SCCI and Thailand look to boost economic cooperation
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry and Thailand have explored ways to boost trade and economic cooperation. In...
Business
COP hosts UAE, Azerbaijan, Brazil pledge stronger climate action
Paris, France--Past and future hosts of the UN climate negotiations the United Arab Emirates, Azerbaijan and Brazil announced Wednesday they would...
Science
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.
Business
Dubai Investment posts profit
Its income for the first nine months of 2023 is US$816m.
- The company reported a net profit of $222.46 million for the nine-month period ended September 30, 2023
- The diversified investment company listed on the DFM said its total assets reached $5.71bn at the end of Q3 2023
Economy
Bahrain and Russia look to boost economic cooperation
Manama, Bahrain-- Bahrain and Russia have held discussions to enhance cooperation in various fields of the two countries' economies. In...
- The Bahraini oil minister spoke highly of the Bahraini-Russian relations and their steady progress across various domains, including in the energy sector
- The Russian official expressed his country’s keenness to further bolster its cooperation with the kingdom in various fields, wishing Bahrain further prosperity
Economy
Iran and Russia diplomats hold discussions on BRICS
Tehran, Iran--Senior Iranian and Russian diplomats held talks in Tehran to discuss the BRICS group and its fields of activities...
- The Iranian sides reiterated the Islamic republic's commitment to playing an "effective and constructive role in it" and resolved to participate in all activities in the grouping
- The Russian delegation enumerated the country's priorities in regard to BRICS during their presidency and presented a briefing on the history and background of the group's actions
Business
Sharjah Civil Aviation Department and WFP sign aviation-safety agreement
Sharjah, UAE--The Sharjah Civil Aviation Department (SCAD) and the United Nations' World Food Programme (WFP) have signed an agreement to...
- The WFP's Regional Aviation Safety Office will hold training sessions, seminars, conferences, and special projects, in order to benefit both parties
- The Sharjah Civil Aviation Department will send qualified lecturers and trainers to conferences, workshops, and other events hosted by the WFP
Business
LNG trade to grow 25% to 500m tons in 5 years: IEF
According to a report "Fragile Equilibrium: LNG Trade Dynamics and Market Risks" China has surged ahead of Japan to become...
- LNG's share of gas demand in Europe rose from 12 percent a decade ago to more than 50 percent
- Faced with the sudden loss of pipeline gas, Europe turned to LNG to fill the void, sending prices up
Business
Dubai Airports expect to cross pre-pandemic passenger numbers in 2023
Dubai, UAE--Dubai Airports is expecting annual passenger traffic at Dubai International (DXB) to touch 86.8 million – surpassing 2019 traffic,...
- It forecasts annual passenger traffic at Dubai International (DXB) to touch 86.8 million, crossing 2019 traffic, propelled by strong growth
- Some 23m passengers passed through the airport in Q3, taking the total traffic for the first nine months of the year to 64.5m passengers
Business
Iran to link up electricity grid with Russia via Azerbaijan
Tehran, Iran-- Iran is linking up its electricity grids with Russia via Azerbaijan in order to make up for its...
- The Iranian minister said feasibility studies for connecting power grids have been conducted through three routes including Georgia, Azerbaijan, and Turkmenistan
- He said the use of electricity in Iran’s industrial sector has exceeded that of the household sector for the first time in the history of the country’s power industry
Business
AD Ports net profit up
It posted a 189% jump in revenue in Q3 to US$1.15bn.
- Its EBITDA rose by 28% YoY to $207 million during the third quarter, largely supported by the acquisition of Noatum and Karachi Gateway Terminal
- The company said that the negative net operating cash flows of $158 million were impacted by a temporary deterioration in working capital
Business
Google warns against downloading its AI model from external sources
Washington, US--Google has warned users against trying to obtain its Cold generative artificial intelligence (AI) model from external sources currently...
- According to Google the download delivers malware to victims, stealing sensitive data and starts from a user's social media accounts
- The company is working on Bard tools to integrate them into many of the different services it provides from search engine to Pixel phones
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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
SCCI and Thailand look to boost economic cooperation
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry and Thailand have explored ways to boost trade and economic cooperation. In...
Business
Company News
Nissan profit drops to US$195m
Business
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ADNOC Drilling to expand fleet
Business
BP to pour US$1.5bn into Egypt oil exploration
It plans to hike investments in the country to US$5 billion.
Business
China’s Guangdong province now boasts of 75,000 high-tech companies
Shenzen, China--The total number of high-tech enterprises in south China's Guangdong Province has exceeded 75,000, local authorities have said. By...
Economy
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Economy
China maintains basic balance in international payments in 2023
Beijing, China--China maintained a basic balance in its international payments last year, with its current account surplus amounting to US$264.2...
- China's foreign-exchange regulator said the ratio of the current account surplus to gross domestic product was 1.5 percent last year
- The administration's data shows the surplus under trade in goods came in at $608bn last year, the second highest level in the history
Business
Qatar real-estate trading volume in January stands at US$521m
Doha, Qatar--The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry...
- According to a bulletin issued by the Ministry of Justice, some 362 real estate transactions were recorded during the month
- The value of Doha municipality's transactions came out at $324 million, as per the real estate market index for January 2024
Business
Aamal net profit up 5.7%
Its gross profit jumped 3.1% to US$137.25m in 2023.
- According to a company's statement. Its gross profit shot up 3.1 percent to $137.25 million.
- Its chairman said the performance of their trading and distribution segment was noteworthy