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....
Economy
Business
Zain Group profit jumps 14%
Its net profit for Q2of 2023 rose to US$187m.
- The company during the period also received a first-ever cash dividend of $42 million from Zain KSA
- For H1 the group generated consolidated revenue of $3.03 billion, an increase of 12% YoY
Business
ADQ ties up with Dutch firm to set up greenhouse at AgTech Park in KEZAD
Abu Dhabi, UAE-- In a boost to the UAE's effort to secure self-sufficiency in the food sector, ADQ has partnered...
- The facility operating under a cooling system that reduces carbon and water footprint will enable the year-round cultivation of tomatoes and cucumbers
- The Dutch firm's experts will work with local agronomists to encourage the development of technology adapted to the local climate and growing conditions
Business
QEWC reports 12% profit jump
The Qatari company's net profit for H1 stands at US$211.26m.
- The company's earnings per share (EPS) amounted to QR 0.70 as of 30th June 2023, as against QR 0.62 for the same period in 2022
- According to a company statement, its revenue stood at $379 million compared to $329.67 million during the same period in 2022
Business
Dlala posts net loss in H1
The company suffered a net loss of US$0.79 million.
- The company said its loss per share amounted to QR 0.015 as of June 30, 2023 compared to earnings per share(EPS) QR 0.018 for 2022
- In October last year, the Qatar Stock Exchange (QSE) announced the resumption of trading of the shares of Dlala Holding Company
Economy
Dubai Taxi Corporation unveils digital transformation plan 2022-2025
Dubai, UAE--Dubai Taxi Corporation (DTC) has launched its strategic plan for digital transformation 2022-2025 designed to improve the quality of...
- The plan aims to achieve a string of goals underscored by digital mobility, excellent operation, financial sustainability, people’s happiness, and shaping the future
- The latest initiative by Dubai Taxi Corporation looks to protect its database and monitor systems to prevent disruptions caused by server downtime
Business
Milaha posts marginal profit in H1
Its net profit jumped 1.1 percent to US$178 million.
- Its earnings per share (EPS) amounted to QR 0.57 as of 30th June 2023 as against earnings per share (EPS) of QR 0.56 for the same period in 2022
- The company's net profit in 2022 climbed to $278 million in comparison to a net profit of $199 million for the same period of the previous year
Business
Oman’s natural gas production climbs up 2.3 percent at June end
Muscat, Oman-- Oman's total domestic production of natural gas shot up 2.3 percent to 26.19 billion cubic meters (CBM) until...
- According to the National Center for Statistics and Information (NCSI), industrial projects accounted for 58.7 percent of the natural gas use at 15.39 billion cubic meters
- Data showed that the total use of natural gas for oil fields amounted to 6.76 billion cubic meters, power plants at 3.89 and industrial areas at 131.50 million cubic meters
Geostrategy
Saudi-hosted talks on Ukraine war end with resolve to continue efforts for peace
Jeddah, Saudi Arabia-- More than 40 representatives of countries from around the world gathered in Jeddah, pledging to continue holding...
- More than 40 representatives of countries from around the world agreed on the importance of contuining consultations that could pave way for peace in Ukraine
- The Jeddah talks were part of the effort initiated by the Crown Prince, Prime Minister Mohammad bin Salman bin Abdulaziz Al-Saud since March 2022 to resolve the conflict
Business
To boost tourism, Saudi Arabia expands visitor e-visa to eight more countries
Riyadh, Saudi Arabia-- Looking to boost leisure, business and religious travel to the kingdom, Saudi Arabia will grant visitor e-visa...
- The kingdom's visitor e-visa is valid for an entire year, grants multiple entries, and permits a stay of up to 90 days
- The oil-rich country has seen rapid growth in tourism due to its visa initiatives, which now include 57 nations
Business
Jordan-Egypt trade expands to US$355.43m in first five months of 2023
Amman, Jordan--Trade between Jordan and Egypt expanded to $355.43 million in the January-May period of the current year, according to...
- The exports to Egypt however showed a decline in the five month period, falling to $63.46 million as against $93 million for the same period last year
- There was a fall in the imports from Egypt to Jordan too, declining to $292 million by the end of May, as compared to $333 million last year
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....
Economy
Company News
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Saudi EVIQ unveils R&D facility
Business
Qatar Chamber and CzechTrade look to boost trade cooperation
Doha, Qatar--Qatar and Czech Republic are looking to ramp up trade and investment cooperation between the two countries. In this...
Business
DEWA unveils new distribution substations
It commissioned 1,414 substations of 11kv in Dubai.
Business
BRICS to launch bonds worth US$28bn in local currencies
Tehran, Iran-- BRICS is preparing to launch new bonds in global markets, which will be available in local currencies rather...
Business
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Geostrategy
Saudi Arabia launches documentary Horizon on wildlife Â
RIYADH, SAUDI ARABIA - Konoz, an initiative of the Ministry of Media's Center for Government Communication (CGC), has released a...
- The documentary is currently being shown on the Netflix platform.
- The film gives a look at the ecological diversity of the Kingdom,
Business
Sharjah, Sfax chambers look to boost ties between UAE and Tunisia
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and the Chamber of Commerce and Industry of Sfax, Tunisia, held...
- The talks centered upon holding joint events and improving coordination to encourage businessmen to participate in exhibitions
- The Sharjah Chamber received an invitation from the Tunisian side to participate in an exhibition at the Sfax International Fair
Business
UAE and Costa Rica conclude talks on signing CEPA
Dubai, UAE-- The UAE and Costa Rica have concluded negotiations to sign a comprehensive economic partnership agreement. In this connection,...
- The two countries will eliminate tariffs, reduce barriers to trade, promote private-sector collaboration and create pathways for investment
- Non-oil trade between the UAE and Costa Rica has been growing consistently year-on-year, climbing 23% in 2022 to reach US$60.4 million