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
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
Business
Oman looks to entice investors at Dhahran Expo to its fishing industry
Muscat, Oman-- Looking to entice investors to the country's fisheries sector, Fisheries Development Oman (FDO) is taking part in Saudi...
- The Omani delegation to the event will showcase investment prospect in the country in areas such as aquaculture, commercial fishing, management of fishing posts
- FDO was set up to develop the fisheries industry in the country by investing in profitable projects that could highlight its economic value to investor
Economy
SEWA concludes extension of ‘crucial’ pipeline to supply fresh water
Sharjah, UAE-- In order to supply water from Al Zubair station to Al Shanouf suburb, Sharjah Electricity Water and Gas...
- Started in July 2022, SEWA employed environmentally-friendly materials to ensure water quality, while catering to the growing demand for freshwater
- Residents in Mahdub, Hadibah, and the new sections of Al Shanouf suburb will now have a sustainable supply of fresh and pure water
Business
AD Ports signs deal with Crystal Offshore to develop repair facilities
Abu Dhabi, UAE--AD Ports Group has signed a 25-year agreement with the Singapore-based company Crystal Offshore, a recognised one-stop logistics...
- As per the deal, Crystal Offshore will construct a base, featuring office facilities and fabrication workshops to provide advanced repairs and refits to jack-up rigs
- According to AD Ports Group, the partnership will add significant value to Khalifa Port's customers and furthermore will expand the many services it offers
Economy
UAE’s FTA launches ‘platform’ to educate taxpayers on corporate tax
Abu Dhabi, UAE--The Federal Tax Authority (FTA) has launched what it dubs as a ‘Corporate Tax Virtual Workshops’ awareness platform,...
- The platform will feature educational materials, including 13 virtual awareness workshops in both Arabic and English about ‘registration for corporate tax’
- The FTA has appealed to both private and public joint stock companies resident in the UAE to participate in the awareness workshops
Business
QatarEnergy signs production sharing contract for Agua-Marinha block in Brazil
Doha, Qatar--QatarEnergy, and its joint-venture partners TotalEnergies, Petrobras, and PETRONAS Petroleo Brasil Ltda. (PPBL) has signed the production sharing contract...
- According to a statement, QatarEnergy will hold a 20% working interest, alongside TotalEnergies (30%) Petrobras (operator, 30%), and PPBL (20%)
- The President and CEO of QatarEnergy Saad Sherida Al Kaabi said the signing builds on QatarEnergy's sizable upstream presence in Brazil
Economy
Qatar Chamber explores business opportunities with Turkey’s businessmen
Doha, Qatar-- Qatar Chamber and Turkish officials from the Trabzon Chamber of Commerce and Industry (TCCI) and the Manisa Chamber...
- The discussion between the two touched upon cooperation between chambers in Qatar and Turkey, the investment climate and the opportunities in both countries
- Qatar Chamber emphasized Qatari investors' desire to get acquainted with the investment opportunities available in Turkey in various sectors
Economy
Global Research Council re-elects Saudi Arabia as MENA region chair
Riyadh, Saudi Arabia--Saudi Arabia has been re-elected to represent the MENA region on the board of the Global Research Council...
- Dr. Munir Eldesouki's re-election to represent Saudi Arabia at the GRC reaffirms the kingdom's prominent position in the scientific and research fields
- Saudi Arabia has played a key role in the GRC's work since its founding in 2012, including boosting cooperation between research funding institutions
Economy
EDB inks MoU with ADDED to enhance support for Financial Support Program
Abu Dhabi, UAE--Emirates Development Bank (EDB) has signed a memorandum of understanding (MoU) with the Abu Dhabi Department of Economic...
- The financing program aims to help Abu Dhabi-based companies to receive finance offers from a range of banks all at once
- Emirates Development Bank can, according to its mandate, provide $8.16 billion in financing support to 13,500 companies by 2026
Business
EU bicycle exports surged to US$1.1bn in 2022
BRUSSELS, BELGIUM - The EU exported US$1.1 billion (€1.1 billion) worth of bicycles in 2022 (both electric and non-electric, a...
- The EU exported 365,000 electric bicycles and imported 1.2 million in 2022 while the imports were worth US$2.6 billion.
- The overall increase in the trade of bicycles can be attributed to an increase in the export and import of electric bicycles.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
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
Dubai Investment posts profit
Business
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
Qatar receives more than 3-million tourists in 2023
Doha, Qatar-- Qatar received more than three million tourists from around the world during the ongoing year, making the oil-rich...
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...
Business
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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
Geostrategy
Saudi, Iran top diplomats discuss bilateral ties, Gaza ceasefire
Tehran, Iran-- Saudi Arabia and Iran's foreign ministers have stressed the need for an immediate ceasefire in Gaza and sending...
- The two foreign ministers met in Geneva, discussed bilateral ties between the two countries, and the latest developments in Gaza
- The Saudi foreign minister said there is a positive trend in bilateral relations and "we welcome the development of relations"
Business
ADX signs MoU with SZSE
The agreement will bolster cross-border ETF cooperation.
- ADX is looking to enhance ties with with leading global financial institutions, including the recent agreement with the New York Stock Exchange
- The agreement between the two bourses is set to provide a robust platform for financial growth and connectivity between the UAE and China