Ireland wants to be a gateway for UAE, Gulf states to EU market: Irish minister
Abu Dhabi, UAE--Ireland wants to become a gateway for the UAE and other Gulf states to the European Union (EU)...
Economy
Economy
Emiratis make up 74% of Federal Authority for Nuclear Regulation workforce
Abu Dhabi, UAE-- In 2022, Emiratis represented 74% of the Federal Authority for Nuclear Regulation (FANR) 248 employees. FANR continues...
- According to FANR 2022 annual report, the body continues to attract talented Emiratis to meet its business needs, recruiting 22 citizens during the review period
- The report said that women comprise of more than 45 percent of FANR's overall workforce and hold leadership positions in key areas of the organisation
Business
Nakilat profit up 6.1%
The Qatari gas firm's net profit rose to US$213m in H1 of 2023.
- Its earnings per share (EPS) rose to QR 0.014 as of 30th June 2023 versus earnings per share (EPS) QR 0.14 for the same period in 2022
- Early this year it obtained the approval to raise the ceiling for non-Qatari ownership in the company’s capital to 100 percent
Economy
Global trade in goods, services worth US$31trn in 2022: WTO
Dubai, UAE--Trade in goods and services amounted to US$ 31 trillion in 2022, a 13% rise year-on-year. According to the...
- In 2022, China retained the top position as the top merchandise exporter, but its share fell to 14 percent from 15 percent
- Exports of fuel and mining products recorded a 19 percent increase per year between 2019 and 2022, touching US5,158 billion in 2022
Business
Agthia Group profit vaults 6.6%
The net profit rose to US$39.21m in H1 of 2023.
- The company's revenue jumped 10.3 percent to $600 million, reflecting a strong volume and value performance from dates
- EBITDA growth was ahead of revenue, up 18.3% year-on-year to $87m, reflecting strong growth in profitability across snacking and water
Economy
UAE president and Jordan’s king renew resolve to boost ties
The talks between Sheikh Mohamed bin Zayed and King Abdullah focused on ways to ramp up cooperation across key strategic...
- The meeting between the UAE president and Jordan's king took place at Basman Palace in Amman during the president's official visit to Jordan
- The two leaders discussed various aspects of UAE-Jordan cooperation and opportunities to build on the deep, historic ties between both nations
Business
TECOM Group profit soars 13%
Its net profit vaulted to US$132 million in the first half of 2023.
- The company also recorded a 6 percent year-on-year (YoY) increase in revenue to $285 million
- EBITDA increased by 14% YoY to $225 million, mainly driven by improved revenue quality
Geostrategy
Saudi Arabia and Indonesia discuss defense and military cooperation
Jakarta, Indonesia-- Saudi Arabia and Indonesia have discussed defense and military cooperation in a meeting between Indonesian Minister of Defense...
- The two ministers discussed bilateral relations and military and defense cooperation, as well as other issues of common concern
- The Saudi defense minister also met with heads of Indonesian defense companies who presented their latests defense products
Economy
Jordan and Cyprus to deepen energy, trade, tourism ties
Amman, Jordan-- Jordan and Cyprus are looking to boost cooperation in energy, trade, industry and tourism sectors in order to...
- Jordan's king and Cyprus president met at Al Husseiniya Palace, and discussed enhancing cooperation in various fields
- The king underscored the need to strengthen bilateral relations and cooperation, especially in energy, trade, industry, tourism
Economy
Jordan sees surge of investments to US$844.8m in first half of 2023
Amman, Jordan--Jordan’s economy has seen a 47.6 percent increase in investments in the first half of 2023, according to data...
- According to data, Jordan's aggregate investments amounted to $844.8 million in the first six months of the year, up from $571 million
- The results come close on the heels of the government's initiative to set up a plan to lure new funding streams and boost current ones
Business
Inma Holding profit tumbles
Its net profit fell 53.8% in H1 of 2023 to US$0.92m.
- Its earnings per share(EPS) declined to reach QR 0.059 as of 30th June 2023 versus EPS QR 0.128 for the same period in 2023
- The company posted a 61.7% jump in net profit in 2022, reaching $2.69 million in comparison to a net profit of $1.67 million
Ireland wants to be a gateway for UAE, Gulf states to EU market: Irish minister
Abu Dhabi, UAE--Ireland wants to become a gateway for the UAE and other Gulf states to the European Union (EU)...
Economy
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ADCB, EIH sign agreement
Business
ADX signs MoU with SZSE
Business
Global air travel reaches 99% of 2019 levels: IATA
IATA’s Director-General Willie Walsh said that international travel is 5.5% below pre-pandemic levels, but that gap is narrowing fast. "And...
Business
UAE and India sign MoUs to deepen ties in renewable energy, healthcare
Abu Dhabi, UAE--The UAE Ministry of Investment has signed three memorandums of understanding (MoUs) with India, setting out frameworks for...
Business
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Business
Dubai’s RERA signs MoU with Zand Digital Bank
Dubai, UAE--The Real Estate Regulatory Agency (RERA), the regulatory arm of Dubai Land Department (DLD), signed a memorandum of understanding...
- The bank has been authorized by DLD to oversee real estate development escrow accounts and offer associated services
- The chief aim of the escrow account is to streamline the construction process for off-plan units, safeguarding the interests of investors
Business
Aldar to invest US$272m in logistics
The developer will expand business in Dubai, Abu Dhabi.
- It will acquire assets and develop ready-to-lease and build-to-suit options in response to strong demand for grade A logistics facilities
- In Dubai, Aldar has bought 7 central logistics hubs and an adjacent plot, which will almost double the current gross leasable area of 19,000 sqm
Geostrategy
GCC head and EU top diplomat review relations in Riyadh
Riyadh, Saudi Arabia--Jasem Mohamed Al Budaiwi, Secretary General of the Gulf Cooperation Council (GCC), and Josep Borrell, High Representative of...
- The two discussed the latest developments in regional and international arenas, including the Israeli war on the Gaza Strip
- Al Budaiwi noted the importance of collaboration and unity in efforts to halt the continuous Israeli attacks against Gaza