UAE billionaire Mohamed Alabbar has reportedly signed an agreement with the government of Hungary to build a “Dubai-like neighbourhood” in Budapest in a deal worth up to $7 billion. Alabbar’s Eagle Hills Properties will be working with the Hungarian government to construct “tallest tower in Europe and a shopping mall” and develop a partially abandoned…
London: Shell weakened its 2030 emissions target Thursday in an annual update on its energy transition strategy. Shell said it will target a 15-20% reduction in net carbon intensity of its energy products by 2030 compared with 2016 levels. It had previously aimed for a 20% cut. Shell has been under pressure to slash its emissions…
An Indian businessman and philanthropist contributed Dh10 million to the Dh1-billion fund that Dubai is aiming to raise to honour mothers this Ramadan. Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, launched the Mother’s Endowment campaign, which allows individuals to make donations in their mothers’ names. The…
Top real estate developers Nakheel and Meydan will now fall under the umbrella of Dubai Holding, Sheikh Mohammed bin Rashid Al Maktoum announced on Saturday. This step, he said, comes as part of efforts to “consolidate and enhance the momentum of Dubai’s economic growth”. “The goal is to create a more financially efficient entity that…
Chennai: American semiconductor manufacturer Qualcomm has opened a design centre in Chennai. The centre was inaugurated by Union Minister for Information and Technology Ashwini Vaishnaw on Thursday, in the presence of the company’s President and CEO Cristiano R Amon. The US-headquartered multinational corporation, Qualcomm, is famed for designing and manufacturing semiconductors and wireless telecommunications products. “PM…
New Delhi: Prime Minister Narendra Modi held a conversation with his British counterpart Rishi Sunak and discussed the early conclusion of the Free Trade Agreement between India and the United Kingdom. The two leaders also affirmed their commitment to further bolster the bilateral Comprehensive Strategic Partnership between the two nations. “Had a good conversation with PM…
Islamabad : Amid the economic crisis, Pakistan Prime Minister Shehbaz Sharif vowed to get his country out of foreign debt, declaring that the country would get rid of the International Monetary Fund (IMF), Geo News reported. “We will get rid of IMF, InshaAllah,” the premier said while addressing the maiden meeting of the newly formed 16-member…
In a significant boost to digital payments in the UAE, Direct Debit System, the UAE’s first paperless direct debit marketplace, has partnered with Keyper, a leading venture capital-backed, technology-enabled property management platform, to launch the first digital rental payments platform accessible to all tenants and landlords in the UAE. The collaboration delivers a long-awaited solution…
New Delhi: As part of the vision of ‘Making AI in India’ and ‘Making AI Work for India,’ the Indian Cabinet has approved the comprehensive national-level India Artificial Intelligence mission with a budget outlay of Rs 10,371.92 crore ($1.2 billion). Briefing media after a meeting of the union cabinet, Commerce and Industry Minister Piyush Goyal…
New Delhi: The coal sector has emerged as the frontrunner in driving industrial growth, achieving a remarkable growth rate of 10.2 per cent in January 2024, according to the latest data released by the Ministry of Commerce and Industries. According to a press release by the Ministry of Coal, this growth, as per the Index of…
