Low-pressure system eases over UAE: Dubai Airport delays remain
The Ministry of Interior has announced the end of the low-pressure weather system that wreaked havoc for many Dubai International...
Economy
Central Bank of Bahrain Sukuk Al Ijara oversubscribed by 186 percent
Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al...
Business
Business
Ooredoo partners with Dropbox
It will enable customers to access Dropbox's tools.
- The partnership will enable business customers across Ooredoo’s markets to access Dropbox’s fast, secure, and reliable syncing and collaboration software
- Ooredoo CEO said the partnership with Dropbox underlines the company's commitment to deliver comprehensive digital solutions for their business customers
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
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
Economy
European tourists make a beeline for Sharjah as 400,000 visit in 2023
Sharjah, UAE-- Nearly 400,000 visitors from Europe have traveled to Sharjah during last year, marking a notable 28 percent increase...
- Sharjah is showcasing its unique locations at a travel-trade show in Berlin, seeking to entice more Europeans to the emirate
- Tourism officials from Sharjah held meetings with investors and business leaders interested in the tourism and trade sectors
Economy
Dubai Chambers, DP World partner to lure global investment to the emirate
Dubai, UAE--Dubai Chambers has signed a memorandum of understanding (MoU) with DP World to enable the chambers to leverage DP...
- The MoU corresponds with the goals of Dubai Global Initiative, aiming to establish offices around the world to attract foreign direct investment
- The Dubai Global initiative is led by Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers
Economy
Qatar Central Bank head calls for enhanced GCC action to tackle challenges
Doha, Qatar--Governor of Qatar Central Bank Sheikh Bandar bin Mohammed bin Saoud Al-Thani has called for strengthening joint action among...
- Al-Thani exhorted the GCC to boost efforts to fight off financial challenges in relation to growth, sustainable development, financial stability, and interest rate
- He applauded the GCC for great achievements registered during the last few years, which contributed to the advancement and prosperity of the region
Business
FAB shareholders approve dividend
The 50% cash dividend would be to the tune of US$2.12bn.
- The annual meeting commended the bank's three consecutive years of accelerated business momentum, and its strong platform for future growth
- The bank's CEO said that FAB achieved a record net profit of $4.46bn and $7.56bn in revenue in 2023, fueled by growth across all core businesses
Business
ADNOC partners with Viola Communications
They will utilize outdoor media-leasing spaces for advertising.
- Viola will set up and operate outdoor media advertising solutions on ADNOC assets in strategic locations across the capital
- The company's diverse assets are expected to boost the local business ecosystem and introduce innovative revenue streams
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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
Low-pressure system eases over UAE: Dubai Airport delays remain
The Ministry of Interior has announced the end of the low-pressure weather system that wreaked havoc for many Dubai International...
Economy
Company News
Investcorp Capital names new CFO
Business
Latest News
Investcorp Capital names new CFO
Rohit Nanda, the new CFO, will take up his new job next month.
Business
Lapita sees surge in leisure and wedding bookings in 2023
Dubai, UAE--Lapita, Dubai Parks and Resorts, has reported a surge in demand, bookings from across leisure and corporate segment last...
Business
Qatar looks to boost tourism sector by streamlining regulations
Doha, Qatar-- Qatar is looking to develop "plans and strategies" to streamline procedures and regulations in order to solve solve...
Business
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Business
Middle East to receive millions of Chinese tourists lost in Covid pandemic
Dubai, UAE-- Outbound travel from China is estimated to almost double this year, compared with 2023 and will only be...
- The Middle East will be the first region globally to recover its Chinese inbound market with full recovery expected in 2025
- According to data from the Chinese travel site Trip.com, bookings for overseas travel during Chinese New Year, soared by 540%
Economy
Jordan oil imports decline in January, boosting trade balance
Amman, Jordan--Jordan's import bill for crude oil, derivatives, and mineral oils saw a notable decline in January this year, according...
- According to the Department of Statistics, there was a decrease in the value of oil imports, totaling $361m for January, compared to $427.36m the last year
- The fall had a positive impact on Jordan's trade balance, with the overall value of imports declining by 19.7% in January compared to the previous year
Business
Alibaba Cloud opens training center in Dubai
It will be a hub for customers to lift up "digital competence."
- The training centre will empower Alibaba Cloud’s ecosystem partners and customers through delivering training, workshops, and certifications
- The program corresponds with the Dubai Economic Agenda D33's goal to double Dubai's economy through digital transformation contributions