Riyadh Season 2024 signs sponsorship agreements with local, global partners
Riyadh, Saudi Arabia-- A signing ceremony for Riyadh Season 2024 sponsorships was held on Thursday at Via Riyadh. General Entertainment...
Business
Riyadh leads Saudi Arabia’s date production with record sales
Riyadh, Saudi Arabia - Riyadh is currently hosting the third Seasonal Dates Exhibition, a major economic, social, and tourist event....
Economy
Business
Major Abu Dhabi Securities Exchange deals total $4bn since start of 2023
Abu Dhabi, UAE - The Abu Dhabi Securities Exchange (ADX) has reported the execution of 10 significant deals with a...
- The deals were carried out through 321.14 million shares of three listed companies
- Five major deals were signed by Al Alamiya Holding, the largest share among the three
Geostrategy
UAE, Georgia sign Comprehensive Economic Partnership Agreement
The UAE and Georgia signed a joint statement confirming the successful conclusion of negotiations towards the UAE-Georgia Comprehensive Economic Partnership...
- Comprehensive Economic Partnership Agreement (CEPA) signing took place in Georgia’s capital Tblisi during a UAE delegation's visit to the country.
- The free trade agreement or CEPA will lay the foundation for deeper, stronger and more integrated economic relations between the UAE and Georgia.
Geostrategy
Iran-US nuclear talks dead for now, says acclaimed scholar
The degree of anger and sympathy for the protesters, particularly among the American and European public, makes it near impossible...
- Iran’s relations with the Arab countries are better than they were a year or two ago
- Unsure of the US help, Gulf states are following their own strategy on managing danger in their region
Business
DIB declares 30% dividend
The bank’s net profit in 2022 surged 26 percent.
- The bank’s net profit in 2022 surged 26%, the highest ever in its history with a balance sheet of $78 billion, culminating in a five-year CAGR of 7%
- According to Moody's Investors Service's most recent assessment on the GCC banking industry, large GCC lenders are trying to consolidate their market share
Economy
UAE, Russia to enhance cooperation in economic, technology sectors
Moscow, Russia - The UAE and Russia have agreed to enhance cooperation in the fields of innovation, environment, and education...
- The two countries are also looking forward to enhancing cooperation in renewable energy and food security
- Shifting of Russian oil trade away from the west has made the UAE the focus of Moscow's ongoing pivot to Asia
Business
India’s Bharat Dynamics Limited picks EDGE’s GradeOne as partner
ABU DHABI, UAE - Bharat Dynamics Limited (BDL), a Defense Public Sector Undertaking under India's Ministry of Defense appointed EDGE's...
- Established in 2004, GradeOne specializes in defense trading and services and providing various solutions to the military and defense sectors
- It is part of the Trading & Mission Support cluster within EDGE, one of the world’s leading advanced technology groups.
Geostrategy
China, Russia, Iran conduct joint naval drills in Gulf of Oman
China, Iran, and Russia are conducting a five-day trilateral naval exercise, Security Belt-2023, in the Gulf of Oman, according to...
- China's Defense Ministry, in a statement, said the exercises will conclude on Sunday and will include the participation of China's guided-missile destroyer Nanning
- Russia will be represented by a detachment of ships from the country's Northern Fleet, including the Admiral Gorshkov frigate and the Kama medium sea tanker
UAE to invest $30bn in South Korea over the next few years
Abu Dhabi, UAE – The United Arab Emirates will invest $30 billion in South Korea over the next few years,...
- Korean FDI in the UAE totaled USD2.2 billion up until the beginning of 2021, reflecting a 73 percent growth
- These investments are mostly concentrated in finance, insurance, mining, retail, real estate, energy and technology sectors
Economy
Indian, UAE cooperating in green hydrogen development: Indian minister
New Delhi, India -- India’s Minister for New, Renewable Energy and Power, R K Singh said on Tuesday that India...
- The UAE's expanded cooperation with India in clean energy aims to support New Delhi's ambition to achieve 450 gigawatts of renewable energy
- R K Singh said that the bilateral cooperation in renewable energy, similar to the UAE, is being promoted with Australia, Finland and Germany
Business
Apple loses to rival Samsung in Middle East smartphone market
Dubai, UAE - Apple has lost ground in the Middle East smartphone market during 2022 to main rival Samsung, according...
- Samsung has enhanced its share in the smartphone market in the Middle East to 40 percent in 2022, up from 34 percent in 2021
- Xiaomi also lost market share, falling to 14 percent from 15 percent in 2021, while Transsion fell to 13 percent from 15 percent in 2021
Most Read
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
Riyadh Season 2024 signs sponsorship agreements with local, global partners
Riyadh, Saudi Arabia-- A signing ceremony for Riyadh Season 2024 sponsorships was held on Thursday at Via Riyadh. General Entertainment...
Business
Company News
ADNIC reports $82m profit
Business
Latest News
Illegal Israeli settlers block Palestinian farmers from farming lands
Tubas, Palestine - Colonial Israeli settlers backed by the Israeli military prevented Palestinian farmers from plowing their lands today in...
Geostrategy
IHC announces formation of 2PointZero – a next generation holding company
ABU DHABI, UAE - The International Holding Company (IHC) announced the initiation of the transfer of 2PointZero, a next generation...
Business
Halliburton, Hamriyah Free Zone in pact
Halliburton has been operating in the UAE for five decades.
Business
Most Read
Geostrategy
Israel rejects Hamas’ new proposal for release of Gaza hostages: report
Washington, United States - Israel has rejected a new proposal from Hamas through Qatari and Egyptian mediators for a deal...
- Each phase, according to the proposal, would include a pause in fighting for more than a month in exchange for the release of hostages
- The implementation of the third phase of the deal, which provided for the release of prisoners of war, implied the end of the conflict
Business
ADIB-Egypt introduces Shariah-compliant private banking services for HNWIs
Cairo, Egypt – ADIB-Egypt has launched its exclusive portfolio of Private Banking Services, providing a Shariah-compliant banking proposition for its high-net-worth...
- ADIB-Egypt’s Private Banking platform also provides access to Financial Advisory services led by specialized experts, to help clients' wealth achieve its full potential
- ADIB is also introducing a new service granting clients exclusive access to premier banking products and services in the United Arab Emirates
Business
Albilad Capital to pay dividend
The distribution ratio of the NAV stands at 0.10 percent.
- Albilad Capital confirmed that the dividends would be based on the unitholder register as of the end January 3, 2024.
- The total amount of distributed dividends has been declared at US$24,183, an indication of the fund's robust performance