Iran-EU trade surpasses US$5bn in 2023, says Eurostat

• Trade between Iran and member states of the EU recorded a decrease of 9 percent from January to December 2023.
• During that period, the exchange of products between Iran and the EU member states was valued at US$5 billion.

KEZAD Group, Al Ghurair Group’s APT ink lease pact to set up manufacturing facility

• The 30,000 square meters advanced manufacturing facility for APT in KEZAD will be located adjacent to Emirates Global Aluminum.
• The facility will be one of the largest manufacturers of aluminum in the world and will be operational by early 2025.

Emirates Flight acquires Bustanica

• Bustanica’s 330,000sqft facility has the capacity to grow more than 1 million kilograms of leafy greens a year.
• Its produce is available across all major retailers in the UAE such as Spinney's, Waitrose, Carrefour, and Choithrams.

SCC committee discusses issues related to Sharjah’s economy and tourism

• The committee addressed the outcomes of its recent visit to Sharjah Commerce and Tourism Development Authority.
• The committee was briefed about the authority’s efforts to stimulate tourism by conducting events throughout the year.

HMG 2023 net profit $544m

• The increase in net profit came as revenues edged up 14.41 percent year-on-year (YoY) to US$2.5 billion (SAR 9.5 billion).
• Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 18.49 percent YoY to US$666 million (SAR 2.5 billion).

Roadmap out for environmental education, sustainable development at WEEC2024

Americana Restaurants posts profit.

• The company demonstrated resilient performance, despite US$106 million impact of unfavorable foreign exchange movements.
• Adjusted EBITDA increased to $550.8 million, reflecting a 2.8 percent growth year-on-year with a healthy adjusted margin of 22.8 percent.

QEWC 2023 net profit US$426m

• The earnings per share amounted to US$0.38 (QR 1.41) as of December 31, 2023.
• QEWC reported revenue of $799 million in 2023 compared to $747 million in 2022.

Ford Middle East sales up 63%

• Ford Middle East said in a statement that the UAE recorded a 57 percent year-on-year increase in sales – more than double the industry’s average of 26 percent in this market.
• It also achieved a record year of growth in Saudi Arabia, where retail figures surged by 77 percent over 2022.

Air Arabia 2023 net profit $408m

• The company in its financial results said that the airline's turnover for 2023 reached US$1.6 billion
• Air Arabia’s Board of Directors proposed a dividend distribution of 20 percent of share capital,