DAE to acquire 17 aircraft for $1 bn
This portfolio comprises 100 percent next-generation aircraft
Business
Business
Abu Dhabi Airports revamp its brand identity
The makeover is geared to provide connectivity and hospitality that showcases the emirate as a prime travel destination.
- The makeover is geared to provide connectivity and hospitality that showcases the emirate as a prime travel destination
- It also aims at ensuring safe, secure and sustainable airport environments and operations
Business
Alpha Dhabi posts US$2.45bn net profit
It recorded a150% rise in profit in first nine months of 2022.
- Revenues also grew significantly standing at $7 billion, representing a year-on-year increase of 133 percent with strong contributions from the existing portfolio in the healthcare
- The Group remains well-funded with a strong cash position of $4. 62 billion
Business
Masdar to partake in Saudi renewable energy market
Masdar will also participate with partners in the upcoming Round 4 tender announced by the Saudi Power Procurement Co.
- Masdar will also participate with partners in the upcoming Round 4 tender announced by the Saudi Power Procurement Co.
- Saudi Arabia plans to generate 50 percent of its electricity from clean sources by the end of this decade, targeting 58.7 GW from renewable sources
Economy
UAE makes amendments to value added tax rules
Abu Dhabi, UAE— The UAE Ministry of Finance announced amendments to some provisions of the Federal Decree-Law No. 8 of...
- The amendments were made are in line with international best practice in light of the GCC Unified VAT Agreement
- They are based on past experiences, challenges faced by various business sectors as well as the recommendations received from the relevant parties
Economy
Reviewed: Strategies to promote wellbeing in the UAE
She was attending the Government Network Meeting of Happiness and Well-being CEOs, which seeks to align the efforts, initiatives and...
- The meeting reviewed the healthy wellbeing strategy plan which included several initiatives aimed at enhancing well-being governance and improve health
- The strategic plan focuses on a set of programs that promote a healthy well-being of the UAE residents in line with the National Well-being Strategy 2031
Business
DFSA signs agreement with Bangladesh SEC
DUBAI, UAE - The Dubai Financial Services Authority (DFSA) has signed a Memorandum of Understanding (MoU) with the Bangladesh Securities...
- The MoU was signed by Chief Executive of the DFSA Ian Johnston and Chairman of the BSEC Professor Shibli Rubayat Ul Islam Friday in Dubai.
- The agreement provides a framework for facilitating cross-border collaboration between the two bodies on supervision and enforcement actions.
Videos
GCC’s two biggest trade allies are Asians
As the US is apparently pulling away from the Middle East, the cooperation between the Gulf and Asian regions is...
- Experts believe the US is pulling back from the Middle East and shifting its attention and resources to the "priority theatre" of the Indo-Pacific.
- But as the world recovers from the Covid-19 pandemic, the GCC countries are expected to play a more significant role in the ongoing Asianization of the global economy.
Business
QGIRCO posts Q3 net profit of US$1.1m
Firm's Q3, 2022 profit fell compared to Q3 in 2021.
- The company's data indicated that the earnings per share amounted to $.01 in the third quarter of this year,
- The company's earnings per share was $.02 for the same period last year.
Business
Amanat Holdings buys 60% stake in HDC for US$58m
HDC provides special education and care services in S Arabia.
- HDC has a presence across six provinces of Saudi Arabia and caters to over 3,000 beneficiaries.
- It has a network of nine schools, 22 daycare centers and specialized rehabilitation medical clinics.
Arts & Culture
Saudi culture ministry provides training in UNESCO program
Under its recently announced Experts Program, the Saudi Ministry of Culture has provided an intensive leadership training course for Man...
- MAB is an intergovernmental scientific program that seeks to enhance the relationship between people and their environments through natural and social sciences.
- Delivered in partnership with the UNESCO Regional Bureau for Science in the Arab States, the course brought together 17 local and international participants.
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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
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Saudi Arabia, CARICOM countries hold first summit for strategic partnership
RIYADH, SAUDI ARABIA - Since its foundation, the Kingdom has been keen to build bridges of communication with all the...
Geostrategy
UAE warns of visa ban over job loss insurance fines
ABU DHABI, UAE - Some employees who failed to meet an October 1 deadline to sign up to the UAE's...
Business
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Geostrategy
Israel pauses bombing in Rafah for four hours
Tel Aviv, Israel - The Israel Defense Forces (IDF) suspended its military operation in Rafah in the southern Gaza Strip,...
- A humanitarian corridor to evacuate civilians from the Palestinian enclave’s northern areas will be available from Al Shifa Hospital to the southern Gaza Strip.
- The Israeli military will allow Palestinian refugees to leave the Al-Shati camp, which the IDF claims to have taken control of,
Business
Chemanol to buy stake in ACC
It will acquire 84 percent stake for US$12.3 million.
- The purchase amount would be disbursed partially and within specified intervals, as per the terms stipulated in the SPA.
- Chemanol said the acquisition is aimed at enhancing its share in the market and diversifying its product range,
Business
ADIB lists $500m green sukuk on LSE
The bank marked the issuance of its $500 million green sukuk.
- London Stock Exchange has welcome ADIB’s listing, as the world’s first dollar denominated green sukuk.
- This follows the bank’s recent successful listing of US$750 million AT1 perpetual sukuk.