Consortium plans to develop $5bln UAE-Oman-India undersea pipeline
South Asia Gas Enterprise (SAGE), a consortium of companies in deepwater pipeline projects, is planning a $5 billion undersea liquefied natural gas (LNG) pipeline from the Gulf to India. The consortium has sought help from India’s Ministry of Petroleum to develop the pipeline, Financial Express reported, citing SAGE director Subodh Kumar Jain. The project’s technical […]
ADNOC Drilling posts 25% jump in Q1 net profit
ADNOC Drilling Co., a subsidiary of Abu Dhabi’s state oil company ADNOC, reported a Q1 2023 net profit of $219 million, 25% higher year-on-year (yoy) on the driven by onshore and oilfield services segments. The net profit fell shy of analysts’ mean estimate of $229.50 million, according to data compiled by Refinitiv’s Eikon. Revenue for […]
Dubai: Fintech helps DIFC grow faster than emirate’s overall economic growth
Financial technology (popularly known as Fintech) has become a major growth driver for the Dubai International Financial Centre (DIFC), helping it to grow faster than Dubai’s overall growth rate. Essa Kazim, governor of DIFC, said the financial centre has become a major engine of growth for the emirate’s economy and a significant contributor to […]
Dubai’s Department of Economy and Tourism celebrates successful participation at ATM 2023
Dubai’s Department of Economy and Tourism (DET) made an impressive showing at the 30th edition of Arabian Travel Market (ATM), held from 1st-4th May at the Dubai World Trade Centre, further reinforcing Dubai’s position at the forefront of the world’s leading travel destinations. More than 122 public and private sector establishments held a large number […]
Qatar and UAE in process of restoring diplomatic ties, official says
Qatar and the United Arab Emirates (UAE) are in the process of restoring diplomatic ties and reopening embassies, two officials said, more than two years after Arab states ended a boycott of Doha that had shattered the Western-allied Gulf Arab bloc. “At present, the activation of diplomatic ties, which will include the reopening of […]
$5bln dollars of UAE investments in Brazil
Abdullah bin Touq Al Marri, Minister of Economy, said that the Emirati-Brazilian partnership is based on solid foundations of friendship and respect for mutual interests. ‘’The bilateral relations between the two countries have experienced real development in a variety of political and economic spheres, and they have been enhanced by several official visits at the […]
ADFD backs AI industries to enhance UAE’s global standing in advanced technology
In a bid to strengthen the UAE’s standing as a global hub for advanced technology, a delegation from the Abu Dhabi Fund (ADFD) for Development and the Abu Dhabi Exports Office (ADEX) recently visited the Abu Dhabi-based artificial intelligence and cloud computing technology holding company, G42. The delegation discussed the joint strategic cooperation and […]
Dubai records over $327mln in realty transactions Wednesday
Dubai real estate market recorded 440 sales transactions worth AED1.1 billion, in addition to 93 mortgage deals of AED153.86 million, and 12 gift deals amounting to AED25.55 million on Wednesday, data released by Dubai’s Land Department (DLD) showed. The sales included 401 villas and apartments worth AED778.34 million, and 39 land plots worth AED320.23 billion. […]
Presidents of UAE, Egypt review bilateral relations, regional developments
CAIRO: President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Egyptian President Abdel Fattah El Sisi held discussions today aimed at further strengthening bilateral ties between the two nations. During a meeting at the Ittihadiya Presidential Palace in Cairo, the two leaders addressed a number of issues of interest and exchanged views on the […]
Sharjah records real estate transactions worth $463mln in March
The real estate sector in Sharjah continued to thrive during March 2023, as the volume of real estate transactions in the emirate reached AED1.7 billion. This reflects the continued growth and prosperity of the real estate sector in Sharjah, and its success in building and ensuring a motivating, attracting, and supportive environment for business […]