Dubai partners with 9 developers to bolster Real Estate Program
Dubai, UAE -- The Dubai Land Department (DLD) has embarked on the first phase of a series of strategic partnerships...
Business
Business
KHC’s profit vaults by 1,162%
Kingdom Holding Co. posted $1.7 billion profit in H1.
- KHC’s revenue more than doubled to $320 million during the same period, thanks to higher hotel and property sales
- During the first half of the current year, KHC closed an $3.41 billion investment program, following the sale of shares to the Saudi sovereign wealth fund
Emirates NBD joins fight against illegal wildlife trade
The banking group is supporting efforts to combat global wildlife trafficking by joining the United for Wildlife financial task force.
- The banking group is supporting efforts to combat global wildlife trafficking by joining the United for Wildlife financial task force
- NBD will work with its peers to promote the welfare and safety of wild animals, Group Chief Compliance Officer Victor Matafonov said
Business
Assets of UAE national firms climbs 10% to $116bn in H1
A total of 74 listed companies listed in the Abu Dhabi Securities Exchange (ADX) accounted for 59.8 percent of total...
- According to the disclosures made by 118 listed companies, their assets increased to $1.289 trillion at the end of June
- The banking sector was the leading contributor, with 17 banks accounting for 69 percent of total assets, valued at $891 billion at the end of June 2022
Geostrategy
Jordan’s power supply to West Bank doubles after Jordan Valley plant’s upgrade
Jordan's Prime Minister emphasized that the project reflects Jordanian commitment to assist in laying the foundation for an independent Palestinian...
- Jordan's Prime Minister emphasized that the project reflects Jordanian commitment to assist in laying the foundation for an independent Palestinian state
- He added that Jordan is doing everything possible to safeguard the historical and legal status of Al-Aqsa Mosque and Al-Haram Al-Sharif
Business
RAK DED allots 837 licenses worth $39.48m in H1
The department's report highlighted the fact that professional licenses accounted for 49 percent of total numbering 8,986, followed by commercial...
- The number of commercial licenses were 449, representing 51.4 percent, followed by professional licenses numbering 406, along with 17 industrial licenses
- The total number of renewed licenses in the first half of 2022 was 6,947, compared to 6,606 during the same period in 2021
Business
Kuwait raises oil production to meet growing demand
The increased production is consistent with announcements made by Kuwait Petroleum Corporation.
- The increased production is consistent with announcements made by Kuwait Petroleum Corporation
- Kuwaiti oil minister Dr Al Faris said that Kuwait will continue to support efforts to promote market stability
Geostrategy
Qatar to invest $3bn in beleaguered Pakistan economy
The United Arab Emirates this month said it would invest $1 billion in Pakistan and, according to reports, Saudi Arabia...
- Qatari emir "stressed the importance of the brotherly and strategic relations between the two countries" and the need to bolster their economic partnership
- Assistance from Gulf nations and a $2.5 billion loan from China has helped Pakistan stave off the worst of an economic crisis that has seen annual inflation rise above 20 percent
Geostrategy
Abu Dhabi trainee doctors to benefit from Canada healthcare programs
Abu Dhabi's trainee doctor specialists, as part of Emirates academic healthcare training institutions, will now have access to Canada’s accredited...
- Per an MoU, both entities will exchange knowledge and best practices in the field of healthcare, especially in postgraduate medical education.
- Both entities will facilitate conversations and exchange experiences that support setting standards for postgraduate medical education and family medicine.
Economy
Saudi Arabia’s merchandise exports in June up 75 percent: GASTAT
Saudi Arabia’s merchandise exports during June 2022 increased by more than 75 percent to 148 billion riyals ($39.37 billion) compared...
- The non-oil exports (including re-exports) rose by 26.8 percent to 30 billion riyals in June 2022, compared to 24 billion riyals in June 2021.
- The kingdom’s merchandise imports during June 2022 amounted to 60 billion riyals, compared to 47 billion riyals during June 2021, an increase of 28.9 percent.
Business
Palms Sports wins its biggest contract
The 30-month UAE government contract is worth $83.31m.
- Under the new contract it will provide 350 expert Jiu-Jitsu and close combat instructors in locations across all seven emirates.
- Palms Sports reported the first half profit of AED47.2 million, a 37 percent increase for the same period last year.
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Dubai partners with 9 developers to bolster Real Estate Program
Dubai, UAE -- The Dubai Land Department (DLD) has embarked on the first phase of a series of strategic partnerships...
Business
Company News
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Israel defiant amid global criticism over West Bank settlement expansion
UN Middle East envoy Tor Wennesland issued a warning on Monday against changes made by the Israeli government that will...
Geostrategy
UAE, ILO ink agreement to enhance labor inspection capabilities
GENEVA, SWITZERLAND - The UAE has signed a cooperation agreement with the International Labor Organization (ILO) to collaborate in labor...
Economy
Sheikh Mohammed inaugurates 5th phase of Mohammed bin Rashid Al Maktoum Solar Park
DUBAI, UAE - Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of...
Business
Most Read
Economy
Qatar Industrial Production index up 2.8 percent in April
DOHA, QATAR- The Industrial Production index (IPI) of Qatar for April 2023 reached 106.4 points which is an increase of...
- The index of the mining sector showed an increase by 3.2 percent compared to the previous month (March 2023).
- For manufacturing the index of this sector showed an increase by 0.5 percent compared to the previous month (March 2023).
Geostrategy
UAE, Morocco speakers of parliament discuss ways to enhance cooperation
MARRAKESH, MOROCCO - Speaker of the UAE Federal National Council (FNC) Saqr Ghobash met with Morocco Speaker of the House...
- The two sides discussed ways to enhance their parliamentary cooperation, including the exchange of visits and sharing of best practices.
- The meeting also highlighted the deep-rooted relations between the UAE and Morocco based on mutual respect and appreciation.
Business
Dubai records US$3.4bn in weekly real estate transactions
DUBAI, UAE - A total of 3,625 real estate and properties transactions valued at US$3.4 billion (AED12.5 billion) were conducted...
- The DLD report showed that 189 plots were sold for US$620 million.
- The report showed 2,753 apartments and villas were sold for US$1.9 billion.