News

  Bloomberg An Austrian startup that aims to streamline housing construction raised about €100 million in fresh cash from a group of investors led by Vonovia SE, Germany’s largest landlord. Gropyus AG will use part of the Series B funding to expand its factory in southwest Germany, according to Chief Executive Office Markus Fuhrmann. The Vienna-based company targets output of ...

  Bloomberg British companies signaled output dropped at the fastest pace since the start of the pandemic as the government budget deficit widened to a record, adding to evidence that the economy probably has lurched into a recession. S&P Global said its index of sentiment from purchasing managers fell more sharply than expected in January, led by a deterioration in ...

  Dubai / WAM Grant Shapps, UK’s Secretary of State for Business, Energy, and Industrial Strategy, said in an interview in Abu Dhabi that the energy events hosted by the UAE represent its approach towards sustainability. “I think it is an amazing year for the UAE as it is hosting the world’s biggest UN climate conference – COP 28. I ...

  Abu Dhabi / WAM The central bank of the United Arab Emirates (CBUAE) announced that gross banks’ assets, including bankers’ acceptances, increased by 0.7%, rising from AED 3.615 trillion at the end of October 2022 to AED3.639 trillion at the end of November 2022. According to figures published in CBUAE’s November summary report on monetary and banking developments, gross ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a cable of congratulations to Chris Hipkins on his election as Prime Minister of New Zealand. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, sent a similar message of congratulations to Hipkins.

  Abu Dhabi / WAM Bayanat, a provider of AI-powered geospatial solutions, on Monday reported its preliminary financial results for 2022, reaching AED788 million in revenue, with a net profit of AED202 million for the year. Bayanat’s FY-2022 revenue reached AED788 million compared to AED367 million for the previous year, marking a substantial increase of 115%. The company also reported ...

  Dubai / WAM DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – and the Bharat Subcontinent Agri Foundation (BSAF) signed a memorandum of understanding to advance the global agricultural (agri) commodities sector between the UAE and South Asia. The agreement was signed by Ahmed bin Sulayem, Executive Chairman and Chief ...

Sharjah / WAM Sharjah Electricity, Water and Gas Authority (Sewa) has completed the connection of electric current to 3,733 projects with a load of up to 628 MVA, after completing inspection procedures and fulfilling all security and safety requirements, and extending feeders to the low and medium voltage networks with a length of 505 km, in Sharjah, 2022. The authority ...

  Dubai / WAM Emirates has taken yet another significant step in the resumption of its Australia capacity by increasing its service to two major cities — Sydney and Melbourne. The airline will also restart services to Christchurch, New Zealand via Sydney, offering a new path for Australians across the trans-Tasman route. From March 26, Melbourne will increase from two ...

Abu Dhabi / WAM Bayanat, a provider of AI-powered geospatial solutions, on Monday reported its preliminary financial results for 2022, reaching AED788 million in revenue, with a net profit of AED202 million for the year. Bayanat’s FY-2022 revenue reached AED788 million compared to AED367 million for the previous year, marking a substantial increase of 115%. The company also reported FY-2022 ...