UAE astronaut Sultan AlNeyadi posts first selfie from space
Emirati astronaut Sultan AlNeyadi is soaring. Literally. Nearly a week after docking on the International Space Station (ISS), he posted his first selfies with Earth on Wednesday. Wearing a blue T-shirt with the Mohammed Bin Rashid Space Centre logo, AlNeyadi can be seen smiling as planet Earth glows blue and white below him. “Salute from […]
EDGE to establish joint research and development centre
EDGE’s GradeOne, a defense trading specialist concentrating in manufacturing non-lethal pyrotechnics, ammunition, defense-related components and packing solutions, signed a Memorandum of Understanding (MoU) with UAVOS, a developer and manufacturer of advanced unmanned systems, to create a joint research and development, production and commercialisation centre for autonomous solutions and weapon systems. As per the MoU, […]
Dubai Salik board proposes $133.7mln dividend
Dubai road toll operator Salik, which listed its shares on the Dubai Financial Market (DFM) last year, posted a net profit of UAE Dirhams 529 million ($144 million) for the second half of 2022 (H2 2022), as road traffic in Dubai rose to pre-pandemic levels. The company’s board of directors has proposed to distribute […]
UAE’s Jaber urges Big Oil to join fight against climate change
A top oil executive from the United Arab Emirates on Monday urged the energy industry to join the fight against climate change, borrowing a famous line from a U.S. astronaut aboard a damaged spacecraft during the Apollo 13 mission in 1970. “Houston, we have a problem,” Sultan al-Jaber, chief executive of Abu Dhabi National […]
Abu Dhabi’s ADNOC Drilling board recommends $341.25mln dividend
The board of directors of ADNOC Drilling is recommending a final dividend payment of $341.25 million for 2022 after the company posted “exceptional” 2022 financial results and beat market expectations. ADNOC Drilling recorded a net profit of $802 million for 2022, up by 33% from the previous year. Its revenue rose 18% to $2.67 billion, […]
Egypt mulls cooperation with AD Ports to develop logistics areas, ports
Abu Dhabi Ports Group (AD Ports Group) is looking forward to boosting cooperation with Egypt, particularly in the development of logistics areas and ports, according to a statement by the Presidency’s Spokesman on March 5th. This came during a meeting between Egyptian President Abdel Fattah El-Sisi and CEO of AD Ports Group Mohamed Al Shamisi. […]
Abu Dhabi’s Presight AI to raise over $495mln in IPO
Abu Dhabi-based G42 Group, an artificial intelligence (AI) and cloud computing technology company, is selling a 32% stake or 1.35 billion shares in its subsidiary, Presight AI, in an initial public offering (IPO) that is set to raise 1.82 billion dirhams ($495.6 million). The IPO price is set at AED1.34 per share, with the subscription […]
$54.49mln manufacturing facility announced at Dubai Industrial City
Silver Line Gate Group (SLG) is constructing a new manufacturing, warehouse and corporate offices facility, spanning 1.37 million sq. ft., at Dubai Industrial City, a member of TECOM Group. The AED200 million manufacturing facility is set to open in Dubai Industrial City in 2025 to bolster the UAE’s commitment to building a self-reliant food security […]
Central Bank of UAE revokes licence of ‘Dollar Exchange’ house
The Central Bank of the UAE (CBUAE) has revoked the licence of Dollar Exchange, an exchange house operating in the UAE and struck off its name from the Register, pursuant to Article 137 of the Decretal Federal Law No.14 of 2018 regarding the Central Bank and Organisation of Financial Institutions and Activities. The sanction is […]
Fawry, BOTIM cooperate to enable international money transfers for Egyptian expats in UAE
The leading Egypt-based e-payment company Fawry has signed a memorandum of understanding (MoU) with the Emirati calling app BOTIM to offer residents in the UAE and Gulf Cooperation Council (GCC) countries money transfer and invoice payment services via BOTIM app, according to an emailed press release on February 27th. As per the MoU, users in […]