China records expansion in factory activity for first time in six months
Shenzhen, China--China's manufacturing activity expanded for the first time in six months in March. The official purchasing managers' index (PMI)...
Economy
Business
AD Ports launches Noatum Logistics Middle East
The firm said the new brand will replace MiCCO Logistics.
- The company said customers will be able to leverage Noatum’s global network of 16 terminals and 143 international offices, presence across 67 ports
- The rebranded firm will embark on a rebranding campaign in the next few weeks, which will see its brand reflected across key assets and locations in the region.
Business
Iran and Turkey to set up free trade zone at border in Khoy city
Tehran, Iran--Iran and Turkey will join hands to set up a free trade zone at the border crossing in Khoy...
- The talks to establish the free trade zone were held between Iranian president Ebrahim Raisi and Turkish president Recep Tayyip Erdogan
- An Iranian official said the large-scale investments of the two nations in this free trade zone can rebound the economy at a wider level
Business
SAIF Zone signs MoU with Tokai Optical
The Japanese firm will lease a warehouse in the free zone.
- The leasing of the warehouse marks the first phase of Tokai Optical's expansion in SAIF Zone, representing an investment of around $2.17m
- The firm figures among the top 5 lens manufacturers worldwide and is positioned among the top 3 companies in research and development
Business
Aldrees Petroleum to hike capital by 33%
The company's capital now stands at US$266 milion.
- The company's board took the decision a few days back, expected to enhance its financial robustness and propelling it towards future expansions
- The hike in capitalization has been secured from the retained earnings, reflecting the company's strong financial standing and prudent management
Economy
Egypt’s wheat and oil reserves sufficient for several months, says minister
Cairo, Egypt-- Egypt has enough reserves of wheat to last it for many months, according to Dr. Ali Al-Moselhi, the...
- The minister said that 100 tonnes of sugar have been produced from the cane crop so far, and that preparations are underway to receive the beet crop in mid-March
- The country purchases around five million tonnes of wheat annually from abroad, and subsidised bread is available to more than 70 million of its 104 million population
Business
Qatar and Nepal discuss boosting economic cooperation
Doha, Qatar--Qatar and Nepal have held talks to enhance commercial and economic relations between the two countries, explored the investment...
- The talks are likely to pave way for more cooperation and partnership between the Qatari and Nepalese private sectors
- The Qatar official emphasized the importance of holding trade and business visits between both sides to explore cooperation
Business
JADCO, EGG ink MoU on development of agriculture in Saudi Arabia
RIYADH, SAUDI ARABIA - The Ministry of Environment, Water and Agriculture witnessed the signing of a memorandum of understanding (MoU)...
- The agreement involves the transfer and localization of potato seed production techniques in the Kingdom.
- The aim of the collaboration is to support the transformation of local companies into industrial agricultural entities.
Business
Global Islamic finance market to touch US$4.9trn in 2025, says Malaysian official
Hong Kong-- The global Islamic finance market would touch US$4.9 trillion by 2025, according to Yazrin Syakhairi, Malaysian Trade Commissioner...
- The official said the Islamic finance market is seeing significant and rapid growth worldwide, surpassing the size of US$2.2 trillion in 2022
- He said the Islamic finance industry has seen a noticeable growth in the Middle East and the Association of Southeast Asian Nations (ASEAN)
Business
UAE, Malaysia sign MoU to enhance ties in digital-infrastructure sector
Abu Dhabi, UAE-- The UAE and Malaysia have signed a memorandum of understanding (MoU) to boost investment cooperation in the...
- The agreement envisages setting up collaboration by developing bilateral relationships between public and private organisations
- The trade ties between the UAE and Malaysia have climbed up, with non-oil trade volume surpassing $2.22bn in H1 of 2023
Business
UAE-Hong Kong non-oil foreign trade surges to US$16.23 billion
Hong Kong--Non-oil foreign trade value between the UAE and Hong Kong expanded in the past year, reaching $16.2 billion in...
- The Hong Kong official said that the non-oil foreign trade value grew between the UAE and Hong Kong in the past year, reaching $16.2 billion in 2023
- He said the Hong Kong companies are keen to invest in the UAE in sectors such as infrastructure, information technology, financial technology and health technology
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China records expansion in factory activity for first time in six months
Shenzhen, China--China's manufacturing activity expanded for the first time in six months in March. The official purchasing managers' index (PMI)...
Economy
Company News
Latest News
UAE and Greece hold talks to widen economic cooperation
Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues...
Economy
A greener globe requires a greener industry, says Chinese industry leader
Beijing, China-- A greener globe requires a greener energy industry, which could definitely be represented by new quality productive forces...
Economy
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Economy
Qatar and Estonia sign agreement to avoid double taxation
Doha, Qatar--Qatar and Estonia have signed an agreement to avoid double taxation and prevent income tax evasion. The agreement was...
- Qatar's finance minister said the agreement would contribute to supporting international standards of transparency through the exchange of information
- It will enable both countries to come down hard on tax evasion, ensure justice and equality in the treatment of individuals, in addition to enhancing trade cooperation
Business
Binghatti lists sukuk on Nasdaq Dubai
The debut issue of the company is valued at US$300m.
- The company's listing sets a new standard as the first real estate benchmark USD-denominated sukuk from MENA in 2024
- Nasdaq Dubai has maintained its position as a leading exchange for fixed income listings across the MENA region
Economy
UAE ministry of defense, Masdar to set up solar plants in Abu Dhabi
Abu Dhabi, UAE--The UAE Ministry of Defence and Masdar have signed an agreement to develop multi-solar plants across Abu Dhabi....
- The project will be designed, maintained and funded by Emerge, a joint venture between the UAE’s Masdar and France’s EDF Group
- Dr Sultan Al Jaber said at the signing of the agreement that the UAE will continue leading by example as it advances its net zero initiative