UAE announces monthly allowance of 50% of basic salary for imams, muezzins
Abu Dhabi, UAE - United Arab Emirates has announced a provision of a monthly financial allowance equivalent to 50 percent...
Mubadala to anchor US-based Blue Opal’s second venture capital fund
MIC will be an anchor investor in their second venture capital fund.
Business
Business
Qassim Cement’s profit tumbles
The Saudi firm posted a 73% fall in profit to $14m in H1.
- Following the news of financial results, the company stock tumbled 2.45 percent at the end of Tuesday's closing
- Its revenue also declined by 30 percent during the first half to stand at $78.66 million
Economy
UAE busy in strengthening its food security system
The UAE is strengthening its food security system through policies that include promoting cooperation with other countries and markets, diversifying...
- The UAE is strengthening its food security system through policies that include promoting cooperation with other countries and markets.
- The policies include diversifying sources, attracting local and foreign agricultural investment.
Economy
Dubai has comprehensive plans to ensure food security: Crown Prince
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum was on a tour of Bustanica, the world’s largest vertical farm that...
- The Dubai Food Security Committee constantly reviews current opportunities and challenges within the national food security strategy framework, he said.
- The crown prince said Dubai will continue pursuing ways to strengthen the emirate’s resilience and food sustainability irrespective of the global environment.
Business
Kuwait’s National Fund shored up 132 SMEs during pandemic
Kuwait's National Fund for SME Development (SME Fund) has helped resolve the problems of 132 small and medium-sized enterprises (SMEs)...
- Founded in April 2013 under Act 98, the government Fund approved establishing 1,422 projects and joint agreements with 992 SMEs.
- Some SMEs offered essential backing to the national economy during pandemic in areas such as medical services, logistics and foodstuff.
Business
Non-Arab foreigners invest $4.23bn in UAE stocks since Jan 2022
According to Abu Dhabi and Dubai financial markets, non-Arab foreign investors purchased local stocks worth AED70.27bn from the beginning of...
- The purchases of non-Arab foreign investors in the Dubai Financial Market totaled some AED18.75bn since the start of this year.
- The UAE has been ranked first in the Arab world and 19th globally for its ability to attract foreign direct investment in a report by UNCTAD.
Business
Trakhees reports 22 percent H1 growth in commercial licensing business
Dubai’s Department of Planning and Development, Trakhees, the regulatory arm of the Ports, Customs and Free Zone Corporation, has completed...
- The Licensing Department provides corporate licensing services to local and free zones and government bodies including issuing work permits, establishment cards and NOCs.
- The demand for local licensing services by customers, both individuals and companies, to reach 7,067 transactions from January to June of this year.
Geostrategy
Jordan elected to global body to end plastic pollution
Jordan won the direct election to become a member of the Intergovernmental Negotiating Committee to End Plastic Pollution, which is...
- Jordan won the election to become a member of the Intergovernmental Negotiating Committee to End Plastic Pollution
- The international body to find ways to end plastic pollution is expected to produce an agreement by 2024
Geostrategy
Jordan, Tunisia explore higher education cooperation
Jordan Minister of Education, Higher Education and Scientific Research Wajih Owais on Tuesday met Tunisian ambassador in Amman Khalid Suhaili...
- Jordan Minister of Education, Higher Education and Scientific Research discussed about higher education with Tunisian ambassador in Amman
- The two officials deliberated upon the establishment of a universities forum between the two nations
Business
Iraq to build four free-trade zones, two along Jordan and Saudi borders
Iraq plans to establish free-trade zones adjacent to Baghdad and Najaf airports and another one near the Iraqi-Jordanian border, which...
- Two free zones will be established adjacent to Baghdad and Najaf airports, says Iraq’s Free-Trade Zone Authority
- All the factors necessary for the success of the free industrial, commercial or multi-activity zones exist in the country, it adds
Economy
DEWA alert service reduce 217,370 tons of carbon emissions
Dubai Electricity and Water Authority (DEWA) has announced that its High-Water Usage Alert service has helped to reduce 217,370 tons...
- DEWA's High-Water Usage Alert service sends instant notifications to customers to quickly conduct necessary maintenance to reduce wastage
- These alert services helped identify 1,062,781 water leakage reports, 23,199 defects, and 11,566 cases of increased load
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
UAE announces monthly allowance of 50% of basic salary for imams, muezzins
Abu Dhabi, UAE - United Arab Emirates has announced a provision of a monthly financial allowance equivalent to 50 percent...
Company News
Latest News
DIFC forum to focus on optimizing treasury operations
Dubai, UAE - Standard Chartered will partner with the Dubai International Financial Centre (DIFC) in hosting the DIFC Treasury Leadership...
Business
UAE energy ministry announces Global EV Market transformational project
DUBAI, UAE - UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei on Tuesday announced the launch of...
Business
DFM launches futures contract on General Index
Dubai, UAE - The Dubai Financial Market (DFM) on Monday announced the offering of futures contracts on its General Index...
Business
Most Read
Business
RAKEZ highlights Ras Al Khaimah’s potential to Chinese business owners
RAS AL KHAIMAH, UAE - A top-level delegation from Ras Al Khaimah Economic Zone (RAKEZ) recently concluded its trip to...
- The RAKEZ delegation interacted with prominent Chinese business owners from a range of sectors.
- The team traveled through Shanghai, Suzhou, Qingdao, Tianjin, Guangzhou, Foshan, and Zhuhai.
Business
PIF sets up firm Badael to curb tobacco use in Saudi Arabia
RIYADH, SAUDI ARABIA- The Public Investment Fund (PIF) announced the establishment of Badael Company, which aims to develop, manufacture and...
- Badael aims to address the negative impact that smoking has on the well-being of the Saudi population.
- The company’s products are expected to help nearly one million people give up smoking by 2032.
Business
Ajman hotels posts 3% increase in revenues in Q1 2023
AJMAN, UAE - Ajman hotels and serviced apartments recorded a three percent growth in hotel revenues in the first quarter...
- Ajman tourism is looking for new ways to collaborate with local and international partners to advance the tourism sector by attracting new investments.
- The emirate of Ajman hosts 44 hotel establishments ranging from 1-star to 5-star hotels, resorts and luxury hotel apartments with 3,997 hotel rooms.