RAKBANK, DP World sign pact
The aim is to offer trade finance solutions to businesses in UAE.
Business
Gulf nations embark on defense industry localization
Saudi Arabia leads GCC efforts towards defense self-reliance by creating the first military industries committee, aiming to reduce foreign imports...
Economy
Economy
Jordan approves 33 articles of new investment law so far
The Lower House held an evening session on Sunday, chaired by Speaker Abdul Karim Dughmi.
- The Lower House held an evening session on Sunday, chaired by Speaker Abdul Karim Dughmi
- The drafty law has 52 articles, as referred to by the House Economy and Investment Committee
Business
NBK Bahrain H1 net profit $145m
The profit in the same period last year was $159m
- As of end of June 2022, NBK-Bahrain’s total assets stood at BHD 7.05 billion compared with BHD 7.13 billion for the same period in 2021.
- customer deposits increased by 68 percent y-o-y to BHD 3.080 billion compared with BHD 1.829 billion for the same period of previous year.
Arts & Culture
Dubai to host international museums conference in 2025
Dubai has officially begun its journey as the host of the 27th International Council of Museums (ICOM) General Conference 2025...
- Dubai’s hosting of the largest international gathering for museums in 2025 is set to strengthen the city’s position as a hub for creativity.
- Chairperson of Dubai Culture and Arts Authority (Dubai Culture) said the global platform is an opportunity to discuss the future of museums.
Videos
Top tourist destinations in Dubai
Dubai tourism recovered fast after the easing of Covid-19 restrictions, registering a 203 percent increase in the number of visitors...
- The increased flow of tourists helped improve hotel occupancy across the emirate, which reached 76 per cent during the period, the highest globally in Q1.
- Dubai was rated the third safest city to travel for solo female travelers.
Business
Saudi hosts preparatory meet for ITU’s conference in Bucharest
International delegates are meeting in Riyadh from August 28-31 to discuss the future of global digital communications ahead of International...
- The meet is hosted by Saudi Arabia’s digital regulator, the Communications & Information Technology Commission.
- Saudi Arabia is positioned to act as a convenor and mediator between the Arab world and the ITU’s 193 members to forge the best global digital policies.
Business
Saudi Arabia tops world with export of dates worth $322bn
Saudi Arabia harbors more than 33 million palm trees planted in more than 123,000 agricultural properties in 13 administrative regions,
- According to a report by the Ministry of Environment, Water and Agriculture (MEWA), Saudi Arabia's dates exports amounted to $322 billion
- The kingdom produces nearly 154 million tons of dates annually
Business
Alhokair trims H1 loss by 49%
It cut down the loss to $18m from $35.39m posted last year.
- The hospitality group recorded a 6.4 percent rise in revenue to $93.66 million that helped bring down the group's loss
- Alhokair saw growth across its different units during the six-month period, recording higher revenue from the hotel and entertainment sectors
Business
Saudi review partnership with Bahrain in green sector
Bahrain targets zero neutrality by 2060 in the country.
- The Saudi delegation briefed Bahrain’s minister on the farming and environmental practices in Saudi Arab.
- Bahrain’s delegation highlighted their efforts in developing agriculture, expanding green area, afforestation
Business
Saudi Arabia, Malaysia discuss food security
Saudi Arabia and Malaysia discussed cooperation in food security and the promotion of the private sector to benefit from investment...
- Minister of Environment, Water and Agriculture Eng. Abdulrahman bin Abdulmohsen Al-Fadhli represented Saudi in meeting
- Al-Fadhli met with Malaysia’s Minister of Agriculture and Food Industries Ronald Kiandee in Riyadh to discuss cooperation
Business
Saudi Arabia imports more cars in H1 than in whole of last year
Saudi ports have witnessed a growth in car imports during the first quarter of 2022, amid an increase in cargo...
- The kingdom has imported 320,000 cars during the first half of 2022— equivalent to 57 percent of last year's total figure
- The cars were mostly imported from Japan, US, and South Korea, with Thailand, Germany, China, and India also playing a prominent role
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
RAKBANK, DP World sign pact
The aim is to offer trade finance solutions to businesses in UAE.
Business
Company News
Latest News
Covid and Ukraine have badly hit UN sustainable goals progress
Geneva, Switzerland - United Nations Conference on Trade and Development (UNCTAD) said the COVID-19 pandemic, Ukraine crisis and the climate...
Economy
Cruise visitors to Qatar in 2022-23 rise 151 percent
DOHA, QATAR - New data from Qatar Tourism (QT) revealed that the country welcomed 253,191 cruise visitors during its 2022-23...
Business
Most Read
Geostrategy
Kuwait, UN sign MoU to enhance cooperation in counter terrorism
NEW YORK, US - Kuwait Ministry of Foreign Affairs and the United Nations signed a Memorandum of Understanding (MoU) aimed...
- A training program for Kuwaitis and the establishment of special workshops in the field of combating terrorism was discussed.
- The country has tried to strengthen global partnerships in combating terrorism, Kuwait's assistant minister said.
Business
Dubai’s weeklong real estate transactions exceed US$4.2bn
DUBAI, UAE - A total of 4,048 real estate transactions worth over US$4.2 billion (AED 15.6 billion) were conducted during...
- The records show that 278 plots were sold for US$473 million, while 2,965 apartments and villas were purchased for US$1.9 billion.
- The top transaction was that of a plot of land in Wadi Al Safa 3 which sold for US$24 million, the records revealed.
Business
CBUAE balance sheet rises to US$172bn at end of April 2023
ABU DHABI, UAE - The Central Bank of the UAE's (CBUAE) balance sheet grew by 6.3 percent on a monthly...
- CBUAE says balance sheet increased YoY to US$33 billion against US$138 billion at the end of April 2022.
- CBUAE has US$72 billion for cash and bank balances in April, along with reserved investments to the tune of US$55 billion.