Geopolitical risks, sanctions keep commodity markets on edge
Istanbul, Turkey--The commodity markets saw supply concerns and rises by optimism from China, despite the negative impact of the Fed's...
Economy
IHC posts net profit of US$8.97bn
Its revenue jumped to US$16.33 billion, a rise of 17.9 percent.
Business
Economy
Wealthy Qataris to spend more on real-estate deals this year: survey
Doha, Qatar-- Rich Qataris are pouring millions of dollars into the country's luxury real-estate market, with residential sector and office...
- Knight Frank, in partnership with YouGov, looked into the investment pattern of rich individuals in Qatar, with a net worth in the region of US$155 million
- The respondents in the survey showed a preference for investment in the residential sector at 37 percent, followed by the office sector at 33 percent
Economy
Abu Dhabi curbs use of plastic bags by 95% since ban last year
Abu Dhabi, UAE-- Abu Dhabi has succeeded in curbing the use of plastic bags by around 95 percent since the...
- Nearly three years back, EAD brought in the single-use plastic policy with the aim of lowering the dependence on plastic items and promoting sustainability and recycling
- According to EAD, the carbon footprint of the amount of plastic eliminated is equivalent to 272, 000 tonnes of CO2, which means saving emission from 629,000 barrels
Geostrategy
Iran hints at cooperation with Saudi Arabia on ‘peaceful nuclear technologies’
Tehran, Iran-- With the restoration of diplomatic ties between Iran and Saudi Arabia, the talk in government circles in Tehran...
- A media outlet thought to be close to the Iranian security establishment tweeted that Iran could expand its relations with Saudi Arabia to the nuclear realm
- The tweet said that Iran could transfer its "experiences and achievements" to Saudi Arabia in compliance with international laws and under the IAEA supervision
SCA to waive off registration fee for listing of green bonds, sukuk in local market
Abu Dhabi, UAE--The Securities and Commodities Authority (SCA) board of birectors has approved a proposal to exempt companies wishing to...
- The SCA's decision corresponds with the UAE's agenda to achieve the objectives of sustainable development in relation to economic growth
- Dr. Sultan bin Ahmed Al Jaber, Minister of Industry, said the world as a whole needs to do more to advance sustainability in the financial space
Economy
UAE, Egypt sign US$10bn deal to build Africa’s biggest wind farm
A consortium of companies, Masdar, Infinity Power and Hassan Allam Utilities have signed an agreement with Egypt to build a...
- The wind farm will enable Egypt meet its strategic objective of sourcing 42 percent of its energy from renewables by 2030
- The project will help Egypt bring down annual carbon emissions by 9 percent, displacing 23.8 million tonnes of carbon dioxide annually
Economy
UAE looks to deepen trade and investment ties with Vietnam
Hanoi, Vietnam-- With an eye on boosting trade and economic ties between the two countries, the UAE has formally begun...
- Al Zeyoudi's visit also marked the start of negotiations towards a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Vietnam
- The UAE minister also spoke at the UAE-Vietnam Business Forum, in addition to meeting with representatives of Vietnamese companies
Business
Airline industry’s net profits to shoot up to US$9.8bn in 2023: IATA
Dubai, UAE-- Airline industry is expected to clock net profits in the region of $9.8 billion in 2023, which is...
- According to IATA, some 4.35 billion people are expected to travel in 2023, which is closing in on the 4.54 billion who flew in 2019 around the globe
- The outlook for cargo volumes is upbeat too, expected to touch 57.8 million tonnes, which slipped below the 61.5 million tonnes carried in 2019
Business
National Bonds ups stake in Taaleem
With a 22% stake, it is now the biggest stakeholder in the firm.
- The raising of the stake in Taaleem represents the largest acquisition of its kind since its listing on the Dubai Financial Market in November 2022
- National Bonds Company CEO said the upping of the stake highlights the company's commitment to supporting the education sector in the UAE
Business
Air Arabia to double fleet
The plan will boost Abu Dhabi's tourism market.
- The airline CEO Adel Al Ali said that since tourism is one of the key pillars of the UAE economy, the doubling of fleet will support the current inbound tourism
- He added that last year some 15.9 million travelers passed through Abu Dhabi, nearly a threefold increase in the number of visitors from 5.26 million in 2021
Geostrategy
Iran calls for expansion of ties between Tehran and Ankara
Tehran, Iran-- Iran has called for expansion of ties between Tehran and Ankara after the victory of the incumbent president...
- The Iranian foreign minister said that Tehran hopes to achieve close cooperation between the two neighbors during Turkish president's new term
- The Turkish foreign minister emphasized continuity in relations between Turkey and Iran, adding that he will do his best to help develop bilateral relations
Geopolitical risks, sanctions keep commodity markets on edge
Istanbul, Turkey--The commodity markets saw supply concerns and rises by optimism from China, despite the negative impact of the Fed's...
Economy
Company News
Latest News
Qatar records 6 percent drop in Industrial Production Index in October
Doha, Qatar-- Qatar has recorded a 9.3 percent drop in the Industrial Production index (IPI) in the month of October...
Economy
Qatar Airways and Asian Football Confederation sign partnership deal
Doha, Qatar--Qatar Airways Group and the Asian Football Confederation (AFC) have signed a global partnership set to transform the fan...
Business
Most Read
Business
ADQ and Azerbaijan’s AIH set up joint-investment platform
Abu Dhabi, UAE--ADQ, an Abu Dhabi-based investment and holding company, and Azerbaijan Investment Holding (AIH), a strategic sovereign wealth fund...
- The joint-investment platform will leverage investment opportunities with the goal of generating sustainable financial returns on deployed capital
- Both the entities will each hold a 50 percent interest in the joint venture, with each party committing US$500 million to the JV platform
Business
ADCB, EIH sign agreement
ADCB to sell 80 percent stake in ADCP to Nine Yards Plus.
- The transaction values ADCP at US$161 million and ADCB will gain of nearly US$133 million subject to closing conditions before end of December 2023.
- ADCB will retain a 20 percent stake in ADCP post transaction and will continue its partnership via a long-term relationship agreement.
Business
Arab Union for International Exhibitions & Conferences approves 2024 plan
Sharjah, UAE--The board of directors of the Arab Union for International Exhibitions Conferences (AUIEC), operating under the Council of Arab...
- AUIEC plan for next year focuses on attracting new memberships in order to expand its network and active participation in union members' activities and events
- The union is set to organise prominent events like the Arab Industries Exhibition in the UAE and Iraq and the Conference of the Exhibition Industry in the Arab World