اخبارNews

SHARJAH: Sharjah National Oil Corporation (SNOC) and its partner Eni, have announced the start-up of Mahani-1 gas well, marking the commencement of gas production from the Mahani Field, in Sharjah Area B. The announcement comes within only one year of the discovery of gas in the field, labelled as the first

UAE - Mubasher: The UAE has ranked first in the world in terms of the macroeconomic stability index, Sheikh Mohammed bin Rashid Al Maktoum, the UAE Vice President, Prime Minister, and Ruler of Dubai, announced on his official Twitter account. Sheikh Mohammed bin Rashid referred that the UAE has led the

Despite the falling interest rates, Saudi banks have fared strongly, with system loan growth having reached 11% YTD (and 14% YoY at 3Q20) from a CAGR of just 3% over the preceding three years, a report said. This, in conjunction with government support measures (SR50 billion of interest free deposits, which

The Dubai Multi Commodities Centre (DMCC) saw a record number of companies setting up their businesses in the free zone in 2020. From January to December last year, new business registrations reached 2,025, the highest in five years, DMCC said. In March 2020, DMCC rolled out a business support package, said

The UAE’s travel and tourism sector could bounce back “more strongly” than expected, Bank of America (BofA) said in its latest analysis. Though foreign direct investments (FDI) could increase in 2021, banks in the UAE aren’t likely to see a remarkable improvement, with revenues and net income expected to remain “broadly

Dubai's real estate sales curve is on the rise as the World Expo 2020 Dubai approaches, said Walid Al Zarouni, real estate expert and chairman of W Capital Real Estate Brokerage. Al Zarouni said the upcoming international event which is less than a year from now, helped drive demand for Dubai's

The annual meeting of the World Economic Forum at Davos always gets you thinking on big ideas, and there is no one better equipped to discuss them with than Badr Jafar. Jafar is chief executive of Crescent Enterprises, the Sharjah-based industrial and financial conglomerate, as well as president of the related

Saudi Arabia’s Saline Water Conversion Corp (SWCC), which operates desalination plants and power stations in the kingdom, has signed a 1.6 billion riyals ($430 million) bridge financing agreement with local banks. The financing aims to improve the utilization of assets and increase the efficiency of desalination plants Jubail 1 and Khobar

ABU DHABI- The United Arab Emirates announced on Sunday the allocation of US$2 billion to fund investment and development projects, as well as a soft loan for Mauritania. The move follows the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and His Highness Sheikh Mohamed bin Zayed Al

ABU DHABI - The United Arab Emirates announced today the discovery of 80 trillion standard cubic feet, TSCF, of shallow gas resources in place within the area between Saih Al Sidirah and Jebel Ali in the Emirates of Abu Dhabi and Dubai respectively. This new discovery reinforces the nation’s goal

DUBAI - Saudi Arabia has issued an international tender to purchase 1.02 million tonnes of animal feed barley, the main state grain buyer Saudi Grains Organization (SAGO) said on Thursday. The kingdom sought to import barley between May 15 and June 30, SAGO said, adding it would cover local demand and

RIYADH — The volume of US investments in the Saudi market until Feb. 2018 reached over SR207 billion, according to a report of the Saudi Arabian General Investment Authority (SAGIA). Some 373 American companies made investments in a wide range of areas such as the service, industry, real estate, scientific and

Bahrain - A no-go zone has been marked in northern Bahraini waters as work on a $670 million submarine gas pipeline starts. The 5km pipeline, which will store liquefied gas to import and for conversion, will be fully installed under Bahrain’s sea by the end of the year. Seafarers are being urged

District Cooling saves 50 per cent of power used for cooling, compared to standard cooling systems, according to a study made by United Nations Energy Efficiency Initiatives, reported Emirates news agency Wam. This makes district cooling one of the top energy-efficient and energy-saving accelerators in the world. Empower CEO, Ahmad bin Shafar,

Large Arabian Gulf corporations will likely tap capital markets over the next five years, in the wake of structural reforms by the governments coping with the oil price slump, Moody's Investors Service said. "GCC non-financial corporates in mature and capital intensive sectors