UAE non-oil foreign trade up by 14.6% in 2024 to reach $816bn
Abu Dhabi, UAE -- UAE's non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching...
Business
Fourth Industrial Revolution centers announced for Riyadh, Muscat, Pretoria
Davos, Switzerland -- The World Economic Forum (WEF) has announced signing agreements for three new Centers for the Fourth Industrial...
World Economic Forum
Business
Lulu Group to list on Abu Dhabi Exchange in 2023
V Nandakumar stressed that the group’s listing is a major opportunity to contribute to the sustainable growth of the Emirati...
- V Nandakumar stressed that the group’s listing is a major opportunity to contribute to the sustainable growth of the Emirati economy
- A number of other firms are considering their IPOs on ADX and the Dubai Financial Market to build up resilience against international uncertainties
Business
Camel Club, Riyadh Chamber to promote camel culture as Saudi heritage
Riyadh, Saudi Arabia---The Saudi Arabia's Camel Club and Riyadh Chamber of Commerce have signed an MoU to develop and create...
- The two entities signed an MoU that also aims at creating investment opportunities in the camel sector.
- Providing support and assistance to the club when holding international conferences are other aims of the MoU.
Business
Oman & Emirates Co. Q3 net profit $5.6m
The profit for the same period in 2021 was 538,832 OR.
- Oman & Emirates Investment Holding Company was established through the Royal Decree in 1993, as an joint venture between Oman and UAE.
- O&E is registered as an Omani Joint Stock Company traded in Muscat, Abu Dhabi and Dubai Securities Markets.
Business
ADNOC awards $980m contract
The contract awarded to ADNOC Drilling to hire offshore rigs.
- ADNOC Drilling is the largest national drilling company in the Middle East by rig fleet size.
- Over 80 percent of the award value will flow back into the UAE’s economy under ADNOC’s In-Country Value (ICV) programme.
Business
Burjeel Holdings set to expand to Oman, Saudi Arabia
The company is raising capital to support the ongoing expansion in the UAE and Oman, and pending entry into Saudi...
- The company is raising capital to support the ongoing expansion in the UAE and Oman, and pending entry into Saudi Arabia, the founder Dr Parambath said
- In the UAE Burjeel has built the cancer centre, the mother care services, as well as the orthopaedic and diagnostic networks
Science
Dubai’s Museum of the Future to house Global Futurist Society
The Global Futurist Society headquarter at the MOTF creates a physical center for international and cross-border dialogue.
- The Global Futurist Society headquarter at the MOTF creates a physical center for international and cross-border dialogue
- It will harness the knowledge and expertise of local and global networks and members of the constituent parties to shape practices in future
Business
Video highlights: Futuristic TOP CEO 2022 discusses economic opportunities
The TOP CEO Conference, held in Dubai in Q2, discussed several burning global and regional issues of the time. It...
- The TOP CEO Conference in Dubai in the second quarter of 2022 discussed several burning global and regional issues of the time
- It brought together Arab and international business leaders and experts to discuss several topics under the theme of The Great Business Reset
Economy
Saudi Arabia dismisses statements critical of OPEC+ quota cut
A few days after US President Joe Biden said that there would be consequences for Saudi Arabia on its decision...
- The United States accused Saudi Arabia of kowtowing to Moscow, which objects to a Western cap on the price of Russian oil in response to its invasion of Ukraine
- The Saudi foreign ministry statement stressed the “purely economic context” of the oil cut
Business
ENOC unveils service station of future for public at Expo City
Dubai, Abu Dhabi -- ENOC Group announced Wednesday that its Service Station of the Future is now open to the...
- Expo City Dubai is now ready to host 145,000 residents and workers, becoming the UAE’s first 15-minute city.
- This includes amenities in close proximity to the 85 start-ups and small businesses that occupies the commercial space.
Business
Yellow Door closes $400m equity raise
It plans to deploy $1bn in sustainable energy projects.
- Yellow Door said in a statement that the funding was substantially provided by YDE’s newest and now controlling shareholder, Actis.
- Existing shareholders International Finance Corporation (IFC), Mitsui & Co., and APICORP also increased their equity commitments.
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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
UAE non-oil foreign trade up by 14.6% in 2024 to reach $816bn
Abu Dhabi, UAE -- UAE's non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching...
Business
Company News
IDB inks pact with IRENA
Business
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RCU inks pact with Artefact, Dassault Systèmes for AI, digital solutions
ALULA, SAUDI ARABIA – The Royal Commission for AlUla (RCU) has reinforced its commitment to technology innovation and cutting-edge digital...
Business
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Business
RSG, KHC set up joint venture
The JV will develop and own the Four Seasons Resort Red Sea.
- The anticipated luxury resort is situated on Shura Island, the main hub for Red Sea destinations.
- It will offer 149 rooms and suites, plus 31 residential properties, as well as six restaurants and lounge outlets.
Business
KEZAD Group signs lease agreement with Advanced Petro Services
ABU DHABI, UAE - Khalifa Economic Zones Abu Dhabi (KEZAD) Group, the integrated trade, logistics, and industrial hub of Abu...
- KEZAD’s industrial ecosystem is equipped with state-of-the-art infrastructure which perfectly supports Advanced Petro Services’ 24,000 sqm facility.
- The CEO of KEZAD Group said APS is well-positioned to make a significant impact in the broader Abu Dhabi industrial landscape.
Business
Total of 52 MoUs signed in Saudi-Korean Investment Forum
RIYADH, SAUDI ARABIA – A total of 52 memorandums of understanding (MoUs) were signed at the Saudi-Korean Investment Forum here....
- The private sector inked 48 MoUs in sectors ranging from transportation, tourism, energy, technology, infrastructure and cybersecurity.
- The pacts aim to enhance investments between Saudi Arabia and South Korea which reflect the efforts towards collaboration between the two nations.