News

Dubai / WAM As the United Arab Emirates (UAE) takes significant strides towards embracing Artificial Intelligence (AI) technologies and further developing a knowledge-based economy, businesses must seize the opportunity and architect for disruption instead of becoming victims to it, a senior executive has said. AI investments in the UAE have recorded over 70 percent increase over the past three years, ...

Dubai / WAM The 19th edition of the Water, Energy, Technology and Environment Exhibition (WETEX )will take place on the beginning of the third week of October. The announcement was made by Saeed Mohammed Al Tayer, MD and CEO of DEWA, Founder and Chairman of the Water, Energy, Technology and Environment Exhibition (WETEX), at a press conference at the Address ...

Abu Dhabi / Emirates Business ADNOC Distribution, the sole operator of light vehicle inspection centers in Abu Dhabi, is upgrading the information technology systems at its 21 centers across the emirate. The one-day upgrading operation will take place on October 6. Consequently, service will be suspended that day at the four centers that usually operate on Fridays: namely, Abu Dhabi ...

Dubai / WAM The Smart Dubai Government Establishment (SDG), in collaboration with the Department of Finance and ENOC Group, signed an MoU to launch a new service via its flagship Dubai Now smartphone application. The new service will be available soon and will allow customers to pay for petrol using Dubai Now app across ENOC’s retail network in the UAE, ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI), held a meeting with the Mexican Ambassador and discussed ways of developing economic and investment relations between the UAE and Mexico, in particular with the Emirate of Sharjah, as well as discussing how to benefit from the agreements signed between both sides. Abdallah Sultan Al Owais ,Chairman of Sharjah ...

Dubai / Emirates Business Following the commencement of their partnership, Emirates and flydubai on Monday announced that Emirates will expand its network to 29 flydubai destinations across three continents. The new partner network, through its codeshare, will offer greater frequency and easier access to more global destinations with the advantage of connecting baggage to the final destination. Passengers can book ...

KHOBAR / Reuters Saudi Arabia and Russia plan to set up a $1 billion fund to invest in energy projects, Russian Energy Minister Alexander Novak said in a interview broadcast by Al Arabiya TV on Monday. The fund, to be finalised during this week’s visit by Saudi King Salman to Moscow, was part of efforts by two of the world’s ...

Bloomberg Kuwaiti officials are considering an annual public spending cap of 21 billion dinars ($69.5 billion) on average over the next three fiscal years to help the government plan future debt sales, a senior official said. The cap is being included in a proposed budget for the fiscal year starting in April, the official said, asking not to be named ...

Bloomberg China’s independent refiners burst onto the international oil market scene only a couple of years ago and lifted the nation past the US as the world’s No. 1 crude buyer. Now, a new generation of firms building some of the globe’s biggest plants are threatening to eclipse them. The original set of private processors, known as teapots, is clustered ...

BENGHAZI / Reuters Libya’s giant Sharara oil field has been closed since late on Sunday, shutting off the production of more than 230,000 barrels per day (bpd), an engineer at the field and a Libyan oil source said. Libya’s National Oil Corporation (NOC) said in a statement on Monday that it was “working towards a swift restart of production. At ...