Leveraging geothermal heat for district cooling operations has the potential to reduce electricity demand helping decarbonise an energy-intensive sector ADNOC and the National Central Cooling Company (Tabreed) announced a breakthrough in their efforts to harness geothermal energy, in a...

The total capacity of the solar energy projects commissioned at the Mohammed bin Rashid Al Maktoum Solar Park has reached 2,427MW Dubai Electricity and Water Authority (DEWA) has selected Abu Dhabi Future Energy Company (Masdar) to build and operate the 1,800 megawatt (MW) sixth phase...

The change, which follows directives from the Abu Dhabi Executive Council, is set to take effect from September 1 The Department of Culture and Tourism – Abu Dhabi (DCT – Abu Dhabi) has reduced government fees applied to hotels in the emirate to boost the growth of the hospitality and...

For the first six months of 2023, the utility giant reported a net profit of Dhs2.7bn Dubai Electricity and Water Authority (DEWA) has reported its consolidated financial results for H1 2023. DEWA‘s second quarter of 2023 revenue was Dhs7.3bn, while net profit was Dhs1.98bn....

The MoU strengthens VARA’s aim to achieve full transparency and market conduct adherence across virtual asset service providers licenced to operate in Dubai Dubai’s Department of Economy and Tourism (DET) and Virtual Assets Regulatory Authority (VARA) have signed a memorandum of...

SMEs must recognise that AI is not a futuristic concept, but a practical tool that can strategically augment and automate their processes In recent years, the UAE has witnessed remarkable growth in its SME sector. SMEs now account for approximately 94 per cent of the companies...

The budget carrier flew more than 3.8 million passengers between April and June Sharjah-based Air Arabia has reported a 187 per cent increase in second-quarter net profit to Dhs459m from Dhs160m during the corresponding period a year earlier. The second quarter net profit also included...

The plan will develop financial policies to promote economic growth, create a competitive business environment and strengthen international economic relations Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, has...

The rights issue was oversubscribed 7.4 times, with a total demand of Dhs4.1bn Ajman Bank’s Dhs550m rights issue has been received very well, attracting many international investment banks and local investors. The rights issue was oversubscribed 7.4 times, with a total demand of...

This bond is the first part of a programme to raise up to $3bn to meet Masdar’s equity funding commitments on new renewable energy projects Abu Dhabi Future Energy Company – Masdar marked the successful completion of its first green bond issuance for $750m 10-year senior unsecured...