Shell has abandoned its search for oil in the Arctic after failing to find enough crude. Due to the lack of oil and gas found off the coast of Alaska, operations will stop for the foreseeable future. Environmental campaigners had criticized the costly project in the Chukchi Sea. The project has had numerous issues including a major setback in 2012 after a drilling rig came lose and was grounded.
ADNOC and partners to develop mega gas project
Abu Dhabi's Supreme Council for Financial and Economic Affairs (SCFEA) has awarded the concession for the development and production of the Bab Gas Cap project to ADNOC and a group of international energy partners.
Bank fined AED 20 million for repeated regulatory failures
The UAE Central Bank (CBUAE) has fined a branch of a foreign bank AED 20 million for repeated failures in its anti-money laundering and counter-terrorism financing controls.
UAE announces Retail T-Sukuk subscription details
The Ministry of Finance has announced the subscription period for the UAE’s first-ever Sovereign Retail T-Sukuk Programme, offering individual investors a new government-backed investment opportunity that complies with Islamic Shariah principles.
Dubai tops global greenfield FDI rankings fifth year in a row
Dubai has topped global rankings for attracting greenfield foreign direct investment (FDI) projects for the fifth consecutive year.
Tata Electronics hit by cyber breach claiming to expose Apple, Tesla trade secret
Tata Electronics said on Monday it had detected a recent 'cybersecurity incident', after researchers said World Leaks posted purported component design and specification papers of Apple and Tesla, both customers of the Indian group.
The UAE has expanded its visa on arrival scheme to nationals of Indonesia, the Philippines, Vietnam, Thailand, Kenya, and South Africa.
Dubai will soon have the "world's first AI designed park" as part of a host of innovative projects planned for the city, announced His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai's Crown Prince and the UAE's Deputy Prime Minister.
The Museum of the Future has launched a global call for ideas to help shape its next generation of exhibitions and immersive experiences.
