Tabreed approves record dividend
The cash dividend of 15.5 fils per share was okayed at Tabreed's AGA.
Business
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
Economy
Exports drive growth in Saudi and UAE
Saudi and the UAE's reliance on oil to drive economic growth has tapered off in recent years as the non-oil...
- In May Saudi Arabia's non-oil sector of the economy continued strong growth, notching its 21st consecutive month of expansion
- In the United Arab Emirates, non-oil sector grew in May to a five-month high as demand remained strong despite inflationary pressures
Business
SABIC profit surges to $2.1bn
The Saudi firm's net profit was fueled by higher sales volume.
- Analysts had predicted a 23-percent decrease in profit along with a 25.7 percent surge in sales
- SABIC Agri-Nutrients, which posted a 262 percent rise in quarterly profit, also beefed up the company’s performance
Business
IHC H1 profit surges to $3bn
The company slew of acquisitions helped its earnings.
- The performance across all IHC subsidiaries has resulted in a strengthening of the conglomerate’s balance sheet
- The company's strategic acquisition of companies in H1 2022 had a positive impact on the organisation's net worth
Business
Apple to open outlet in Riyadh
The firm will sell its full range of products and spare parts.
- The Saudi investment minister Khalid Al-Falih told media that said several international companies, including Google, Alibaba, Microsoft and IBM, intend to invest in the kingdom
- The minister said that investments will be coupled with the development of human resources through partnership of these companies with academies, universities and training centers
Business
Mubadala to buy Canada Cartage
Canada Cartage provides national fleet solutions.
- Canada Cartage has a wide network of 33 facilities across Canada and has two business segments, Dedicated Transportation and Logistics
- Mubadala's Head of Private Equity Adib Martin Mattar said Canada Cartage operates in a sector in which "we have significant expertise, which is business services"
Economy
Sharjah steps up emergency response to extreme weather conditions
More than 3,400 rescue and evacuation operations were conducted in the eastern regions of the emirate by the Sharjah Police...
- More than 3,400 rescue and evacuation operations were conducted in the eastern regions of the emirate by the Sharjah Police General Headquarters
- In flood-hit Kalba, 2,069 residents were moved into schools, while nurses were transferred from Fujairah to support medical efforts at Kalba Hospital
Sharjah supports low-income families with $3 million
The Sharjah Charity International has provided $3 million assistance in the first half of this year.
- The Sharjah Charity International has provided $3 million assistance in the first half of this year
- The society relies on the charitable contributions of benefactors to support deserving families
Economy
UAE’s Q1 public spending rises by nearly 20 percent to $23.79 billion
The UAE’s public spending in the first quarter of 2022 totaled AED87.4 billion ($23.79 billion), an increase of 19.6 percent...
- AED28.7 billion spent on employee compensation payments, compared to AED24.6 billion in the same reporting period in 2021.
- Revenues amounted to AED123.8 billion in the first quarter of 2022, an increase of 39.1 percent or equivalent to AED34.8 billion, compared to AED88.9 billion in Q1 2021.
Geostrategy
Jordan, Canada to forge cooperation in food and water security
Jordan and Canada on Sunday discussed enhancing bilateral development cooperation, especially in food and water security. Jordan’s Minister of Planning...
- Canada is expected to support the education sector and vocational and technical education in Jordan.
- The two sides agreed to renew the MoU signed in 2015 between both countries to identify the areas where Canada could support Jordan.
Business
Qatar Chamber to promote investment in country during world cup
Qatar Chamber would issue a guide to economic and commercial activities in Qatar 2022, aiming to promote its economy and...
- Qatar Chamber General Manager Saleh bin Hamad Al Sharqi stressed the promotion of economy and investment climate.
- Bin Hamad noted FIFA WC 2022 is a key opportunity to introduce the Qatari economy and the advantages of investment in Qatar.
Tabreed approves record dividend
The cash dividend of 15.5 fils per share was okayed at Tabreed's AGA.
Business
Company News
Latest News
Jordan, India explore economic cooperation
Geostrategy
Masdar, IRENA ink pact on tripling global renewable energy capacity by 2030
ABU DHABI, UAE - Masdar has signed an agreement with the International Renewable Energy Agency (IRENA) to cooperate on a...
Science
UN says over 700,000 displaced within Sudan since beginning of conflict
Heavy fighting in Sudan has displaced 700,000 people within the country since the middle of April, the United Nations said,...
Geostrategy
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Economy
UAE Federal Treasury Sukuk Program appoints ADIB as primary dealer
ABU DHABI, Â UAE - Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has been appointed as a primary...
- This new program has been launched by the federal government of the UAE, through the Ministry of Finance (MOF).
- The program aims to issue Sukuk through Shariah-compliant structures as approved by the Higher Shari’ah Authority.
Geostrategy
Iraqi PM, Lebanese minister discuss economic cooperation
BAGHDAD, IRAQ - Iraq Prime Minister Muhammad Shia'a Al-Sudani said that the country is continuing regional economic communication. A statement...
- Iraq Prime Minister said that the country is continuing regional economic communication.
- Iraq supports stability and economic growth for itself and other friendly nations
Geostrategy
UAE minister calls for using digital tech in building peace
New York, USA - Omar Sultan AlOlama, UAE's Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications,...
- The UAE minister said it is important to address hate speech, racism, intolerance and other forms of extremism.
- He said issues like climate change, extremism, health emergencies could be solved by boosting peacebuilding architecture.