business

UAE’s AD Ports awards $114.34 million crane contracts to ZPMC for terminal projects in Africa

Terminals will get three Super Post-Panamax STS cranes, servicing 21 container rows over 60 meters

Abu Dhabi’s NMDC Energy starts trading on ADX following 31.3 times IPO oversubscription

The offering comprised 1.15 billion shares of the company, 23 percent of total capital, priced at AED 2.8 each

AI to contribute $100 billion to UAE’s GDP by 2030

The UAE is solidifying its status as a leading player in the global AI landscape, says Astra Tech founder

Abu Dhabi’s Hub71 welcomes 21 startups with $134.9 million in funding

Seven startups will join Hub71+ ClimateTech, gaining tailored resources for their sustainability missions

Oil prices surge amid hurricane Francine concerns, yet demand worries temper gains

Brent crude futures for November rose by 40 cents, or 0.6 percent, reaching $71.01 per barrel

Egypt’s annual inflation rate stands at 25.6 percent in August 2024, says CAPMAS

The general CPI rose to 231.1 points in August 2024, reflecting a monthly inflation rate of 1.9 percent  

Saudi Industrial Production Index rises 1.6 percent in July 2024

The manufacturing sub-index rose by 4.6 percent year-on-year

Saudi Aramco signs MoUs to collaborate on advanced AI, supercomputing solutions 

Aramco has also launched initiatives to enhance advanced digital solutions in its operations 

Qatar, Armenia formalize agreement to strengthen labor sector cooperation

This agreement aims to attract skilled workers, boost their local presence 

OPEC highlights UAE’s robust non-oil sector driven by consumer and business recovery

The report indicates that Dubai attracted 10.62 million international visitors from January to July 

UAE’s DMCC launches AI Centre to propel global AI solutions

The AI Centre will be part of a newly integrated hub that also includes the DMCC Crypto Centre and DMCC Gaming Centre