UAE-based banks aggregate capital, reserves reach US$131bn by end of November 2023
ABU DHABI, UAE- The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching US$131 billion...
Business
Saudi Arabia’s oil exports fall by $13 billion in fourth quarter of 2023
In December, oil exports fell by SAR 13.5 billion or 15.8% to SAR 72 billion ($19 billion) from SAR 85.5...
Business
Economy
US Fed decision impacts key policy rates across GCC
While Saudi apex bank has raised its repurchase rate by 75 bps to 3%, and its reverse repo rate by...
- Hours after the US Federal Reserve hiked its key interest rates by 75 bps, the GCC countries followed the suit and increased their policy rates by the same margin
- While the Fed’s step was aimed at combating the soaring inflation, the regional economies followed the US moves as their currencies are pegged to the dollar
Business
21 business, investment deals boost KSA-Greece ties
The agreements cover logistics and transportation, renewable energies, manufacturing, environment services, aquaculture, defense, trade, engineering and agriculture.
- The bilateral agreements cover logistics and transportation, renewable energies, manufacturing, environment services, aquaculture, defense, trade, engineering and agriculture
- 32 representatives from Greek firms, chambers of commerce and trade associations attended the event, taking part in B2B and G2B meetings to explore business opportunities
Economy
Abu Dhabi Chamber, Philippine Business Council discuss ties
A delegation from the Philippine Business Council, headed by Prof. Gau Raganit, visited the Abu Dhabi Chamber of Commerce and...
- Abu Dhabi Chamber, Philippine Business discuss strengthening relations between the Chamber and Filipino investors
- The two sides discuss increasing the level of cooperation in diverse sectors of mutual interest
Business
IFZA, CBD ink banking deal
Opening corporate bank accounts to become easier for free zone firms.
- The free zone companies will now be able to also obtain personalized services.
- A study by Dubai Chamber of Commerce said entrepreneurs face a lot of issues in opening a corporate bank account in UAE.
Business
Tabreed H1 profit $65 million
The profit saw an increase of 3 percent over H1 2021.
- Total connected capacity reached 1,241,331 Refrigeration Tons (RT); 31,235 Refrigeration Tons (RT) of new customer connections added.
- Group revenue increased by 12.3 percent to AED 975.7 million (H1 2021: AED 869.0 million).
Economy
More than 10 million visit UAE govt portal in first half of this year
The Telecommunications & Digital Government Regulatory Authority (TDRA) said that over 10 million people visited the Official Portal of the...
- Over 24 million pages were viewed through the visits to U.AE portal in H1 of 2022
- These results indicate the high value of U.AE as a prime source of information and services
Infographics
Beirut named most expensive city in Arab world
The cost of living in Beirut is also more than its purchasing power, which is the lowest among Arab cities....
- Cost of Living Index measures compares expenses an average person incurs on goods and services in different regions.
- The Index is also used to track how much the costs of basic expenses rise over a period.
Market Report
ADX market value rises in Q2, 2022 to US$542.42bn
Abu Dhabi Securities Exchange has recorded its highest rise in terms of market value and trading value at end of...
- The ADX ranked first in Arab region in terms of market value increase, says the Arab Monetary Fund
- The Abu Dhabi Securities Exchange rose from $513.19bn at the end of Q1 of 2022 to $542.42bn in Q2 of 2022
Business
‘Most IT security officials believe firms threat strategy poor’
A global survey conducted among 2,100 IT Security Decision Makers (ITSDMs) reveals that 60 percent of respondents believe their organizations...
- Only 16 percent of respondents in the UAE and Saudi Arabia say they are able to keep pace with the threat landscape
- Most organisations (91 percent) surveyed in the UAE and Saudi Arabia experienced identity-related security breach in the past 18 months.
Business
NMDC, James Fisher sign MoU
They will collaborate on key oil and gas projects.
- The two groups will focus initially on exclusive diving projects in the Middle East and turnkey decommissioning opportunities in the North Sea and internationally.
- They will develop a series of collaborative joint ventures and consortia to deliver major projects across multiple sectors, markets, and geographies.
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UAE-based banks aggregate capital, reserves reach US$131bn by end of November 2023
ABU DHABI, UAE- The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching US$131 billion...
Business
Company News
Latest News
Saudi Arabia meet discusses upcoming GCC-UK free trade negotiations
Riyadh, Saudi Arabia -- A meeting was held in Riyadh Thursday to prepare for holding the third round of free...
Business
Saudi Arabia’s Film AlUla launches platform for women in cinema, fashion
The launch is part of a year-round program that will allow women filmmakers to collaborate with leading industry professionals and...
Arts & Culture
UNCTAD rallying global action to assist 46 least developed countries
UNCTAD’s Secretary-General Rebeca Grynspan and Deputy Secretary-General Pedro Manuel Moreno will lead the organization’s delegation to the fifth UN conference...
Geostrategy
Most Read
Arts & Culture
Sharjah Consultative Council approves heritage policy
SHARJAH, UAE - The Sharjah Consultative Council (SCC) approved recommendations regarding the policy of the Sharjah Institute for Heritage (SIH),...
- The Sharjah Consultative Council said that a database of craftsmen should be prepared.
- The SCC said craftsmen should be granted licenses to practice their crafts.
Geostrategy
UAE, Italy enhance bilateral relations to Strategic Partnership level
ABU DHABI, UAE - The United Arab Emirates and Italy on Saturday announced the enhancement of their bilateral relations to...
- A pact for cooperation on energy projects and sustainability initiatives between Abu Dhabi National Oil Company and the Italian energy group Eni was signed.
- The MoU aims to strengthen cooperation in the field of emissions reduction, new energy technologies and low-carbon solutions.
Business
UAE records fastest growth rate in 10 years, says economy minister
Abu Dhabi, UAE - UAE's Minister of Economy Abdullah bin Touq Al Marri said Wednesday that in 2022, the UAE...
- The country is implementing comprehensive economic initiatives to increase the capacity of the national business environment to attract capital.
- The UAE has utilized advanced technologies to develop capacities and meet the growing demand in these sectors.