Dubai wins right to host 349 business event in 2023
DUBAI, UAE - Dubai consolidated its status as a central hub for international business events in 2023, with the city...
Business
Business
Jordan, UAE review cooperation in improving quality higher education
Jordan and the United Arab Emirates (UAE) have discussed exchanging expertise between them, especially in the field of accreditation and...
- A meeting was held between the education ministers of both the countries for exchanging expertise in higher education.
- The mechanism of quality assurance procedures at the institution and program level was also discussed in the meeting.
Economy
Germany inflation highest in 50 years as energy, foodstuff prices rise
Germany hit the highest level of inflation in 50 years due to a rise in the cost of living, energy,...
- The data provided by the Federal Statistical Office of Germany indicate that levels of inflation reached 7.9 percent in May 2022.
- The Federal Statistical Office of Germany blamed the war in Ukraine and the rise in oil prices for hitting this record high inflation.
Business
ADX lists GFH Financial Group
The listing is set to expand GFH’s investor base and boost its share liquidity.
- This is GFH’s fourth regional listing with its shares already listed and actively traded on the Bahrain Bourse, Boursa Kuwait and the Dubai Financial Market
- The listing of GFH Financial Group on Abu Dhabi Securities Exchange brings the number of dual listings on the exchange to four
Business
Saudi Arabia, Seychelles to expand cooperation in tourism sector
Saudi Arabia and Seychelles will form a partnership to boost cooperation and exchange expertize in tourism sector which includes planning,...
- Saudi’s tourism ministry signed an MoU with the Ministry of Foreign Affairs and Tourism of Seychelles.
- The MoU aims at supporting the efforts of tourism institutions and associations via holding conferences.
Business
ADNOC’s Borouge IPO its largest ever, oversubscribed 42 times
ADNOC and its partner Borealis AG have announced the completion of bookbuild and public subscription for the IPO of Borouge,...
- The book was covered within less than one hour of the start of the public subscription process.
- Borouge is the fourth company that ADNOC has brought to market since 2017 and follows the successful IPOs of ADNOC Distribution, ADNOC Drilling and Fertiglobe.
Business
ICD net profit $2.74 bn
The Group's revenue was AED 169.4 bn, up 24.5 percent.
- The rise in revenue was attributed to rallying commodities prices in oil and gas, higher levels of activity in transportation.
- The Group's share of equity decreased by 1 percent to AED190.6 billion.
Business
French companies show interest in Saudi entertainment market
Major French companies have expressed their interest in accessing the Saudi market and investing in the tourism and entertainment market...
- These companies can inaugurate headquarters in Riyadh to maximize benefits from these opportunities, said Laurent Germain, president of Saudi-French Business Council.
- Germain said that Saudi Arabia has amazed the world with the entertainment industry within a short period of time.
Geostrategy
Iraq seeks to enhance global trade relations: official
Iraq seeks to enhance economic and commercial relations with the international community, said Hamid Al-Ghazi, the Iraqi Secretary-General of the...
- Iraq seeks to enhance economic and commercial relations with the international community, said Hamid Al-Ghazi, the Iraqi Secretary-General of the Council of Ministers
- Spanish ambassador Pedro Martinez said his government will support Iraq in all fields, especially in climate change
Economy
Israel signs free trade deal with UAE; its first in GCC, third in Middle East
The UAE has signed a Comprehensive Economic Partnership Agreement (CEPA) with Israel. Dr Thani bin Ahmed Al Zeyoudi, UAE Minister...
- The agreement builds on the strong foundations laid by the Abraham Accords, says UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi
- Talks for a free trade agreement began in November and concluded after four rounds of negotiations
Economy
GCC, Pakistan launch 3rd round of free trade negotiations
The Chairman of the GCC Negotiating Team, Abdulrahman bin Ahmed Al-Harbi, stressed the importance of pursuing negotiations with Pakistan.
- The Chairman of the GCC Negotiating Team, Abdulrahman bin Ahmed Al-Harbi, stressed the importance of pursuing negotiations with Pakistan
- Free trade negotiations with Pakistan are part of GCC countries' effort to strengthen cooperation with their international partners
Company News
Agthia’s profit rises by 14%
Business
Latest News
Saudi Aramco subsidiary Luberef expects to raise $1.32 bn from IPO
Dubai, UAE---Luberef, a subsidiary of Saudi oil giant Aramco, expects to raise up to SAR 4.95 billion ($1.32 billion) from...
Business
Jordan, India explore economic cooperation
AMMAN, JORDAN - Jordan's Minister of Investment Kholoud Saqqaf on Sunday received Indian ambassador in Amman Anwar Haleem for a...
Geostrategy
Herzog becomes first Israeli president to visit Bahrain
Israeli President Isaac Herzog arrived in Bahrain, the first visit by an Israeli head of state to the small Gulf...
Geostrategy
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Business
RTA to develop truck rest stops in partnership with ADNOC, Almutakamela
Dubai, UAE---Dubai’s Roads and Transport Authority (RTA) has awarded contracts for constructing three all-inclusive Truck Rest Stops in partnership with...
- The three stops that will be built over a total area of 226,000-sq meters can accommodate 500 trucks and heavy vehicles.
- The three stations are situated in key areas nearby key roads and logistical cities that witness considerable numbers of trucks every day.
Geostrategy
Jordan and Egypt agree to expand bilateral relations
Cairo, Egypt—King Abdullah of Jordan and Egyptian President Abdel Fattah El Sisi have expressed desire to further expand bilateral relations...
- During the meeting, held at Al Ittihadiya Palace, both leaders expressed pride in the ties between the two countries and keenness to bolster relations
- Talks also covered the latest regional and international developments, with both sides stressing the need to maintain coordination and consultation on issues of mutual concern
Arts & Culture
Innovation key to fairer world for people of determination, says UN chief António Guterres
Innovation and technology can be powerful tools for inclusion, enhancing access to information, education, and lifelong learning, opening new avenues...
- Greater public-private sector collaboration is needed, in order to develop strategies that benefit people of determination, who should also be involved in their development
- Innovation and technology can be powerful tools for inclusion, enhancing access to information, education, and lifelong learning for people of determination, says UN chief