Alef Group announces US$84m sales transaction at ACRES 2024
SHARJAH, UAE - Alef Group concluded its participation in the ACRES Real Estate Exhibition 2024 with resounding success, generating significant...
Business
Emirates to recruit 5,000 crew members in 2024
DUBAI, UAE – Emirates will hire 5,000 people as it awaits the arrival of its fleet of Airbus A350s. The airline...
Business
Business
Aramco sustainability report lays down plans for net-zero ambition
Aramco publishes its first sustainability report which outlines ways in which the company plans to further tackle emissions while delivering...
- The report provides information on Aramco's efforts to support the broader energy transition
- Aramco expects to update the sustainability report on an annual basis
Business
Qatar Chamber and Jordan to enhance private sector cooperation
Qatar Chamber and the Jordanian Ministry of Labor discussed Tuesday ways to enhance bilateral relations and the private sector's role...
- Qatar Chamber First Vice-Chairman Mohamed bin Twar Al Kuwari met with Jordanian Minister Nayef Stetieh.
- Jordanian Minister of Labor Nayef Stetieh pointed to the Qatari initiative to employ 20,000 Jordanians in Qatar.
Business
OIC aims for 25 percent trade among member states by 2025
OIC has set a target of 25 percent trade among member states in the next three years by 2025 and...
- Organization of Islamic Cooperation has set a target of 25 percent trade among member states by 2025
- Biennial general trade fair is vital for promotion of trade and services among OIC member states
Business
Half of finance firms in UK, US prefer internal data collection
Half of all financial services organizations in the US and UK prefer managing web scraping practices internally, compared to just...
- 50 percent of financial services organisations manage web scraping internally
- 38 percent, combine internal practices and outsourcing to third parties.
Business
Bear market triggered by panic-selling presents investment opportunities
Fortunes will be made in this current bear market as in-the-know investors use the 20 percent drop as a major...
- A bear market is the term used to describe the plummeting of financial markets by 20 percent or more from their most recent all-time high.
- “Your future self will thank you. The average bear market lasts less than a year and they typically rebound stronger than before," Nigel Green, CEO and founder of deVere Group,
Economy
UAE Industry Development Council reviews action plan
Industry Development Council meeting reviews recommendations made at the first meeting, progress in implementing them and discusses the development of...
- Industry Development Council recommends launching unified platform for industrial data
- The council reviews suggestions made at first meeting, reflects on progress in implementing them
Business
UAE-Germany non-oil trade surpasses $130 billion in 10 years
The UAE-Germany non-oil trade exchange exceeded AED 478 billion ($130 billion) from 2012- 2021, according to data from the Federal...
- The imports accounted for 89.5 percent of the total trade exchanges, while exports 3.5 percent and re-exports accounted for seven percent.
- The trade exchanges grew by 12 percent by the end of last year to AED35.3 billion against AED31.5 billion by the end of 2020.
Business
Nana ties up with Google Cloud
The alliance will ensure home delivery in 15 minutes.
- Powered by Google Cloud, Nana Direct uses the company’s unique artificial intelligence and data warehousing solution to be well informed about business decisions
- Google said that by virtue of the collaboration it will be able to bring innovative solutions to e-commerce in the kingdom
Business
UAE prohibits export, re-export of Indian wheat, flour for four months
UAE's Ministry of Economy said the "decision comes in view of the international developments that have affected trade flows and...
- Companies that want to export/re-export wheat and wheat flour varieties imported into the country before 13t May need to seek the ministry's permission.
- The firms must submit to the ministry all documents and files that help verify the data regarding the shipment in terms of its origin, date of transaction.
Economy
Global economic growth forecast to pick up towards Q2 end: OPEC report
The global oil demand is anticipated, according to the report, to average 101.8 mb/d in second half of this year,...
- The global oil demand is anticipated, according to the report, to average 101.8 mb/d in second half of this year, up from 98.7 mb/d on average seen in the first half
- Improving mobility in major economies, as well as seasonal containment of the pandemic is projected to support gasoline and distillate demand
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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
Alef Group announces US$84m sales transaction at ACRES 2024
SHARJAH, UAE - Alef Group concluded its participation in the ACRES Real Estate Exhibition 2024 with resounding success, generating significant...
Business
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Emaar 9M revenue at US$5.1bn
Business
Debt-service payments from IDA’s countries to top $62bn in 2022: World Bank
The report highlights rising debt-related risks for all developing economies - low as well as middle-income economies.
Economy
S&P Global says Egypt non-oil businesses contract in November
Cairo, Egypt—Egypt’s non-oil businesses have shown a contraction in November, resulting in output falling at the sharpest rate since the...
Economy
Jordan’s ‘New City’ project to create 90,000 jobs: Govt
The project is part of the state's economic vision and aims to accommodate the population increases in Amman and Zarqa.
Economy
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Economy
African Development Fund mobilises $8.9bn for Africa’s low-income countries
ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income...
- ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income countries
- The package includes $8.5 billion in core ADF funding and $429 million for the newly created Climate Action Window
Economy
Workers’ welfare key focus as GCC states strengthen, expand social protection systems, says Saudi minister
The participating Gulf countries highlight labor reforms to ensure protection of workers at the 17th Asia and the Pacific Regional...
- The participating Gulf countries highlight labor reforms to ensure protection of workers at the 17th Asia and the Pacific Regional Meeting of ILO in Singapore.
- The event coincided with the release of an ILO survey, which highlighted that one in five workers experienced workplace harassment globally.
Business
ADNOC signs catering deals worth $272m
Four Abu Dhabi firms will provide services to ADNOC companies from 2022-27.
- More than 50 percent of the value from the four contracts will flow back into the UAE economy, as part of ADNOC’s In-Country Value (ICV) programme, ADNOC said.
- Royal Catering, Apex National Catering, National Corporation for Tourism & Hotels (NCT&H) and Sodexo Kelvin have been awarded the contracts.