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US, UK, CANADA BACK DECLARATION
World leaders for tripling nuke capacity to net zero by 2050
In an unprecedented gathering in the midst of COP28, leaders from around the world joined in committing to tripling global nuclear capacity by 2050 as part of the transition to net zero. It has been endorsed by the heads of state of nine countries.
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MULTI-FACETED FACILITY
AD Ports, KazMunayGas to set up shipbuilding, repair facility
AD Ports Group and KazMunayGas (KMG) have signed a Heads of Terms (HoT) to establish a leading-edge ship building and repair facility in the Mangistau region of Kazakhstan.
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THREE-TRACK APPROACH
Bahrain King announces climate National Action Plan
His Majesty King Hamad bin Isa Al Khalifa of Bahrain announced the kingdom's National Action Plan, “Blueprint Bahrain”, to achieve carbon neutrality at the World Climate Action Summit in Dubai.
Top Trade News
 | Industry Sectors |
Majid Al Futtaim launches new waterfront neighbourhood in Dubai
Majid Al Futtaim, a leading mall developer and leisure pioneer in the region, has announced the launch of Plagette 32, a waterfront neighbourhood featuring 28 townhome-style club villas and four water bungalows within Tilal Al Ghaf community in Dubai.
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Spinneys becomes first UAE retailer to transition to rPET
Spinneys, one of the UAE’s leading fresh food retailers, has announced a partnership with packaging manufacturer Al Bayader International, to introduce recycled plastic packaging (rPET) across its stores.
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Bapco Energies completes amend and extend of $2.2bn facility
Bapco Energies has announced the closing of its $2.2 billion dual-tranche sustainability-linked term facility. The transaction incorporates an additional $300 million green shoe option – bringing the total facility size to $2.5 billion, the company said.
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Islamic banking to hit $4trn boosted by fintechs
Islamic banking is undergoing a historic transformation propelled by groundbreaking fintech advancements and poised to leap to an astounding $4 trillion in assets by 2026, primarily driven by the GCC nations.
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Hard work, privilege or luck: study reveals what matters to get ahead
A new study on various aspects of ‘inequality’ revealed most respondents called for more collective actions to address this phenomenon, and to ensure equal opportunity, while seeking active participation of the private sector.
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Ducab to champion responsible industry practices at COP28
Ducab, one of the UAE’s largest end to end energy solution providers, will showcase at COP28 UAE how sustainability journey is benefiting its business, its customers, its people and the planet.
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Middle East meetings sector 'a force for good'
The Middle East region's meetings and events industry is a force for good and will continue to be a driver of the region’s progress, says the IBTM World Trends Report 2023. The sector is expected to grow to $76 billion by 2028.
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Saudi Arabia leads adoption of AI in financial services: Finastra
Despite economic constraints, financial institutions in Saudi Arabia and UAE are among the global leaders in investment in artificial intelligence (AI), Banking as a Service (BaaS) and embedded finance.
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Omniyat starts work on Vela, Dorchester Collection, Dubai
Leading UAE developer Omniyat has broken ground on its premium project, Vela, Dorchester Collection, Dubai, featuring 38 waterfront residences. Conceptualised by Foster + Partners, Vela will rise to 150 m, with over 270,000 sq ft spread across 30 floors.
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Lumi and MachinesTalk sign $7.5m technology deal
To revolutionise vehicle sharing and enable digital transformation, Lumi car rental company, has signed a five-year SR28 million ($7.5 million) agreement with MachinesTalk, a leading IoT solutions provider in Saudi Arabia.
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Reaching the Last Mile to convene global health leaders at COP28
Reaching the Last Mile will convene the world’s most influential health leaders at COP28 to announce new commitments and partnerships in support of climate-health action.
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Abu Dhabi Festival 2024 unveils spectacular programmes
Abu Dhabi Music & Arts Foundation has unveiled the programme for the Abu Dhabi Festival 2024, which will be held under the theme: “The Will for Hope” in celebration of artistic excellence and diversity. It will feature classical ballet, jazz, opera etc.
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Invest Qatar in tie-up to support talent development
The Investment Promotion Agency Qatar (Invest Qatar) has partnered with the Ministry of Labour to nurture talents and develop a high-skilled workforce through joint initiatives between the public and private sectors.
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Scotland targets UAE’s $637 m annual spend on seafood
Seafood Scotland, the national trade and marketing body for the Scottish Seafood industry, has hosted a business lunch at Jumeirah Al Qasr to showcase the expanse of the sector offering and the pivotal role Scotland plays within the seafood industry.
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