ADNOC Logistics and Services (ADNOC L&S) has officially completed its $1.04 billion (AED3.8 billion) acquisition of an 80% stake in Navig8 TopCo Holdings Inc. (Navig8), a global shipping and marine services company. The deal, which took effect from 1st January 2024, includes a plan to acquire the remaining 20% stake by mid-2027 for an additional...
A Dubai-based private developer, Sobha Group, has announced a massive Dh150 million bonus for its employees who were not part of the company’s existing incentive schemes. The bonus, distributed in December 2024, was awarded to staff across multiple departments as recognition for their hard work and contributions to the company’s success. Ravi Menon, chairman of...
DP World, the global logistics leader, announced it has exceeded 100 million TEUs (twenty-foot equivalent units) in container handling capacity across its global operations. This achievement highlights over a decade of strategic investments worth $11 billion in infrastructure upgrades and expansions. In the last 10 years, DP World’s capacity has grown by 33%, starting from...
Hussain Sajwani, founder of the Damac Group, plans to invest $20 billion in building data centers across the United States. The announcement was made by President-elect Donald Trump during a press conference at his Mar-a-Lago resort in Florida. Sajwani later confirmed the news to Gulf News. The investment will focus on establishing data centers in...
Sharjah has introduced a decision revising the fees for releasing vehicles impounded due to serious traffic violations. This applies to all vehicle types and aims to address cases involving offences like reckless driving and negligence, which endanger public safety and property. Although the updated fees have not been disclosed, the decision aims to streamline the...
The name Enron is back in the spotlight, not for a corporate scandal, but for a parody campaign involving a fictional product called the “Enron Egg.” Introduced on January 7, 2025, the so-called “world’s first micro-nuclear reactor for home use” quickly went viral, with the term “Enron Egg” trending on Google. The campaign, titled “Nuclear...
Abu Dhabi Sustainability Week (ADSW) 2025 will take place from January 12 to 18 under the patronage of President His Highness Sheikh Mohamed bin Zayed Al Nahyan. This global event aims to unite leaders from different sectors to accelerate sustainable development and drive economic growth. With the theme “The Nexus of Next. Supercharging Sustainable Progress,”...
The Sharjah Consultative Council will hold its seventh session this Thursday to discuss a draft law on corporate tax for natural resources in the emirate. The meeting will take place at the Council’s headquarters under the leadership of its Chairman, Dr. Abdullah Belhaif Al Nuaimi. The session will begin with the approval of the minutes...
The second Khorfakkan Marine Festival concluded on January 5, 2025, after ten vibrant days of activities held from December 27, 2024, to January 5, 2025. Organised by the Sharjah International Marine Sports Club (SIMSC), the event attracted more than 70,000 visitors, offering a unique blend of maritime heritage, culture, and entertainment, according to WAM. Khalid...
Dubai is gearing up to host the 17th edition of Arab Plast, the largest trade exhibition for the plastics, petrochemicals, recycling, packaging, and rubber industries in the Middle East and North Africa. Starting tomorrow, January 7, at the Dubai International Convention and Exhibition Centre, the event will run until January 9, welcoming over 750 exhibitors...