This brings the total dividend for 2023 to $717 million.

The offer was oversubscribed 165 times for all tranches combined.

London, United Kingdom--The UK announced Wednesday that it plans to bar overseas governments from owning British newspapers, a move that could scupper the contentious Abu Dhabi-led takeover of the Telegraph Media Group. Stephen Parkinson, a media minister, announced in the upper-chamber House of Lords that the Conservative government would amend proposed...

Abu Dhabi, UAE--ADNEC Group has announced the launch of the region's first Bitcoin MENA Conference 2024 set to take place on 9-10th December 2024 in the Abu Dhabi National Exhibition Centre (ADNEC Centre Abu Dhabi). Co-organised by Capital Events, the event management arm of ADNEC Group, and BTC Inc., the...

Dubai, UAE - More than 70% of surveyed retailers in the UAE have experienced increased revenue and higher customer footfall since adopting digital payments,  a study conducted by Visa in the United Arab Emirates (UAE), titled 'Value of Acceptance’ has revealed. The study focused on two groups of merchants - those...

Dubai, UAE--Total spending using international cards in the UAE witnessed a growth of more than 25% during the year 2023. J.K. Khalil, General Manager, MENA East, Mastercard, told Emirates News Agency (WAM) that digital payments continue to experience remarkable growth in the UAE, with more users and companies opting for...

Dubai, UAE -- Dubai hotels achieved a 3.4 percent year-on-year growth in occupancy levels, reaching 90.8 percent, according to preliminary data for February released by CoStar, a provider of global real estate information, analytics, and online marketplaces. Other key metrics also showed positive growth, with the average daily rate (ADR)...

DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in technology and digital services for the maritime sector. This collaboration aims to develop and operate the UAE Blue Pass platform, which is dedicated to creating quality packages of privileges and...

Beaten 1-0 in the first leg in the United Arab Emirates, Ronaldo took the quarter-final to penalties when he held his nerve from the spot in the 118th minute. His calmly taken spot-kick made it 4-3 on the night to the hosts, who had Ayman Yahya sent off in the...

Abu Dhabi, UAE--The technological and structural advancements in the UAE financial sector continues to enhance security, operational efficiency, accessibility of mobile banking applications, online banking and overall customer experience, according to the 4th Quarter Report of 2023 issued by the Central Bank of the UAE (CBUAE) on the Monetary, Banking...

Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of more than 3% during 2025-2028, according to a report released by GlobalData, a data analytics and consulting company, headquartered in London. The growth is attributed to the increase in investments...

ABU DHABI, UAE – The Artificial Intelligence and Advanced Technology Council (AIATC) announced on Monday the creation of MGX, a technology investment company to enable the advancement and deployment of leading-edge technologies intended to improve the lives of current and future generations. Mubadala and G42 will serve as foundational partners...

DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the UAE. There's been a significant increase in Indian businesses setting up there, with 28 percent more new companies in 2023 compared to the previous year. This resulted in over 190...

Dubai, UAE - The UAE's online shopping market is gearing up for unprecedented growth, with revenue projections hitting $9 billion by the end of 2024 and an impressive $17 billion forecasted for 2025. The trajectory is emblematic of the broader Middle East and North Africa (MENA) region's e-commerce landscape, poised...

Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues to deepen the cooperation between the two countries. In this connection, Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President, held several bilateral meetings...

Rise of flexitarian and vegan diets in the region is driving demand for alternative proteins, with the market expected to cross $2.71 billion by 2029, says a report.

Sharjah, UAE -- Sharjah witnessed real estate deals worth AED 3.1 billion ($844 million) in February 2023, according to the Real Estate Transactions and Mortgages Movement report issued by the Sharjah Real Estate Registration Department. The report said the results indicate that the real estate sector in Sharjah continues to...

Abu Dhabi, UAE - The UAE has been elected the Vice Chair of the UNESCO's Intergovernmental Committee (IGC) for the Protection and Promotion of the Diversity of Cultural Expressions for 2025. The appointment acknowledges the UAE’s contributions to cultural diversity and its role in fostering a multicultural and civilized tapestry...

DUBAI, UAE – Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said that under the guidance of Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum, the emirate has achieved remarkable success in expanding endowment assets and enhancing service endowments. Dubai witnessed an...

The law issued by Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum exempts the foreign banks licensed to operate in the Dubai International Financial Centre. Besides all foreign banks operating in Dubai, the law applies to special development zones and free zones.

ABU DHABI, UAE – Abu Dhabi Commercial Bank (ADCB) has approved the Board of Directors proposal to distribute a cash dividend of US$0.15 (AED0.56) per share, translating to a total pay-out of US$1.1 billion (AED4.099 billion) equivalent to 50 percent of its 2023 net profit. This came as the ADCB...

Abu Dhabi, UAE--The UAE Ministry of Defence and Masdar have signed an agreement to develop multi-solar plants across Abu Dhabi. Emerge, a joint venture between the UAE’s Masdar and France’s EDF Group, will provide a full turnkey solution for the projects, including finance, design, procurement, construction, operations, and maintenance for...

The company’s 2023 annual revenue rises to US$1.2 billion.

Sharjah, UAE-- Nearly 400,000 visitors from Europe have traveled to Sharjah during last year, marking a notable 28 percent increase compared to the previous year, with Europeans constituting 27 percent of the total visitor count. Sharjah Commerce and Tourism Development Authority (SCTDA) made the announcement during its press conference on...

Dubai, UAE - The Mohammed Bin Rashid Space Centre (MBRSC) on Tuesday announced the graduation of Emirati astronauts Nora AlMatrooshi and Mohammad AlMulla from the 2021 NASA Astronaut Candidate Class training program in a ceremony held at the Johnson Space Center in Houston, USA.  The milestone marks the culmination of...

An anti-ship ballistic missile struck the Barbados-flagged, Liberian-owned M/V True Confidence, after which its crew reported "three fatalities, at least four injuries, of which three are in critical condition, and significant damage to the ship", the US Central Command (CENTCOM) said in a statement.

The surge of three GCC nations in the Global Soft Power Index, with UAE leading with a perfect economy score, highlights their global influence and reputation enhancements.

DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on the previous year’s 88 million, according to latest figures released by the mall on Tuesday. Figures also showed a staggering 20 million people visited the mall in the first two...

Revenue in 2023 grew by 10 percent YoY to $599 million.

They will utilize outdoor media-leasing spaces for advertising.

Abu Dhabi, UAE--Ireland wants to become a gateway for the UAE and other Gulf states to the European Union (EU) market, Simon Coveney, Ireland’s Minister for Enterprise, Trade and Employment, told the Emirates News Agency (WAM). As evidence of thriving relations, he highlighted the growing Irish diaspora in Gulf Cooperation...

Dubai, UAE - The UAE’s foodservice market is poised to reach $19.98 billion in 2024, with further projections indicating a substantial growth trajectory, a whitepaper released by real estate services firm JLL has revealed.  The whitepaper highlights the unprecedented growth opportunities within the UAE's Food and Beverage (F&B) industry.  The report...

Abu Dhabi, UAE--The MENA region's commercial aircraft services market will more than double in value by 2042, according to Airbus’ latest Global Services Forecast (GSF). Growing to US$28 billion from US$12 billion, and registering a 4.4 percent average annual growth, the regional expansion will surpass the global average growth of...

It will make next-generation radar systems in UAE.

Toll usage revenue rose 11.7% YoY to US$502million.

DUBAI, UAE – Dubai International Boat Show has wrapped up following a hugely successful week of high-value boat sales, important discussions addressing industry developments, groundbreaking agreements and partnerships set to shape the future of the yachting world. The exhibition, which concluded on Sunday, is recognized as one of the most...

Dubai, UAE - The Middle East has emerged as a prominent player in global CEO appointments, securing 68 out of a total of 1,221 positions at the largest public listed companies worldwide. Heidrick & Struggles revealed in a report titled "Route to the Top 2023". The countries contributing to these appointments...

Abu Dhabi, UAE-- The UAE has expanded its network of trading partners around the world through comprehensive economic partnerships, contributing to increasing trade and investment flows and enhancing global economic growth, according to top officials from the country. Top economic officials have stressed the UAE's significant role in supporting the...

“It highlights the collaborative efforts of various committees, entities, and national bodies, including the Central Bank and the National Committee for Combating Money Laundering, Terrorism Financing, and Financing of Illegal Organizations,” adds Balama, who also chairs the National Anti-Money Laundering and Counter-Terrorism Financing Committee.

The duration of each contract is of 22 months.

Abu Dhabi, UAE--The 13th Ministerial Conference (MC13) of the World Trade Organisation (WTO) has concluded with the acceptance of Abu Dhabi Declaration, a landmark document securing important new trade agreements that will extend the benefits of the global trading system to more nations. Following a week of intensive negotiations, Dr...

Abu Dhabi, UAE - The Emirates Nuclear Energy Corporation (ENEC) on Friday announced that its operating and maintenance subsidiary, Nawah Energy Company, has successfully started-up the reactor of Unit 4 of the Barakah Nuclear Energy Plant (Barakah Plant). The reactor has begun initial production of heat through nuclear fission, used...

Speaking at the closing press conference, the Emirati chair of the so-called MC13 gathering, Thani Al Zeyoudi, acknowledged the shortcomings. "Despite our best efforts, we failed to agree on some texts which are of great importance to many of our members," said Al Zeyoudi, who also serves as the UAE's foreign...

The bank achieved a Return on Equity of 27.1 percent.

ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while traders awaited remarks from several Federal Reserve officials. According to Reuters, spot gold edged 0.2 percent higher to $2,047.29 per ounce, as of 0635 GMT, after hitting $2050.59 on Thursday...

Barcelona, Spain -- e& Friday pledged to invest $6 billion between 2024 and 2026 in technological advancement, infrastructure development, and innovative digital solutions to extend meaningful connectivity to everyone. In an announcement at Mobile World Congress (MWC), e& said this investment is set to provide accessible and affordable network connectivity...

Dubai, UAE - Leading financial institutions are spearheading a transformative wave in the UAE real estate sector through the introduction of seamless cross-border payments. The initiative is poised to enhance accessibility and efficiency for global investors seeking to engage in property investment within the UAE.  Traditionally, the process of investing...

Abu Dhabi, UAE--Masdar, the UAE’s clean energy powerhouse, has completed its acquisition of a 49 percent shareholding in the 3 gigawatt (GW) Dogger Bank South (DBS) project – one of the world’s largest planned offshore wind farms. The planned $13.89 billion joint investment with RWE, a leading renewable energy company...

Abu Dhabi, UAE-- The UAE and Russia have held talks to enhance the parliamentary cooperation between the two countries. In this connection, a remote meeting was held between Dr. Ali Rashid Al Nuaimi, Chairman of the Defence, Interior and Foreign Affairs Committee of the Federal National Council (FNC), and Grigory...

The new projects are estimated to value US$26.14 billion.