Air Arabia 2023 net profit $408m
The firm recorded a 27 percent rise in profit compared to 2022.
Business
Business
SCCI, EDB partner to aid investors, SMEs
The collaboration is part of strategic efforts by both companies to enhance the private sector's contribution to UAE economic development.
- The collaboration is part of strategic efforts by both companies to enhance the private sector's contribution to UAE economic development
- SCCI plans to provide support to the industrial and SME sectors as critical components in promoting diversification, sustainability, and national economic growth
Geostrategy
China, Russia far from ousting US power in GCC: Vision 3 Chairman Khaled Janahi
Are China and Russia taking over the US power in the Gulf Cooperation Council region? Khaled Janahi, chairman of Vision...
- Khaled Janahi, chairman of Vision 3, was speaking to TRENDS on the sidelines of TOP CEO Conference and Awards.
- He said China has come a long way from the perspective of economy and technological advancement .
Economy
UAE, South Korea ink pact to support entrepreneurs, SMEs
The UAE and South Korea sign an agreement to launch a joint cooperation program to support entrepreneurs and SMEs. During...
- The UAE and South Korea sign an agreement to launch a joint cooperation program to support entrepreneurs and SMEs
- During the 11-month program, the two sides will discuss and cooperate in entrepreneurship and SME development
Geostrategy
‘Effective steps needed to tackle situation due to Ukraine crisis’
Jordan's Minister of Foreign Affairs and Expatriates has called for concrete and effective steps to address the effects of the...
- Jordan's foreign minister calls for concrete steps to deal with the effects of Ukraine crisis on food security, energy prices and supply chains
- The minister reviews the Kingdom's relations with NATO and Jordan's role in the 'Mediterranean Dialogue' group since 1995
Business
DP World, NIIF expand ties
NIIF Master Fund will invest $300m in DP World subsidiary HPPL.
- With this transaction, which is also the Master Fund’s single largest investment, NIIF’s investment under this partnership will reach around $500 million.
- HPPL is one of India’s leading container terminal platforms with a proven track record of growth over the long-term.
Business
Drydocks World, KANFA AS sign contract
This is the first collaboration between Drydocks World and KANFA AS.
- Under the contract, the M10 module will be placed on the main deck of a floating production, storage and offloading (FPSO) vessel.
- It will be used to process crude oil received from oil wells, which will be dewatered and stabilized to meet export quality specifications.
Geostrategy
Jordan king to attend Sun Valley economic forum in US
The annual forum, which King Abdullah will be attending with Queen Rania Al Abdullah, brings together foreign and US political,...
- The annual forum, which King Abdullah will be attending with Queen Rania Al Abdullah, brings together foreign and US political, economic, and media leaders
- King Abdullah will meet with top executives of major US and international companies to highlight Jordan's recently launched Economic Modernization Vision
Economy
New law to allow UAE companies to act as commercial agents
The new draft law is geared to provide more business opportunities for UAE citizens and allow new categories of citizens...
- The new draft law is geared to provide more business opportunities for UAE citizens and allow new categories of citizens to access the commercial agencies business
- The UAE has also enacted a new draft law on the cooperatives that allows for the establishment of various forms of cooperatives in the country
Business
Arabian Plastic to list on Nomu
The company has won approval for an IPO of 1m shares.
- Shares to be listed represent 20 percent of the company’s share capital
- The Capital Market Authority’s approval shall be valid for six months from the authority’s board resolution date
Business
UAE Minister promotes trade, friendly ties during Florida visit
UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi concluded a two-day visit to Florida which...
- The UAE minister's trip to Florida builds on recent trips to the UAE by local Florida officials
- He attended several high level business development and networking events and meetings
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
Company News
Sheikh Zayed Festival to air World Cup matches for fans
Arts & Culture
Latest News
UAE asks govt entities to buy locally produced food
The decision has been taken to support local production while the government continues to embrace open trade policy.
Economy
Dubai Customs and South Korea to boost trade ties
Dubai, UAE— Dubai Customs and a delegation from South Korea have discussed ways to further develop mutual trade cooperation. Dubai...
Economy
TBI denies loan for ‘fake projects’, says recovered 1 trillion, 500 billion dinars
Responding to a story published on one of the satellite channels, the bank explained the amount of the total loans...
Economy
Most Read
Business
ACWA Power signs deal with China
The $1.5bn deal will herald a new energy transition phase.
- The strategic partners from China include Industrial and Commercial Bank of China, Bank of China, SPIC Huanghe Hydropower Development Co, and China Southern Power Grid
- The deals will lay the ground for financing, investment and construction of ACWA Power’s global clean and renewable energy projects in Saudi Arabia and BRI countries
Business
Saudi Arabia and Kuwait to jointly develop Al-Durra gas field
Riyadh, Saudi Arabia—Saudi Arabia has signed a memorandum of understanding (MoU) with Kuwait on Sunday to develop Al-Durra gas field...
- In March the two countries had agreed to develop the Al-Durra submerged gas field
- The development of the field comes in implementation of the MoU signed by Saudi Arabia and Kuwait in 2019, which included the joint work to develop and utilize Al-Durra field
Business
Turkey’s auto sector grows 6% from Jan-Nov 2022
The sector witnessed the manufacturing of 1,210,331 cars in the period.
- The sector witnessed the manufacturing of 1,210,331 cars in the period
- The automotive exports grew by 5 percent over the past eleven months