Agthia to pay $17m dividend

• 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.

Sharjah to host International Jewelry Designers Forum

• 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.

Saudi Consumer Price Index rises by 3% in August: GASTAT

• 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.

Saudi Arabia: AI Algorithms to help crowd management at Holy Sites

• 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

Saudi Arabia to enhance wheat storage capacity

• 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.

Al-Ittefaq plans an IPO

• 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

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
• DMCC has created an integrated infrastructure including the establishment of the Yingtian Chinese Business Centre that caters to the Chinese business community

UAE delegation, led by Abdullah bin Zayed, in Tel Aviv to discuss ways to boost ties

Saudi Arabia plans seeks to create over 200 smart cities: Minister

• The cities will use AI systems in numerous fields, including inspection, waste management, parking, and spatial planning.
• The minister explained that cities will depend on their interconnectedness and interaction to improve services quality.

JAFZA facilitates more than a third of Dubai automotive volume

• This is equivalent to $12.4 billion, more than a third of the total trade worth $31.3 billion.  
• Dubai hosts the region’s biggest automotive trading hub and the largest used car market.