Deepthi Nair

1 week ago | thenationalnews.com | Deepthi Nair

Adnoc Drilling, the Middle East's largest drilling company, has appointed Abdulla Al Messabi as its new chief executive. Abdulrahman Al Seiari, the company’s current chief executive, will retire at the end of the year following more than 45 years at Adnoc and Adnoc Drilling. He will remain in an advisory capacity until the end of the year to support a “smooth and seamless” leadership transition, the company said in a statement on Monday.

1 week ago | thenationalnews.com | Deepthi Nair

The UAE’s economy grew by 4 per cent last year, driven by a strong expansion in its non-oil sector as the country continues to diversify its economy. The country's real gross domestic product reached Dh1.776 trillion ($484.7 billion), the UAE’s Ministry of Economy said in a statement on Sunday, citing data from the Federal Competitiveness and Statistics Centre.

1 week ago | thenationalnews.com | Deepthi Nair

An escalation of attacks on Iran's energy infrastructure could result in a further rise in oil prices, potential supply disruptions and hit countries reliant on Iranian oil, such as China, analysts said. In the first apparent attack to hit energy infrastructure, Iran partially suspended production at South Pars, the world's biggest gasfield, after an Israeli strike caused a fire there on Saturday, the country's semi-official Tasnim news agency said.

2 weeks ago | thenationalnews.com | Deepthi Nair |Fareed Rahman

Dubai's second tokenised real estate project sold out in a record-breaking time of less than two minutes, the emirate’s Land Department said, illustrating the high demand amid a housing boom. The property is a one-bedroom apartment in Kensington Waters, Mohammed Bin Rashid City, valued at Dh1.5 million ($408,441), offered at a discounted rate compared to its estimated market value of Dh1.8 million, project promoters Prypco said in a statement. It attracted 149 investors.

2 weeks ago | thenationalnews.com | Deepthi Nair

The World Bank has upgraded its growth forecast for the UAE to 4.6 per cent this year, up from its 4 per cent projection in January, on expanding non-oil activity and phase-out of the Opec+ oil production cuts. The Washington-based multilateral lender projects the UAE economy to grow at 4.9 per cent in 2026 and 2027, respectively, it said in its latest Global Economic Prospects report. The Emirates’ economy is estimated to have expanded by 3.9 per cent last year, the lender said on Tuesday.