e& 2023 net profit is US$2.8bn
e& said the net profit is a growth of 3 percent year-over-year.
Business
Saudi National Bank launches US dollar-denominated sukuk
RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle. The sukuk are offered to qualified...
Business
Economy
Dubai retains spot as world’s top tourism FDI destination in 2021
Dubai has retained its top rank worldwide for attracting foreign direct investment (FDI) into tourism in 2021. With AED6.4 billion...
- With $1.74 bn in FDI across 30 FDI projects during the year, Dubai ranked number one in FDI capital, projects, and job creation in the tourism sector.
- Dubai welcomed 7.28 million international overnight visitors in 2021, representing a 32 percent year-over-year growth.
Geostrategy
UAE announces fund to develop and launch advanced satellites
UAE Space Agency on Sunday announced a new AED3 billion ($816 million) national investment and development fund for the space...
- The Fund’s first project to be launched to space will be a constellation of advanced remote sensing satellites using radar technologies to provide advanced imaging capabilities.
- The Fund will encourage partnerships between international and local enterprises, providing them with incentives as a part of the UAE Space Agency’s Space Economic Zones Program.
Geostrategy
Iraqi PM calls for joint efforts to tackle issues facing region
Iraqi Prime Minister Mustafa Al-Kadhimi said the Middle East has been affected by climate change, water crisis, dangers of desertification,...
- The Middle East has been affected by climate change, water crisis, dangers of desertification and COVID-19 pandemic.
- Iraqi Prime Minister Mustafa Al-Kadhimi has called for joint efforts to confront the issues facing the region
Geostrategy
Jeddah Summit enhances ties with US, GCC countries: Saudi minister
Saudi Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih said that the Saudi-US and GCC-US summits, in the presence of...
- Jeddah Summit strengthens solid relations and strategic partnership between the US and GCC countries
- Economic relations between the US and the Kingdom are nearly 90 years old, says Saudi minister
Business
Sharjah records real estate transactions worth $517 million in June
A total of 747 real estate sales in 106 areas valued at $517 million were recorded in Sharjah in the...
- The total number of real estate transactions was 2,521, including 358 mortgage transactions worth AED 764 million (14.2 percent).
- The June real estate transactions in the emirate covered more than 6 million square feet and included residential, commercial, industrial, and agricultural lands.
Geostrategy
Security and stability remain key focus of the region
In a joint statement following the summit -- attended the GCC member states, Jordan, Egypt, Iraq and the US --...
- Leaders attending the Jeddah Security and Development Summit (GCC+3) vow to confront challenges in the region and preserve security in the Middle East
- The leaders also vowed to enhance regional cooperation and integration, and build joint projects between their countries to achieve sustainable development
Business
Real estate transactions worth US$1.5bn recorded in Dubai
Dubai's real estate and property transactions valued at AED 5.5 billion ($1.5 billion) during the week ending 15 July 2022....
- 186 plots were sold for US$162 million, 1,004 apartments and villas were sold for US$662 million
- The amount of mortgaged properties was worth US$561 million, highest being a building in Burj Khalifa
Geostrategy
UAE delegation highlights good governance initiative
The UAE delegation to the 2022 High-Level Political Forum on Sustainable Development (HLPF) at the United Nations (UN) Headquarters in...
- The UAE delegation concludes successful visit to the 2022 High-Level Political Forum on Sustainable Development
- The delegation presents the second edition of the UAE’s National Voluntary Review Report at the UN Headquarters
Geostrategy
Washington to remain fully engaged in Middle East, says Biden
US President Joe Biden told Arab leaders on Saturday that Washington would remain fully engaged in the Middle East and...
- The summit, the final stop of Biden's Middle East tour, brought together the six members of the GCC as well as Egypt, Jordan and Iraq
- Bahrain's King Hamad bin Isa Al Khalifa urged the leaders attending the Summit to join hands to find solutions to Palestinian and Yemeni crises
Economy
Abu Dhabi EAD launches environmental labeling program
The Environment Agency - Abu Dhabi (EAD) launched the 'Green Industries' environmental labeling program. The program is based on best...
- The 'Green Industries' environmental labeling program is based on best international practices in the field of eco-labeling
- The program aims to build mutually supportive partnerships to enhance the contribution of industrial facilities to environmental protection.
Most Read
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
e& 2023 net profit is US$2.8bn
e& said the net profit is a growth of 3 percent year-over-year.
Business
Company News
Latest News
Iraq finalizes fresh air deals with Gulf countries
BAGHDAD, IRAQ - The Civil Aviation Authority announced the work to conclude new air agreements with the Gulf states. A spokesman...
Geostrategy
15 top panels to discuss defense advancements in IDEX, NAVDEX 2023
ABU DHABI, UAE - IDEX and NAVDEX 2023 exhibitions, to be held from February 20-23 in Abu Dhabi, will host...
Business
UAE, Korea discuss partnership in renewable energy, technology
The two sides discussed various paths of cooperation and development in the investment, economic, scientific, cultural and advanced technology fields.
Geostrategy
Most Read
Business
DEWA organized 157 health, safety training sessions for employees in 2022
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has organized 157 training courses and awareness sessions on occupational health...
- DEWA organized its 20th Internal Health and Safety Week which featured various activities in aspects of occupational health and safety.
- DEWA continues to upgrade the expertise of its staff to reach the highest levels of excellence and quality through ongoing training.
Geostrategy
UAE takes part in financial inclusion meet under India G20 Presidency
ABU DHABI, UAE - The UAE participated in the Global Partnership for Financial Inclusion (GPFI) meeting in the Finance Track...
- The meeting was held to discuss the Global Partnership for Financial Inclusion work plan for 2023.
- G20 members, invited countries, GPFI members, and international organizations such as the World Bank and OECD attended the meeting.
Business
Emirates NBD issues Dirham bond, first by UAE firm in 10 years
Dubai, UAE-- Emirates NBD has announced the successful pricing of its inaugural AED1 billion ($272 million) dirham-denominated bond, the first...
- The three-year bond saw strong demand, with the order book peaking at over AED1.65 billion.
- The issuance is the bank's first dirham-denominated bond since the Ministry of Finance created a medium-term yield curve.