Chinese electric car company Nio to enter UAE this year
Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an...
Business
Geopolitical unrest generates an onslaught of DDoS attacks
NETSCOUT SYSTEMS, INC. released findings from its 2H2023 DDoS Threat Intelligence Report that dissects trends and attack methodologies adversaries use...
Geostrategy
Business
Bahri, stc sign logistics deal
Customs clearance assistance is part of the agreement.
- The stc group has operations in Saudi Arabia, Kuwait, Bahrain, and Oman.
- The contract was signed by Soror Basalom, President of Bahri Logistics and Ali Alhudhayf, Acting VP of Human Resources and Logistics Support at channels by stc.
Business
Abu Dhabi to launch blockchain, virtual assets strategy
The Abu Dhabi Blockchain and Virtual Assets Committee (ADBVAC) held its first meeting under the chairmanship of Mohamed Ali Al...
- The Abu Dhabi Blockchain and Virtual Assets Committee has been formed to look into various aspects of the field
- The committee comprises representatives of major entities and stakeholders active in this field
Economy
ENEC hosts top performing students from Al Dhafra region
The Emirates Nuclear Energy Corporation (ENEC) has hosted a recognition ceremony at the Barakah plant for top-performing students from the...
- The hosting of students reflects ENEC's stand to provide UAE youth with skills to become future leaders of the nation's growing nuclear energy sector.
- The event include an educational tour for students to visit Barakah Plant, the first multi-unit operational nuclear plant in the Arab World.
Business
Dubai real estate market’s July performance best in decade
Dubai real estate market recorded a total of 7,092 transactions in July 2022, which is its best performance in the...
- A total of 7,092 transactions in July 2022 overtook July transaction’s peak in 2013 which recorded 5,024 deals.
- The secondary market recorded the largest transactions, up by 59 percent in terms of volume and 70.60 percent in terms of value.
Business
Raydan posts loss of $6m in H1
The Saudi food company's revenue shot up to $21.33m.
- Its accumulated losses, however, hit $47.73 million at the end of the first six months of the year, representing 53 percent of its capital which amounted to $90.13 million
- According to a bourse filing, the company saw its first-half revenue surge 22 percent to reach $21.33 million
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
Chinese electric car company Nio to enter UAE this year
Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an...
Business
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UAE opens field hospital in Chad to help Sudanese refugees
ABU DHABI, UAE - Â UAE Ambassador to the Republic of Chad Rashid Saeed Al Shamsi on Sunday opened a field...
Geostrategy
Dubai Customs, Japan seize drugs worth $310m from Tokyo port
DUBAI, UAE- Dubai Customs has assisted Japanese customs authorities in intercepting a significant quantity of illicit drugs. Up to 700...
Geostrategy
OFID, partners offer $60m loan to Tanzania for renewable energy
VIENNA, AUSTRIA - A new US$60 million loan by the OPEC Fund for International Development (OFID) and partners is expected...
Economy
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Business
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...
- Qatar has seen a steady increase in cruise ship arrivals and passenger numbers, and the industry is poised for further growth in the seasons to come.
- In 2022-23 season, most cruise passengers originated from Germany (31 percent), Italy (10 percent), Russia (6 percent) and the United Kingdom (3 percent).
Business
Vodafone, Microsoft ink pact
The two firms will offer AI Digital Contact Centre Platform.
- The MoU was signed by General Manager of Microsoft Lana Khalaf, and Enterprise Business Unit Director at Vodafone Qatar Mahday Saad Al Hebabi.
- With this platform, contact centers will be equipped with modern digital tools to engage customers across voice, video, and other digital channels.
Geostrategy
UAE discusses tourism with India, UK, Indonesia and Japan
NEW DELHI, INDIA - UAE Minister of Economy and Head of the Emirates Tourism Council Abdullah bin Touq Al Marri...
- The UAE is keen on developing tourism ties with countries and building partnerships in fields that supports economic, social growth and prosperity.
- The UAE had adopted a forward-looking vision to develop a distinguished tourism sector at the regional and global levels.