• EDB’s contribution to UAE’s industrial GDP in 2023 rises to US$1.1bn

    ABU DHABI, UAE – Emirates Development Bank (EDB) has unveiled its 2023 results, showcasing an extraordinary year of achievements and strategic milestones. EDB revealed a significant 80 percent surge in its contribution to the UAE’s industrial GDP, which has grown from US$653 million (AED2.4 billion) in 2022 to US$1.1 billion...
  • In Middle East, ‘manufacturing’ is a new buzzword

    From Saudi Arabia to the UAE and Qatar to Kuwait, governments across the region compete to jumpstart industrial sector but doubts remain whether it can be pulled off.
  • MODON attracts US$34m investment to develop military industry in Saudi Arabia

    RIYADH, SAUDI ARABIA - The Saudi Authority for Industrial Cities and Technology Zones (MODON) has attracted new investments worth US$34 million (SAR130 million). This will be used to localize military aircraft industries, including drones and provide repair, maintenance and overhaul services for ships. Securing funding is one of the authority's...
  • Economic forum in Amman to enhance trade ties between Iraq, Jordan

    AMMAN, JORDAN - The Iraqi Business Council, in collaboration with the Jordanian and Amman Chambers of Industry, is set to organize an economic forum in the Kingdom. This event, on April 21, aims to enhance financial, industrial and commercial partnerships among Iraq, Jordan and other countries in the region. The...
  • Sharjah Chamber posts growth in membership in 2023

    SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has announced a series of significant achievements of the year 2023, underscoring its multifaceted endeavors in bolstering the business community. In 2023, the Chamber saw a notable increase in its total registered memberships, reaching 72,187, with 7,160 new members...
  • Ras Al Khaimah witnesses rise in issue of valid business licenses in 2023

    RAS AL KHAIMAH, UAE - The economic growth of the Emirate continued to accelerate in 2023, with the Department of Economic Development reporting a 10 percent increase in the total capital of valid business licenses issued. This figure reached US$2.1 billion (AED 7.8 billion), demonstrating the emirate's strong economic momentum....
  • ADDED, Siemens Energy to support sustainable industrial development in Emirate

    ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy have joined hands to further decarbonize the Emirate’s booming industrial sector. The collaboration supports Abu Dhabi Industrial Strategy's vision to establish the Emirate as the most competitive industrial hub in...
  • Dubai faces warehouse shortage, says new report

    DUBAI, UAE â€” The supply of under construction warehouse stock in Dubai’s industrial market stands at 1.56 million square feet according to Knight Frank's latest report: Dubai & Abu Dhabi Industrial Markets Review, Q3, 2023. According to Knight Frank, demand is outstripping supply and occupiers are faced with the prospect of...
  • Saudi minister says 6,225 industrial firms from Kingdom invest US$30bn in Egypt

    RIYADH, SAUDI ARABIA - A total of 6,225 Saudi industrial businesses are operating in Egypt with US$30 billion worth of investments, Abdulrahman Altawil, the Kingdom’s Deputy Minister, Developmental Housing, Municipal and Rural Affairs and Housing said here. This reflects their confidence in the Egyptian market, he said. In a speech...
  • Siemens posts record profit

    Its shares rose over 6 percent on the Frankfurt Stock Exchange.
  • Saudi Arabian ministry issues 174 industrial licenses

    RIYADH, SAUDI ARABIA – The Kingdom’s Ministry of Industry and Mineral Resources announced issuing 174 new industrial licenses in September, at a total value of US$1.4 billion (SAR 5.3 billion).  A total of 82 factories started actual production in September, with total investments of US$506 million (SAR 1.9 billion), the...
  • Firms listed on Qatar Stock Exchange post 9M profit of $10.27bn

    Doha, Qatar -- Companies listed on the Qatar Stock Exchange have reported a net profit of QR 37.42 billion ($10.27 billion) for the first nine months of 2023, compared to QR 40.54 billion for the same period last year, marking a decrease of 7.69 percent. All companies listed on the...
  • Over 3,500 new members register with Ajman Chamber in H1 2023

    AJMAN, UAE- The Ajman Chamber of Commerce and Industry (ACCI) has revealed that in the first half of 2023, at least 3,567 new members joined it.   The growth pace of the industrial sector in Ajman is accelerating as a result of the leadership's interest in the field, the availability...
  • UAE industrial, business sectors see 4% rise in cumulative credit balance by H1 2023

    ABU DHABI, UAE - Credit facilities provided by national banks to the business and industrial sectors rose by US$7.7 billion (AED 28.5 billion) in the first half of 2023, according to figures revealed by the Central Bank of the United Arab Emirates (CBUAE). The apex bank’s figures showed that the...
  • Saudi Arabia and Germany discuss cooperation in industrial, mining sectors

    Riyadh, Saudi Arabia  -  Saudi Arabia and Germany have decided to strengthen cooperation in the industrial and mining sectors.   A delegation from Saudi Arabia's Ministry of Industry and Mineral Resources, led by Eng. Fares Al-Saqaabi, the Undersecretary of the Ministry for Human Capacity Development, engaged in a series of productive...
  • UAE banks provide US$7.73bn in financing to businesses in five months

    Abu Dhabi, UAE-- The banks in the UAE increased their credit facilities for the business and industrial sectors by around $7.73 billion in the first five months of this year. According to the latest statistics from the Central Bank of the UAE, the two sectors witnessed a 4 percent rise...
  • 60 percent of Jordan’s consumption contains plastic, rubber, says JCI

    AMMAN, JORDAN - Plastic and rubber products cover 59.7 percent of the Kingdom's domestic consumption, a report by the Jordan Chamber of Industry (JCI) showed. The report indicated that plastic and rubber products are well-established industries in the Kingdom, featuring a variety of types and uses, and contribute indirectly to...
  • Germany gears up for continued recession after years of bloom

    BERLIN, GERMANY - On his many visits to semiconductor factories and electric car plants, Germany's Chancellor Olaf Scholz bangs the drum for an economy at the forefront of an industrial transformation. But the picture painted by business leaders and experts is less rosy, predicting hard times to come for Europe's largest...
  • UAE Ministry of Energy joins National ICV Program

    DUBAI, UAE - The Ministry of Energy and Infrastructure (MoEI) has joined UAE's National In-Country Value (ICV) program following a memorandum of understanding with the Ministry of Industry and Advanced Technology (MoIAT). The MoU was signed in the presence of Dr. Sultan Al Jaber,  UAE Minister of Industry and Advanced...
  • US, India agree on defense industry cooperation plan

    The United States and India agreed a roadmap for military industrial cooperation, as New Delhi seeks to reduce its reliance on key arms supplier Russia. "We established an ambitious new roadmap for defense industrial cooperation, which will fast track high priority co-development and co-production projects," US Secretary of Defense Lloyd...
  • Sharjah Chamber concludes successful 5-day trade mission to India

    SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has successfully concluded its trade mission to India after five days of fruitful meetings and discussions with Indian business and industrial associations in New Delhi and Mumbai. The trade mission, organized by the Sharjah Exports Development Center, visited New...
  • MoIAT, Shahin sign strategic partnership to enhance UAE’s green mobility

    ABU DHABI, UAE - UAE Ministry of Industry and Advanced Technology (MoIAT) has signed a Letter of Intent (LoI) with Shahin in a move towards sustainable industrial development and promoting electric mobility. The LoI, signed at the Make it in the Emirates Forum on Wednesday, underlines the country’s commitment to...
  • UAE-India Business Forum discusses investment opportunities

    SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has embarked on a landmark trade mission to India, marking a significant step in strengthening economic ties between the two nations. The trade mission's first leg commenced with the highly successful UAE-India Business Forum held in Mumbai, India's bustling...
  • Qatar’s industry PPI down by 2.56 percent in March

    The Planning and Statistics Authority (PSA) said Monday , the PPI of March 2023 for the Mining and Quarrying showed a decrease by 2.94% when compared with PPI of February 2023.
  • Jordan, UAE, Egypt, Bahrain announce joint industrial projects totaling $2bn

    Jordan, the United Arab Emirates, Egypt and Bahrain announced the signing of 12 agreements and partnerships worth over US$2 billion for nine joint industrial projects. The announcement came following a meeting of the Integrated Industrial Partnership for Sustainable Economic Development. Jordan Prime Minister Bisher Khasawneh oversaw the signing of the...
  • UAE, Algerian ministers discuss enhancing bilateral cooperation

    ABU DHABI, UAE -   UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan and Algerian Minister of Industry Ahmed Zeghdar discussed enhancing cooperation in the economic, industrial and commercial sectors between the two countries.    In a meeting between Sheikh Abdullah and Zeghdar in Abu...
  • Realty growth in Saudi Arabia, UAE to build on strong private sector and robust spending via govt initiatives

    While 2022 saw record levels of demand for commercial office space as a result of ‘Programme HQ’, 2023 looks set to be dominated by the delivery of high quality residential-led mixed use schemes and a continued focus on tourism, leisure and entertainment projects, adds Burch, Partner and Head of Real...
  • Investments in Jordan industrial estates rise 19 percent in 2022

    AMMAN, JORDAN - Investments in industrial estates in 2022 hit US$4.2 billion (JD3 billion), an increase of 19 percent compared with 2021, supported by 174 new investments worth US$811 million (JD575 million), the Jordan Industrial Estates Company (JIEC) said on Sunday. In a statement, JIEC noted that 27 of the...
  • US industrial output decreases in November

    Industrial production in the US slumped in November with "broad based" decreases, the Federal Reserve said, as output for bigger-ticket consumer products and manufacturing fell. While tangled supply chains and surging costs which weighed on businesses are easing, in a boost to production, firms are now contending with weakening demand...
  • UAE, UK experts discuss science, tech help in net-zero agenda

    ABU DHABI, UAE - Experts from UK and the UAE participated in a Sci-Tech Virtual Tour of the Emirates science and technology ecosystem. The virtual tour was organized by UAE’s Ministry of Industry and Advanced Technology (MoIAT), the Ministry of Foreign Affairs and International Cooperation (MoFAIC), UAE Embassy in London,...
  • ABB to pay US$315m fine

    Two affiliates of ABB pleaded guilty to bribery charges.
  • NEXT50 unveils platform for firms to maximize their business values

    Abu Dhabi, UAE -- NEXT50 today launched PLATFORM50, a one-stop-shop solution for organizations to maximize business value and address tomorrow’s challenges. The announcement was made at NEXT50’s inaugural Executive Day – which spotlighted the latest in state-of-the-art technologies including artificial intelligence (AI) and real-world applications accelerating a data-driven future in...
  • EGA, ITOCHU sign agreement

    They would set up UAE's largest aluminum recycling facility.
  • Siemens posts Q4 profit of $3bn

    Firm posts FY 2021-22 net profits of around US$4.6 billion.
  • German industries explore investment opportunities in UAE

    Some of Germany’s leading industrial companies participated in a roundtable event hosted by the UAE Ministry of Industry and Advanced Technology at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2022.
  • Saudi Arabia issues permits for projects worth US$1.1bn

    Riyadh, Saudi Arabia—Saudi Arabia has issued permits for non-oil industrial projects worth $1.1 billion in August. The licenses issued in August were for chemicals, metals, machinery, furniture, home appliances and other light-medium products. Around 115 licenses were issued for non-oil industrial projects — 20 percent higher than those issued in...
  • CBUAE issues commemorative coins on Tawazun’s 30th anniversary

    The Central Bank of the UAE (CBUAE) in collaboration with the Tawazun Economic Council (Tawazun), has issued 1,000 silver commemorative coins to mark the 30th anniversary of Tawazun.
  • Abu Dhabi’s Environment Agency holds training for industries

    The Environment Agency - Abu Dhabi (EAD) organized two training workshops on the Green Industries environmental labeling program.
  • Sharjah Chamber organizes forum, briefs Russian delegation

    The Sharjah Chamber of Commerce and Industry (SCCI) has organized a forum to discuss ways to boost economic ties and deepen commercial collaboration with Russian business community.
  • Abu Dhabi industrial sector registers 136 new licenses in H1

    Abu Dhabi, UAE-- The registration of 136 new industrial licenses in the first half of 2022 points to a strong growth of Abu Dhabi's industrial sector, according to the Industrial Development Bureau (IBD), which is part of the Abu Dhabi Department of Economic Development (ADDED). The number of  licenses transitioning to...
  • Real estate transactions worth US$544m at Sharjah in August

    Real estate transactions in the Emirate of Sharjah totaled US$544 million (AED 2 billion) in August 2022, according to the monthly report published by Sharjah Real Estate Registration Department (SRERD).
  • Oil and gas sector fuels demand for industrial space in Dubai

    Ecommerce operators, who have seen an acceleration in activity post the onset of the pandemic, have further expanded their operations.
  • Blast rocks one of Iran’s biggest and oldest refinery complexes

    An explosion rocked a key oil refinery in Iran's southwestern city of Abadan overnight, state media said Friday, reporting no casualties. The explosion was caused by the "bursting of one of the furnaces of the sulphur production unit of Abadan refinery", state news agency IRNA said. The blast "did not...
  • Saudi economy pins hope on female entrepreneurs

    Saudi women, who had begun with small projects, are now creating startups and setting up factories, highlighting drastic change in business environment in the Kingdom.
  • RAK DED allots 837 licenses worth $39.48m in H1

    The department's report highlighted the fact that professional licenses accounted for 49 percent of total numbering 8,986, followed by commercial licenses, which accounted for 48 percent at 8,8829, then by industrial licenses.
  • Sharjah records 2,417 real estate transactions in July 2022

    Sharjah Real Estate Registration Department (SRERD) has revealed that total transactions carried out in July 2022 amounted to 2,417 transactions across 71 different areas distributed over the Emirate of Sharjah.
  • Israel’s border closure could shut Gaza’s only power station

    The Israeli military has also imposed restrictions of movement on Israeli communities adjacent to the Gaza Strip.
  • Ajman posts 16 percent growth in new licenses in first half of 2022

    The Department of Economic Development in Ajman (Ajman DED) has said the number of new economic licenses grew by 16 percent, from 2,271 licenses in the first half of 2021 to 2,637 licenses in H1 2022. According to the H1 2022 business movement report, the number of new professional licenses...
  • ‘Credit by national banks rose to US$3.5bn till April 2022’

    Credit facilities provided by national banks to the business and industrial sector rose 1.92 percent to US$3.5 billion (AED13.1 billion) in the first four months of 2022.
  • Bahrain joins UAE, Jordan and Egypt in industrial pact

    Prime Minister of Egypt Mostafa Kamal Madbouly witnessed a signing ceremony Monday in Cairo that welcomed Bahrain as the fourth country to join the Industrial Partnership for Sustainable Economic Development, which includes the UAE, Jordan and Egypt.
  • Saudi center to auction industrial properties in Riyadh

    Saudi Arabia's  Center for Attribution and Liquidation "Infath" will auction quality real estate in Riyadh on  August 1, a media report said. The auctions offer 14 industrial real estate assets in eastern Riyadh, with large total areas estimated at more than 80,000 square meters. The real estate consists of three...