UAE best performing economy in Arab region, says Arab Monetary Fund
Abu Dhabi, UAE - The United Arab Emirates was named the most economically competitive nation in the Arab world, a...
Economy
BCI’s subsidiary secures US$100m loan from SIDF
RIYADH, SAUDI ARABIA - Basic Chemical Industries Co.'s (BCI) subsidiary Chemical Marketing and Distribution Co. Ltd. secured a loan from the Saudi...
Business
Business
ADNEC’s launches, successes in 2021
The company said it added about $653m to Abu Dhabi's economy.
- The company said it made significant investments and expanded its mandate to the leisure tourism sector, which contributed to a strategic approach to diversifying the portfolio.
- In collaboration with SEHA, ADNEC was a key player in delivering critical support for Abu Dhabi and the UAE in mitigating the impact of COVID-19, the company said.
Business
Tadawul sets up SAC
The stock exchange established Shariah Advisory Committee.
- The committee consists of representatives from the Kingdom’s largest financial institutions, who will work towards a unified Shariah-compliant rulebook
- The committee will also undertake the responsibility of overseeing and approving the list of Shariah-compliant listed companies on a periodic basis
Business
Dubai records weeklong real estate transactions worth $1.71 billion
About 2,145 real estate and property transactions worth AED 6.3 billion ($1.71 billion) were conducted in Dubai during the week...
- A total of 250 plots were sold for AED1.12 billion, and 1,436 apartments and villas were sold for AED3.2 billion.
- The top transactions were a land sale in Hadaeq Sheikh Mohammed Bin Rashid for AED96 million, and another plot of land that was sold for AED52.5 million in Palm Jumeirah.
Business
SIB Q1 net profit up 13.9 percent
The bank said it continued to maintain a strong liquidity.
- The bank said it recorded an increase in net impairment provisions amounting to AED 61.5 million, compared to AED 48.0 million for the previous period.
- Net income on financing and investment products increased by 11.6 percent, equivalent to an increase of AED 30.6 million.
Economy
Sustainable development hinges on fate of world’s cities
Martha Delgado, President of the UN-Habitat Assembly called for resilient, sustainable “smart cities” that are more inclusively governed and better...
- Martha Delgado, President of the UN-Habitat Assembly, called for resilient “smart cities” that are inclusively governed
- Upgrading slums and addressing the housing affordability crisis remain the highest priorities for countries
Arts & Culture
UAE approves weeklong Eid al-Fitr holiday
The UAE Cabinet announced that the period from Ramadan 29 through 3rd Shawwal 1443 will be a paid Eid holiday...
- The UAE Cabinet announced that the period from Ramadan 29 through 3rd Shawwal 1443 will be a paid Eid holiday for all private sector workers
- The holy month of Ramadan began on April 2 for most Muslim countries, following observations from the International Astronomical Center
Business
Dubai South signs on Discovery Land to build luxury golf community
The agreement was signed between, Dubai Aviation City Corporation and Dubai South Executive Chairman Khalifa Al Zaffin and Discovery Land...
- Discovery Land purchased the plot of land that will be utilized for the development of the spacious luxury golf community
- It will be built up to the highest standards and become among the top golf course communities in the region once completed
Business
Saudi Arabia taps Fawaz Alhokair and Partners to support designers
The MoU is expected to help the commission as well as the company to support Saudi fashion designers.
- As part of the agreement, Saudi fashion designers will benefit from the support of platforms managed by Fawaz A Alhokair and Partners Co
- The two parties will also collaborate on sustainability programs and projects, with implementation supervised by specialized teams in both parties
Business
Etihad Engineering partners with Touchdown Aviation for aircraft parts
Touchdown Aviation (TDA) will provide Etihad Engineering supply chain solutions locally in Abu Dhabi, to ensure the availability of high...
- Etihad Engineering has successfully completed maintenance projects over the years for airlines from all over the world.
- The company's state-of-the-art 500,000 sqm facility is located in Abu Dhabi, adjacent to Abu Dhabi International Airport.
Business
Amlak appoints new MD
Abdullah Al-Sudairy will hold the dual posts of CEO and MD.
- Al-Sudairy has served as the company’s CEO since 2007 and has a wide range of experience in the financial sector
- The Saudi-listed company said it received the Saudi central bank’s no-objection on April 21
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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
UAE best performing economy in Arab region, says Arab Monetary Fund
Abu Dhabi, UAE - The United Arab Emirates was named the most economically competitive nation in the Arab world, a...
Economy
Company News
Stc posts US$2.5bn profit in Q3
Business
Latest News
‘Dubai seeks to be among top digital economies’
Sheikh Hamdan bin Mohammed, who is also Dubai’s Higher Committee of Future Technology Development and Digital Economy Chairman, said this...
Economy
GCC rejects malicious media campaign targeting bloc
Beside approving various programmes and joint projects, the region's information ministers discuss strategic plan for joint media cooperation between the...
Geostrategy
EIC calls UAE as the leader in renewable energy sector
London, UK --The Energy Industries Council (EIC), one of the world’s largest energy trade associations, has released a report on...
Economy
Most Read
Business
ADFD to finance building, upgrade of water projects in Argentina
Abu Dhabi, UAE---Abu Dhabi Fund for Development (ADFD) will finance a water project in Cordoba province of Argentina under an...
- Costing, $28.8 million, the project will see building of modern water plants and expanding existing water stations in 26 villages of Cordoba province.
- The project will involve the laying of about 255-kilometer supply lines and establishing 14 new pumping stations and purification plants.
Geostrategy
Jordan Minister calls for MENA-Europe electric connection project
AMMAN, JORDAN - Jordan's Minister of Energy Saleh Kharabsheh stressed on the importance of conducting an electrical interconnection project to...
- Jordan's Minister said electric connection with Europe achieves integration by supplying the continent with relatively low-cost energy.
- He said that Jordan seeks to turn its electric power grid into a smart one.
Business
‘Introducing insurance share to beneficiaries is important privilege’
ABU DHABI, UAE - Insurance shares distributed among beneficiaries is one of the most essential privileges in the Federal Law...
- The authority said that shares are distributed to the daughter, sister or mother if they are widowed or divorced and to the son or brother if they are disabled.
- Pension shares are distributed to the heirs once the pensioner is deceased, given that those heirs do not earn a salary or receive their own pension.