UAE banking sector assets exceed $1.16 trillion by the end of June
Abu Dhabi, UAE -- The Central Bank of the UAE (CBUAE) revealed that total banking assets, including bank acceptance certificates,...
Business
Saudi bid to host 2034 World Cup positions Kingdom as global center for top sports events
Saudi Crown Prince Mohammed bin Salman announced the Kingdom’s bid to host the 2034 FIFA World Cup. He said this...
Geostrategy
ENEC shares expertise at cyber energy leadership forum
The Emirates Nuclear Energy Corporation (ENEC) hosted the first edition of the CyberEnergy Leadership Forum (CELF) in Abu Dhabi. Over...
- The one-day forum featured a leadership briefing, followed by a technical forum hosted by ENEC and the United States Department of Energy
- ENEC is a leading entity that is spearheading cyber security in the UAE’s clean energy sector
Business
Response Plus enters Indian market
The company will establish its Indian headquarters in Kerala state.
- RPM India will work as a healthcare partner for onsite medical service solutions with oil and gas companies and other major industries.
- It will provide services to Airports, Seaports, Educational Institutions, malls and global events to meet the emergency healthcare needs.
Business
Agthia to pay $17m dividend
The dividend is in line with its bi-annual dividend policy.
- The company's H1 revenues reached AED 2 billion, up 51 percent year-on-year, and net profit grew to AED 118 million for the period, a 74 percent increase compared to H1 2021.
- Agthia recently announced an AED 90 million investment in a manufacturing facility in Saudi Arabia to drive growth for its protein vertical.
Economy
Sharjah to host International Jewelry Designers Forum
Expo Centre Sharjah has said that it will host the International Jewelry Designers Forum on October 7.
- The forum will discuss a number of thematic topics, including future trends in jewelry and gem designs.
- It will also discuss important techniques used in combining stones and lab-created diamonds.
Economy
Saudi Consumer Price Index rises by 3% in August: GASTAT
General Authority for Statistics said the main drivers of CPI inflation were the higher prices of food & beverages and...
- In August 2022, the Wholesale Price Index increased by 5.6 percent compared to the same month in 2021, but down from 6.8 percent in July 2022.
- The increase resulted mainly from the increase in metal products, machinery and equipment prices that have a relatively high weight in the index.
Economy
Saudi Arabia: AI Algorithms to help crowd management at Holy Sites
The Saudi Ministry of Interior and the Saudi Data and Artificial Intelligence Authority (SDAIA) have announced a strategic partnership for...
- The Saudi Ministry of Interior and the Saudi Data and Artificial Intelligence Authority have announced a strategic partnership for the purpose
- Efforts are on to increase the capacity to receive visitors and pilgrims, in line with the targets of the Kingdom’s Vision 2030
Business
Saudi Arabia to enhance wheat storage capacity
Saudi Arabia is looking to enhance wheat storage capacity in the kingdom by building new silos. Once it is done...
- At present, Saudi Arabia’s wheat storage capacity amounts to 3.5 million tons, distributed across 14 branches in the kingdom
- A project to construct silos in NEOM city has also been awarded to enhance the kingdom’s storage capacity.
Business
Al-Ittefaq plans an IPO
The $2bn worth Saudi steel giant will list on Tadawul.
- The value of the company is estimated at over $2 billion
- A deal with the financial adviser to manage the company’s initial public offering is expected soon
Business
DMCC doubles Chinese companies over last five years
The free zone is home to 703 Chinese businesses, representing nearly 12 percent of the Chinese companies in the UAE.
- The free zone is home to 703 Chinese businesses, representing nearly 12 percent of the Chinese companies in the UAE
- DMCC has created an integrated infrastructure including the establishment of the Yingtian Chinese Business Centre that caters to the Chinese business community
Geostrategy
UAE delegation, led by Abdullah bin Zayed, in Tel Aviv to discuss ways to boost ties
Sheikh Abdullah is travelling with a high-level UAE delegation on his visit, which will span several days and marks two...
UAE banking sector assets exceed $1.16 trillion by the end of June
Abu Dhabi, UAE -- The Central Bank of the UAE (CBUAE) revealed that total banking assets, including bank acceptance certificates,...
Business
Company News
Latest News
Dana Gas proposes dividend
Business
French President says change in existing world order would weaken West, Europe
PARIS, FRANCE - Attempts to change the existing world order threaten to weaken the West and especially Europe, French President...
Geostrategy
Kuwait Airport expects 13% rise in passenger numbers, says DGCA
KUWAIT CITY, KUWAIT - Kuwait's Director General of Civil Aviation (DGCA) expected that the total passenger traffic to and from...
Business
Iran says European countries willing to buy our drones
TEHRAN, IRAN - A number of European countries have asked to purchase Iran’s unmanned aerial vehicles, the spokesperson for the...
Geostrategy

Most Read
Business
Borouge’s PP5 unit generates $209m sales in H1 2023
ABU DHABI, UAE - Borouge's Chief Operating Officer Dr. Hasan Karam has said the fifth polypropylene unit (PP5) played a...
- Demand for products made from polypropylene is set to rise in the coming decades thanks to its versatility and recyclability.
- Polypropylene market in Asia, Africa and the Middle East is valued at $10 billion and is predicted to grow by 5.5 percent annually.
Geostrategy
Algerian, South African ministers discuss ways to boost economic cooperation
JOHANNESBURG, SOUTH AFRICA - Algerian Minister of Finance Laaziz Faid discussed with South African Finance Minister Enoch Godongwan, ways to...
- The two ministers discussed the available opportunities to enhance trade exchange between Algeria and South Africa.
- The aim of trade exchange and joint investment is achieving sustainable development in the region.
Economy
Currencies in Middle East resilient from Covid period till date
RIYADH, SAUDI ARABIA - As the world grapples with the economic aftermath of the COVID-19 pandemic, Middle Eastern countries, particularly...
- Saudi Arabian Riyal and UAE Dirham maintain stability against US Dollar from 2020 to 2023.
- Both the countries witness GDP growth of 45 percent and 43 percent respectively during the period.

