AD Ports

AD Ports, Red Sea Ports Authority sign agreement for projects in Egypt

The agreement includes AD Ports as part of a consortium that will develop, operate and manage a multi-purpose terminal in Safaga Port

Volkswagen

VW sees better chip supplies in second half, boosting output

Volkswagen confirmed a projection that deliveries will rise by as much as 10 per cent this year

Cisco , Mclaren

Cisco signs as an official technology partner of McLaren Racing

With the expanded relationship, McLaren will have access to Cisco’s full portfolio of solutions across enterprise networking, wi-fi, and collaboration

Fame MMA Everdome

Sports organisation FAME MMA acquires land on Everdome’s metaverse

As the landowner within the metaverse, FAME MMA will have the opportunity to reach fans on a new level

Atos VMware partnership

Atos, VMware extend strategic partnership to help organisations derive value from data

Companies expand partnership to help meet customers’ data sovereignty and interoperability needs, and align with Gaia-X principles

Covid cases August 12

UAE reports 196 Covid-19 cases, 301 recoveries

The nationwide case count has risen to 899,637

employee engagement

Truly Secure, Workfam partner to elevate employee engagement in the region

The partnership followed shortly after the employee engagement solution identified the need for increased security protection

Biomass. emissions

First African emissions reduction credit platform unveiled

The platform, to be known as CYNK, will use the Hedera Hashgraph public decentralised ledger to track emission reductions

Good times are ahead for lithium miners as prices continue to surge

The popularity of electric vehicles has driven prices for battery metals sharply higher

Sandbox AQ

Google spinoff Sandbox AQ gets backing from CIA’s venture arm

The CIA’s In-Q-Tel was joined by Paladin Capital Group, which backs innovative tech companies, in Sandbox AQ’s first round of fundraising

Dubai

Dubai saves 2.2 TWh of electricity, 5.6 billion gallons of water in the past decade

Savings in the commercial sector between 2012 and 2021 amounted to 1.3 TWh of electricity and 2.5 billion gallons of water

Museum of the future

Emirates unveils Dubai’s Museum of the Future livery on A380s

The airline will unveil the special livery on a total of 10 A380 aircraft, which will in turn fly to around 30 destinations over the coming year

UAE Central Bank

UAE Central Bank raises base rate by 50 basis points

The base rate suggests the general stance of the Central Bank’s monetary policy

Bitcoin

Bitcoin tests $39,000 in push toward high end of trading range

Crypto assets have all been weighed down as the Federal Reserve and other global central banks raise interest rates

OSS

What the billion-dollar OSS market means for software delivery in the UAE

Nearshoring – outsourcing service provision to another company in a nearby country is rapidly growing. Shankar Garg, MD, Xebia Middle East outlines why this is a game-changer in software delivery in the UAE

Apple’s Chart-Topping Run Gets a Boost From Retail Investors

Apple hires 31-year Ford veteran to ramp up electric-car work

An Apple car would put the company in competition with Tesla and Lucid Group as well as traditional automakers racing to introduce electric vehicles

Financial

Is the financial sector still on cybercriminals’ radars?

The New York Federal Reserve noted a report that financial firms experience cyberattacks 300 times more than other industries

5G Voice

5G voice users to reach 2.5 billion globally by 2026 – research

Despite the growth of voice-over-5G, the report forecasts operator-billed voice revenue will decline by 16 per cent over the next four years

Seha

SEHA appoints Saeed Jaber Al Kuwaiti as new group chief executive officer

Al Kuwaiti will be responsible for providing strategic leadership across the SEHA network

Stellantis

Stellantis to buy Mercedes and BMW’s car-sharing venture

The acquisition comes a little over a year after the mega-merger between Fiat Chrysler and PSA Group

Crude oil japan

Japan increases crude oil imports from the UAE

Japan’s total oil imports in March amounted to 89.15 million barrels, compared to 78.51 million barrels in February

Emirates Bali

Dubai’s Emirates resumes flights to Bali

The resumption of services to Bali, comes with the easing of international travel restrictions, and ramping up of global operations

Dubai's Virtual asset

Dubai’s Virtual Assets Regulatory Authority enters the metaverse with Sandbox HQ

As the world’s first regulator to make its debut in the metaverse, VARA aims to ensure that the regulator is accessible to its industry in their environment

ADNOC Borealis acquisition

Abu Dhabi National Oil Company to acquire 25% stake in Borealis

The investment in Borealis expands ADNOC’s international footprint in the fast-growing chemicals and petrochemical sector in Europe and the Americas

DEWA plant

DEWA nears completion of SWRO plant in Jebel Ali

The Dhs897m SWRO desalination plant has a production capacity of 40 million imperial gallons per day of desalinated water

Standard Chartered AME Q1 2022 150303326

Standard Chartered reports record Q1 performance in MEA region

The bank saw operating profit rise by 59 per cent in the region, with operating profit for a single quarter crossing $300m for the first time in nearly a decade

Network Nayax retail Getty images

Network, Nayax to expand UAE’s unattended self-service retail segment

Network and Nayax’s solution allows customers to select a product or service and pay using a debit or credit card at unattended self-service payment kiosks

ADDED Abu-Dhabi_

Abu Dhabi’s ADDED introduces easy payment plan for business owners

The agreement signed between ADDED and FAB, ADCB, CBD and ADIB will help credit card holders pay the charges for ADDED’s services in installments

Property market Abu-Dhabi-e1645007828300

Abu Dhabi: Property market transactions reach Dhs11.3bn in Q1 2022

The UAE capital’s property market recorded 3,304 transactions, with Yas Island topping the list followed by Al Saadiyat Island and Al Reem Island

Century Financial

Investment firm Century Financial acquires Category 1 SCA licence

The new licence recognises Century Financial as a trading broker of OTC derivatives and currencies in the spot market