Dubai’s family businesses get practical guidance with new toolkits
Dubai, UAE -- Three toolkits have been developed for family-owned businesses, which make up approximately 90 percent of the UAE’s...
Business
Decree issued to form Board of Dubai Corporation for Ambulance Services
Dubai, UAE -- Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum Monday issued a decree for the formation of the...
Business
Business
Immensa opens facility in Saudi Arabia
The $15 million is located in Dammam area of the Kingdom.
- The facility is the first private sector industrial grade additive manufacturing center in the Kingdom.
- It is equipped with cutting-edge technologies and is supported by more than 30 specialized engineers, the company said in a statement.
Business
Aramco, Rijal Almaa cooperative to develop region’s beekeeping sector
Dhahran, Saudi Arabia -- Saudi Aramco and the Beekeepers Cooperative Society in Rijal Almaa Governorate in Asir Region have signed...
- Through this initiative, the Beekeepers Association aims to produce approximately 10,000 queen bees and 4,000 breeding parcels for local bees without the use of external bees.
- The MoU also includes plans to improve the quality of beekeepers' products by introducing advanced equipment and quality testing training according to the highest standards.
Infographics
UAE crypto registration cost highest in GCC
The factors that influence the cost of registration include the type of business, the location of the business, and the...
- In addition to the registration fee, there are other costs associated with starting a cryptocurrency business, such as legal fees, accounting fees, and marketing fees.
- In the free zones of the UAE, the crypto registration cost is much lower than those areas under VARA.
Geostrategy
Lebanon’s main Druze party choses Taymur Jumblatt as new leader
Almost 2,000 supporters gathered in Ain Zhalta, in the Druze heartland of the Chouf mountains, where members of the Progressive...
- He takes up the mantle at a time when Lebanon has been reeling from three years of gruelling economic crisis, widely blamed on the governing elite.
- The Druze are a secretive offshoot of Islam that make up around five percent of Lebanon's population but who have wielded political clout under Taymur's father.
Business
Hyundai, Aramco sign $5bn contract
Hyundai will build a petrochemicals complex in the kingdom.
- Korean media reports said the deal, which will advance the Amiral project packages No. 1 and 4, is the largest contract won by a Korean builder.
- The deal comes a day after Saudi Aramco and France's TotalEnergies signed contracts to start building an $11-billion petrochemicals facility in Saudi Arabia.
Economy
UAE GDP up 7.9% in 2022 on strong non-oil sector performance
Minister of Economy Abdullah bin Touq Al Marri said that the strong GDP growth was due to the government's forward-looking...
- The UAE's GDP at constant prices totaled AED1.62 trillion in 2022, while non-oil GDP at constant prices reached AED1.174 trillion.
- Al Marri noted that the UAE's GDP per capita has grown by an unprecedented rate of 24.7 percent in the past six years, the highest in the GCC region.
Business
DP World, Pelindo and INA sign deal
They will more than double Indonesia's BNCT's capacity to 1.4m TEUs.
- The expansion and modernization program will strengthen BNCT's position as a major trade and logistics gateway in the Malacca Strait, DP World said.
- DP World will also work with its partners to connect other terminals and small ports on the Island of Sumatra.
Business
Dubai Financial Market delists shares of three companies
Dubai, UAE -- Dubai Financial Market has delisted shares of Gulf General Investments Company's shares, effective 23 June 2023, under...
- Shares of Gulf General Investments Company, Arabtec Holding Company and Marka Company were deslisted from 23 Jun 2023.
- Gulf General's delisting comes under the rule that empower it to delist any security that has been suspended from trading for a duration of six months.
Business
IsDB, AFD to finance $4bn projects in developing countries
Jeddah, Saudi Arabia -- The Islamic Development Bank (IsDB) and the Agence Française de Développement have signed an agreement to...
- The MoU was signed by the president of the Islamic Development Bank, Dr. Mohammed Al-Jasser in Vienna.
- Al-Jasser said last year that one out of every three member states of the Islamic Development Bank (IDB) is living in poverty.
Business
SAMI, Safran sign helicopter pact
Paris, France -- SAMI, a PIF-owned national defense and security organization of Saudi Arabia, has signed an agreement with Safran...
- The agreement includes technical assistance and qualification, development of technical infrastructure, and technical training for Saudi talents.
- Safran Helicopter Engines is the world's leading manufacturer of helicopter engines, with more than 75,000 produced since being founded.
Dubai’s family businesses get practical guidance with new toolkits
Dubai, UAE -- Three toolkits have been developed for family-owned businesses, which make up approximately 90 percent of the UAE’s...
Business
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SPCC signs two solar power purchase pacts with 1500MW capacity
Riyadh, Saudi Arabia - In a step towards bolstering Saudi Arabia's renewable energy initiatives, the Saudi Power Procurement Company (SPPC)...
Business
Contracts worth $2.93bn signed at Taif Investment Forum
Taif, Saudi Arabia -- Several investment contracts for projects in Taif Governorate, worth over SAR11 billion ($2.93 billion), have been...
Business
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Business
Saudi Real Estate Market records transactions worth $14.92bn
Riyadh, Saudi Arabia -- More than 70,000 transactions worth SAR 56 billion ($14.92 billion) have been conducted on Saudi Arabia's...
- The traded real estate areas amounted to about 550 million square meters (sqm), Argaam reported. Real Estate Market provides its services around the clock.
- Launched two months ago, It allows easy buying and selling of properties, in addition to helping beneficiaries to leverage mortgage services electronically.
Infographics
10,000 deaths raise specter of genocide in Gaza
Some world leaders like Turkey's President Erdogan use the term genocide to describe Israeli actions in Gaza. Israel has also...
- The President of Turkey, Recep Tayyip ErdoÄŸan, has used the term "genocide" to describe Israeli actions in Gaza.
- Pronouncements of several Israeli politicians, who openly called for extermination of Palestinians, have added to the fears of a genocide in Gaza.
Business
First SAF-powered Emirates flights cleared for take-off from Dubai
Dubai, UAE -- The first Emirates flights operating with sustainable aviation fuel (SAF) provided by Shell Aviation have taken off...
- Emirates’ flight EK 412 bound for Sydney on 24th October was among the first to operate with SAF.
- Shell has supplied 315,000 gallons of blended SAF for use at the airline’s hub in Dubai.