Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
Business
Saudi Arabia’s Purchasing Manager’s Index rises to 57.2 points in Feb
RIYADH, SAUDI ARABIA - The seasonally adjusted Riyadh Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia...
Economy
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.
Business
Aldar acquires Doubletree
DoubleTree by Hilton Resort & Spa Marjan Island is a beachfront resort.
- The property, which benefits from above-market average occupancy levels, is located on the first section of Al Marjan Island, a growing tourism hub.
- Aldar now has a total of over 4,250 keys, and brings Aldar’s total investment in Ras Al Khaimah to AED2 billion.
Business
Komainu set to bring digital asset custody services to Dubai
The Government of Dubai’s Virtual Assets Regulatory Authority (VARA) on Wednesday granted provisional regulatory approval to Komainu.
- The Government of Dubai’s Virtual Assets Regulatory Authority (VARA) on Wednesday granted provisional regulatory approval to Komainu
- Komainu acts as a key gatekeeper to institutions gaining exposure to the digital asset industry with the provision of secure and regulated digital asset custody services
Business
ADNOC awards $2bn in contracts
The contracts were awarded to ADNOC Drilling.
- The contracts comprise $1.3 billion (AED4.89 billion) for integrated drilling services and fluids and $711 million (AED2.6 billion) for providing four Island Drilling Units.
- A third contract, valued at $681 million (AED2.5 billion), was also awarded to ADNOC Logistics & Services for providing offshore logistics and marine support services.
Economy
Global economic growth slows amid gloomy, uncertain outlook: IMF forecast
Higher-than-expected inflation, especially in the United States and major European economies, is triggering a tightening of global financial conditions.
- Higher-than-expected inflation, especially in the United States and major European economies, is triggering a tightening of global financial conditions
- China’s slowdown has been worse than anticipated amid COVID-19 outbreaks and lockdowns, and there have been further negative spillovers from the war in Ukraine
Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
Business
Company News
DIEZ posts 42% revenue jump
Business
Latest News
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
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...
Science
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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.
Business
JCC discusses trade, commerce in economic summit in France
AMMAN, JORDAN - The Jordan Chamber of Commerce (JCC) took part in the fourth Arab-French Economic Summit 2023 in Paris....
- Jordan Chamber of Commerce spoke of closer ties with trade and commercial bodies in the European Union member states.
- Topics like environment and water, industry, modern construction projects, food, nutrition, healthcare, banking, medicine, funds, climate were discussed.
Business
UAE issues license for electric vertical takeoff and landing aircraft
DUBAI, UAE - The UAE Regulations Lab has issued a license for an electric cargo aircraft to promote eco-friendly transportation...
- The license aims at reducing carbon emissions by encouraging the adoption of clean energy and leveraging technology.
- It also aims at using innovation to redefine the logistics sector's future and its impact on the environment and climate.