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
Business
Al Seer targets 2-3m tons cargo
ASM manages 5 dry bulk and general cargo ships.
- Al Seer Marine is currently in negotiations for a long-term contract for carriage of 2 million tons annually.
- The company has short-term plans of acquiring 10 to 15 ships in 2022.
Economy
7.1 GW of renewable energy under production in Saudi Arabia
Saudi Ministry of Energy has put forward renewable energy projects with a production capacity of 7.1 gigawatts (GWs), which are...
- The current production capacity of renewable energy projects is 700 megawatts.
- Energy projects are covered under the National Renewable Energy Program (NREP).
Economy
Abu Dhabi Maritime to sponsor Abu Dhabi International Boat Show
The Abu Dhabi International Boat Show (ADIBS), organized by the Abu Dhabi National Exhibitions Company (ADNEC), has entered into a...
- Abu Dhabi Maritime has a mandate to implement effective maritime services and state-of-the-art infrastructure
- The fourth edition of Abu Dhabi International Boat Show will take place this year from November 24 to 27.
Economy
‘Inflation a concern, equity markets favorable in GCC region’
A survey in the GCC region reveals that almost all the respondents believe that rising inflation will impact their cost...
- A survey in the GCC region reveals that people believe inflation will impact their cost of living by at least 10 percent
- Over 66 percent of the respondents said that they continue to view equity markets favorably
Economy
Over 30,000 visitors attend Al Dhaid Date Festival in Sharjah
The 6th edition of Al Dhaid Date Festival came to a successful conclusion at Expo Al Dhaid, after four days...
- The Al Dhaid Date Festival drew over 30,000 visitors who explored and learnt about the best and finest types of dates
- Sharjah Chamber of Commerce and Industry says it will spare no effort to promote and preserve the historical status of palm trees
Business
SAMA completes e-linking procedures through Tanfeeth program
The Saudi Central Bank (SAMA) has completed electronic linking procedures with the Saudi Center for Economic Business through the “Tanfeeth”...
- This program aims to directly link the technical systems of government agencies and banks operating in the kingdom through the Saudi Central Bank.
- The Central Bank stated that, through the “Tanfeeth” program, it aims to improve and develop joint business with government agencies.
Economy
Saudi Arabia’s overall exports in May 2022 was US$38.5bn
The Kingdom of Saudi Arabia’s overall merchandise exports increased by 83.4 percent in May 2022 compared to May 2021, the...
- Saudi Arabia’s overall merchandise exports increased by 83.4 percent in May 2022 compared to May 2021
- The share of oil exports in total exports increased from 72 percent in May 2021 to 80.6 percent in May 2022
Business
Saudi center to auction industrial properties in Riyadh
Saudi Arabia's Center for Attribution and Liquidation "Infath" will auction quality real estate in Riyadh on August 1, a media...
- The auctions offer 14 industrial real estate assets in eastern Riyadh, with large total areas estimated at more than 80,000 square meters.
- The real estate consists of three industrial lands in Al-Sulay district licensed to establish industrial workshops, and 11 lands licensed to establish warehouses.
Business
Borouge 4 expansion on track
EPC contractors are set to start construction this month.
- Upon completion, the project will boost the total annual production capacity of polyolefins produced in the UAE to 6.4 million tons.
- It will also supply feedstock for the TA'ZIZ Industrial Chemicals Zone.
Business
Saudi Arabia to pour in $5bn in poultry industry
Saudi Arabia will pour in $5 billion in the poultry industry in order to boost production as the kingdom looks...
- By targeting 1.3 million tons of broiler chickens per year, the ministry will ensure national food security, increase local content, and create employment opportunities
- Ibrahim Qassem, the director-general of the Animal Resources Services at MEWA, told media that the volume of livestock projects exceeded 980 across all regions of the kingdom
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Dubai Taxi Company net profit up 54%
The company will pay a dividend of $19.33 million for Q4.
Business
Company News
Latest News
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
Qatar Emir announces $60 million for Doha Program of Action
Doha, Qatar - Qatar Emir Sheikh Tamim ibn Hamad Al Thani announced Sunday a $60 million financial contribution to Doha...
Geostrategy
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),...
Arts & Culture
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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.
Business
Yahsat 2022 revenue up 6%
The company recorded a revenue of $433 million for 2022.
- For the twelve-month period, Yahsat delivered growth in revenue and adjusted EBITDA, which increased 6 percent and 7 percent respectively year-on-year.
- Other highlights include Adjusted EBITDA of AED946 million ($258 million), up 7 percent year-on-year, delivering a margin of 60 percent.
Economy
Khalifa Fund announces winner of CEO Program
ABU DHABI, UAE - Khalifa Fund for Enterprise Development, in partnership with the Abu Dhabi Department of Economic Development (ADDED)...
- The CEO program is a rigorous nine-month program that aimed to cultivate entrepreneurship and innovation skills.
- The program also helps build and grow ag-food tech ventures and contribute to the UAE's Food Security Strategy.