Business
Aramco, SABIC sign pacts
They will explore refining and petrochemical projects in China.
- Aramco and Sinopec have signed heads of agreement for a greenfield project in Gulei in Fujian province.
- Additionally, Aramco, SABIC and Sinopec signed an MoU to study the economic and technical feasibility of developing a new petrochemical complex.
Geostrategy
UAE takes part in 17th Asia Pacific Regional Meeting of ILO
SINGAPORE - The UAE has participated in the 17th Asia Pacific Regional Meeting of the International Labor Organization (ILO) in...
- Over 500 representatives of governments, labor organizations and companies from 33 countries took part in the meeting.
- The meeting discussed labor priorities and ways to promote employment in the Asia Pacific.
Business
European Investment Bank lends Tunisia $229 million for food, power needs
Dubai, UAE--The European Investment Bank has granted Tunisia a 216 million ($229 million) loan to support its food security and...
- The Tunisian government signed an agreement with the bank, under which 150 million euros will be granted to support its food security.
- Another 66 million euros will be granted to support the company's program for developing infrastructure related to strengthening and expanding the power sector.
Business
Ajman real estate deals up by 73 percent in Nov to $381 million
Ajman, UAE-- The Department of Lands and Real Estate Regulation in Ajman recorded 1121 real estate transactions worth AED1.4 billion...
- Department of Lands and Real Estate Regulation recorded 123 mortgage transactions with a total value of AED 437 million.
- The highest mortgage value was recorded at AED 93.5 million in the “Al-Nakhil 1” area.
Videos
UAE 2031 vision key to its global ambitions
The vision is based on four pillars that cover all sectors including the society, economy, diplomacy and ecosystem, the government...
- We the UAE 2031’ vision is a national plan through which the UAE aims to pursue its development path for the next 10 years.
- It seeks to "enhance the position of the UAE as a global partner and an attractive and influential economic hub", the government says.
Business
KEZAD Group signs lease
The 50-year lease was signed with Star Paper Mill.
- Under the agreement, Star Paper Mill in collaboration with RC Paper Machines, will expand its existing capacities with an investment of AED200m.
- Star Paper Mill’s new facility would have installed capacity of 135,000 tons to manufacture recycled semi kraft liner, white top liner and testliner.
Business
Sharjah records 68% increase in female entrepreneurs: Business Council director
Sharjah, UAE--- Sharjah has witnessed a 68 percent increase in female entrepreneurs recently and as the market grows and expands,...
- More than 50 percent of the UAE’s museums were located in the emirate and that tourism made up over 12 percent of the GDP.
- About 90 percent of the AED700 million real estate investments in the emirate last month were made by foreigners.
Business
Sharjah realty market gains, records deals worth $735 million in Nov
Sharjah, UAE-- A total of 2,813 real estate transactions valued at AED 2.7 billion ($735 million) were recorded in Sharjah...
- A total of 2,813 real estate transactions valued at AED 2.7 billion ($735 million) were recorded in Sharjah during November, compared to AED 1.9 billion in October.
- The report revealed that real estate market sales covered a total area of 13.3 million square feet, distributed over 99 locations.
Economy
Stocks markets, oil prices extend losses as experts warn of stagflation
After a healthy rally in recent weeks fuelled by signs that price rises were slowing, the US Federal Reserve, European...
- While inflation in most countries has started coming down -- helped by a drop in energy costs -- it remains at multi-decade highs.
- And observers have warned that economies could be heading for a period of stagflation where prices keep rising but growth stalls.
Business
Tadweer added to ADQ’s portfolio
Tadweer's full share ownership was transferred to ADQ.
- Tadweer is the sole custodian of waste management for the emirate of Abu Dhabi.
- ADQ’s energy and utilities portfolio also includes Abu Dhabi National Energy Company (TAQA), Emirates Nuclear Energy Corporation (ENEC).
Company News
Latest News
DP World H1 EBITDA $2.6bn
Business
Nine works nominated for 9th Katara Prize for Arabic Novel
Doha, Qatar - The Cultural Village Foundation (Katara) revealed the lists of nine works that would be included in the...
Arts & Culture
Qatar’s Hamad International Airport named world’s second-best
London, United Kingdom -- Qatar's Hamad International Airport has been named as the best airport in the Middle East, and...
Business
Most Read
Business
Lumi IPO 11.5 times oversubscribed
The daylong retail offering saw 124,900 investors subscribe.
- The number of shares allocated to retail investors reached 1.65 million, representing 10 percent of the total IPO shares.
- Lumi floated 16.5 million shares, or 30 percent of its SAR 550 million capital, divided into 55 million shares, on Tadawul.
Business
UAE’s internet quality world’s best, but e-security concerns remain
The UAE's achievement in internet quality marks a significant improvement from its previous third-place ranking in this category. However, in...
- The DQL Index assesses the digital quality of life in 121 nations, covering 92 percent of the global population, across five key pillars and 14 indicators.
- The UAE's impressive internet quality score is attributed to its fixed internet speed, which averages 229 Mbps, ranking second globally just behind Singapore.
Business
Russian Post working on opening company in UAE, says CEO
Vladivostok, Russia -- Russian Post is working on opening a company in the UAE, CEO Mikhail Volkov told TASS in...
- In 2018, the Russian Post opened its first overseas branch in Berlin. In 2019, it completed registration of its subsidiary RP Logistics (Shenzhen) Co. Ltd. in China.
- The Russian Post is endeavoring not to interrupt the exchange in postal items and just six countries ended postal communications with Russia to date, TASS reported.