Global Future Councils meet calls for collective action to tackle global crises
Over 500 experts gathered at the World Economic Forum Annual Meeting of the Global Future Councils 2024 in Dubai to...
Geostrategy
‘Visa-free entry for GCC nationals will enhance business collaboration’
In an interview with TRENDS, CEO of ITCN Asia, Muhammad Umair Nizam highlights the expanding role of Pakistani IT firms...
Business
Dubai first half dhow trade up 21 percent: PCF Corporation
Dubai, UAE--The Marine Agency for Wooden Dhows has facilitated the entry of more than 6,000 wooden dhows during H1, reflecting...
- Since its establishment in July 2020 by Dubai’s Ports, Customs and Free Zone Corporation (PCFC), the emirate has witness a robust growth in dhow trade, PCFC said.
- he Agency supervised the movement of 6,052 wooden dhows during H1 2022, which ferried 1 million metric tons of merchandise from countries across the MENA region and beyond.
Business
Yahsat to pay $53.5m H1 dividend
The dividend will be paid by 14 Oct to all shareholders.
- The Group said it is on track to deliver a total dividend of at least AED393.3 million for the full 2022 financial year.
- The second and final dividend for 2022 is expected to be paid in April 2023.
Economy
Saudi Tourism Authority organizes promotional tour in GCC countries
The tour came within the framework of the kingdom’s efforts to promote tourism destinations, attract tourists from the region and...
- The tour came within the framework of the kingdom’s efforts to promote tourism destinations, attract tourists from the region and regional markets
- Earlier, Saudi Arabia passed a new tourism law which is expected to accelerate the development of an internationally competitive tourism sector
Business
Wizz to set up fleet in KSA
It aims to set up a fleet of 50 aircraft in the kingdom.
- More than a quarter of the flights in the unit will be domestic, with about 50 percent focusing on the wider Middle East and the rest primarily on Europe
- The company plans to start its services to Saudi Arabia next week, starting with flights to the Gulf city of Dammam from Rome, Vienna and Abu Dhabi
Geostrategy
We are helping Lebanon to deal with economic challenges: Blinken
The United States Secretary of State Antony Blinken said the US is supporting Lebanon through its incredibly challenging economic issues.
- The United States Secretary of State Antony Blinken said the US is supporting Lebanon through its incredibly challenging economic issues
- Prime minister Mikati thanked Blinken for his support and the opportunity to talk about Lebanon’s problems.
Economy
UAE GDP grows 18.8% at current prices in 2021, says federal body
The centre’s data showed that non-oil GDP at constant prices grew by 5.8 percent to $0.33 trillion in 2021, compared...
- The centre’s data showed that non-oil GDP at constant prices grew by 5.8 percent to $0.33 trillion in 2021, compared to around $0.27 trillion in 2020
- According to the FCSC, the contribution of extractive industries, such as crude oil and natural gas, to GDP at fixed prices fell from 28.7 percent in 2020 to 27.4 percent in 2021
Business
Air passengers number up, reveals global aviation meet in Dubai
Some of the greatest minds in the aviation industry took to the stage at this year’s Global Aviation Conference in...
- Air passenger numbers are expected to exceed 80 percent of pre-pandemic levels this year.
- The surge would be driven by strong pent-up demand, eased travel restrictions, and growing employment rates.
Business
Saudi China’s largest oil supplier in Q1 despite Beijing’s Russia imports
Riyadh, Saudi Arabia - Saudi Arabia topped the list of oil suppliers to China for the first time in four...
- Saudi’s oil exports rebounded last month to 8.475 million tons, or 1.99 million barrels per day (bpd).
- The Kingdom remained the biggest supplier to China this year, shipping 58.31 million tons of oil till Aug.
Geostrategy
UAE, France, India share vision on sustainable growth: Sheikh Abdullah
New York, USA - UAE, France and India have discussed the need for enhancing global cooperation to counter energy and...
- Foreign ministers of the three countries reviewed it as they met on the sidelines of UNGA's 77th session.
- The three ministers discussed enhancing global cooperation in facing issues like energy and food security.
Business
Binance gets MVP license from Dubai virtual assets authority
Dubai, UAE--Binance, the leading global blockchain services provider, said Tuesday it has received the Minimal Viable Product (MVP) license from...
- The transition to an MVP License from a provisional license means Binance can open a client money account with a domestic bank and benefit from new services.
- It can offer services to qualified retail and institutional investors in Dubai within its internationally benchmarked legislative framework for virtual asset service providers.
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
Global Future Councils meet calls for collective action to tackle global crises
Over 500 experts gathered at the World Economic Forum Annual Meeting of the Global Future Councils 2024 in Dubai to...
Geostrategy
Company News
Latest News
Saudi business delegation visits ZSBVC steel factory in Vietnam
HANOI, VIETNAM - A delegation of 80 Saudi businessmen, representing over 50 companies, and representatives from national specialized bodies and...
Business
Transfer of Iran’s unfrozen foreign assets to Qatari banks soon
TEHRAN, IRAN – The foreign minister of Qatar said the procedures for the transfer of Iran’s unfrozen foreign assets to...
Geostrategy
Emirates NBD Group invests in sustainability startup Erguvan
Dubai, UAE - Emirates NBD made an investment in Erguvan, a climate and financial technology venture aimed at providing financial...
Business
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Geostrategy
Relations with Iran will be strong, says Saudi envoy
TEHRAN, IRAN - Saudi Arabia's Ambassador to Iran Abdullah bin Saud al-Anzi has said that relations between the two countries...
- The Saudi envoy expressed satisfaction with his country's ties with Iran and the two sides' resumption of bilateral diplomatic relations.
- He said that any pact between Saudi Arabia and Iran will lead to the enhancement of peace and security in the entire region.
Business
Agthia okays H1’23 interim dividend
The interim dividend reflects the firm’s robust balance sheet.
- Agthia Group had announced strong first-half results, with group net revenue increasing 10.3 percent year-on-year to US$599 million.
- EBITDA increased 18.3 percent supported by margin expansion in snacking, protein, water and food, and a 6.6 percent increase in group net profit.
Business
ADNOC L&S boosts barge fleet
With the latest acquisition, the firm now owns 39 JUBs.
- This expansion comes when JUB charter rates are robust due to the high demand for offshore services.
- One of the JUBs will serve the Iraqi market, marking ADNOC L&S’ entry into a new market and supporting the firm’s regional expansion.