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
Ahlibank 9M net profit $65m
Business
ADNIC 9M net profit $72m
Business
Palestinians count cost of Israel’s West Bank raid
Palestinians held funerals and assessed the damage of a days-long Israeli raid in the occupied West Bank, where violence has...
Geostrategy
Business
ACWA, OQ, Air Products sign pact
A green hydrogen-based ammonia production facility will be built in Oman.
- The Joint Development Agreement signing follows a memorandum of understanding signed in December 2021.
- The firms said in a statement that the project would be based on integration of renewable power from solar, wind and storage.
Business
ENBD REIT rental income down 19.7 percent
Occupancy of its portfolio up 80 percent in the year ending 31 March 2022.
- The firm's property portfolio value stood at $356 million, down 1.1 percent year-on-year whilst Net Asset Value was $167 million.
- The firm has proposed a final dividend of $5 million or $0.02 per share for the six-month period ending 31st March 2022, a 13.6 percent increase from the same period of 2021.
Economy
Global economy to gain $8.3 trillion if countries invest in skills: WEF
The Reskilling Revolution initiative, a coalition of 50 CEOs, 25 ministers and 350 organizations committed to realizing these gains for...
- The initiative, launched at WEF in January 2020, is working to provide 1 billion people with better education, skills and economic opportunity by 2030.
- Two years into its work, the initiative will expand beyond adult reskilling and upskilling and integrate a focus on education for children and youth.
Business
April Dubai real estate sales highest monthly on record in 10 years
Dubai real estate market recorded 445 sales transactions worth AED 1.06 billion and 76 mortgage deals of AED 1.09 billion...
- On Wednesday, real estate market recorded 445 sales transactions worth AED 1.06 billion and 76 mortgage deals of AED 1.09 billion.
- In April, the market recorded 6,983 sales transactions, an increase of 45.5 percent over April 2021.
Business
UAE and China to set up New Energy Vehicle Project
Emirates Transport (ET) and China's NEV Investment LLC have teamed up to develop New Energy Vehicle Project in the UAE.
- The joint venture represents a milestone in the efforts aimed at accelerating the New Energy Vehicles Project in the UAE
- EVIS is considered a launchpad for NEV Investment and potential Chinese New Energy Vehicles which can be introduced to the UAE
Economy
Egypt to unveil development projects worth $860m
Executive regulations governing public-private partnership will be issued soon, an official of the Finance Ministry said.
- Executive regulations governing public-private partnership will be issued soon, an official of the Finance Ministry said
- The contracts with the private sector will be long term and subject to clear-cut mechanisms, he added.
Economy
Non-oil exports of Saudi Arabia surge 12.8% in March
Saudi Arabia's non-oil exports surged to $7.52 billion in March 2022, according to the General Authority for Statistics, also known...
- Non-oil exports excluding re-exports rose by 22.4 percent year-on-year
- On a month-on-month basis, Saudi Arabia's exports of crude and refined oil jumped 35.7 percent, having set a record high increase at least since February 2017
Business
Sharjah Executive Council discusses realty sector draft laws
The meeting also included a discussion of a draft Executive Council decision regarding the executive regulations for the law of...
- The meeting also included a discussion of a draft Executive Council decision regarding the executive regulations for the law of renting real estate
- Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, and Chairman of the Sharjah Executive Council chaired the meeting
Expo 2020 DUBAI
Saudi authorities foil bid to smuggle amphetamine tablets: Official
Saudi Arabian authorities said Wednesday that they thwarted an attempt to smuggle 403, 000 amphetamine tablets into the kingdom. An...
- The tablets were seized from a Syrian national, who is also a citizen of Jeddah governorate.
- All the tablets were hidden inside a shipment of beans in plastic molds in the form of bean pods.
Economy
Saudi non-oil exports hit $21 billion in the first quarter of 2022
Saudi Arabia’s non-oil exports in the first quarter of 2022 reached 77.8 billion riyals ($21 billion), growing nearly 29 percent...
- Overall merchandise exports increased by 72.7 percent in Q1 2022 compared to Q1 2021, reaching 359.3 billion riyals, up from SAR 208.0 billion in Q1 2021.
- This increase originated mainly from oil exports, which rose by SAR 133.6 billion or 90.3 percent in the same period, the General Authority for Statistics said.
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
Company News
Ahlibank 9M net profit $65m
Business
ADNIC 9M net profit $72m
Business
Latest News
BinDawood’s profit falls by 74%
Business
Al-Othaim’s profit up by 436%
Business
Saudi Arabia eyes hosting AFC Women’s Asian Cup 2026
Riyadh, Saudi Arabia— Saudi Arabia has submitted its bid to host the AFC Women’s Asian Cup 2026, a key moment...
Economy
G7, EU agree oil price cap to reduce Russia war funding
The price cap is designed to make it harder to bypass the sanctions by selling beyond the EU. Poland's ambassador...
Geostrategy
SABIC signs pact with Aramco, PKN ORLEN
They will study feasibility of Polish petrochemical sector investment.
Business
Most Read
Geostrategy
Supporting India’s G20 presidency is a priority for UAE, says Minister
The UAE's Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan has said that the Gulf...
- The UAE will work towards a world where human progress is an inalienable right for all.
- The UAE views the G20 as a forum that plays a critical role in multilateral efforts.
Economy
UAE 51st National Day: Central Bank launches new 1000 dirham note
Abu Dhabi, UAE---The Central Bank of the UAE launched an AED-1000 denomination note as part of the country's 51st anniversary...
- Made of polymer and using innovative designs and advanced security features, the note is the fourth in the Third Issuance of the National Currency Project.
- The new banknote will be available in Central Bank branches and ATMs in the first half of 2023.
Business
Jazeera Airways expands to Tajikistan
A direct flight from Kuwait to Dushanbe will be operated.
- The route launches on December 29 and will be operated on Thursdays and Saturdays. Flights land at the Dushanbe International Airport.
- The new route that connects pilgrims to Saudi Arabia besides offering a new travel destination for nature and adventurous culture seekers.