Indian rupee drops against UAE dirham as oil prices firm up
The Indian rupee declined by 10 paise to 82.26 against the US dollar (22.41 versus the UAE dirham) in opening trade on Wednesday due to firm crude oil prices and a stronger greenback. Early gains in Indian stock markets also restricted the rupee’s losses against the dollar. At the Indian interbank foreign exchange market, the […]
GRID GROWTH: Dubai Electricity and Water Authority shares T&D numbers for 2022
Dubai Electricity and Water Authority’s (DEWA) announced on Wednesday the growth numbers for its electricity, water transmission and distribution grids in 2022. The total length of electricity transmission lines reached 4,332 kilometres (km) The total length of electricity distribution lines – underground cables increased to 37,541 km. The total length of electricity distribution lines – […]
UAE’s Aldar to build new flats, penthouses dedicated to holistic health, wellbeing
UAE developer Aldar Properties launched a new project on Monday that will boost its real estate portfolio with 204 new apartments and penthouses, as it looks to tap into the growing demand for homes purposely built to support holistic health and wellbeing. The new “wellness” development, dubbed The Source, forms the next phase of Aldar’s […]
Abu Dhabi’s Presight AI soars on market debut
Shares in Abu Dhabi big data analytics company Presight AI climbed as much as 176% on their stock market debut after raising 1.82 billion dirhams ($495.6 million) in an initial public offering (IPO) for almost a third of the business. Presight’s shares rose as high as 3.70 dirhams on the Abu Dhabi Securities Exchange […]
UAE-India investor meeting to be held in Srinagar
A UAE-India Investor Meet, comprising meetings between entrepreneurs from various emirates and the Jammu and Kashmir government, business networking and discussions on foreign investment opportunities in the Union Territory, will be held in Srinagar city on 19th March. This was announced by the Department of Industries and Commerce of the Jammu and Kashmir government today. […]
AD Ports to develop and operate Safaga Port in Egypt
AD Ports Group, the leading facilitator of global trade, logistics, and industry, today announced the signing of a concession agreement to develop and operate a multi-purpose port in Safaga in Egypt, in addition to signing of two 15-year agreements, a Memorandum of Understanding (MoU) and three Head of Terms (HoT) concerning ports located in Egypt’s […]
Etihad Rail to boost UAE’s economic growth, research shows
The UAE economy is set to get a major boost as Etihad Rail comes onstream, a new report has said. The rail network will boost the country’s freight transport sector, supporting ongoing growth in one of the key components of the local economy, according to Emirates NBD Research. Trade and freight transport services have been […]
RAK signs deals for vertiport, new Germany flights
Three strategic multi-stakeholder agreements were signed at the 10th edition of the Arab Aviation Summit (AAS), which concluded its three-day session in Ras Al Khaimah on Thursday. The agreements underscored the summit’s growing importance as a platform for facilitating public-private cooperation and opening doors for regional and global partnerships, organisers said. AAS 2023 was […]
Binghatti completes work on key Dubai project ahead of schedule
Binghatti, a leading real estate developer in Dubai, has announced that work has been completed on its prime project, Binghatti Creek, located in Al Jaddaf area within the Dubai Healthcare City, much ahead of its deadline, which was scheduled for the end of this year. The project’s completion date is considered impressive, considering the […]
TECOM Group shareholders approve $54.49mln cash dividend for H2 2022
TECOM Group has approved the Group’s financial statements for the year ended 31st December 2022. The Board of Directors approved to distribute a cash dividend of AED200 million in April 2023, bringing the total amount of dividend distributions for the second half of 2022 to AED400 million. The announcement came during the Annual General […]