Expo Centre Sharjah gives peek into its plan to attract new exhibitors
Sharjah, UAE--Expo Centre Sharjah (ECS) has unveiled its future projects and forthcoming initiatives to develop and enhance the exhibitions sector...
Business
UAE and Kenya sign agreement to enhance digital, tech cooperation
Abu Dhabi, UAE--The UAE and Kenya have signed an investment memorandum establishing a framework for investment cooperation in digitalisation and...
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
Geostrategy
Bahrain and South Korea seek to bolster economic, parliamentary ties
Manama, Bahrain--Bahrain and South Korea have reviewed ways to enhance diplomatic, economic and parliamentary cooperation and partnership to benefit the...
- The two sides looked to boost partnership in order to benefit the two countries and contribute to consolidating security, stability, economic growth in the MENA region
- The South Korean official underscored the deep friendship between the two countries, noting the steady growth of bilateral ties at the political, economic, and parliamentary level
Business
DMCC launches global trade roadshow in London to attract FDI from UK
Dubai, UAE--DMCC has kicked off the ninth edition of its global trade roadshow, Made For Trade Live, in London, seeking...
- During the four quarters to the end of Q2 2023, the UAE-UK bilateral trade grew 47.3% year-on-year to reach $32.40 billion
- In 2023, more than 200 British companies joined DMCC’s business district alone, representing a 10% year-on-year growth
Business
Gulf Warehousing Company profit down
Its net profit fell 10.24% to US$59.07 million in 2023.
- Its earnings per share (EPS) decreased to QR 0.37 in 2023 compared to EPS of QR 0.41 in the previous year, the company said
- Its board of directors ratified the distribution of dividends of QR 0.11 at a rate of 11 percent per share for the year 2023
Business
ADIB records 45% jump in net profit
Its revenue climbed 36 percent to US$2.53 billion in 2023.
- The bank in a statement said that Its net profit for Q4 2023 jumped to $408 million, an increase of 29 percent as against Q4 of 2022
- The Abu Dhabi-based bank said that its revenue for 2023 improved by 36 percent to $2.53 billion compared to $1.85 billion last year
Business
Dubai Customs records 30.4m transactions in 2023, posting 17.5% growth
Dubai, UAE--Dubai Customs has successfully processed more than 30.4 million customs transactions during the entire year of 2023. This set...
- The figures for 2023 have set a new record for the highest number of customs transactions by Dubai Customs, showcasing a 17.5% growth
- The new accomplishment has resulted from the ongoing success of the Comprehensive Economic Partnership Agreements program
Economy
Abu Dhabi establishes Artificial Intelligence and Advanced Technology Council
Abu Dhabi, UAE-- The UAE President Sheikh Mohamed bin Zayed Al Nahyan has issued a law, as the ruler of...
- The council has been set up to develop policies and strategies related to research, infrastructure and investments in AI in Abu Dhabi
- It will formulate plans in collaboration with local and global partners to enhance Abu Dhabi's status in the fields of artificial intelligence
Business
Bahrain and GCC look to boost ‘convention, exhibition’ industry
Manama, Bahrain-- Bahrain and the Gulf Cooperation Council (GCC) are looking to boost cooperation in the convention and conference industry...
- The Bahrani minister spoke of the kingdom's resolve to continue developing the exhibitions' sector by providing it with facilities
- The two sides discussed establishing more major international events and exhibitions across the cities of the GCC countries
Business
IPT Energy floats new firm in Sharjah
It will engage in the import and trading of oil products.
- The new company will be involved in the import and trading of refined oil products, petrochemicals, lubricants, and grease
- It has invested $11m as first stage investment in the emirate and plans to double this investment to $22 million by 2025-26
Expo Centre Sharjah gives peek into its plan to attract new exhibitors
Sharjah, UAE--Expo Centre Sharjah (ECS) has unveiled its future projects and forthcoming initiatives to develop and enhance the exhibitions sector...
Business
Company News
Latest News
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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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
Business
Saudi tech show LEAP 2024 to close on ‘record-breaking’ note
Riyadh, Saudi Arabia--The biggest tech show in the Middle East, LEAP 2024, hosted by Saudi Arabia in Riyadh, is preparing...
- The tech show featured hundreds of speakers, more than 600 startups, besides 170,000 participants from around 180 countries
- HONOR, Chinese consumer electronics brand, announced regional expansion plans with an investment of US$100 million