PureHealth has made a significant contribution of AED 50 million to the Life Endowment campaign, which was initiated by the Endowments and Minors Funds Authority, also known as Awqaf Abu Dhabi. This campaign aims to support various health initiatives and enhance community welfare. Credit: Abu Dhabi Media Office The donation from PureHealth is part of...
Russia is currently in advanced discussions with Bahrain regarding a three-year liquefied natural gas (LNG) agreement. Under this proposed deal, Moscow would supply the Gulf kingdom with 1.5 million metric tons of LNG. This information comes from three sources familiar with the ongoing negotiations. If finalized, this agreement would mark the first LNG deal between...
LOT has expanded its presence in the UAE with the opening of its newest and largest branch at LuLu Hypermarket on Al Wahda Street in Sharjah. This strategic move highlights LOT’s commitment to making high-quality products affordable and accessible to a broader customer base. Yusuffali MA, chairman of LuLu Group, inaugurated the new LOT store,...
ADNOC has announced that its In-Country Value (ICV) Programme has successfully generated 17 000 job opportunities for Emirati talent in collaboration with its strategic partners in the private sector. This achievement highlights the significant impact and positive results of the programme since its inception in 2018. During the fourth edition of Make it in the...
Modon Holding, a listed company based in Abu Dhabi, successfully sold out its freehold residential project on Reem Island, generating approximately Dh1 billion, or $272.3 million, on the day of the launch. This two-tower waterfront development is strategically located near the Abu Dhabi Global Market (ADGM), enhancing its appeal to potential buyers. The swift sale...
The Sultanate of Oman is poised to deliver 62 800 new residential real estate units by the year 2030, with 5 500 of these units scheduled to enter the market this year. This information comes from a recent report by Cavendish Maxwell, which aligns with the country’s strategic vision for housing development. In addition to...
Dubai Electricity and Water Authority (DEWA) has made a significant advancement by adopting Google’s advanced NotebookLM technology to convert its press releases into podcasts. This initiative highlights DEWA’s commitment to leading in artificial intelligence (AI) adoption, as it becomes the first government entity in the world to implement this AI-powered model for such a purpose....
The fourth edition of ‘Make it in the Emirates’ has successfully concluded in Abu Dhabi, revealing new industrial projects valued at over AED 11 billion. The event took place over a period of four days and marked a significant milestone in promoting local industry. Credit: Economy Middle East During the event, more than 187 agreements...
Cisco (NASDAQ: CSCO), a global leader in networking and security, has announced its participation in the Stargate UAE initiative as a preferred technology partner. The company signed a Memorandum of Understanding (MoU) with G42, OpenAI, Oracle, NVIDIA, and SoftBank Group, aiming to develop an AI data center in Abu Dhabi. This center is projected to...
The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) has announced a reduction in key interest rates by 100 basis points (bp). This decision was communicated through a press release issued on May 22nd. As a result of this cut, the overnight deposit rate now stands at 24%, while the overnight lending rate has...