of the Dreams experiment by astronaut Sultan Al Neyadi on the International Space Station (ISS). The experiment, a pivotal achievement in sleep science and space research, was conducted in collaboration with the European Space...

DUBAI, UAE - Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) joined the UAE delegation to the United Nations High-Level Political Forum on Sustainable Development (HLPF), which runs from July 10-19 at the UN headquarters in New York. Established in 2012, the High-Level Political Forum is the UN’s central platform...

Dubai, UAE - Six years after imposing a comprehensive blockade on Qatar, Saudi Arabia, the United Arab Emirates (UAE), and Bahrain have nearly restored ties with the country. However, underlying tensions persist, as changing dynamics in the Middle East drive competing foreign policy priorities. These unresolved issues have the potential...

Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) and the Reserve Bank of India (RBI) on Saturday signed two Memoranda of Understanding (MoUs), which aim to support the rapid growth of trade between the two countries. The CBUAE and RBI will work together to develop a framework...

"The Emirati-Indian economic cooperation is gaining increasing momentum in sectors of the circular economy, tourism, aviation, entrepreneurship, small and medium enterprises, renewable energy, technology, digital transformation and transportation, in light of their economic partnership and the capabilities," he adds.