business

UAE’s ADNOC L&S invests $1.9 billion in supersize ethane carriers and ammonia vessels

The VLECs will be deployed on 20-year time charter contracts, generating an estimated $4 billion in revenue

Microsoft reports CrowdStrike software update affected 8.5 million Windows devices

The broad economic and societal impacts reflect the use of CrowdStrike by enterprises running critical services, Microsoft said

DEWA installs over a million smart water meters in Dubai

This is further aimed at enhancing operational efficiency, managing facilities and services through smart and integrated systems

Air Arabia to connect Sharjah and Maldives with daily non-stop flights

The new route offers travelers more convenient and affordable ways to explore a popular South Asian destination

Kuwait’s inflation slows to 2.8 percent in June, lowest since 2020, as food and rent costs cool

Price rises in the food & beverages sub-component eased to a still-elevated 5.6 percent down from 6.1 percent in May

Egypt’s external debt dips 8.4 percent to $153.86 billion in five months

Foreign currency inflows into the local market have jumped by about 200 percent

Surge in demand for industrial and logistics assets reaches 185 percent in Dubai, Abu Dhabi: Report

The Jebel Ali Industrial Area Second Category saw rents jump 38.5 percent to AED36 ($9.80) per sq ft.

Dubai launches landmark $28.58 million mental health framework

The new framework features 10 key initiatives that will be launched over the next five years

New luxury resort slated to debut in Saudi giga-project NEOM

The resort will include a long, bridge-like structure that spans 450 meters and is suspended 40 meters above a lagoon

Oil prices fall to 1.5-month low amid weak outlook and surplus concerns

Brent oil futures expiring in September fell 0.2 percent to $82.26 a barrel

$7.2 billion revenue at Egypt’s Suez Canal marks $2.2 billion decline amid Red Sea attacks

The canal's total tonnage fell by a third, and the number of transits declined by about 22 percent YoY

UAE and Seychelles partner to promote local currency usage, interlink payment and messaging systems

This includes developing the exchange market, facilitating bilateral trade and direct investment, and remittance settlement