Air cargo demand up 8.3 percent in November 2023, says IATA
GENEVA, SWITZERLAND - The International Air Transport Association (IATA) released data for November 2023 global air cargo markets indicating the...
Business
Resilient supply chains are essential to global trade: Expert
DUBAI, UAE – For over 30 years, globalization has been the evergreen megatrend as global trade has helped lift some...
Business
Business
Iconic GCC TOP CEO event in May
The event, along with the Arab Women Forum, will be held at Palazzo Versace, Dubai, on May 17 and 18,...
- Arab Women Forum, a platform to discuss achievements and share solutions for the women leaders of the region, is also making a comeback along with TOP CEO Conference and Awards
- The TOP CEO awards are based on the rankings of all GCC-listed companies based on financial performance, size of a company, and corporate governance
Business
Booking volumes up 195% YoY for Eid, says dnata Travel
The top five most-booked destinations this year so far with dnata Travel include the Maldives, the UAE itself, Turkey, Mauritius,...
- This year, 65 percent of UAE travelers opted for worldwide destinations, while 35 percent chose staycations, according to dnata
- This is compared to 68 percent of travelers booking UAE staycations and 32 percent seeking international holidays in 2021
Business
TA’ZIZ, Reliance ink pact
TA’ZIZ taps Indian conglomerate for Ruwais project.
- Reliance is India’s largest diversified conglomerate and a strategic partner with Abu Dhabi National Oil Company
- The formal shareholder agreement was signed by senior executives during a visit of Mukesh Ambani, Chairman and Managing Director of Reliance
Economy
India launches outreach programmes on UAE-India CEPA pact
The CEPA was signed in New Delhi on February 18 in the presence of Crown Prince of Abu Dhabi Mohamed...
- The CEPA was signed in New Delhi on February 18 in the presence of Crown Prince of Abu Dhabi Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi
- The first in a series of countrywide outreach programmes was held in Hyderabad in India this week, organised by the Government of Telangana state
Business
Saudi Arabia lifts ban on poultry and eggs from Denmark
Saudi Arabia had stopped the imports as reports of avian influenza, or bird flu, emerged from across the world.
- Food products have a significant role in Denmark’s economy
- Two-thirds of his country’s exports are mainly food products
Economy
Turkey partially lifts COVID-19 mask mandate
The move follows similar actions by European countries, which lifted the mask mandate partially or entirely.
- Mask use would still be in place in mass transit and hospitals
- It would go when the number of daily cases ‘drops below 1,000’
Business
Dubai Chamber adds 10,000 new companies as members in Q1
More than 10,000 companies joined Dubai Chamber of Commerce as members during the first quarter of 2022, marking a 64...
- Member exports and re-exports saw 11.3 percent growth over the same period last year, while their value reached AED 61 billion.
- The number of certificates of origin issued by the Chamber during the first quarter of this year amounted to 178,654 certificates, a growth of 7.1 percent from 2021.
Business
Jordan and UAE groups join hands to develop beach project
Jordan Free and Development Zones Group Director Arwa Hiyari said the beach project is aimed at diversifying tourism.
- The project features a tourism camp housing restaurants, swimming pools and top-notch chalets of different sizes.
- The project will also provide new services for Dead Sea visitors and create job opportunities, an official said.
Business
Dubai real estate market records highest single-quarter deals since 2010
Dubai real estate market recorded the highest number of transactions since 2010 registered in a single quarter and the highest...
- Q1 2022 recorded a total of 20,539 sales transactions worth AED 55.51 billion ($15.11 billion).
- The quarter had the highest number of rental contracts ever recorded in a single quarter and it had a total of 160,530 rental contracts.
Business
Aldar acquires stake in AD Business Hub
The UAE-based Aldar Investment is the subsidiary of Aldar Properties.
- The acquisition marks the creation of Aldar Logistics, the company's new logistics real estate vertical.
- Aldar Logistics will focus primarily on the UAE, potentially expanding into Saudi Arabia and Egypt, said an Aldar press release on Tuesday.
Air cargo demand up 8.3 percent in November 2023, says IATA
GENEVA, SWITZERLAND - The International Air Transport Association (IATA) released data for November 2023 global air cargo markets indicating the...
Business
Company News
UAE, China eye $200bn bilateral trade by 2030
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Egyptian LNG exports will exceed 8 million tonnes in 2022: Minister
Ninety percent of Egyptian LNG exports will be destined for European Union countries, El Molla said.
Economy
Rate cuts may help in avoiding chronic recession
It is logical for the FRB to halt the wave of escalation of interest rates on the dollar, which was...
Economy
Global economic crisis takes fizz out of MENA startups
MENA startups had begun the year with a deluge of funding from investors, but toward the year end a dark...
Business
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Geostrategy
Jordan to receive $845 million in aid from the US
The United States will provide Jordan with over US$845 million in annual financial support, officials in Amman said as the...
- The Hashemite kingdom is a key Western ally in the Middle East.
- In September, the US committed to providing Jordan with $10.15 billion in aid between 2023 and 2029.
Videos
Saudi Aramco only behind Apple in market cap
The world's largest producer of oil and world's most profitable company marginally overtook Apple with a market capitalization in excess...
- Technology companies have dominated the top five, with four companies being from this sector in the past 10 years.
- Though primarily owned by the state, the energy giant raised $29.4 billion in an Initial Public Offering in 2019.
Economy
Mohammed bin Rashid approves Dubai rural area development master plan
DUBAI, UAE - Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai has approved the...
- The Plan seeks to preserve the nature of areas including Lehbab, Margham, Al Marmoom, Al Lisaili, Al Faqaa and Al Aweer.
- It also aims to offer a unique touristic experience and transform each area into a key tourist destination in the emirate.