Finance & Business

Aug 16th Dubai-based startup NWTN has announced an investment of $500 million in the electric car unit of the Chinese Evergrande Real Estate Development Group, Evergrande New Energy Vehicle, in return for obtaining shares and a majority in the board of directors of the Chinese company. . In turn, Evergrande …

Aug 15th Efforts are accelerating to double the size of the manufacturing sector in Abu Dhabi to 172 billion dirhams and to contribute to increasing non-oil exports to 178.8 billion dirhams by 2031. The increase in the total operating factories to 966 confirms the ease of doing business in Abu …

Dubai on August 15th Ajman Bank announced the listing of the new capital increase shares on the Dubai Financial Market and the start of trading in them tomorrow. The bank said, in a disclosure today on the Dubai Financial Market website, that this comes after completing the process of allocating …

Abu Dhabi on August 14th The local stock markets attracted liquidity that exceeded 1.8 billion dirhams at the close of trading today, with its main focus on real estate, banking and financial stocks. The liquidity was distributed by 1.52 billion dirhams in the Abu Dhabi Stock Exchange and 301.2 million …

August 14th Apple is seeking to enter the electric car market with its new car, the iCar, to compete with Tesla, and by taking advantage of the great progress in manufacturing this type of car. According to one report, the team behind the company’s first car has nearly 1,000 employees. …

August 13th The market for home air conditioners in the UAE records an annual growth of between 4 and 6%, and companies confirmed that the market for home air conditioners continues to grow, driven by urban development, and the state’s tendencies to enhance energy efficiency, relying on sustainable devices, in …

Incoming flights to UAE airports until the end of August 2023 are witnessing strong levels of occupancy, coinciding with the return of residents and citizens from summer vacations, in addition to tourist demand from some international markets in Europe, Asia and North America. Airlines record a high load factor on …

Oil prices rose, on Friday, after the International Energy Agency expected record global demand and shrinking supplies, which pushed oil to gain for the seventh week in a row, in the longest winning streak since 2022. Brent crude futures rose 41 cents, or 0.5%, to settle at $86.81 a barrel, …

​​​​​Air Arabia announced record financial and operating results during the second quarter and the first half, as the company continued its strong performance in achieving a successful growth strategy. Al Arabiya recorded a profit of 459 million dirhams during the second quarter, an increase of 187% compared to 160 million …

Geneva on August 12th The International Air Transport Association (IATA) confirmed the continued recovery of the air travel sector last June, with travel traffic increasing by 31% compared to June 2022. The union said in a recent report today that all markets showed strong growth, and that the proportion of …