Sovcomflot 2023 net profit $900m  Â
In 2023, the firm demonstrated strong financial results.
Business
Qatar real estate trading volume amounts to US$382m in February 2024
DOHA, QATAR – The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at...
Business
Business
Qatar records 19% jump in international tourist arrivals
Qatar has seen a nineteen percent increase in tourist arrivals with 729,000 visitors coming to the country in the first...
- In June alone some 149,000 visitors came to the country, marking the highest arrivals in the summer month in the last 5 years
- Qatar will unveil some 50 hotels by the end of the year, besides launching several tourism attractions such as kite beach resorts and Lusail Winter Wonderland
Business
Union Properties’ profit rises
The Dubai-based firm posted net profit of $77,603 in Q2.
- The developer merged three of its existing business units to improve efficiency and productivity across the business,
- Union Properties expects improvement in profitability through efficient resource and asset utilization, economies of scale and cost rationalization
Business
Dubai Chambers gets new CEO and President
Dubai Chambers has announced a leadership change, with Hamad Buamim, President and CEO, moving on after 16 years of service....
- He replaced Hamad Buamim, who was the President and CEO of Dubai Chambers for past 16 years.
- Under Buamim, the membership of Dubai Chambers by over four times from 80,000 to over 320,000.
Geostrategy
UN chief calls for global nuclear disarmament
It is totally unacceptable for states in possession of nuclear weapons to admit the possibility of a nuclear war, United...
- The UN Secretary-General warned that a new arms race is picking up speed and world leaders are enhancing stockpiles at a cost of hundreds of billions of dollars
- Guterres called the current Review Conference of the Treaty on the Non-Proliferation of Nuclear Weapons in New York a "sign of hope".
Science
Sustainable research centers in UAE being built on SDME designs
Several regions across the UAE are witnessing the implementation of the designs of some of the teams that participated in...
- In the UAE many sustainable research centers based on the designs of the teams participating in the first and second Solar Decathlon Middle East are being constructed
- SDMEs were organized by Dubai Electricity and Water Authority as part of its, Dubai Supreme Council of Energy and the US Department of Energy partnership
Economy
Major fall in global food prices in July, says FAO
Food prices dropped significantly in July, marking the fourth consecutive monthly decline since record highs earlier this year in the...
- Food prices dropped significantly in July, marking the fourth consecutive monthly decline since hitting record highs earlier this year in the wake of the developments in Ukraine
- The decline was led by double-digit percentage drops in the cost of vegetable oils and cereals
Khalifa Fund offers US$30 million to support SMEs in Kenya
The agreement aims to promote entrepreneurship and develop Small and Medium Enterprises (SMEs) in Kenya.
- The agreement aims to promote entrepreneurship and develop Small and Medium Enterprises (SMEs) in Kenya
- Under the agreement, more than 3,000 projects with 40 percent allocated for women will be financed nd are expected to generate nearly 13,000 job opportunities
Geostrategy
British delegation and SIRA explore security cooperation
A British Home Office security delegation has met with the officials from the Security Industry Regulatory Agency (SIRA) to discuss...
- The CEO of SIRA Khalifa Ibrahim Al Saleis received the delegation and the British Embassy officials
- The British delegation paid a visit to the Security Training Affairs Department that develops a variety of latest security training courses
UAE to invest $1bn in Pakistani companies across various sectors
The move aims to explore new investment opportunities and areas for cooperation in the best interest of the two countries.
- The move aims to explore new investment opportunities and areas for cooperation in the best interest of the two countries
- The two countries will cooperate in various fields, including gas, energy infrastructure, renewable energy, logistics etc
Business
Masdar, TANESCO JV to develop renewable energy projects in Tanzania
As a first step, the two companies intend to develop solar photovoltaic (PV) and onshore wind projects with a capacity...
- As a first step, the two companies intend to develop solar photovoltaic (PV) and onshore wind projects with a capacity of about 600MW
- The joint venture will further explore the development of projects with a total capacity of at least 2,000MW
Sovcomflot 2023 net profit $900m  Â
In 2023, the firm demonstrated strong financial results.
Business
Company News
VOX Cinemas unveils debut slate of original Arabic films
Arts & Culture
Latest News
UAE, Morocco discuss ways to strengthen trade relations
Rabat, Morocco - The UAE is keen to strengthen economic and trade relations with Morocco, in a way that enhances...
Business
Arabian Travel Market unveils Monday in Dubai
DUBAI, UAE - The 30th edition of Arabian Travel Market (ATM) will open Monday at Dubai World Trade Center (DWTC),...
Business
MoHAP inks deal with Coursera to upgrade skills of employees
The agreement also provides for the creation of a cohesive relationship between the ministry's strategic priorities and training needs, as...
Geostrategy
Most Read
AI key to global opportunities, practical solutions
"Projections indicate that AI solutions are set to contribute an estimated $13 trillion to the global GDP by 2030, optimizing...
- Key research projects at MBZUAI focus on sustainable environment, infrastructure, healthcare, education, and large language models, says an official
- AI has the potential to contribute to the UAE's net-zero strategic initiative by reducing greenhouse gas emissions and advancing climate progress
Business
DET to highlight Dubai’s tourism in Arabian Travel Market
DUBAI, UAE - Dubai’s Department of Economy and Tourism (DET) is likely to display the diversity of the Emirate's destination,...
- DET is supposed to highlight how the city’s tourism industry is supporting the journey towards achieving the UAE’s Net Zero 2050.
- DET will showcase cuisine from Emirati businesses and local, homegrown brands whilst ensuring that all giveaways are sustainable.
Business
Ajman real estate transactions reach $930 million in first quarter
Ajman, UAE - Total real estate transactions in Ajman in the first quarter (Q1) of 2023 totaled AED3.4 billion ($930...
- The quarterly report on real estate transactions in the emirate registered 555 mortgage applications worth $207.23 million.
- Meanwhile, Local real estate transactions totaled AED1.4 billion ($380m), a rise of 34 percent compared to January.