The amount makes 42.5% of the company's paid-up capital.

The decision of the UAE President Sheikh Mohamed bin Zayed Al Nahyan to name Tahnoun bin Zayed, who is the UAE's national security adviser and chairman of the ADQ sovereign wealth fund, as deputy ruler of Abu Dhabi along with Hazza bin Zayed also drew praises and appreciation.

The appointments signal a new phase in the UAE's leadership and its commitment to pursuing economic growth and development while maintaining political stability.

Dubai, UAE -- Dubai real estate market recorded real estate deals worth AED1.8 billion ($490 million) on Wednesday, Dubai Land Department said. The deals included 526 sales transactions worth AED1.16 billion, in addition to 89 mortgage deals of AED628.25 million, and 19 gift deals amounting to AED96.75 million. The sales...

Abu Dhabi, UAE--The UAE government has endorsed 24 national initiatives to double the country’s re-export industry by 100 per cent over the next seven years. The measures were approved during a cabinet meeting chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler...

The UAE aims to double the contribution of the digital economy to the GDP from 9.7% to 19.4% within the next 10 years, and seeks to establish itself as an innovation hub.

UAE minister said that the emirates will continue its efforts to build partnerships with strategic global markets under the country’s comprehensive economic partnerships program.

Genome programs will also help create new economic opportunities in the UAE by attracting partnerships in fields such as artificial intelligence, advanced medical care, pharmaceuticals, and research and technology.

The UAE is likely to remain the top e-commerce market in the GCC in 2023 but Saudi represents the largest potential growth over the medium and long term.

The participation of Emirati firm ADNOC is the latest sign of the quickening normalisation of relations between Israel and the UAE since their opening of diplomatic ties in 2020.

The bank cited the real estate and construction sectors as key drivers, as well as a dynamic manufacturing sector, like refineries and aluminum production.

The United Arab Emirates takes the lead as the happiest Arab country in 2023, according to the World Happiness Report, followed by Saudi Arabia and Bahrain.

The region's corporate/M&A activity is expected to grow this year on the back of an unprecedented Sovereign Wealth movements in Abu Dhabi and Saudi Arabia, says an expert.

Abu Dhabi, UAE - The Technology Innovation Institute (TII) said Monday its AI and Digital Science Research Center (AIDRC) has partnered with the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) to accelerate the emirate's goal of becoming a smart and sustainable city by 2030 by enhancing its capabilities in AI...

Dubai, UAE  - Al Ansari Financial Services on Monday announced it has set the final offer price for its IPO at AED1.03 per share ($0.26), at the top of the previously announced price range. The announcement follows the completion of the book building and subscription process for its IPO on...

The customs deal is viewed as the concluding phase of a free trade agreement following the normalization of relations between the two countries. Netanyahu describes it as historic.

DUBAI, UAE -  MD & CEO of the Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer discussed consolidating cooperation and integration with UAE Ministry of Energy and Infrastructure (MoEI). This is part of a series of mutual visits to enhance cooperation between government organisations in the UAE. The...

DUBAI, UAE – UAE Minister of Climate Change and Environment Mariam bint Mohammed Almheiri emphasized the importance of collaboration, data sharing and investment in achieving global solutions for promoting water sustainability. The minister made these comments in an interactive dialogue and side sessions at the United Nations in New York....

Abu Dhabi, UAE-- In order to improve commercial connectivity and trade between the UAE and Kuwait, AD Ports Group launched a new direct shipping service dedicated to Ro-Ro between UAE’s Khalifa Port and Kuwait’s Shuwaikh Port. Commenting on the launch of the new shipping service, Captain Ammar Mubarak Al Shaiba,...

Several factors contributed to the fall in UAE markets, including a decline in oil prices, worries about multinational banks' health.

CHENNAI, INDIA - The UAE spoke on food and energy insecurity and their implications in the second Framework Working Group (FWG) meeting within the G20 Finance Track for 2023 held here on March 24 – 25. The meeting was held to discuss the progress made on the 2023 FWG work...

"Despite the challenges faced by the global supply chains due to today’s political and economic developments, the Ministry made sure that no unjustified price hikes were implemented by suppliers. The methods for combating monopoly practices and supporting sound trade practices have also been strengthened,” he adds.

Dubai, UAE -- The 27th Dubai World Cup, which begins on Saturday at the Meydan Racecourse, will see a total of 78 international and 51 emirati horses compete for a prize money of $30.5 million. For the worldwide equestrian community, the Dubai World Cup represents the pinnacle of excellence not...

ABU DHABI, UAE - Abu Dhabi Securities Exchange (ADX) has appointed Emirates NBD Capital as a custodian. Emirates NBD Capital obtained its custody licence from the UAE Securities and Commodities Authority (SCA). Emirates NBD Capital is the global investment banking arm of Emirates NBD, a leading banking group in the...

Dubai, UAE -- The Securities and Commodities Authority (SCA) and the Abu Dhabi IPO Fund (ADIPOF) have signed a Memorandum of Understanding (MoU) to establish a general framework for initial public offerings (IPOs). The MoU aims to increase the number of IPOs, support local financial markets, and promote the country's...

MoU will be mutually beneficial to both organizations.

Dubai, UAE -- Gold prices climbed on Wednesday after the US Fed toned down its aggressive approach to reining in inflation. Spot gold was up 1.7 percent at $1,973.52 per ounce by 3:56 p.m. EDT (1956 GMT), after advancing as much as 2 percent. US gold futures settled 0.4 percent...

Abu Dhabi, UAE--ADQ has launched a vertical farming project in partnership with ZERO, a technology company based in Italy. Dubbed as the ZERO project, it is the first of several controlled environment agricultural concepts that will be housed in the AgTech Park and will aim to enhance indoor farming locally,...

The central banks of Saudi Arabia, Bahrain and Qatar raised their benchmark borrowing rates after the US Federal Reserve raised its key interest rate by 25 basis points last night.

Companies are spending more on employee salaries and retention, such as increasing insurance premiums and investing in employee benefits, says Brian Habibi of Bayzat.

The UAE accounts for over 40% of Pakistan's trade with Arab countries, with non-oil exports from the UAE to Pakistan valued at nearly AED 4.8 billion ($1.3 billion) in 2022.

Dubai, UAE -- Dubai real estate market recorded real estate deals valued at more than AED2.3 billion ($626 million) on Tuesday, Dubai Land Department said. The deals included a total of 434 sales transactions worth AED1.83 billion, in addition to 86 mortgage deals of AED426.46 million, and 139 gift deals...

At its Annual General Meeting, ADNIC okayed 40% dividend.

There is a need for more regulations in the cryptocurrency industry to prevent immoral and aberrant behavior, says Anthony Scaramucci, former White House Communications head.

The first Emirati rover to land on the moon is now on its way to completing the third milestone, the Arrival Phase, which will be the most intense part of the mission, says MBRSC.

The company had reported a net profit of $182 m for 2022.

Dividend of 13.5 fils per share highest ever in company's history.

Women's achievements at all levels during the past 50 years are widely regarded as an essential foundation for shaping the future of the UAE and must be preserved, says Alia Al Serkal, Head of People Learning & Growth at du.

As the effects of climate change intensify each year, there is an urgent need to transform multiple industries to meet sustainable development targets, avoid greenwashing, and create transparent and pragmatic resolutions, adds Hitchen, suggesting the plan of action for the region.

SHARJAH, UAE - Sharjah Electricity, Water and Gas Authority (SEWA) participated in a discussion on modern and innovative technologies in water desalination and their contribution to achieving sustainability. The discussion was a part of the Water Desalination Projects Forum in the Middle East and North Africa, held in Abu Dhabi....

The mutual investments between the two countries are witnessing continuous growth in various economic and commercial sectors, most notably real estate, logistical transportation, storage, financial services, insurance activities, manufacturing and information technology.

Abu Dhabi, which normalized relations with Assad's government in 2018, has led aid efforts in the aftermath of the February 6 earthquake that struck southeastern Turkey and northern Syria, killing tens of thousands. A diplomatic momentum generated by aid efforts in the quake's aftermath could bolster Damascus's relations with Middle...

BELGRADE, SERBIA - UAE Minister of State for Public Education and Advanced Technology  Sarah Al Amiri discussed cooperation in research and development (R&D), advanced technology, sustainability, food technology with the Serbian government. Al Amiri, in her visit to Serbia, discussed developing tools to finance research, innovation, energy transition and developing...

Dubai, UAE -- AD Ports Group said Sunday it has signed a concession agreement to develop and operate a multi-purpose port in Safaga in Egypt besides two 15-year agreements, an MoU and three Head of Terms with Egyptian authorities for multi-purpose, RoRo and cruise terminals, as well as logistics services...

She was speaking at the Dubai International Equestrian Conference, organized under the theme "A touch of loyalty and gratitude .. Sheikh Hamdan bin Rashid: 50 years of giving to equestrianism," was held concurrently with the 20th Dubai International Arabian Horse Championship.

PARIS, FRANCE  -  COP28 President-Designate Dr. Sultan Al Jaber met French President Emmanuel Macron and outlined his vision on the need to reform multilateral financial institutions to unlock capital for clean technologies and adaptation efforts. During his meeting with Macron, Dr. Al Jaber emphasized the need for ambitious reforms across...

Abu Dhabi, UAE – The UAE banks provided AED 83.3 billion ($23 billion)  in financial facilities to small and medium-sized enterprises in 2022, according to the latest data released by the Central Bank of the UAE (CBUAE). Loans to SMEs accounted for 10.4 percent of the total accumulated balance of...

Dubai, UAE-- Consumer spending in the UAE has shot up 19 percent in 2022 as against the previous year, according to Majid Al Futtaim's "state of the UAE retail economy" Q4 report. There was a notable 13 percent growth in spending across the retail economy for the full year including,...

Abu Dhabi, UAE - The Abu Dhabi Securities Exchange (ADX) has reported the execution of 10 significant deals with a total value of over AED15.6 billion ($4.24 billion) since the beginning of 2023. According to ADX data, these deals were carried out through 321.14 million shares of three listed companies...

TOKYO, JAPAN - The ninth session of the Abu Dhabi-Japan Economic Council (ADJEC) here has reaffirmed its commitment to further enhance partnerships and benefits from investments opportunities. Chairman of Abu Dhabi Department of Economic Development (ADDED) Ahmed Jasim Al Zaabi and President of Japan Cooperation Center for the Middle East...