Qatar and Egypt hold talks to ramp up civil aviation cooperation
Cairo, Egypt-- Qatar and Egypt have discussed enhancing ties in the field of civil aviation between the two countries.In this...
Business
Business
QIIB profit climbs 7.7 percent
Its net profit for H1 of 2023 jumped to US$169 million.
- The bank's earnings per share (EPS) amounted to QR 0.41 as of June 30, 2023 versus EPS QR 0.38 for the same period in 2022.
- Chairman of QIIB's board of directors said that the results posted by the bank are in harmony with the strength of the Qatari economy
Economy
Qatar Free Zones Authority, Qatar Development Bank to support foreign investors
Doha, Qatar-- The Qatar Free Zones Authority has joined hands with Qatar Development Bank to support foreign investors and firms...
- The agreement will enable both to widen the areas of cooperation to serve companies investing in free zones, allowing them to use a variety of services
- The partnership is expected to create a suitable investment climate in Qatar and at the same time provide support to investors to achieve growth in businesses
Business
Sharjah Sustainable City sales surge
The sales in H1 of 2023 climbed on the back of high demand.
- The sales were seen to be driven by a deep understanding of the UAE real estate market, offering residents a unique and exclusive experience
- Sharjah Sustainable City offers the best of both worlds to customers with unique designs, spacious layouts, and cutting-edge smart home technologies
Economy
Jordan and Iraqi PMs renew pledge to boost economic ties
Baghdad, Iraq-- Jordan and Iraq have renewed pledge to strengthen economic cooperation in a meeting between the kingdom's Prime Minister...
- The two prime ministers resolved to boost volume of trade exchange, expanding cooperation in the economic, trade and investment fields
- They also lay stress on ramping up cooperation in the field of energy, completion of the electrical interconnection project between the two countries
Business
KNPC exports first shipment of 95 octane motor fuel to Europe
Kuwait City, Kuwait--The Kuwait National Petroleum Company (KNPC) has exported the first shipment of 95 octane motor fuel and low-sulfur...
- The deputy CEO of the company said that the first shipment was loaded on board the oil tanker Pacific Sarah from Mina Al-Ahmadi
- He said the shipment was dispatched in close cooperation and coordination with Kuwait Petroleum Corporation's international marketing sector
Economy
COP28 urges governments to make ‘food systems’ central to climate change
Dubai, UAE-- Calling on governments around the world to demonstrate leadership by signing the "Leaders Declaration on Food Systems, Agriculture...
- The presidency exhorted stakeholders in the food and agriculture sectors to speed up existing initiatives across food systems, agriculture, and climate action
- It also pleaded for action to ramp up innovation in the sectors in order to drive both development and climate action, leveraging mechanisms
Business
Saudia Cargo signs deal with Jan de Rijk
It will enable Saudia Cargo to widen network in Europe.
- As per the terms of the deal, Saudia Cargo will use Jan de Rijk's extensive trucking network to shore up its operations in Europe
- Set up in 1971, Jan de Rijk Co, is a leading provider of European transportation, distribution services, and supply chain management solutions
Business
Abu Dhabi Maritime signs MoU with ADNOC Distribution
It seeks to enhance emirate's coastal and marine locations.
- The agreement between the two underscores the ongoing effort to strengthen Abu Dhabi's maritime sector
- Director-General of Operational Affairs at the DMT said that "together, we will unlock the untapped potential of our shores"
Economy
Jordan and Algeria look to ramp up trade, parliamentary ties
Amman, Jordan--Jordan and Algeria are looking to boost trade and parliamentary relations to further enhance bilateral ties between the two...
- The head of the Jordanian-Algerian Parliamentary Committee and Algerian ambassador discussed boosting of ties between the two countries
- The ambassador reiterated her country's commitment to improving ties with the kingdom, adding that a tax-free customs zone will be set up in the near future
Economy
Ruwad approves financing for several projects in various sectors
Sharjah, UAE-- Ruwad, or the Sharjah Foundation to Support Pioneering Entrepreneurs (Ruwad), has approved the financing of three projects after...
- In the second quarter of this year, Ruwad received some 102 application from projects for the Ruwad membership, of which 66 were approved
- According to Ruwad, the food sector stood at top of the list that secured the membership during the second quarter of 2023
Qatar and Egypt hold talks to ramp up civil aviation cooperation
Cairo, Egypt-- Qatar and Egypt have discussed enhancing ties in the field of civil aviation between the two countries.In this...
Business
Company News
Silal and MBZUAI sign MoU
Business
Latest News
Qatar PMI data reveals ‘stable business conditions’ in non-energy sector
Doha, Qatar--Qatar's non-energy private sector registered broadly stable business conditions in December, the latest Purchasing Managers Index (PMI) survey data...
Economy
Shanghai to build 200 smart factories to shore up its manufacturing status
Shanghai, China--Shanghai plans to build 200 new smart factories and 20 demonstration sites by end of 2025 after 70 intelligent...
Business
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Business
AD Ports to build passenger terminals at Egyptian Red Sea ports
Cairo, Egypt--AD Ports Group (AD Ports) has signed a contract with Egypt to build, develop, operate and maintain terminals for...
- According to the Egyptian ministry of transport, the contract entails AD Ports Group to develop yacht and cruise-ship tourism in Egypt
- The cruise lines will be operated between Zayed Port and Safaga, Hurghada and Sharm El-Sheikh and, later, Arabian Gulf ports, and Europe
Business
Alba sets new production record
It produced 1,620,665 metric tonnes of aluminium in 2023.
- The CEO of Alba said that the company was not just celebrating numbers but the human capital behind "such achievement"
- He expressed his gratitude to the chairman of the board and also members of the board for their support during 2023
Business
Abu Dhabi Islamic Bank adopts AI
The bank expects to enhance operations with AI tools.
- The bank seeks to leverage technology in order to increase productivity and efficiency in code generation and error identification
- The bank says GitHub Copilot will help empower IT teams to streamline their workflows by harnessing the artificial intelligence