DMCC registers 2,692 new companies in 2023, its second-best year on record
Dubai, UAE -- A total of 2,692 new companies joined Dubai Multi Commodities Centre (DMCC) last year, bringing the total...
Business
Over 105m people visit Dubai Mall in 2023
DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on...
Business
Business
dnata extends partnership with GOL Airlines in Brazil
The travel services provider’s latest contract win cements its position as the leading ground services provider in Brazil.
- The travel services provider’s latest contract win cements its position as the leading ground services provider in Brazil
- The company offers ground handling, cargo, travel, catering and retail services in 37 countries across six continents
Business
Agthia’s profit surges 74%
Group net profit attributable to shareholders rose to $32m.
- The period ending June 30, 2022 saw a 51 percent year-on-year growth in net revenues compared with the same period in 2021
- Group net profit attributable to shareholders grew to AED 118 million ($32 million) for the period, a 74 percent increase relative to H1 2021
Business
ADNOC Drilling gains 2 contracts
The company will hire eight jack-up offshore rigs.
- The contracts, valued at $1.5 billion (AED 5.6 billion) and $1.9 billion (AED 7 billion), awarded by ADNOC Offshore.
- These will support the expansion of ADNOC’s crude oil production capacity to 5 million barrels per day by 2030 and enable gas self-sufficiency for the UAE.
Business
Amanat Holdings profit up 7%
The company posted H1 income of $26.33m.
- This income is on an adjusted basis, excluding the prior year's gain on sale and trading results from divested entities.
- In H1 2022, Amanat's healthcare platform continued to record strong year-on-year growth.
Business
Ethiopian delegation visits Dubai to explore digital services
An Ethiopian delegation of 10 members, comprising decision-makers from the public and private sector, visited Dubai Chambers between July 25-...
- The delegates sought to review Dubai’s success in digital services, and discuss creating potential business partnerships
- The visit included signing deals supporting the Digital Ethiopia 2025 strategy, and exchanging knowledge and expertise.
Business
DAE posts H1 profit of $140.1m
Its profit increased 186 percent in first six months of 2022
- Dubai Aerospace Enterprise reports 186% growth in profit in the first six months of 2022
- DAE says cash flows from operating activities increased by 36 percent to $678.5 million.
Economy
UAE citizens’ housing gets help of over $6.8bn in 2022
The UAE’s citizens' housing segment in 2022 achieved significant regulatory progress and received massive financial allocation for federal, local plans...
- The UAE’s citizens' housing segment in 2022 achieved significant progress and got massive financial aid for federal and local plans
- On May 9, the Cabinet adopted a federal housing loan policy to provide loans via partnerships with private sector and national banks.
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
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DMCC registers 2,692 new companies in 2023, its second-best year on record
Dubai, UAE -- A total of 2,692 new companies joined Dubai Multi Commodities Centre (DMCC) last year, bringing the total...
Business
Company News
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Dubai records $450 million in real estate transactions: DLD
Dubai, UAE - Dubai's real estate market recorded real estate deals worth AED1.8 billion on Monday, Dubai Land Department said....
Business
Cementing ties: Iran invites Saudi Arabia’s king to visit Tehran
The two countries had severed ties seven years ago after Saudi Arabia executed a revered Saudi shia cleric Sheikh Nimr...
Geostrategy
Delegation highlights investment opportunities in Ras Al Khaimah
RAS AL KHAIMAH, UAE - A delegation from Ras Al Khaimah Economic Zone (RAKEZ) has concluded its visit to Russia...
Business
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Economy
Ajman Bank, EIH ink deal
The bank will act as a strategic partner during listing of EIH.
- Ali El Gebely, Managing Director and CEO of EIH, said the partnership aims to build real value for the future of investment through strategic partnerships.
- Established in 2007, Ajman Bank is an Islamic commercial bank that listed on the Dubai Financial Market in 2008.
Science
UAE’s Rashid Rover to land on Moon on April 25
The Mohammed Bin Rashid Space Center in UAE said that Rashid Rover, onboard the HAKUTO-R Mission 1 Lunar Lander, is...
- During the landing sequence, the Lander will perform a braking burn, firing its main propulsion system to decelerate from orbit.
- Utilizing a series of pre-set commands, the Lander will adjust its altitude and reduce velocity to make a soft landing.
Business
Abu Dhabi QCC drives emirate’s infrastructure development in 2022: Report
Abu Dhabi, UAE - Abu Dhabi Quality and Conformity Council (QCC) has made strides in developing the quality infrastructure of...
- In 2022, the Council approved 26 new technical documents, reviewed 22 draft specifications and technical regulations.
- The report said that the council has conducted over 5 million laboratory examinations since 2014, 606 main services and over 2,394 sub-examinations.