DWTC welcomes 2.47m visitors in 2023, says EVP
DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC) Mahir Julfar said that the DWTC's performance in 2023...
Business
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
Seera sees 43% slide in loss
The Saudi travel group saw its loss fall to $35m in H1.
- The travel agency's gross booking value climbed up 105 percent on the year to $1.09 billion, and revenue was up 125 percent to $282 million
- Almosafer, its travel business, bounced back with increased demand in the second quarter along with a gross booking value of $453 million
Business
BinDawood’s H1 profit tumbles
Largest Saudi retailer posts a 31% dip in H1 profit to $28.80m.
- The company's board proposed a half-year cash dividend payout of $27 million at SR0.9 per share
- Its sales and revenues surpassed $640 million during the first half of the current year
Business
Al Akaria posts profit in H1
The developer's profit rose to $4.3m, after last year's loss.
- Shored up by a 152 percent jump in revenues, the company's stock price climbed up as it returned to profitability,
- The developer also incurred less expenses during the six-month period, thanks to a drop in selling and marketing costs by $320,000
Economy
UAE stocks generate strong cash flows Tuesday
FAB gained AED173.7 million in liquidity, closing at AED19.740, while ALPHADABI drew AED102.9 million, ending at AED24.040.
- FAB gained AED173.7 million in liquidity, closing at AED19.740, while ALPHADABI drew AED102.9 million, ending at AED24.040
- The ADX-listed ADNOC Distribution was among big gainers, ending 1.09 percent higher at AED4.620, followed by ADNOC Drilling which closed 0.28 percent up at AED3.620
Business
Ban on single use plastic bags in Sharjah to begin from Jan 2024
Sharjah has banned single-use plastic bags and materials in the Emirate of Sharjah as of 1st January 2024. It follows...
- It follows Sharjah’s efforts of making an environment-friendly emirate and its supportive plans of conservation, said reports
- The ban was decided during a meeting of the Sharjah Executive Council (SEC) Tuesday morning at the Sharjah Ruler’s office.
Economy
Jordan government committed to public-private engagement
The government is committed to expanding the management consulting services sector's participation in enhancing industrial production processes and facilitating access...
- Jordan's government views its partnership with the private sector as a cornerstone to achieve economic and social development
- The ministry of industry, trade and supply's consulting council was established to formulate economic policy and legislation
Business
Aldar says it recirculated $2.39bn into UAE economy through ICV
Aldar Properties said Tuesday that it has recirculated AED8.8 billion ($2.39 billion) to the local economy through In-Country Value (ICV)...
- The ICV aims to boost economic performance and support local industries by redirecting higher portions of public spending into the national economy.
- In its sustainability report, Aldar said that Aldar Projects also signed development project contracts worth AED8.5 billion, including 16 contracts with UAE-based companies.
Business
Sharjah records 2,417 real estate transactions in July 2022
Sharjah Real Estate Registration Department (SRERD) has revealed that total transactions carried out in July 2022 amounted to 2,417 transactions...
- The department's statistics reveal that Muwaileh Commercial area had the highest number of sales transactions in Sharjah,
- SRERD monthly report showed that sales transactions were recorded at 24.3 percent
Business
EGA H1 2022 profit $1.61bn
Cast metal sales rose 11% compared to H1 2021.
- EGA noted this is its best ever half yearly performance as the first half of 2022 exceeded the net profit of entire 2021.
- EGA's adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was $2.07billion in H1 2022.
Business
DEWA breaks own record for overhaul of gas turbines
Dubai Electricity and Water Authority (DEWA) has announced breaking its own world record in major inspection outage duration for the...
- DEWA has reduced the maintenance outages for critical inspection operations from 11 days to nine days.
- There is a reduction in the maintenance duration of 84 percent compared to 2006.
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DWTC welcomes 2.47m visitors in 2023, says EVP
DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC) Mahir Julfar said that the DWTC's performance in 2023...
Business
Company News
Latest News
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
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Business
38 million passengers used services of SRTA in 2022, say reports
SHARJAH, UAE - The Sharjah Roads and Transport Authority (SRTA) said it transported about 38 million passengers, throughout the year...
- The beneficiaries of taxi services and franchise companies within the emirate amounted to 29 million passengers.
- The total beneficiaries of bus services amounted to about 5.3 million, with an average of 14,500 passengers per day.
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.