Commercial vehicle sales in China soar 79.6% in January
Beijing, China--China's commercial vehicle sales soared 79.6 percent year on year to 324,000 units in January, according to industry data....
Business
China home prices edge down in January, data shows
Beijing, China--Major Chinese cities reported falling home prices in January with narrowing declines, official data showed on Friday. The National...
Economy
Geostrategy
UAE and WHO dispatch 30 tonnes of medical supplies to Sudan
Dubai, UAE--The United Arab Emirates (UAE) and the World Health Organisation (WHO) have dispatched 30 tonnes of urgent medical supplies...
- The aid shipment estimated to be around US$444,000 is the first that WHO has dispatched by air to Sudan since the civil war erupted
- The UAE's aid delivery is focused on providing for the most vulnerable groups affected by the situation in Sudan, especially the sick, children, the elderly, and women
Business
Sharjah exhibits futuristic tourism technologies at ATM 2023
Sharjah, UAE-- Sharjah showcased its technology-enabled approach to the tourism industry at the Arabian Travel Market (ATM) 2023, highlighting the...
- The emirate displayed cutting-edge technologies and groundbreaking concepts, offering a glimpse into the emirate's tourist destinations
- A robot known as "Shj Al Guide" offered information, pictures, and promotional videos of events, activities, and tourist attractions in the emirate
Economy
AD Ports adds drydock services at Khalifa Port in expansion drive
Abu Dhabi, UAE— AD Ports Group will add drydock services to its portfolio at Khalifa Port in an expansion of...
- The port with the expansion in services, from container and cargo handling, vessel repairs and maintenance, is aiming to improve client service
- The CEO of AD Ports said the addition of new service will drive growth and enhance the company's competitive position in the market
Economy
Egypt reports 72% drop in current account deficit to US$1.8bn
Cairo, Egypt--Egypt’s current account deficit fell 77.2 percent to $1.8 billion in the first half of the North African country’s...
- The drop in the deficit was caused by current account turning a $1.41 billion surplus last year as imports dropped and exports soared
- According to S&P Global's report, the downturn in the business sector softened in April as cost inflation fell to a on-year low
Business
Abu Dhabi’s property market records sales worth US$7.62bn in Q1
Abu Dhabi, UAE--The property market in Abu Dhabi has recorded 5,472 property sales and mortgages valued at US$7.62 billion in...
- The emirate recorded a 147 percent jump in the value of real estate transactions during the first quarter of 2023 compared to the same period of last year
- The Department of Municipalities and Transport has reported an increase in the value of mortgage transactions to $3.18 billion during the first quarter
Business
UAE and Jordan sign MoU to boost tourism, cultural exchange
Abu Dhabi, UAE--Looking to boost tourism and cultural exchange between the two countries, the Department of Culture and Tourism Abu...
- The deal will bolster tourism and economic cooperation between the two nations, driving growth in leisure traffic in key markets
- The partnership entails starting initiatives like joint sales workshops, training, roadshows to improve partner engagements and cultural exchange
Business
Radisson eyes bigger share of Middle East hospitality sector
Dubai, UAE-- Seeking to take advantage of the boom in the Middle East's hospitality sector, Radisson Hotel Group will triple...
- The hotel group plans to have 150 properties across the Middle East by the end of the decade, from its current portfolio of 52 hotels in the region
- It will open seven properties across Saudi Arabia in 2023 as its intends to capitalize on the surge in religious tourism in the kingdom
Business
Beema’s Q1 profit soars
The firm recorded a jump in the net profit to US$3.73mn.
- In 2022, Beema achieved gross written premiums of $108 million, an increase of 6.8 percent from 2021
- It reported a total shareholders' income of $28.46 million and a total shareholders' profit of $15.54 million in 2022
Business
Turkey discovers oil field with 100k barrels daily capacity: Erdogan
The oil field discovery is set to yield a daily production of up to 100,000 barrels that will help Turkey...
- Erdogan said in a speech that Turkey has already begun supplying "high-quality" oil to refinery, with a productivity rate reaching about 100,000 barrels per day
- The president said that with reserves worth "tens of billions" of dollars, it will shore up Turkey's energy prospects and contribute to its economic growth
Business
e& profit at US$600mn in Q1
Its consolidated revenues rise to US$3.53bn in Q1 of 2023.
- Etisalat by e& added 13.9 million subscribers in the UAE, a 6 percent increase as against the same period of last year
- According to Brand Finance, e& has strengthened its position as the most valuable brand in the MENA region
Commercial vehicle sales in China soar 79.6% in January
Beijing, China--China's commercial vehicle sales soared 79.6 percent year on year to 324,000 units in January, according to industry data....
Business
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Global Fund to allot 70% of its funding to countries hit by climate change
Dubai, UAE--The Global Fund to Fight AIDS, Tuberculosis and Malaria (Global Fund) announced at COP28 that more than 70% of...
COP28 UAE
Putin to visit UAE, Saudi Arabia for talks amid OPEC output cuts
Russian President Vladimir Putin, according to his aide Yuriy Ushakov, will first arrive in the UAE this week and then...
Geostrategy
ADQ and Qazaqstan Investment Corporation set up ‘investment platform’
Abu Dhabi, UAE--ADQ and Qazaqstan Investment Corporation have established a co-investment platform focused on high-growth sectors such as food and...
Business
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COP28 UAE
UAE’s ENEC signs MoU with TerraPower for nuclear-technology development
Dubai, UAE--The Emirates Nuclear Energy Corporation (ENEC) has signed a memorandum of understanding with TerraPower, an American nuclear innovation company,...
- ENEC and TerraPower will collaborate across various areas, including technical design and commercial viability of the TerraPower Natrium technology development
- The MoU will look to jointly accelerate the commercialisation and global deployment of Natrium technology under licensing agreements with TerraPower
COP28 UAE
Ready to work with developing nations for green future: China
Chinese Vice Premier Ding Xuexiang said his country has promoted the targets for carbon peak and carbon neutrality, adding that...
- The vice premier called on the G77 and China to further speak with one voice and uphold common interests
- He urged all to promote sustainable development, a new path of coordination between development and protection
COP28 UAE
UAE and Turkmenistan pledge to ramp up ties ‘in all fields’
Dubai, UAE-- The UAE and Turkmenistan have agreed to enhance bilateral ties in all fields, particularly in the development sectors,...
- The leaders of the two countries reviewed ways to ramp up bilateral ties between the UAE and Turkmenistan in all fields
- They discussed the COP28 agenda and its role in bolstering international action to address the phenomenon of climate change