Gulftainer extends concession pacts
The agreements with Sharjah Ports extended for another 35 years.
Business
EPI to make assembly parts for Raytheon
EPI is part of the Platforms Systems cluster within EDGE.
Business
Cyprus votes amid anger over graft scandal
With over 27 percent of the vote, conservative DISY remained the largest force in parliament
ADX lists US$1 billion Abu Dhabi Ports bonds
The company is planning $4.2 billion in investment in next 5 years
Egypt gears up to host Africa Food Manufacturing in August 2021
The exhibition is expected to feature more than 150 participants from 20 countries, covering the four core sectors of manufacturing:...
Uber appoints new GM for MENA, Pakistan region
Pall will lead the next phase of growth for Uber’s ride-sharing business across the region
UAE urges smokers to quit after WHO warning
The UAE has also imposed a selective tax on tobacco and its derivatives by 50 – 75 %
A Dubai startup unveils a program to fight climate change in MENA
Olive Gaea calculates the carbon footprint of any individual or business through a simple yet science-based questionnaire
Kuwait Finance House launches wellness program for staff
Hintsa Performance has developed 'Better Life' wellbeing program for KFH staff Program elements include physical activity, nutrition, sleep and recovery,...
Philippines wants close cooperation with UAE to achieve food security: Minister
Philippines minister Ramon Lopez said UAE investors are encouraged to explore agribusiness and agriculture in his country Filipinos constitute the...
Bee’ah, Chinook Sciences announce region’s first waste-to-hydrogen project
The project will include a green hydrogen generation plant and a hydrogen vehicle fueling station The fueling station will use...
Turkey and Greece to take steps to improve economic ties
Tensions between the two flared last year over a maritime jurisdiction in the Mediterranean
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Gulftainer extends concession pacts
The agreements with Sharjah Ports extended for another 35 years.
Business
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Subscription opens to Alinma EMF
Business
Saudi Catering, RSG ink pacts
Business
Falconers meet in Abu Dhabi for special auction from Sept 2-8
Abu Dhabi, UAE -- Following the success of the Falcon Auction in the last edition of Abu Dhabi International Hunting...
Arts & Culture
Sharjah records real estate deals worth $517 million in July
Sharjah, UAE -- Sharjah has recorded real estate transactions worth AED1.9 billion ($517 million) during July 2023, according to the monthly...
Business
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Business
AD Ports Group Q2 net profit $84m
The Group posted 66% year-on-year revenue growth.
- Maritime, Digital, and Ports Clusters were the key growth drivers with 208 per cent, 26 per cent, and 22 per cent year-on-year, respectively.
- AD Ports Group Q2 2023 EBITDA rose by 29 per cent year-on-year to AED686 million, mainly driven by maritime, digital, and ports clusters as well as acquisitions.
Economy
Saudis, Emiratis gain wealth, but disparity remains
In 2022, 45 percent of adults in Saudi Arabia had a net worth of less than $10,000, against 43 percent...
- The net worth per adult in Saudi Arabia surged by an impressive 8.6 percent in 2021, followed by a 6.6 percent increase in 2022, both measured in US dollars.
- The Gini coefficient for wealth inequality in 2022 was 86.7 in Saudi Arabia and 86.9 in the UAE, placing both nations among the highest in global wealth inequality rankings.
Business
Riyad Capital okays 2.5% cash dividend
The SAR 0.25 per unit dividend will be paid to Riyad REIT Fund's unitholders.
- The distribution represents 2.19 percent of net asset value (NAV) as of June 30, 2023.
- Riyad REIT is a closed-ended Shariah-compliant real estate investment traded fund.