Tumbling oil prices could see record budget losses for the UAE and Saudi Arabia this year. Prices have hit lower than $40 a barrel, which has put pressure on GCC governments. However, Marios Maratheftis, Global Chief Economist at Standard Chartered expects prices to come up in 2016 due to a limit in oil supplies.
ADNOC completes $2.84 bn marketed offering of ADNOC Gas shares
Abu Dhabi National Oil Company (ADNOC) announced on Friday the final offer price and successful completion of the marketed offering to institutional investors of 3.1 billion ordinary shares in ADNOC Gas plc.
Etihad Airways hits record profit of AED 1.7 billion in 2024
Etihad Airways tripled its net profit to AED 1.7 billion ($476 million) last year, driven by AED 25 billion ($6.8 billion) in combined passenger and cargo revenue, the UAE carrier said on Wednesday.
UAE hotels record AED 37.1 billion in revenue last year
Hotels in the UAE generated approximately AED 37.1 billion in revenue from January to October 2024, marking a four per cent increase compared to the same period in 2023.
Apple launches low-cost iPhone 16e
Apple launched its latest low-cost model, dubbed the iPhone 16e, on Wednesday as it looks to grab a bigger share of the mid-range smartphone market and fend off competition from rivals such Samsung and China's Huawei.
Dubizzle acquires Egypt's automotive portal Hatla2ee
UAE-based classifieds company Dubizzle Group has announced the acquisition of Hatla2ee, a leading Egyptian automotive portal.
The UAE has sent 300 tonnes of aid for infants and newborn babies to Gaza under "Operation Chivalrous Knight 3," it was announced on Saturday.
Dubai Police have shut down four printing presses for reportedly printing "massage cards," the authority announced on Saturday.
Some bus routes around Terminal 1 at Dubai International Airport (DXB) have been temporarily adjusted from February 21 due to "road enhancements," the Roads and Transport Authority (RTA) said.
