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...
Economy
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
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
Economy
UAE’s real estate market remains strong in the first half of 2023: CBRE
Dubai, UAE--The UAE's real estate market has recorded a strong performance across all sectors in the first half of the...
- According to the CBRE report, the sector has benefitted from an expansion in the country's non-oil economy
- The report added that industrial and logistics sector has seen relatively strong levels of activity during the period
Economy
In Asia expansion push, Masdar to develop 2GW clean energy in Malaysia
Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) and Citaglobal Berhad have signed a memorandum of understanding (MoU) for developing...
- The two companies will join hands to build projects across the renewable energy mix in the picturesque Malaysian state of Pahang
- Masdar sees Southeast Asia as a key investment destination, where it has already built the region's biggest floating solar facility in Indonesia
Economy
Oman inflation spikes 2.8% in 2022, pushing up food prices
Muscat, Oman-- Oman's inflation rate increased by 2.8 percent in 2022 as the consumers price index (CPI) registered 109.7 points...
- Food and non-alcoholic beverages prices went up by 5.2 percent, and housing, water, electricity, gas and other fuels also rose 1.1 percent
- The steepest increase was in the prices of oil and gas products, registering a growth of 44.1 percent, with non-oil products rising 3.8 percent
Business
KPC posts bumper profits
The oil firm and its subsidiaries posted a net profit of US$8.4bn.
- The oil company's CEO Sheikh Nawaf Saud Al-Sabah said that the profits were the highest in the past ten years
- He added that results were driven by the country's success in running new projects that raised output of crude oil
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...
Economy
Company News
Nissan to export EVs globally
Business
Latest News
ADCB, EIH sign agreement
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,...
Business
Federal Tax Authority, Etihad Credit Bureau tie up to boost tax compliance
Dubai, UAE--The Federal Tax Authority (FTA) has signed an agreement with Etihad Credit Bureau to enhance tax compliance in the...
Business
UAE, Saudi Arabia lift up Arab stock markets, post US$493bn in gains in 2023
Abu Dhabi, UAE-- Stock markets across the Middle East posted record highs in 2023, with combined gains of $493 billion,...
Business
Most Read
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...
- In November 2023, the total traffic rose 29.7 percent compared to November 2022
- Middle Eastern airlines saw an 18.6 percent traffic rise in November
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...
- Trade between the UAE and India touched $84.5 billion between April 2022 and March 2023, and is expected to reach $100 billion by 2027
- The MoU in the renewable energy focuses on forging effective collaboration by building relationships between public and private organizations
Geostrategy
UAE and Azerbaijan presidents pledge to boost ties
Baku, Azerbaijan-- The UAE and Azerbaijan have discussed ways to enhance cooperation in renewable energy, environmental protection, culture, education, and...
- The two countries resolved to ramp up ties in economics, development, renewable energy, environmental protection, culture, education, and other areas
- The meeting between the two presidents also addressed the upcoming UN Climate Change Conference (COP29) to be hosted by Azerbaijan this year