AJEX, MODON sign partnership
AJEX will have rights to operate warehousing facilities at Modon.
Business
EDGE bags $1.1bn UAE defense ministry munitions contract
Dubai, UAE -- EDGE, one of the world's leading advanced technology and defense groups, announced that it bagged an AED...
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Saudi Arabia allows a Spanish solar power firm to set up plant in the kingdom
PV Hardware Middle East will manufacture trackers, mounting structures, and cleaning robots for the Saudi solar market
Qatar is the go to place for migrants workers looking for a decent life
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Egypt, Ever Given continue to spar over compensation for Suez blockage
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Zain launches Middle East’s first mental wellness support for employees
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Digital transformation boosts data economy growth in UAE: Report
Data economy on track to become one of the largest economic sectors globally The report suggests stepping up collaboration among...
Vantage Capital invests $23 million in PickAlbatros Hotels
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Jean Marie Bockel appointed Middle East GPF ambassador
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AUS, Petrofac partner to improve solar energy efficiency
AUS, Petrofac develop a technology that can remotely assess the cleanliness of solar panels Abundant sunlight makes the UAE a...
UAE: Emirate to receive direct commercial flights from Ukraine
The move will see Ras Al Khaimah welcome flights from Kyiv twice a week Travelers from Ukraine will receive complimentary...
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AJEX, MODON sign partnership
AJEX will have rights to operate warehousing facilities at Modon.
Business
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The SAR 0.25 per unit dividend will be paid to Riyad REIT Fund's unitholders.
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Bahrain Central Bank’s Sukuk Al Salam oversubscribed 319%
Manama, Bahrain - The Central Bank of Bahrain (CBB) has said its monthly issue of the Sukuk Al-Salam Islamic securities...
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APIC H1 net profit down 39%
Total revenues grew by 7.2% YoY to $590 million.
- Net profits attributed to APIC shareholders in the first half of 2023 reached $11.08 million.
- Total assets increased by 8.74 percent compared to 2022's closing and reached $756 million.
Business
Mawani adds 20 cargo services to Saudi Arabia’s ports in H1
Riyadh, Saudi Arabia -- The Saudi Ports Authority (Mawani) has added 20 cargo services to the ports of Jeddah, Dammam,...
- Transshipments gained 12.19 percent over the prior year’s volume of 1,391,221 TEUs to reach 1,560,790 TEUs in H1 2023.
- A total of 5,918 vessels called at Mawani’s ports during this year’s first half, up 10.68 percent year-on-year from 5,347 ships.
Business
ADEX and Egypt sign wheat, commodities financing agreement
Abu Dhabi, UAE -- Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has...
- The agreement entails a revolving financing program valued at S100 million, to be renewed annually over a five-year period, ultimately reaching a total of $500 million.
- The UAE’s support has contributed to the establishment of 25 silos in 17 governorates of Egypt, increasing wheat storage capacity by 1.5 million tons.