All posts by uaenews247

Business & Investments

Saudi Tadawul Group acquires a strategic stake in Dubai Mercantile Exchange creating Gulf Mercantile Exchange

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Saudi Tadawul Group acquires a strategic stake in Dubai Mercantile Exchange creating Gulf Mercantile Exchange

  • Saudi Tadawul Group will acquire a 32.6% stake in DME Holdings Limited, the parent company of Dubai Mercantile Exchange (DME), through the acquisition of a mix of new and existing shares, becoming the joint largest shareholder alongside CME Group.
  • DME will be rebranded as the Gulf Mercantile Exchange to reflect its position as the key regional commodities exchange in the Middle East with global relevance.
  • Through DME’s flagship DME OQD Contract – the crude oil futures contract that generates the world’s largest amount of physically delivered crude oil – physical delivery volumes reached 210 million barrels of oil in 2023, up from 181 million in 2022.
  • The investment by Saudi Tadawul Group brings together world-class strategic partners and expertise to accelerate DME’s growth potential, including CME Group, the Oman Investment Authority, and Dubai Holding alongside global financial and commercial shareholders.
  • The partnership will unlock further opportunities in the energy, metals, and agricultural commodity markets and support the ongoing transition to a sustainable economy through the launch of next-generation derivative contracts.
Continue reading Saudi Tadawul Group acquires a strategic stake in Dubai Mercantile Exchange creating Gulf Mercantile Exchange →
Education

BITS Pilani Dubai Campus Organizes Successful Week-long Young Entrepreneurs Bootcamp Program

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BITS Pilani Dubai Campus Organizes Successful Week-long Young Entrepreneurs Bootcamp Program

  • Propels Aspiring Minds into the World of Innovation and Entrepreneurship
  • Nine teams comprising 50 students from India, Indonesia, and the UAE presented their business ideas to a distinguished panel of judges
  • Team Netra AI secured the first place for their AI-based device for the visually impaired.

Dubai, UAE– The Young Entrepreneurs Bootcamp (YEB), organized by BITS Pilani Dubai Campus (BPDC), has concluded, marking a significant milestone for aspiring entrepreneurs. The transformative week-long residential program unfolded over five days, providing students in Grades 9 to 12 with an immersive experience in technology-driven innovation and the intricate nuances of the entrepreneurial ecosystem.

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Health Care

The UAE laboratory equipment market is expected to reach US$1.5 billion by 2027

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The UAE laboratory equipment market is expected to reach US$1.5 billion by 2027, as Medlab Middle East prepares to host its 23rd edition

  • A recent report from Grand View Research outlines the remarkable growth potential for the laboratory equipment market in the UAE, estimating it to reach US$1.5 billion by 2027
  • The MENA region’s laboratory sector will convene at Medlab Middle East, which takes place from 5-8 February
  • More than 30,000 attendees from over 180 countries will gain insights into the latest laboratory industry developments

Dubai, United Arab Emirates, 18 January 2024: The laboratory equipment market in the UAE is thriving, according to a recent report by Grand View Research, which suggests the sector will reach US$1.5 billion by 2027. The report estimates that the market will increase at a CAGR of over 7% over the next three years, fuelled by factors such as a rising population, the growing prevalence of chronic diseases and continued investments in the healthcare sector.

Continue reading The UAE laboratory equipment market is expected to reach US$1.5 billion by 2027 →
Food & Dining

Savor the Flavors of India and Pakistan at Wagah Border Drunch

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Savor the Flavors of India and Pakistan at Wagah Border Drunch – Every Saturday at Four Points by Sheraton Production City, Dubai

Dubai,18 January 2024– Embark on a culinary journey at Wagah Border Drunch, a weekly delight hosted at Four Points by Sheraton Production City, Dubai. Every Saturday, from 7:00 PM to 11:00 PM, indulge in an exquisite Indian Pakistani buffet paired with lively live music. Priced at AED 99 per person, inclusive of soft beverages, this gastronomic experience offers a diverse array of authentic dishes.

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Food & Dining

Qaser Al Kout brings flavours of Kuwait to Sharjah

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Qaser Al Kout brings flavours of Kuwait to Sharjah

Serving pure and authentic Kuwaiti cuisines in Sharjah, Qaser Al Kout is all set to spread flavours on Jan.21
SHARJAH: 18-01-2024:
Today, a press conference was held to launch the Qaser Al Kout restaurant in Sharjah, in the presence of:Directors
Abdul Salam Fossil,Mohamed Aslam,Ramees Vazhayil.

Come Jan.21, food lovers from across the UAE will throng the most thriving food districts of Sharjah, Muwaileh, to get a taste of authentic Kuwaiti’s cuisines. Bringing a wealth of experience and purity with them, Qaser Al Kout’s spacious dining restaurant is one of its kinds in the region, is sure to satiate people’s appetite for authentic Kuwaiti cuisines.
Those who long for traditional Kuwaiti cuisines in the UAE can now visit Qaser Al Kout with their family and friends and indulge themselves for mouth-watering recipes prepared by special chefs and peppered with incredible hospitality.

Continue reading Qaser Al Kout brings flavours of Kuwait to Sharjah →