Saudi Arabia to imprison, fine people for helping, employing illegal immigrants
RIYADH, SAUDI ARABIA – The Directorate of Public Security stressed that anyone who facilitates the entry, transfer or employment of...
Geostrategy
e& pledges $6 billion to advance connectivity in 16 countries
Barcelona, Spain -- e& Friday pledged to invest $6 billion between 2024 and 2026 in technological advancement, infrastructure development, and...
Business
Business
Aramco, SABIC receive world’s first blue hydrogen, ammonia certification
Saudi oil giant Aramco and SABIC Agro-Nutrients Company have obtained the world's first independent certifications recognizing the production of blue...
- TUV Rheinland, a system testing, inspection and certification services provider based in Germany, awarded these certifications to SABIC Agri-Nutrients Company in Jubail.
- SASREF, a wholly owned subsidiary of Saudi Aramco, produced 8,075 tons of blue hydrogen.
Geostrategy
UAE, Egypt discuss money laundering, terrorist financing
The heads of UAE and Egypt's anti-money laundering and counter terrorism financing and the UN's representative for drugs and crime...
- The heads of UAE and Egypt's anti-money laundering and counter terrorism met to discuss cooperation in counter terror measures
- The two sides reviewed the most prominent regional developments and coordination between the two countries
Business
Bupa Arabia’s profit dips by 16%
Its stock fell after it posted a drop in profit to $114m in H1.
- The company saw a big jump in payouts to $259 million on claims incurred during the six-month period
- The Saudi-based insurer said the decrease in profit was caused by a drop of 12.3 percent in underwriting income
Business
TECOM H1 profit jumps 43%
Revenue for the first half of 2022 increased 16%.
- Revenue for the first six months of 2022 increased 15.8 percent year-on-year (YoY) to AED989 million on increase in occupancy rates
- The EBITDA, or the earnings before interest, taxes, depreciation, and amortisation, for the first half of 2022 grew 22.4 percent YoY to AED723 million
Business
SNHC posts 122% jump in profit
Sharjah Hotels occupancy rate jumped to 67 percent in H1.
- The improved performance brought the hotel group closer to pre-pandemic levels in the second half of 2022, showing a steady return in customer confidence
- The hotel group is looking for opportunities to expand its portfolio of managed hotels and catering contracts
Business
Aramco, Sinopec to partner on projects in Saudi Arabia, China
This latest collaboration builds on existing joint ventures between the two companies.
- This latest collaboration builds on existing joint ventures between the two companies
- The companies will discuss the establishment of a manufacturing hub in King Salman Energy Park
Business
Hotel construction to see boom in Saudi Arabia: TOPHOTEL Projects
Saudi Arabia will see a boom in construction of hotels in 2023, with some 63,753 to be available for guests...
- According to the TOPHOTEL Projects, some 80 hotel projects in the kingdom are scheduled for completion next year
- Saudi Arabia has led the hotel construction market in the Middle East with some 37,654 rooms being built at the end of the second quarter of 2022
Economy
Saudi job numbers see big jump in July, highest in three years
Due to an improvement in business conditions in July, Saudi Arabia has posted a strong growth in job numbers in...
- The report said that the improved business conditions resulted in stronger demand for talents, which has now reached the highest since September 2019
- It further added that Saudi Arabia faced slightly lower inflation in July but still marked the second fastest price increase since August 2020
Economy
Qatar Broad Money Supply hits $185 billion by June 2022
Qatar’s Total Broad Money Supply (M2) recorded about QR 675.1 billion ($185.4bn) during June 2022, marking an increase of 9.3...
- Cash equivalents; including Commercial Bank Deposits, attained for approximately QR 984 billion during June 2022.
- The report noted the increase in deposits and credit facilities for commercial banks at a monthly rate of 1.7 percent and 0.7 percent.
Business
UAE accounts for 25 percent of MENA digital media subscriptions: Report
UAE’s publishing sector has grown by 150 percent during the current decade and it will reach $650 million in 2030,...
- UAE’s publishing sector has grown by 150 percent during the current decade and it will reach $650 million in 2030.
- The global media and entertainment services sector will reach $2.4 trillion in 2023.
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
Saudi Arabia to imprison, fine people for helping, employing illegal immigrants
RIYADH, SAUDI ARABIA – The Directorate of Public Security stressed that anyone who facilitates the entry, transfer or employment of...
Geostrategy
Company News
Latest News
UAE’s global merchandise trade crossed $1trn mark in 2022: WTO
Based on data from the WTO, the UAE's export values in 2022 grew by 41%, while imports made up 22%...
Economy
UAE, Vietnam begin process for economic partnership pact
Abu Dhabi, UAE - The UAE and Vietnam signed Thursday a declaration of intent to start negotiations for a comprehensive...
Business
IMF approves $5bn under flexible credit line for Morocco
Washington, USA - International Monetary Fund (IMF) approved SDR 3.7262 billion ($5 billion) on a two-year arrangement for Morocco under...
Economy
Most Read
Business
Abu Dhabi sees 40 percent drop in labor dispute cases
ABU DHABI, UAE - Labor disputes in Abu Dhabi plunged by 40 percent in 2022 compared to the same period...
- The companies and individuals' increased awareness of laws in force in the country played a key role in the results, official said.
- The Abu Dhabi Judicial Department ran multiple campaigns to enhance the knowledge of workers' rights under UAE's labor laws.
Business
DMCC posts record Q1 growth as 708 firms register
A total of 3049 new companies joined DMCC in 2022.
- This is DMCC's best performance in Q1 since its inauguration in 2002, marking a 8.4% increase year-on-year.
- The best performing sectors for DMCC was its traditional core markets, which showed strong results in businesses from various countries.
Arts & Culture
UAE highlights ways to enhance education system at UK meet
DUBAI, UAE - A UAE group highlighted its technological programs and initiatives aimed at boosting the educational system and reviewed...
- The UAE emphasized the significance of the event to explore the future of EdTech and ways to benefit from its applications.
- It has launched initiatives that attract international academic expertise to improve the integrated educational model.