Category Archives: Business & Investments

Business & Investments

BRICS Chamber of Commerce and Industry (BRICS CCI) launches UAE Chapter

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BRICS Chamber of Commerce and Industry (BRICS CCI) launches UAE Chapter

Dubai, UAE – February26, 2024 –The BRICS Chamber of Commerce and Industry (BRICS CCI), a not-for-profit organization, recognized by the United Nations that promotes commerce and industry in the BRICS and other friendly nations has officially launched its UAE Chapter office. UAE, Saudi Arabia, Egypt, Iran and Ethiopia joined BRICS on January 1, 2024, doubling its membership to 10, with Brazil, Russia, India, China and South Africa the original members.

The launch of the UAE chapter office holds significant importance as the United Arab Emirates aligns itself with the BRICS alliance, consisting of Brazil, Russia, India, China, and South Africa. This marks a pivotal moment in the region’s economic trajectory, paving the way for unparalleled collaboration and growth opportunities across various sectors.

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Business & Investments

Bashneft replaced its oil and gas reserves by 135% in 2023

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Bashneft replaced its oil and gas reserves by 135% in 2023
  • Over the past 5 years, Bashneft has discovered 7 oil fields and 298 new oil deposits found at the fields that are under development.
  • Bashneft’s geologists discovered 32 new accumulations of oil at its fields that are currently under development.

Dubai, February 26, 2024: 2023 saw Bashneft, a subsidiary of Rosneft, add 24.4 million tons (o.e.)of hydrocarbonsto its reserves thanks to its highly effective exploration operations, achieving a reserve replacement ratio of 135%.Bashneft has been successful in achieving full replacement of the liquid hydrocarbons it extracts each year by means of upping its reserves. In doing so, the company has been making a strong contribution to ensuring the fuel security of the Republic of Bashkortostan and Russia, while also helping extend the life cycle of Bashkortostan’s mature fields.

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Business & Investments

MUST-DO ACTIVITIES AT THE HATTA FARMING FESTIVAL ANNOUNCED

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MUST-DO ACTIVITIES AT THE HATTA FARMING FESTIVAL ANNOUNCED

Discover nature-themed workshops, environmental sessions for kids, and delicious food from local vendors

Dubai, United Arab Emirates, 24 February 2024: An exciting lineup of events and activities is on offer at the first ever Hatta Farming Festival, happening until Tuesday 27 February at Hatta Hall. Initiated by the Supreme Committee to Oversee the Development of Hatta, and hosted by Dubai Festivals and Retail Establishment (DFRE) in cooperation with the Dubai Municipality, the Dubai Roads and Transport Authority (RTA), and the Hatta Traders Council, the festival offers something for visitors of all ages. Whether they are seasoned farmers or those curious about where their food comes from, everyone is welcome to join in the farming fun.

From interactive agricultural experiences to local culinary flavours, here are seven reasons not to miss this landmark celebration of rural life.

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Business & Investments

ADQ-led consortium to invest USD 35 billion in Egypt

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ADQ-led consortium to invest USD 35 billion in Egypt

  • ADQ to acquire Ras El-Hekma development rights for USD 24 billion
  • Egyptian government to retain a 35 percent stake in Ras El-Hekma development
  • ADQ to invest USD 11 billion in real estate and other prime projects in Egypt in addition to the development rights for Ras El-Hekma
  • Ras El-Hekma development is expected to attract over USD 150 billion in investments
  • Work is expected to commence in early 2025

Abu Dhabi, UAE – 23 February 2024:   ADQ, an Abu Dhabi-based investment and holding company, has unveiled plans to invest USD 35 billion in Egypt. ADQ will acquire the development rights for Ras El-Hekma for USD 24 billion to develop the region into one of the largest new city developments by a private consortium. As part of this investment, ADQ will also convert USD 11 billion of deposits that will be utilized for investment in prime projects across Egypt to support its economic growth and development.

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Business & Investments

Ma Hawa highlights sustainable hydration solutions at Gulfood 2024

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Ma Hawa highlights sustainable hydration solutions at Gulfood 2024

Abu Dhabi, United Arab Emirates; 23 February 2024

Ma Hawa, an Emirati brand owned by Baynunah Watergeneration Technologies SP LLC, is participated in Gulfood 2024, showcasing its pioneering water-from-air technology at the world’s largest food and beverage trade exhibition. Ma Hawa showcased its groundbreaking solutions, offering visitors a window into the future of hydration.

Ma Hawa’s revolutionary technology extracts pure drinking water directly from the air, providing an endless, eco-friendly, and resilient source of hydration. Visitors to the event witnessed live demonstrations as humidity transforms into refreshing water of the highest quality while understanding food and water security and innovation in this sector.

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