Dubai Taxi Company net profit up 54%
The company will pay a dividend of $19.33 million for Q4.
Business
Real estate transactions worth over US$74m take place in Qatar in week
DOHA, QATAR - The volume of real estate trading in the country in sales contracts at the Department of Real...
Business
Economy
Jordan draws up public sector modernization plan
Jordan king Abdullah urged coordination among state institutions to ensure the implementation of the modernisation roadmap.
- Jordan king Abdullah urged coordination among state institutions to ensure the implementation of the modernisation roadmap
- Prime Minister Khasawneh said that the roadmap identified seven pillars as top priorities for improvement and modernisation of public services
Business
OPEC picks Haitham Al-Ghais of Kuwait as new chief
Haitham Al-Ghais of Kuwait has taken over as the new secretary general of the Organization of the Petroleum Exporting Countries...
- He is the first Kuwaiti to hold the position of OPEC chief, and will head the group for three years
- The Kuwaiti oil executive will replace Nigerian Mohammad Barkindo, who died in July
Business
Arab Bank H1 profit $252m
The profits grew by 38 percent to $252 million.
- The Group maintained its strong capital base with a total equity of $10.2 billion.
- The Group loan portfolio grew by 6 percent to reach $35.7 billion as of June 30, 2022 compared to $33.8 billion for the same period last year.
Business
Grape and Seasonal Fruit Festival begins in Saudi province
The four-day Grape and Seasonal Fruit Festival began in Asir region of Saudi Arabia on Sunday. The festival will be...
- The festival will be attended by 35 farmers who will display the products of their own farms, such as numerous varieties of grapes.
- The date of the festival coincides with the Abha Summer Festival 2022.
Geostrategy
Saudi Arabia, Poland sign agreement on air transport
Saudi General Authority of Civil Aviation (GACA) signed a Memorandum of Understanding (MOU) with Poland to organize the operational framework...
- From the Saudi side, Ali Rajab, Executive Vice President at GACA -Economic Policies & International Cooperation signed the MoU
- From the Polish side, Piotr Samson, President of the Polish Civil Aviation Authority inked the pact in Warsaw
Business
Hamriyah Free Zone and Rafid to set up technical center
The Hamriyah Free Zone Authority (HFZA) has partnered with Rafid Automotive Solutions to establish an integrated technical center within the...
- The center will provide vehicle repair, maintenance, inspection, as well as registration services and roadside assistance.
- The agreement will also fuel the effort by both parties to upgrade their services to investors in free zones, HFZA said.
Arts & Culture
Sheikh Hamdan bin Zayed issues directives for ADIHEX 2022
Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region and Chairman of the Emirates Falconers’ Club (EFC),...
- Chairman of the Emirates Falconers’ Club has issued directives for development of the strategy of Abu Dhabi International Hunting and Equestrian Exhibition
- The development of ADIHEX strategy is to enhance its role in preserving UAE's cultural heritage, protecting the environment and promoting sustainable hunting
Business
CBUAE hikes DBR of SZHP loan beneficiaries to 60%
The Central Bank of the UAE (CBUAE) has decided to increase the debt burden ratio of the beneficiaries of home...
- The notice included details of the CBUAE decision, in agreement with SZHP and in line with Article (5) of the Regulations Regarding Mortgage Loans, issued in 2013
- The decision also stated that UAE nationals, with long-term loans, shall be provided the flexibility to obtain housing loans of SZHP
Dubai sets off drive, warning of ‘human trafficking in digital space’
Seeking to raise awareness on trafficking in people, the Dubai Foundation for Women and Children (DFWAC) has set off a...
- The campaign has warned against the potential hazards of digital space and current technologies that lack parental control
- The foundation has urged the public to use the Internet and social media responsibly in order not to be victimized by human traffickers
Business
GCC ups oil supply to Japan, fulfills 94% of its demand
Saudi Arabia and the UAE have supplied around 80 percent of Japan's oil demand for the month of June, followed...
- Saudi Arabia provided 27.39 million barrels, an increase from the previous month of 27.10 million barrels, 27.14 million barrels came from UAE
- In June, for the first time in years, there were no oil imports from Russia
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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
Dubai Taxi Company net profit up 54%
The company will pay a dividend of $19.33 million for Q4.
Business
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Will Gulf economies expand despite global woes?
Infographics
AI partnership to boost Abu Dhabi sustainability efforts
Abu Dhabi, UAE - The Technology Innovation Institute (TII) said Monday its AI and Digital Science Research Center (AIDRC) has...
Economy
UAE urges investment, action for water sustainability at UN meet
DUBAI, UAE – UAE Minister of Climate Change and Environment Mariam bint Mohammed Almheiri emphasized the importance of collaboration, data...
Science
UAE, Pakistan discuss ways to enhance mutual trade, investment
The UAE accounts for over 40% of Pakistan's trade with Arab countries, with non-oil exports from the UAE to Pakistan...
Business
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Science
SEWA discusses water desalination technologies for sustainability
SHARJAH, UAE - Sharjah Electricity, Water and Gas Authority (SEWA) participated in a discussion on modern and innovative technologies in...
- SEWA seeks to increase desalinated water production in Sharjah by establishing a plant in Hamriyah to produce 90 million gallons daily.
- SEWA also wants to raise the production efficiency of Al Hamriyah plant to a maximum capacity of 20 million gallons of clean water per day.
Business
China third-largest investor in UAE, its top trading partner
The mutual investments between the two countries are witnessing continuous growth in various economic and commercial sectors, most notably real...
- Bilateral investments between the UAE and China reached nearly AED 44 billion (US$12 billion) until early in 2021.
- Value of non-oil intra-trade between the two countries amounted to more than AED 264.2 billion (US$72 billion) in 2022.
Science
EU unveils plans to scale up net-zero technology
BRUSSELS, BELGIUM- The European Commission proposed the Net-Zero Industry Act to scale up manufacturing of clean technologies in the EU...
- The Act aims to enhance the resilience and competitiveness of net-zero technologies manufacturing in the EU, while making energy system more sustainable.
- EU seeks to increase overall strategic net-zero technologies manufacturing capacity approaches or reaches at least 40 percent of the Union's deployment needs by 2030.