Jordan exports pharmaceutical products worth US$874m in 2023
AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...
Business
Business
Dubai Chamber of Commerce achieves 46.7% success rate in mediation cases
DUBAI -- The Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, has revealed that it...
- The combined value of mediation cases received during H1 2023 reached US$11.5 million, with US$5.7 million resolved
- Mediation offers advantages such as flexibility, speed, efficiency, and confidentiality, saving time, effort, and money
Geostrategy
Global cooperation crucial for multipolar world order
"We are seeing consistent movement toward the emergence of a multipolar world order. Most countries are prepared to stand up...
- Russian President emphasizes the importance of countries standing up for their sovereignty, national interests, traditions, culture, and way of life
- Putin underscores the emergence of a multipolar world order and the gaining strength of new centers of economic and political authority
Business
Ma’aden Q2 revenues hit $1.86bn
Record phosphate output boosts the company's performance.
- The firm's net profit records US$93.5 million, reflecting the downturn in commodity prices
- Debt reduction witnessed with long-term borrowings and net debt decreasing by 11% and 9%
Economy
Youth play crucial role in building sustainable future
"The UAE is committed to a sustainable future, and we believe that our youth are the key to achieving this...
- The UAE is committed to a sustainable future, says Awaidha Murshed Ali Al Marar, Chairman, Abu Dhabi Department of Energy
- By empowering young people with green skills, we can help them shape the energy landscape for the future, adds the official
Business
EIH gives $27.2m dividend
The company's net profit for H1 2023 stands at US$121.221 million.
- The company's net profit for H1 2023 stands at US$121.221 million, up from US$6.535 million in 2022
- EIH's assets grow from US$21.171 million in H1 2022 to US$607.19 million in the first half of 2023
Business
QAMCO’s H1 net declines 60.7%
Average selling prices stood at US$2,743 per metric ton.
- Earnings Per Share for QAMCO stands at US$0.0118 as of 30th June 2023, compared to US$0.0302 in 2022.
- Decline in profits is attributed to a 24% drop in average selling prices and a slight decrease in sales volumes
Economy
Iraq’s apex bank introduces new exchange categories for dollar sales to travelers
BAGHDAD -- The Central Bank of Iraq has introduced three distinct categories of exchange companies dedicated to selling dollars to...
- Exchange companies will operate under strict Central Bank regulations and Anti-Money Laundering Law
- Enhanced electronic platform by the Central Bank of Baghdad will oversee all dollar sales to citizens
Sheikha Bodour to chair revamped board at American University of Sharjah
SHARJAH -- Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has outlines the restructuring...
- The Board of Trustees of the American University of Sharjah has been restructured
- New board members to begin their term in October. Membership term set for three years
Economy
Iraq streamlines imports, focuses on strengthening domestic industries
In a move to fortify the local market, Iraq's Ministerial Council of Economy has taken decisive steps, including the removal...
- Iraq's Ministerial Council of Economy removes four items from import lists
- 4% customs tariff reduction announced for imported live animals for slaughter
US, Iraq strengthen security ties; vow to defeat ISIS; set up military commission
WASHINGTON – The United States and Iraq pledged to boost security cooperation, regional stability, and the shared interest in Iraq's...
- Iraq, US focus on the 2008 U.S.-Iraq Strategic Framework Agreement and non-combat role of U.S. forces
- The two countries emphasize recognition of the support from CJTF-OIR to the Iraqi Security Forces
Company News
RAK cultivates communities with arts and culture
Arts & Culture
Latest News
BGN to get $100m in financing
Abu Dhabi Exports Office, Mashreq and ADCB to provide financing.
Business
Qatar-Turkey business forum sparks new joint ventures
Emphasizing the importance of holding meetings and mutual visits, Sheikh Khalifa bin Jassim bin Mohamed Al-Thani notes this would bolster...
Economy
WEF24: Gulf cities spearhead global investment surge
GCC cities such as Abu Dhabi, Dubai and Riyadh showcase dynamic growth, rivalling global metropolises, says Julien Hawari, CEO &...
Geostrategy
Most Read
Arts & Culture
RAK cultivates communities with arts and culture
“Culture and arts are an integral part of building communities and a key pillar of Ras Al Khaimah’s sustainable development,”...
- Sheikh Saud bin Saqr Al Qasimi champions culture and arts as foundational for community and sustainable development in Ras Al Khaimah.
- The 12th RAK Art Festival at Al Jazeera Al Hamra Heritage Village showcases 106 artists, emphasizing the Emirate's dedication to global culture.
Business
Robots save UAE’s finance ministry 39,000 working hours
Dubai, UAE -- UAE's Ministry of Finance has saved 39,000 hours of human labor by using bots, software applications that...
- The Ministry has just completed phase two of embedding robotic process automation (RPA) into many of its internal processes.
- By 2022, it had more than 50 bots working unattended, delivering great results, and it expects to save an additional 12,000 working hours in 2023.
Business
Arab Bank Group net profit $829.6m
The Group posted a 52% increase in net income compared to 2022.
- Total Assets grew by 6 percent to reach $68.3 billion and loans grew by 5 percent to reach $37.1 billion.
- The Board has recommended to the shareholders the distribution of 30 percent cash dividends for the financial year 2023.