News

ABU DHABI / WAM Investopia 2024 saw the signing of a strategic partnership between Gewan AI and Eros Investments to enhance cooperation and share experiences in AI, innovation and advanced technology solutions and applications. Attended by Abdulla bin Touq Al-Marri, Minister of Economy, Chairman of Investopia, Ali Hussein, CEO of Immerso AI, a subsidiary of Eros Investment, and Dr Ghada ...

LONDON / WAM Price rises in the UK eased by more than anticipated in February, official figures showed on Wednesday, raising expectations that the Bank of England may start cutting interest rates in the next few months. The Office for National Statistics said inflation, as measured by the consumer price index, fell to 3.4 percent, its lowest level since September ...

ABU DHABI / WAM/ BLOOMBERG Stocks in Asia were mixed after US equities touched fresh peaks ahead of the Federal Reserve’s decision, with eyes on the future pace of rate cuts. The yen extended its decline. Chinese equities gained as the country’s banks kept their benchmark lending rates unchanged. Focus is on a slew of key earnings including from Tencent ...

BERLIN / WAM A new report released by the International Renewable Energy Agency (IRENA) confirms that achieving the global target set at COP28 to triple renewable power capacity by 2030 relies heavily on establishing conducive conditions for such growth. Tripling renewable power capacity by 2030 is technically feasible and economically viable, but its delivery requires determination, policy support and investment ...

ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) is collaborating with Eureeca, a global investment platform matching individual and institutional investors with growth and pre-IPO companies, to bolster accessibility to ADX IPOs in a fully compliant manner, appealing to growing interest from regional and global retail investors and high net-worth individuals (HNWIs). The collaboration between ADX and Eureeca capitalises ...

SHARJAH / WAM HH Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Chairman of Sharjah Media Council, attended, the sports session of the first session of the 13th Ramadan Majlis, organised by Sharjah Press Club (SPC) of the Sharjah Government Media Bureau, at Al Majaz Amphitheatre. Luka Modrić, Real Madrid midfielder and captain of the ...

ABU DHABI / WAM The United Arab Emirates has solidified its position as a leading regional and global player in foreign direct investment, according to Jamal Bin Saif Al Jarwan, Secretary-General of the UAE International Investors Council (UAEIIC). He estimates the total value of Emirati investments abroad, encompassing both government and private sectors, to have reached a staggering $2.5 trillion ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan held a phone call on Tuesday with His Excellency Dr Frank-Walter Steinmeier, President of the Federal Republic of Germany. They explored cooperation between the UAE and Germany and discussed how to further strengthen ties across various sectors, particularly in the economic and trade areas, to advance their ...

ABU DHABI/WAM The assets of Islamic banks operating in the UAE exceeded AED700 billion for the first time in history at the end of 2023, according to the latest statistics from the Central Bank of the UAE (CBUAE). The statistics showed that the assets of Islamic banks reached AED703.1 billion at the end of last December, an annual increase of ...

ABU DHABI/ WAM Abu Dhabi Future Energy Company (Masdar), the UAE’s clean energy powerhouse, today announced that it has signed a definitive agreement to acquire a 50 percent stake in Terra-Gen Power Holdings II, LLC (Terra-Gen), one of the largest independent renewable energy power producers in the United States, from Energy Capital Partners (ECP). ECP, a leading investor across energy ...