World’s longest diamond necklace set to break Guinness record at Sharjah show
Sharjah, UAE – Exhibitors at the 55th Watch and Jewelry Middle East Show, scheduled from May 28 to June 1,...
Business
Economy
UAE president issues new law on regulation, development of industry
The law which will come into effect from January 2023 aims to increase UAE’s attractiveness as investment destination.
- The law which will come into effect from January 2023 aims to increase UAE’s attractiveness as investment destination
- It allows the creation of a package of incentives and enablers for the industrial sector that support national strategic objectives
Interview
Crises augment EU-GCC energy & security cooperation
Josep Borrell, the EU High Representative for Foreign Affairs and Security Policy, points out that since the Ukrainian crisis, an...
- The Ukrainian crisis has been a big push for the EU to understand the requirement of more renewables, especially the need to develop hydrogen, says EU official
- The European Union has a new strategy for more engagement and better partnership with the Gulf countries, the bloc's foreign policy chief Josep Borrell adds
Geostrategy
COP27: ACG to give $24bn for climate action by 2030
The fund will support the acceleration of the energy transition, the increased resilience of food, transport, water and urban systems,...
- The fund will support the acceleration of the energy transition, the increased resilience of food, transport, water and urban systems, and the promotion of energy security
- The financial commitment by the Arab Coordination Group comes as part of a joint Call for Climate Action for Equitable Development at COP27
Business
AD Ports, IDB ink deal to enhance UAE-Iraq trade flows
Abu Dhabi, UAE - AD Ports Group and International Development Bank (IDB) have signed a deal to review opportunities for...
- IDB aims to provide its services to corporate clients and support a range of key infrastructure projects in UAE and Iraq.
- The UAE and Iraq have continued to strengthen trade ties in 2022, with several trade agreements and development deals.
Business
UAB posts $32.39 million net profit
Third quarter operating income grows by 4 percent.
- In a statement, the bank said the growth in net profit is a result of improved operating performance and lower expected credit losses.
- The bank returned to profitability due to the execution of an effective strategy, said Sheikh Faisal bin Sultan bin Salem Al Qassimi, Chairman of the Board of Directors UAB.
Economy
Abu Dhabi to host World Islamic Economic Forum in 2024
Launched in 2005 by the WIEF Foundation, the WIEF is a global platform created to promote and discuss the latest...
- Launched in 2005 by the WIEF Foundation, the WIEF is a global platform created to promote and discuss the latest economic developments
- The Forum strengthens dialogue, exchanging of ideas and knowledge between senior government officials, academics, and business leaders from around the globe
Business
Dana Gas net profit up 64%
The company reported net profit of $161m for 9M of 2022.
- In a bourse disclosure, the company said the gross revenue for the same period increase by 24 percent year on year to AED1.521 billion ($415 million).
- The gains in profit were driven by higher realized prices, “prudent cost control and strong operational performance in the Kurdistan Region of Iraq (KRI)”, the filing said.
Geostrategy
Biden’s upcoming foreign trip to focus on Climate, Ukraine, China
Biden's tour would include meetings of ASEAN and the Group of 20 industrialised nations in Cambodia and Indonesia.
- Biden's tour would include meetings of ASEAN and the Group of 20 industrialised nations in Cambodia and Indonesia
- The trip will begin two days after the US midterm elections which will determine whether Democrats keep their congressional majorities
Business
Villas, apartments form major chunk of $598m Dubai realty deals Tuesday
Dubai, UAE---Dubai real estate market recorded realty deals worth AED2.2 billion ($598 million) on Tuesday, according to the data by...
- The deals include 544 sales transactions worth AED1.64 billion, in addition to 78 mortgage deals of AED590.54 million.
- Residential properties in the UAE remain a top priority for international real estate investors.
Business
Al Arabia’s profit up 43%
Its profit rose to $52 million in first nine months.
- The Riyadh-based firm, partly owned by media giant MBC group, saw its revenue jump 64 percent to $216 million
- It added that the results were bolstered by the company's efforts to enhance regional expansion and enter new projects and strategic partnerships
Most Read
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
World’s longest diamond necklace set to break Guinness record at Sharjah show
Sharjah, UAE – Exhibitors at the 55th Watch and Jewelry Middle East Show, scheduled from May 28 to June 1,...
Business
Company News
Latest News
Joint ministerial committee meets US secretary of state
Washington, US – A committee of the Joint Arab-Islamic Extraordinary Summit under the chairmanship of Prince Faisal bin Farhan bin...
Geostrategy
IMF, UAE, other countries meet on anti-money laundering, counter terrorism financing
ABU DHABI, UAE - International Monetary Fund (IMF), in collaboration with the UAE Executive Office of Anti-Money Laundering and Counter...
Geostrategy
Dubai faces warehouse shortage, says new report
DUBAI, UAE — The supply of under construction warehouse stock in Dubai’s industrial market stands at 1.56 million square feet according...
Business
Most Read
Business
Sidra Medicine, GlobeMed Qatar sign pact on medical services
DOHA, QATAR – Sidra Medicine and GlobeMed Qatar have signed an agreement to offer eligible insured members of payers contracted...
- The insured members contracted with GlobeMed Qatar will have access to Sidra Medicine’s women’s and pediatric medical services.
- This collaboration marks a significant step in offering insured members enriched healthcare experience in Qatar.
Business
Awaed Alosool launches Sharia compliant investment platform
RIYADH, SAUDI ARABIA - Awaed Alosool Capital announces the launch of the Awaed platform, revolutionizing investment opportunities in public listed companies....
- Awaed Alosool unveils an innovative platform dedicated to empowering individuals in Saudi Arabia with seamless access to Sharia compliant investment.
- The platform provides an intuitive interface, offering individuals the means to engage in the market irrespective of their geographical location.
Business
HPDC, HDC ink agreement
The aim is to stimulate the growth of the halal industry.
- The two companies will exchange information on industry-leading practices and successful models of halal ecosystems.
- The agreement will broaden the scope of collaboration by facilitating engagement with halal exporters and investors.