Abu Dhabi bourse announces its first green bond listing
The Abu Dhabi Securities Exchange (ADX) announced on Thursday the listing of its first green bond, which is expected to contribute to the UAE’s efforts towards a net-zero future in 2050. The $700 million fixed-rate amortising senior secured green bonds were issued by solar energy firm Sweihan PV Power Company (SPPC), which operates Noor Abu […]
Ministry of Defence amends national service term: UAE
The national service term for male recruits – holding a high school diploma or its equivalent and above – has been shortened to 11-month, and for those who didn’t finish their high school, the term will be three years, a Ministry of Defence statement said on Thursday. Meanwhile, the statement added that the national service […]
Dubai Trade, Dubai Chamber tie up to expand services
Dubai Trade, a DP World company, and the Dubai Chamber of Commerce have signed an agreement to allow the local business community easier access to the Chamber’s trade services. This includes certificates of origin, attestation, and other membership services, which will be accessible on the Dubai Trade Portal, a single window platform for international trade. […]
Over 2.56mln passengers pass through Abu Dhabi Airport in Q1
Abu Dhabi Airports today released its passenger traffic results for the first quarter of 2022. It revealed that the airport welcomed 2.56 million guests, more than triple the number seen during the same period last year, on the back of resurgent demand and the resulting introduction of new frequencies, routes and services. First quarter statistics […]
Dubai’s DEWA, Infra X develop IoT terminals for DEWA-SAT1
Dubai Electricity and Water Authority (DEWA)’s Research & Development (R&D) Centre, in collaboration with Infra X, the IT and telecommunications arm of Digital DEWA, and their British technical partner Wyld, has developed satellite Internet of Things (IoT) terminals for DEWA’s 3U nano satellite, DEWA-SAT1. DEWA launched it as part of its Space-D programme and became […]
Emirates says its Boeing 787 deliveries delayed by at least a year
Emirates Chief Operating Officer Adel Al Redha said on Wednesday the airline would not receive its Boeing 787 Dreamliners in 2023 and may not even receive its first until 2025 due to production issues at the U.S. plane maker. “The 787 was supposed to be delivered in 2023. Now we know for sure that’s not […]
Etihad Rail to outline roadmap for region’s transport logistics sectors
Etihad Rail, the developer and operator of the UAE national railway network, is set to host the 16th edition of Middle East Rail to outline the roadmap for transforming the transportation & logistics industries in the region. To be held from May 17 to 18 at the Abu Dhabi National Exhibition Centre, the event will […]
Deyaar sees 67% higher profits in Q1-22
Deyaar Development reported a 67% year-on-year (YoY) surge in its net profits to AED 25.06 million in the first quarter (Q1) of 2022 from AED 15.05 million, according to the company’s unaudited consolidated financials for the three-month period ended 31 March 2022. The company generated revenues of AED 161.89 million in Q1-22, up 9% from […]
ATM Dubai: Hotels in the Middle East could face recruitment crisis
Hotels in the Middle East could be facing a talent recruitment challenge after staff shortages in some European countries have reached crisis levels. The impetus is on the industry to shake off the reputation it has for hard, menial work, unsocial hours and poor pay, said Tim Cordon, area senior vice president, Middle East & […]
Azizi’s Creek Views I project on track for Q2 handover
UAE-based Azizi Developments has announced that it has made rapid progress on its Creek Views I project, located in the Dubai Healthcare City. The key mixed-use development has reached 95% completion and is scheduled to be handed over by the second quarter of 2022, with its structure, blockwork and internal plastering already completed, and its […]