ADNOC Drilling to be added to MSCI’s flagship indexes on August 30
ADNOC Drilling Company has announced that its stock has been selected for inclusion in the prestigious MSCI indexes effective post market close on 30th August 2024. ADNOC Drilling will be included in the MSCI Indexes including MSCI EM, and MSCI UAE after meeting the necessary criteria. The Company will become the 12th member of the […]
UAE Government issues federal decree-law amending domestic workers law
The UAE Government has issued a federal decree-law amending specific provisions of the Federal Decree-Law Concerning Domestic Workers and its Amendments. These amendments aim to strengthen the rights of all parties involved in employment relationships, as well as facilitate and accelerate resolving disputes. The new decree amends the jurisdiction for disputes related to domestic workers, […]
UAE leaders congratulate President of Chad on Independence Day
President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to Mahamat Idriss Deby Itno, President of the Republic of Chad, on the occasion of his country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and […]
UAE a global hub for cultivating disruptive technology: AI experts
Executives from leading artificial intelligence (AI) companies have highlighted the leadership of the UAE and Dubai in attracting global innovators, startups, and capital, as well as leaders from various sectors of the digital economy to the Middle East. In statements to the Emirates News Agency (WAM) during a panel discussion held at the Dubai International […]
NMDC Energy recognised as Industry 4.0 Digital Leader by MoIAT
NMDC Energy, a subsidiary of NMDC Group, has been officially recognised and certified as an Industry 4.0 Digital Leader by the Ministry of Industry and Advanced Technology (MoIAT). This distinction recognises NMDC Energy as a leader in the Fourth Industrial Revolution, leveraging state-of-the-art technologies to enhance operational efficiency, promote sustainable growth, and increase competitiveness within […]
Abu Dhabi’s ADQ signs agreement to acquire strategic minority investment in Sotheby’s
ADQ, an Abu Dhabi-based investment and holding company, has signed a definitive agreement with Sotheby’s, the global leader in fine art and secondary market luxury, for ADQ to acquire a minority interest. Under the terms of the agreement, ADQ will acquire newly issued shares of Sotheby’s to further strengthen its balance sheet and augment the […]
Abu Dhabi realty makes steady gains in Q2 2024: ValuStrat report
Abu Dhabi’s real estate sector continues to remain robust, according to the latest quarterly report by ValuStrat. The second quarter of 2024 witnessed sustained growth across all segments. Residential property values soared, with villa prices surging by an impressive 7.3% year on year (YoY) and 2.2% quarter on quarter (QoQ). Apartment prices also recorded commendable […]
UAE to celebrate Pakistan’s 77th Independence Day with grand event in Dubai on August 11
The UAE will mark Pakistan’s 77th Independence Day with a grand celebration in Dubai on August 11. The event will be attended by Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, and Faisal Niaz Tirmizi, Ambassador of Pakistan to the UAE, along with diplomats and prominent figures from the Pakistani community. Organised […]
UAE national banks provided Dh25.7 billion in credit facilities to business, industrial sectors in 5 months
Credit facilities provided by the UAE national banks to the business and industrial sectors amounted to Dh25.7 billion during the first five months of 2024, according to the latest figures released by the Central Bank of the United Arab Emirates (CBUAE). The apex bank’s figures showed that the two sectors saw a 3.5 percent rise […]
Abu Dhabi realty sees steady gains in Q2: Asteco report
Abu Dhabi’s real estate market experienced significant gains across rental rates, sales prices, and transaction volumes in the second quarter (Q2) of 2024, according to the latest report issued by the real estate services company, Asteco. Rental Rates and Demand The rental market in Abu Dhabi remained robust, particularly in upscale areas, the report showed. […]