UAE discusses temporary Gaza governance with US, Israel, seeks two-state solution assurance: report
Discussions led by the UAE include provisional administration, PA leadership overhaul, and Gaza reconstruction, requiring extensive international cooperation and adherence...
Geostrategy
In a change of tone, Syria’s new leader urges US to pressure Israel for withdrawal
Julani’s appeal comes as Syria signals a shift in its diplomatic tone. Maher Marwan, Damascus’ new governor, told NPR that...
Geostrategy
Business
KEZAD, Al Ghurair Foods ink pact
Pact involves investment of over US$272 million.
- The agreement will mark the first phase of Al Ghurair Foods division’s investments in KEZAD.
- The highest standards of food safety in line with International biosecurity standards will be followed.
Geostrategy
UAE to take part in meeting with Arab finance ministers, experts
ABU DHABI, UAE - The UAE will participate in the Joint Annual Meeting of Arab Financial Institutions, which will be...
- UAE will participate in the 52nd annual meeting of the Board of Governors of the Arab Fund for Economic and Social Development.
- UAE will also take part in the 47th annual meeting of the Board of Governors of the Arab Bank for the Economic Development in Africa.
Business
DFM net profit surges 30%
The consolidated revenue rose 13 percent to $24.2 million.
- The total consolidated revenue rose 13 percent to $24.2 million in Q1 2023, compared to $21.4 million in Q1 2022.
- Operating income amounted to $12.9 million, while investment returns and other income reached $11.3 million
Geostrategy
NATO secretary general calls Jordan king, reaffirms strategic partnership
Amman, Jordan - Jordan King Abdullah on Wednesday received a phone call from NATO Secretary General Jens Stoltenberg during which...
- They discussed “the deep-rooted cooperation and strategic partnership,” in military, training, and defence areas
- Earlier this month, Prime Minister Bisher Khasawneh met a delegation from the Republican Party of the US Congress
Business
FAB posts Q1 net profit of $1bn
Operating income increased by 51 percent year-on-year.
- The Q1 net profit rose by 60 percent sequentially, leading to an annualized Return on Tangible Equity of 18.5 percent.
- The cost-to-income ratio improved to 25.1 percent, compared to 33.2 percent in the same quarter last year.
Business
DP World reports Q1 container volume growth of 3.7%
Dubai, UAE - DP World Limited, a global container terminal operator based in Dubai, has reported an increase in container...
- The company handled 19.5 million TEUs across its global portfolio, which is a 1.4 percent increase on a reported basis
- The growth was driven by a strong performance in Asia Pacific and India, while Europe and the Americas saw softer performance
Business
Dana Gas approves cash dividend
The total dividend payout will be $171 million.
- Shareholders holding the shares on May 4, 2023, will be eligible to receive the interim dividend, which is expected to be paid on May 25, 2023
- The total dividend payment for the year will be AED630 million ($171 million) or 9 fils per share, a 12.5 percent increase compared to the dividend for 2021
Business
Arabia Taxi adds 269 new Tesla cars to its fleet in Dubai
Dubai, UAE - Arabia Taxi, a subsidiary of Economic Group Holdings in the UAE, has signed an agreement with Tesla...
- The Economic Group Holdings owns the largest fleet of private taxi vehicles in the UAE
- These new Tesla vehicles are a step towards the company’s goal of becoming fully electric
Science
Rashid 2: UAE plans new lunar mission
Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum visited the MBRSC and met the team behind the UAE’s first attempt...
- Japanese spacecraft carrying UAE's Rashid Rover made unsuccessful landing on Tuesday
- Communication was lost with Hakuto-R moments before it was due to touch down at around 16:40 GMT
Business
UAE delegation visits Belgium to strengthen economic ties
Abu Dhabi, UAE - A UAE delegation led by Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade,...
- Non-oil bilateral trade between the UAE and EU amounted to US$56 billion in 2022, achieving growth of 9.3 percent.
- Non-oil trade value grew by 28.6 percent and 14.7 percent over the same period in 2020 and 2019, respectively.
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UAE discusses temporary Gaza governance with US, Israel, seeks two-state solution assurance: report
Discussions led by the UAE include provisional administration, PA leadership overhaul, and Gaza reconstruction, requiring extensive international cooperation and adherence...
Geostrategy
Company News
Latest News
Zain KSA expands 5G network
Business
Aramco chief expects oil demand to rise by 1.5 mbpd in 2024
Riyadh, Saudi Arabia - Saudi Aramco's President and CEO, Amin Nasser, anticipates a surge in global oil demand, projecting an...
Business
UAE launches new ‘EcoMark’ green accreditation framework for MSMEs
Davos, UAE - The UAE has announced plans to develop the first-ever sustainability accreditation framework explicitly for micro, small and...
Economy
Gold extends slide after Fed dampens March rate cut hope
Dubai, UAE - Gold prices extended losses on Wednesday as the US dollar strengthened after comments from a Federal Reserve...
Economy
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Business
Iran wants trade with Saudi Arabia to be highest in region: Ambassador
Riyadh, Saudi Arabia - Iran wants to elevate the levels of trade and investment exchanges with Saudi Arabia to the...
- The remarks assume significance in light of the absence of trade exchanges between the two countries, despite the significant scale of their foreign trade
- In 2022, Saudi Arabia's foreign trade reached approximately $601.1 billion, while Iran's trade volume amounted to about $132.6 billion
Geostrategy
Iran, India reach final agreement on Chabahar Port
Tehran, Iran – Iran and India on Monday finalized an agreement for the development of the strategic Chabahar port in...
- Chabahar Port, Iran's sole oceanic port on the Gulf of Oman, holds strategic importance both strategically and economically
- In May 2016, India, Iran, and Afghanistan signed a trilateral agreement for the Chabahar port, facilitating New Delhi's access to Kabul and Central Asia
Economy
Saudi authorities reduce fee for recruiting domestic help
Riyadh, Saudi Arabia - Saudi Ministry of Human Resources and Social Development (MHRSD) announced on Monday that it has cut...
- The ministry had previously directed licensed recruitment companies and offices to set the upper limit for the costs of recruiting domestic worker services from some nationalities
- The decision comes within the framework of the ministry’s effort to develop all services, improve the labor market environment and enhance its attractiveness