UAE defense conglomerate EDGE signed nearly $2bn in deals
Dubai, UAE -- UAE defense conglomerate EDGE Group has inked deals worth at least $1.8 billion during the Dubai Airshow,...
Business
AJEX, MODON sign partnership
AJEX will have rights to operate warehousing facilities at Modon.
Business
Cybersecurity experts to discuss defense strategies at GISEC 2021
Participants will hear how international law enforcement agencies are working together to fight cybercriminals
$2.3 billion of realty deals in four emirates in Q1 2021
The deals are a sign that the worst is over and smart recovery is picking up
Dubai property booms as wealthy buyers escape lockdowns
Credit goes to recent government reforms, attractive mortgage rates, a shift in demand due to Covid-19
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,...
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UAE defense conglomerate EDGE signed nearly $2bn in deals
Dubai, UAE -- UAE defense conglomerate EDGE Group has inked deals worth at least $1.8 billion during the Dubai Airshow,...
Business
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Turkish officials discuss scenarios around stalled Russia grain deal
Turkey’s top diplomat Hakan Fidan is planning to discuss the results of these discussions with Russian Foreign Minister Sergey Lavrov...
Geostrategy
Etihad Cargo flight lands in Hubei
Hubei's Ezhou Huahu Airport is world's fourth professional cargo airport.
Business
Dubai real estate market records deals worth $653 million
Dubai, UAE -- Dubai's real estate market recorded deals worth AED 2.4 billion ($653 million) on Thursday, according to Dubai...
Business
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Business
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...
- The department executed a total of 2,783 transactions, including 684 sales transactions across 96 areas in various regions of the emirate.
- The number of mortgage transactions were 447, constituting 16.1 percent of the total number of transactions with a value of AED420.1 million.
Business
DP World H1 EBITDA $2.6bn
The company's revenue grew 13.9 percent to $9.03 billion.
- CEO Sultan Ahmed bin Sulayem said the company's balance sheet remains robust, and it continues to generate high levels of cash flow.
- DP World's focus on high-margin cargo, end-to-end bespoke supply chain solutions and cost optimization has been crucial in securing these results.
Business
Struggling Lucid weighs down PIF’s robust US equities show
Dubai, UAE -- Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), reported 9.6 percent growth in its US equity holdings to...
- Lucid continued to drag down the fund’s US public holdings with q-o-q growth of 6.2 percent to US$9.47 billion – a level that was still 45.6 percent down on end-June 2022.
- The EV manufacturer has struggled with mounting losses and tightening cash reserves due to recession risks and a price war with its bigger rival Tesla.