Dubai to host the world’s biggest ‘airport industry show’ in May
Dubai, UAE-- In the month of May scores of airport developers, officials, and suppliers from around the world will troop...
Business
UAE brings in new financing solutions for defense industries
Abu Dhabi, UAE--UAE-based SMEs in the industrial sector will soon be able to access new financing solutions and enablers following...
- The MoU aims to attract industrial investors to strategic sectors such as defense by providing a package of incentives and benefits
- EDB will provide flexible and competitive financing solutions such as green financing, financing capital expenditure, and financing start-ups and SMEs
Economy
UK finances post stronger surplus before key budget
London, United Kingdom--UK government finances recorded a stronger surplus than expected last month, official data showed Tuesday, news that analysts said...
- UK borrowing soared over the year on support schemes to help the country cope with rocketing energy bills
- The country is facing the biggest industrial action by public and private sector staff in more than a decade as they seek pay rises in line with sky-high inflation
Economy
AGFUND to support UNICEF’s drive to contain spread of cholera in Lebanon
Riyadh, Saudi Arabia--The Arab Gulf Program for Development (AGFUND) will support UNICEF with funding in order to contain the spread...
- An agreement was signed in Riyadh by Prince Abdulaziz bin Talal bin Abdulaziz, Chairman of the Board of Directors of AGFUND, and UNICEF Regional Director Adele Khodr
- The new cooperation includes the establishment of the Center of Excellence for Early Childhood Development, based in Riyadh
Business
STC posts record net profit
The company posted a record net profit of $3.2bn in 2022.
- Its total revenues gained 7 percent to $18 billion in 2022
- The company said that the higher profit was driven by an increase in revenues of $1.17 billion, which was offset by a slight increase in the cost of revenues by $220 million
Economy
Saudi Arabia, Costa Rica to expand trade and investment ties
Riyadh, Saudi Arabia-- Saudi Arabia and Costa Rica have signed agreements to increase the volume of trade and investment between...
- Saudi Chambers and the Costa Rican Export Authority signed two agreements in the field of economic cooperation and the establishment of a joint business council
- Saudi Chambers Vice President Badr bin Suleiman Al-Ruzaiza said there has been a steep growth of 59% in the volume of trade exchange between the two countries
Business
UAE and Azerbaijan sign MoU to boost financial, banking ties
Abu Dhabi, UAE--UAE Banks Federation (UBF) has signed a memorandum of understanding (MoU) with the Azerbaijan Banks Association to enhance...
- The agreement is designed to run various activities in the finance and banking sector jointly by both parties in order to exchange knowledge and experience
- There has been a steep increase in trade exchanges and joint investments between the two countries, which increased by more than 100 percent in 2022
Geostrategy
G42 signs on as strategic partner for IDC at NAVDEX 2023
Abu Dhabi, UAE--G42 and its subsidiaries Bayanat, Presight.AI and G42 Cloud have announced their participation as a strategic partner at...
- The conference will serve as a global platform for decision-makers and the defence sector to highlight technologies and challenges
- This year will mark the 30th anniversary of IDEX and the 12th anniversary of NAVDEX, where the exhibitions will form the biggest events of their kind in the region
Economy
Sharjah Electricity, Water and Gas Authority installs 23,000 smart meters
Sharjah, UAE--Sharjah Electricity, Water and Gas Authority (SEWA) has completed the installation of 23,000 new smart meters in 2022 and...
- The new smart meters apart from being accurate give accurate readings free from errors, as well as rationalising energy consumption
- Dr. Hassan Al Zarouni, Director of the Electricity Distribution Department, said the installation of smart meters is part of the strategy towards digital transformation
Business
HFZA to highlight investment opportunities at Gulfood 2023
Sharjah, UAE--The Hamriyah Free Zone Authority (HFZA) will take part in the upcoming 28th edition of Gulfood 2023, the biggest...
- The exhibition will bring together some top players from the global food and beverage sector, working together towards shaping the future of the industry
- HFZA’s pavilion will also highlight exclusive services provided by the park, specifically tailored for food industry owners
Business
Abu Dhabi delegation in Israel explores business opportunities
ABU DHABI, UAE - A delegation of 10 Abu Dhabi entities visited Israel from February 12-16 to discuss business cooperation...
- The Abu Dhabi delegation participated in the 2023 OurCrowd Global Investor Summit in Israel.
- The delegation hosted the Abu Dhabi Pavilion showcasing business and investment opportunities in the emirate.
Dubai to host the world’s biggest ‘airport industry show’ in May
Dubai, UAE-- In the month of May scores of airport developers, officials, and suppliers from around the world will troop...
Company News
Samsung profits plunge
Business
Latest News
Turkey FM warns of escalation in nuclear arms race
Tehran, Iran-- Expressing deep concern over Israel's possession of nuclear weapons, Turkish Foreign Minister Hakan Fidan has warned of a...
Geostrategy
EDB pledges to expand UAE’s renewables market through easy financing
Dubai, UAE-- With its financing packages for the renewables sector to support the transition to clean and sustainable energy sources,...
Economy
War in Gaza represents serious setback for efforts to reduce tension: Gargash
Manama, Bahrain-- The ongoing war in Gaza represents a serious setback for the efforts to reduce tension in the region...
Geostrategy
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Geostrategy
Bahrain and Thailand seek to boost economic cooperation
Manama, Bahrain-- Bahrain and Thailand have held discussions to enhance economic cooperation in a meeting between top officials of the...
- The two officials took a review of the progress made in the political and economic cooperation between the two kingdoms
- They underscored the resolve of the two countries to consolidate security and peace, and also support sustainable development goals
Economy
Abu Dhabi to host third edition of Investopia summit in February
Abu Dhabi, UAE-- The third edition of the Investopia summit will be held in Abu Dhabi in February next year,...
- The event is expected to be graced by thousands of particpants from around the globe and locally, including investors, government officials, decision-makers, and entrepreneurs
- The minister said that the summit is one of the important projects of the UAE in transitioning towards the new economic model and stimulating investment in future economic sectors
Business
ADSB to make two vessels for ADNOC Logistics & Services
ABU DHABI, UAE - Abu Dhabi Ship Building (ADSB) announced that it is building two 28-meter vessels for ADNOC Logistics...
- The vessels are each powered by two diesel engines coupled with two Z-drive Azimuth thrusters.
- This configuration allows them to achieve a speed of 12 knots and a bollard pull of 60 tons.