flydubai adds two Saudi destinations
Flights to Al Jouf Airport and Red Sea Airport to start from April 18.
Business
Tabreed approves record dividend
The cash dividend of 15.5 fils per share was okayed at Tabreed's AGA.
Business
Business
UAE, Saudi achieve above 60 percent pre-Covid travel recovery
Travel recovery witnessed in the UAE and Saudi Arabia has been very strong, according to a survey of nearly 2,000...
- A total of 98 percent of respondents in Saudi Arabia and 95 percent in the United Arab Emirates have used airport lounges in the past. .
- Passengers from the UAE made an average of four return trips in 2021, which is a 67 percent recovery from the pre-pandemic average number of six return trips.
Arts & Culture
Funding crunch cripples Lebanon film industry
Before the Covid-19 pandemic and the country's worst-ever economic crisis, 20 to 30 films were produced in Lebanon. Today, it...
- Film producer Myriam Sassine told Kuwaiti News Agency (KUNA) that in 2000 only a couple of feature-length films were produced annually in the country.
- With EU’s help, a one-time $76,000 fund has been set up to support production of films in the country. Its efforts are likely to bear fruit in November.
Saudi PIF buys shares in Alphabet, Zoom, Microsoft
The Fund purchased 1.8 million shares of Microsoft, 4.7 million class A shares of Zoom, and 213,000 class A shares...
- The Fund purchased 1.8 million shares of Microsoft, 4.7 million class A shares of Zoom, and 213,000 class A shares of Alphabet
- It also acquired shares in JPMorgan and BlackRock, buying 3.9 million shares and 741,693 shares respectively
Economy
Qatar launches public consultation about National Blockchain Blueprint
The blueprint establishes the frame for blockchain at the national level and identifies its key elements; innovation and creativity.
- The blueprint establishes the frame for blockchain at the national level and identifies its key elements
- It underlines the potential of blockchain technology and the opportunities that it can offer to Qatar
Business
ACWA Power to sign $2.4bn wind power project deal in Uzbekistan
ACWA Power Company will join hands with Uzbekistan in order to enter into a $2.4 billion deal for a 1,500-megawatt...
- It will be the biggest onshore wind project in the region and will contribute 19 percent to Uzbekistan’s overall renewable energy goals
- The plant once completed will power 1.65 million households and offset 2.4 million tons of carbon emissions per year.
Business
Dallah reports 52% profit rise
The healthcare company saw its profit vault to $40m in H1.
- The company's stock however posted a 1.9 percent drop in early Tuesday trading, but then rebounded to close 0.9 percent higher at SR118
- The uptick in revenues came on the back of continued growth in operations and higher hospital admissions during the six-month period
Business
Abu Dhabi Airports teams up with ICP to boost passenger service
The partnership aims to achieve the highest levels of service excellence at all terminals and facilities of Abu Dhabi Airports.
- The agreement stems from Abu Dhabi Airports and ICP’s keenness to adopt best practices in areas of security, safety and air transport
- Shareef Hashim Al Hashmi, CEO of Abu Dhabi Airports, said the collaboration is intended to enhance passenger experience at Abu Dhabi airports
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.
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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
flydubai adds two Saudi destinations
Flights to Al Jouf Airport and Red Sea Airport to start from April 18.
Business
Company News
Latest News
Dubai Islamic Bank unveils digital banking services
Dubai, UAE - Dubai Islamic Bank launched DIB alt, a full-fledged digital umbrella brand to house all of the bank's...
Business
Jewels of Emirates continues to attract visitors on third day
SHARJAH, UAE- The fourth edition of Jewels of Emirates Show at the Expo Center Sharjah has so far seen record...
Business
DEWA extended 64km water transmission pipelines in 2022
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) extended water transmission pipelines of 64 kilometers lengths in several areas...
Business
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Business
Jewels of Emirates Show begins in Sharjah
SHARJAH, UAE - The fourth edition of the Jewels of Emirates Show, the first Emirati exhibition dedicated to diamond jewelry,...
- The Expo Centre Sharjah with the support of the Sharjah Chamber of Commerce and Industry (SCCI) is hosting the event.
- Sheikh Majid bin Faisal bin Khalid Al Qasimi, First Deputy Chairman of the Chamber, inaugurated the exhibition.
Economy
UAE exports to reach $544bn by 2030, says Standard Chartered report
DUBAI, UAE - The UAE is poised to play a pivotal role in global trade with its exports projected to...
- The report forecasts the global trade industry to reach US$32 trillion by 2030, with a projected growth rate of five percent.
- The report said that corridors anchored in Asia, Africa, and the Middle East are expected to outpace the global trade growth rate.
Economy
Saudi merchandize exports down 14.6% in Q1 as oil exports fall
Riyadh, Saudi Arabia -- Saudi Arabia's merchandize exports decreased by 14.6 percent in Q1 2023, compared to Q1 2022, a...
- The value of exports amounted to SAR 313.5 billion ($83.6bn) in Q1 2023, down from SAR 367.1 billion ($97.86bn) in Q1 2022.
- The decrease originated mainly from oil exports, which fell by SAR 43.1 billion ($11.47bn) or 14.9 percent in the same period.