Browsing: Business

DP World has announced the acquisition of 100 percent of syncreon for an enterprise value of US$1.2 billion. This transaction is subject to customary completion conditions and is expected to close in second half of 2021.Syncreon is a US based

Abu Dhabi National Oil Company (ADNOC) announced that Reliance Industries Limited (Reliance), has signed an agreement to join a new world-scale chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC) production facility at TA’ZIZ in Ruwais, Abu Dhabi.The agreement capitalizes on growing

His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, chaired a meeting of the General Budget Committee, which was held at Qasr Al Watan. During the meeting, the committee discussed the UAE’s draft

The UAE retail e-commerce market reached a record $3.9 billion in 2020, a 53 percent year-over-year increase driven by the COVID-19-led digital shift, while e-commerce accounted for 8 percent share of the retail market during the same year, new analysis

The UAE GDP is expected to grow by 2.4 percent in 2021 and 3.8 percent in 2022 while the non-oil GDP to expand by around 4 percent in both years, according to the Financial Stability Report (FSR) released by the

The Central Bank of the UAE (CBUAE) has signed a Memorandum of Understanding (MoU) with the Central Bank of Egypt (CBE) to strengthen supervisory cooperation. The MoU outlines the mechanisms of information exchange to facilitate the performance of their supervisory

Shayne Nelson, Group CEO of Emirates NBD, rang the market-opening bell at Nasdaq Dubai to celebrate the listing of a US$750 million bond. The listing of this additional Tier 1 Capital bond reinforces Emirates NBD’s position as the largest financial

Al Maryah Community Bank, UAE’s first fully integrated digital bank, has announced the completion of its pragmatic architectural design of technology platform which is infused with an artificial intelligence capability that will lead to the complete transformation of digital banking,

Abu Dhabi Airports and Masdar have announced the completion of Abu Dhabi’s largest solar-powered car park, which will save 5,300 tonnes of carbon dioxide per year. The three-megawatt (MW) solar photovoltaic (PV) project is installed on the car shading at

The real estate and properties transactions valued at AED 4.1 billion in total during the week ending 20 May 2021, according to Dubai Land Department (DLD). The sum of transactions was 1,562. 120 plots were sold for AED 874.43 million,