Milan, Italy -- Italian defense group Leonardo said Wednesday it had agreed to launch a joint venture next year with the United Arab Emirates' state-owned defense conglomerate EDGE Group. Details of the sectors covered by the joint venture, which would be 51 percent owned by EDGE and 49 percent by...
UAE platforms lead GCC crypto market
Even as the GCC countries dither to embrace cryptocurrencies, the UAE has made some significant strides in this regard.
GCC region’s cloud seeding experiments a boon or bane?
UAE is among the first countries in the Middle East to use cloud seeding technology for a project whose trials started in late 1990s.
Abu Dhabi Media taps STARZPLAY to stream AFC matches
Enthusiasts may buy a subscription of 2 sports channels for AED15 (a little more than $4) or the entire STARZPLAY package for AED40 (around $11).
Etisalat to partner with GMIS on 5G
The UAE-based company will share practices at GMIS 2021.
UAE to cut fuel prices from September 1
The United Arab Emirates will slash prices of petrol and diesel from September 1 amid the easing of Covid pandemic restrictions.
EGA sees $473m profit in H1
This was the company’s strongest H1 financial performance ever.
Tabreed ups cooling-scheme stake
The exclusive scheme supplies Al Maryah Island in Abu Dhabi.
EMotorad starts global journey with e-bike launch in UAE
The brand sees UAE as a major platform to showcase its futuristic products globally
All fully vaccinated tourists can travel to UAE
Tourists will have to do a mandatory RTPCR test on arrival, according to the National Emergency Crisis and Disasters Management Authority.
Covid-19 fails to impact realty in UAE, Saudi Arabia
While the UAE has seen a record amount of real estate sales in the first six months of 2021, Saudi Arabia has prioritized increasing the supply of housing units and strengthening partnerships with the private sector.
GCC cautious, but optimistic about crypto
The UAE and Saudi Arabia have already formed policies to regulate cryptocurrencies, while Bahrain has given an official stamp on CoinMENA, which has got regulatory approvals. Now Islamic banking-compliant cryptocurrencies are also in the fray.
Philippines-UAE trade rose 32% in first 5 months of 2021
Total trade between the Philippines and UAE already crossed Dh1.3 billion from January to May 2021
Saxo Bank reveals a 200% spike in UAE female investors
Women now make up almost 12 percent of Saxo Bank’s active clients for the market
UAE begins Unit 2 of Barakah Nuclear Power Plant
The United Arab Emirates has unveiled Unit 2 of the Barakah Nuclear Energy plant, located in Abu Dhabi’s Al Dhafra region.
UAE helps 28,000 flee Afghanistan: official
The UAE and Qatar have been instrumental staging posts for evacuation flights for Western countries' citizens as well as Afghan interpreters, journalists and others
GCC hotel industry readies for a comeback
The Gulf hotel sector's investments, according to reports, have reached $27 billion. New hotel projects worth $3.5 billion in the region were approved in 2020, indicating that investors expect the hotel market to return to normal in the next two or three years when activities resume at normal level.UAE residents got $91.4 billion in personal loans
Gross credit, which includes which includes loans to residents and non-residents and non-banking financial institutions up by 0.9 percent compared to March.
UAE banks flush with profit again with improved Q2 performance
The top ten lenders of the United Arab Emirates have shown a health rebound in profitability, with the country’s banking industry improving its performance in the second quarter of 2021.
UAE set to rake in millions from cricket
Come November, the Untied Arab Emirates will be hosting the T20 World Cup, with as many as 16 teams expected to compete in the tournament.
Women-only business package introduced in Masdar
Masdar City Free Zone offers opportunities for UAE women who constitute 70 percent of UAE university graduates and are also form an important part of Masdar’s R&D hub.
UAE, Israel ink deal for digital health solutions
DHI 2048 organisation launched in UAE is the part of latest cooperation to strengthen the ties between the UAE and IsraelADNOC signs $1bn deals with eight global contractors
Agreements have been signed for concept and front-end engineering design.
UAE hotel occupancy leaps up as tourists return
In a sign of normalcy returning, hotels across the United Arab Emirates (UAE) have reported a significant rise in occupancy rates in the first half of this year.
UAE, Philippines explore space sector collaboration
To this end, the UAE Space Agency hosted the Philippines Ambassador to the country along with a virtual delegation from the Philippines Space Agency
Six new projects approved for development of Hatta
Tourism and water have been the economic mainstay of Hatta, an inland exclave of Dubai.
GCC looks up to stars with its space probe
The GCC might have been a late entrant to the exclusive club of space programs, but with its deep pockets it has gradually squeezed its way to the top.UAE agrees to temporarily host 5,000 Afghans
The move comes following a request from the United States to help out Afghan evacuees.
Afghan evacuees touch down in UAE
About 5,000 Afghan nationals believed to be at risk due to the current crisis will be resettled in the UK.Charity, humanitarian aid workers to get UAE’s Golden Visas
The visa allows residence for five to 10 years, which is automatically renewed for people in certain categories such as doctors and researchers.
UAE, Saudi Arabia realty growth trumps Covid-19
Timely preventive measures such as vaccination of frontline construction workers, embracing new technologies , financial stimulus packages, loan relaxation and other strategies dented the effects of Covid-19 on real estate sector.UAE hosting Afghan ex-president ‘on humanitarian grounds’
Ghani fled Afghanistan on Sunday as the Taliban closed in on Kabul, before the insurgents walked into the Afghan capital unopposed
Race between UAE and Saudi Arabia heats up in logistics
The United Arab Emirates (UAE) and Saudi Arabia are engaged in a new bout of competition that could decide which of the two would eventually become the top leader in the logistics sector, in the Middle East.
Kuala Lumpur-based IILM reissues $1.25 bn short-term Sukuk
IILM's Governing Board includes the central banks and monetary agencies of UAE and Qatar as members. It is a regular issuer of short-term Ṣukūk across varying tenors and amounts to cater to the liquidity needs of institutions offering Islamic financial services.
Saudi Arabia leads GCC AI healthcare race
Experts predict AI will contribute $320 billion to the Middle East economy by 2030 and virtual care, remote patient monitoring and AI expected to account for 30 percent of hospital investment.
Green drive: Middle East bets big on renewables
To forestall the crippling effects of climate change, Saudi Arabia and the UAE have put on track projects worth billions of dollars to significantly lower emissions.
UAE halts all flights to Kabul after Taliban takeover
The United Arab Emirates has cancelled all flights to Afghanistan, after Hamid Karzai International Airport in Kabul was overrun by thousands of residents desperate to flee the capital.
UAE, Iraq moot bilateral business council
Iraq and the UAE already conduct trade that was worth around $15 billion in 2019.
Azizi Developments records 263% hike in broker registrations
The developer has strengthened and expanded its broker relationships following the introduction of its revamped channel partner strategy
Mergers, acquisitions in GCC up during pandemic
Expanding regional and global footprints, high revenues, cheap capital to invest and diversification key factors that hastened the merger processes.
Netflix rules Mideast as rivals eye content share
Arab-based platforms such as Starz Play, Wavo, and OSN have become local competitors to Netflix and gaining the ground fast as alternative sources for entertaihment.UAE, Bahrain lead MENA’s fintech sector boom
A total of 465 fintech companies in the region are expected to raise over $2 billion in venture-capital funding, compared to nearly $80 million raised by 30 fintech firms in 2017.Shareholders okay Arkan merger
Arkan will merge with Emirates Steel by the end of this year.
Mulk JV to launch Alubond in US
The JV will launch Mulk’s Alubond brand of façade materials in the US.
UAE firms face multiple cyber attacks in a day
Cyber criminals have targeted an organization in UAE 295 times per week on an average in the last six months. Banking and finance sector bears the brunt.UAE sends 300,000 COVID-19 vaccine doses to Comoros
An aircraft loaded with the supplies, which also included 600,000 injection needles, left the UAE for Comoros on Tuesday.
Emirates ‘stewardess’ on top of Burj Khalifa
The new advertisement has gone viral on social media.MENA connectedness ranking rising: Survey
The UAE is the highest ranked in the region, and the fourth country globally, in terms of overall global connectedness.ADNOC Distribution H1 net profit $313m
Higher fuel volumes, improvement in non-fuel and commercial gross profit margin and increased operational efficiencies made in the first half of 2021 helped in delivering good results.
Dubai Chamber launches online tool to fill $10b export gaps
The launch of the tool is in line with the emirate’s new target to boost its foreign trade from around $380 billion to around $545 billion over the next five years.
Drug firms urged to seek UAE advance nod for products
This will allow health authorities a pre-study of the file to issue the marketing approval in the UAE for innovative products and rare medicines once they are approved by one of reference authorities.
