Abu Dhabi / WAM Hub71, Abu Dhabi’s global tech ecosystem, on Monday announced the latest cohort of startups selected to join its rapidly growing startup community, with an increasing number of startups led by female founders. The successful startups, chosen from hundreds of applicants, will benefit from Hub71’s Incentive Programme, which reduces the cost of living and business set up ...

DUBAi / WAM The Dubai Gold and Commodities Exchange (DGCX) continued its strong growth trajectory during October, with its G6 currencies portfolio a standout performer during the month. The portfolio recorded an impressive year-to-date (y-t-d) volume growth of 378%, compared to same period last year. Among G6 currency pairs, Euro and British Pound Futures Contracts registered strongest performances, recording an ...

Dubai / WAM Nasdaq Dubai has welcomed the listing of a $ 600 million sukuk by the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank (IsDB). The capital raised from the sukuk will support ICD’s wide-ranging development activities within its 55 member countries which include creating competition, entrepreneurship, employment ...

Sharjah / WAM The Expo Centre Sharjah, the organiser and the host of the SteelFab exhibition, has announced the postponement of the 17th edition of the event, which was scheduled to be held in January 2021, to June of the same year. In a statement, the centre’s Board of Directors said that the decision made after assessing the current global ...

DUBAI / WAM The Global Renewables Outlook: Energy Transformation 2050 report issued by the International Renewable Energy Agency (Irena), in April this year indicated that the transition to renewables, efficiency and electrification could drive overall socio-economic development, supported by comprehensive policies to cut carbon emissions. The use of hydrogen and synthetic fuels, direct electrification, advanced biofuels and carbon management will ...

Abu Dhabi / WAM National Petroleum Construction Company (NPCC) the nation’s leading energy sector Engineering, Procurement and Construction (EPC) major with a fast-growing global footprint of operations, has been ranked as the Top EPC Contractor in the Middle East by the leading industry magazine Oil & Gas Middle East. NPCC recorded this outstanding recognition, ahead of global EPC majors, underlining ...

Dubai / WAM Leading development experts, technology visionaries and government officials from some of the world’s most populous and resilient cities are set to gather virtually for Expo 2020 Dubai’s Urban and Rural Development Week to discuss the future of smart cities and sustainable habitats. Hosted by Expo 2020 and delivered in collaboration with the United Nations Human Settlements Programme ...

Bloomberg Exxon Mobil Corp warned it may take up to $30 billion in writedowns on natural gas fields acquired more than a decade ago, and reported a third straight quarterly loss. Exxon is confronting one of its biggest crises. If the company takes the full $30 billion impairment, it will be the industry’s worst in more than a decade, according ...

Bloomberg Chevron Corp posted a surprise profit as the oil supermajor slashed capital spending to cope with the pandemic-driven collapse in crude demand. The California oil titan posted adjusted per-share earnings of 11 cents for the third quarter, outperforming the average 27-cent loss expected by analysts in a Bloomberg survey. Times are tough for the industry and Chevron is willing ...

Bloomberg Reliance Industries Ltd, India’s most valuable company led by billionaire Mukesh Ambani, reported a 15% decline in profit for the quarter through September, as the coronavirus pandemic gutted demand for transportation fuels. Net income fell to 95.7 billion rupees ($1.28 billion) from 112.6 billion rupees a year earlier, the Mumbai-based company said in an exchange filing. That compares with ...