UAE, Hungary ink pact to enhance trade, investment ties
ABU DHABI, UAE – The United Arab Emirates and Hungary have signed an economic cooperation agreement aimed at stimulating trade...
Geostrategy
Situation in Red Sea has a limited impact on food exports so far, says FAO
ROME, ITALY – The situation in the Red Sea has not yet been reflected in the pace of prices for...
Economy
Economy
Saudi economy, GDP see upswing in H1 2022
Real GDP increased at a growth rate of 11.8% in Q2 2022, driven by the significant increase in oil activities...
- The report says Saudi Arabia's economy and GDP are on an upswing due to several factors
- Even the World Economic Outlook July 2022 projected the Kingdom to record highest GDP growth among G20 countries.
IGCF 2022 to be held on September 28, 29
The forum will analyse the socioeconomic and community trends that will determine the next stage of government communications regionally and...
- The forum will analyse the socioeconomic and community trends that will determine the next stage of government communications regionally and around the world
- It will also spotlight the latest tools and methodologies governments can leverage to communicate with the public during unforeseen or unusual circumstances
Business
Halwani Bros’ profit falls by 65%
The profit fell to $5m in HI due to rising cost of raw materials.
- The food company said the devaluation of the Egyptian currency also weighed on profits from its subsidiary in Egypt
- The rising raw material costs and increased marketing costs due to global inflation were also responsible for weaker financial results
Economy
World Green Economy Summit in Dubai supports UAE COP28
Since its launch in 2014, the WGES has succeeded in galvanising global efforts to promote the shift towards a green...
- Since its launch in 2014, the WGES has succeeded in galvanising global efforts to promote the shift towards a green economy
- The WGES also plays a key role in supporting the UAE’s outstanding climate action efforts and its commitment to sustainability
Business
Saudi Arabia’s Kingdom Holding to invest $3.4bn in next 3 years
The company completed its earlier investment program during the period between the second quarter of 2020 and Q2 2022.
- The company completed its earlier investment program during the period between the second quarter of 2020 and Q2 2022
- It invested in diverse sectors with a proven track-record of growth and strong financial position
Economy
Egypt to issue international bonds worth $6 billion
More than a year after it issued bonds for the Japanese market, Egypt intends to issue another tranche of international...
- Egypt offered $500 million worth international bonds for the first time denominated in the yen in the Japanese market
- Egypt plans to obtain external financing by about $7.62 billion, which means an increase in the volume of external financing by about 87 percent over last year
Business
Sharjah unveils ‘Holiday Homes Project’ to boost economy
The first phase of the project includes organizing field visits and inspection campaigns, as well as electronic or digital follow-up...
- SCTDA has mandated that the residential units be rented out on a rotational basis, regularly.
- The project will also empower prospective users with a new source of income recognized by the Government of Sharjah
Business
GIG H1 net profit $48.9 million
Improvement in underwriting and investment push profits up.
- The company said the rise in net profit was due to the improvement in the Group’s underwriting and investment performance compared to the same period last year.
- The total assets for the first half of the current year reached KD 1.34 billion, compared to KD 0.8 billion, an increase of 67.3 percent.
Economy
In Dubai 305m riders use public transport in H1 2022
Dubai’s Roads and Transport Authority (RTA) announced that the number of riders using public transport and shared mobility clocked nearly...
- The number of riders using public transport was 36 percent for Dubai Metro and 29 percent for taxis
- March 2022 was the busiest of all months recording 62 million riders
Economy
Electronic payments overtake cash in Saudi Arabia in 2021
The Saudi Central Bank (SAMA) said a study revealed that electronic payments increased from 44 percent in 2019 to 62...
- The Saudi Central Bank said a study revealed that electronic payments increased from 44 percent in 2019 to 62 percent by volume in 2021
- In the business sector, the share of electronic payments reached a substantial 84 percent of all payments in 2021
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UAE, Hungary ink pact to enhance trade, investment ties
ABU DHABI, UAE – The United Arab Emirates and Hungary have signed an economic cooperation agreement aimed at stimulating trade...
Geostrategy
Company News
Latest News
KEZAD, Al Eskan Al Jamae merge
Business
SCCI discusses trade with Guatemalan, Indonesian delegations
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has discussed strengthening trade and economic ties with diplomatic...
Geostrategy
Environment ministry reclassifies 64 air quality monitoring stations in UAE
DUBAI, UAE - As part of the Year of Sustainability initiative, UAE Ministry of Climate Change and Environment (MOCCAE) has...
Science
Art Dubai 2023 generates US$39m in economic impact, says new study
DUBAI, UAE - Art Dubai, the leading international art fair for the Middle East and Global South, on Sunday announced...
Economy
Most Read
Geostrategy
UAE to implement support scheme for low-income farm owners
DUBAI, UAE - The Ministry of Community Development and Etihad Water & Electricity have announced the implementation mechanism of the...
- The support aims to reduce the financial burden related to electricity bills, as part of an integrated and holistic approach to help low-income families in UAE.
- Beneficiaries can check the monthly support amount by referring to their farms’ consumption bill through Etihad Water & Electricity’s service channels.
Geostrategy
UAE discusses clean energy partnerships with Germany, Netherlands
ABU DHABI, UAE - A senior UAE official of the Ministry of Energy and Infrastructure (MoEI) visited Germany and the...
- Over 11,500 decision-makers, energy ministers and CEOs from over 100 countries participated in the World Hydrogen Summit 2023 in Netherlands.
- A senior UAE official provided an overview of the country's energy transition, with a focus on its hydrogen industry.
Business
MoFAIC, Burjeel Holdings ink MoU on healthcare services
ABU DHABI, UAE - UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC) and Burjeel Holdings have signed a Memorandum...
- MoFAIC said that it seeks to enhance the quality of life via comprehensive and proactive health and therapeutic services.
- Burjeel Holdings said their healthcare professionals are committed to ensuring the well-being of MoFAIC's employees.