The plant, set to open in 2025, will serve Saudi Arabia and export markets in the Middle East and North Africa
Abu Dhabi’s non-oil GDP grew to Dhs273bn, contributing more than 50 per cent to the emirate’s real GDP
The kingdom is looking to leverage an estimated $1.3tn worth of vastly underexplored metals and minerals to support its sustainable development goals and the clean energy transition
The kingdom has its lowest unemployment rate in two decades and has managed to keep inflation at 3 per cent
The agreements will support the efforts and objectives of the Ministry of Investment to attract investments, enable sectors to grow and facilitate access to investment opportunities
Over 80 per cent of the award value will flow back into the UAE’s economy under ADNOC’s In-Country Value programme
It’s the biggest reduction by the Organization of Petroleum Exporting Countries and its allies since 2020
Oil prices have slumped by a fifth since early August on fears over the global economy
GDP overall grew a revised 12.2 per cent from a year earlier, the fastest since 2011
Fiscal second-quarter sales increased 7.6 per cent to $1.1bn
The UAE’s non-oil exports were close to Dhs180bn, reflecting a growth rate of 8 per cent over the same period last year
Bullion is trading near a two-week low amid an ongoing discussion on whether the Fed will shift to less aggressive rate hikes
Dubai Municipality will feature four new agencies, facilitate enhanced governance, privatise eight main activities and create Dhs10bn worth of new economic opportunities
The European Central Bank (ECB) raised its key interest rate by 50 basis points, the first increase in 11 years, as it confronts surging inflation
Traders are awaiting more clarity on central bank action to tackle searing inflation
Bullion is hovering above the $1,700 an ounce level as it continues be pressured by the strength in the US dollar
Gold slumped below $1,700 an ounce on Thursday for the first time in almost a year
Bullion on Wednesday bucked a downward trend that’s seen it slide for four consecutive weeks
In July, the UAE will sign its fourth comprehensive economic partnership agreement with Colombia
From a regional perspective, the Middle East was well represented with the UAE, Saudi Arabia and Bahrain officials participating
The five areas that the three countries will cooperate on include food, agriculture and fertilisers; pharmaceuticals; textiles; minerals and metals; and petrochemicals
West Texas Intermediate futures climbed toward $111 a barrel after rising 0.5 per cent on Wednesday
The Q1 2022 figure of Dhs499.7bn marked a growth of 20.5 per cent over the same period in 2021
Investors have shunned equities and many commodities after Federal Reserve officials reaffirmed much tighter monetary policy lies ahead to cool an overheating economy and tame inflation
It indicated a 10 per cent year-on-year increase compared to the number of licences issued in Q1 2021
The boost was mainly driven by oil revenue, which rose 58 per cent compared to last year
Aramco’s output averaged 10.2 million barrels a day between January and March, up 20 per cent year-on-year
Exports recorded a growth of 35 per cent year-on-year and were valued at Dhs24.449bn
E-commerce represents a significant avenue through which the adoption of digital payments can expand growth opportunities
Kuwait Investment Authority’s Enertech Holding Co. and Pakistan Kuwait Investment Company have applied for a digital bank license and proposed a hydrogen plant and two smart cities