Sharjah’s ‘Mleiha’ and ‘Al Dhaid’ added to Islamic World Heritage
Sharjah, UAE - The Islamic World Heritage Committee of the Islamic World Educational, Scientific and Cultural Organization (ISESCO) added the...
Arts & Culture
Business
Ras Al Khaimah Tourism Development Authority on Best Workplaces List
Ras Al Khaimah Tourism Development Authority (RAKTDA) has achieved sixth place on the Best Workplaces List of 2022 – Small...
- It was also named one of the Best Workplaces for Women and a Great Place to Work in 2021.
- RAKTDA was also recognized as the ‘Government Entity with the Happiest Work Environment' in the emirate.
Business
ECI signs MoU with Terminus Group to strengthen digital infra projects
Etihad Credit Insurance (ECI), the UAE Federal export credit company, has signed a Memorandum of Understanding (MoU) with Terminus Group,...
- The ECI said that it will safeguard the Terminus Group’s receivables and mitigate potential risks while trading in the UAE market or entering new competitive business settings.
- Terminus Group is exploring with UAE strategic partners to bring its innovation and manufacturing capabilities to the UAE by setting up an innovation hub.
Economy
UAE real non-oil GDP grew by 7.8 percent in Q4 2021: CBUAE
UAE’s real non-oil GDP grew by 7.8 percent in the fourth quarter of 2021, owing to the easing of business...
- The growth was attributed to the easing of business closures and the decline in restrictions on international travel, the Central Bank of the UAE said.
- The bank said there was a 9.3 percent annual increase in Emirati oil production during the same period, in line with a related OPEC+ agreement.
Business
Firms listed on Muscat Stock Exchange post $1.4bn in net profits
Omani companies, which are listed on the Muscat Stock Exchange (MSX), reported total net profits of $1.39bn for the year...
- The profits were 3.7 percent less than the $1.44bn in 2020 due to a fall in net profits of four out of the top five sectors at the MSX.
- As per the report, Oman’s banking sector, the biggest sector in the exchange by market capitalization, offset some of the net profit declines of other main sectors.
Business
NBK Q1 net profit $383m
Total assets by the end of March grew by 8.7 percent YOY.
- Total loans and advances increased by 12.3 percent year-on-year to $66 billion, and total shareholders’ equity reached $11.2 billion.
- Net operating income of KD 236.5 million ($778.3 million), increasing by 6.8 percent compared to Q1 2021.
Economy
UAE’s non-oil contribution to GDP hit 72.3% in 2021
The hotels and restaurants, wholesale and retail and health and social services sectors contributed 21.3 percent, 14.1 percent and 13.8...
- The hotels and restaurants, wholesale and retail and health and social services sectors contributed 21.3 percent, 14.1 percent and 13.8 percent respectively
- The UAE’s GDP at constant prices achieved a growth of 3.8 percent in 2021, exceeding the forecasts of relevant international institutions
Business
QMM is market maker for Chimera Capital
QMM, part of ADQ, was launched in 2020.
- QMM, part of ADQ, was launched in 2020, and has, over the past 18 months, played an active role in increasing ADX’s liquidity
- "We are pleased to have QMM as a market maker for our four ADX-listed ETFs,” Syed Basar Shueb, Chairman of Chimera Capital, said
Economy
Jordan economy is strong, far from bankruptcy: Khasawneh
Khasawneh said the World Bank had confirmed that Jordan’s economy is more immune to the Russian-Ukrainian crisis.
- Khasawneh said the World Bank had confirmed that Jordan’s economy is more immune to the Russian-Ukrainian crisis
- He revealed that the government achieved 104 per cent of its target revenue last year and experienced growth
Economy
UAE cabinet approves regulations of decree on entry, residence of foreigners
The UAE Cabinet has approved the executive regulations of the Federal Decree-Law on Entry and Residence of Foreigners aimed at...
- Substantial amendments are introduced to the Golden Residence Scheme to simplify the eligibility criteria and expand the categories of beneficiaries.
- New types of visas have been introduced without requiring a host or sponsor for the first time.
Business
Nakilat Q1 net profit up 19.28 percent
Nakilat noted that earnings per share amounted to QR 0.07 in Q1 2022.
- Compared to its profit in April of 2021 which, stood at QR 320.106 million, the profit reached QR 381.835 million.
- Nakilat represents the main transport link in the global supply chain of liquified natural gas from the State of Qatar.
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Sharjah’s ‘Mleiha’ and ‘Al Dhaid’ added to Islamic World Heritage
Sharjah, UAE - The Islamic World Heritage Committee of the Islamic World Educational, Scientific and Cultural Organization (ISESCO) added the...
Arts & Culture
Company News
Latest News
Tourism recovery reaches 65% of pre-pandemic levels
An estimated 340 million international arrivals were recorded in the third quarter of 2022 alone, almost 50% of the nine-month...
Economy
KEZAD Group breaks ground on UAE’s largest e-commerce fulfilment centre
The 252,000 square metre fulfilment centre facility is being designed and developed by KEZAD Group under a Build-to-Suit agreement.
Business
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Business
AD Ports to conduct ‘joint training exercise’ at Delma Port
Abu Dhabi, UAE— AD Ports Group will conduct a joint training exercise at Delma Port on November 24. The exercise,...
- Thirteen government entities are scheduled to participate in the joint exercise, in addition to some entities from the private sector
- It will enhance the capabilities of AD Ports Group and other participating entities for addressing potential risks in incidents that require a coordinated response
Economy
Aircraft orders drive US manufactured goods demand
A pick-up in aircraft orders boosted demand for big-ticket US manufactured goods in October, with numbers rising more than expected,...
- Orders for defense aircraft and parts soared 21.7 percent from September to October.
- Surging inflation in the United States and supply chain problems have proven a challenge to industry and consumers.
Geostrategy
Jordan, Egypt discuss various aspects of transportation
ALEXANDRIA, EGYPT - Jordan's Minister of Transport Maher Abu Al-Samen discussed with his Egyptian counterpart Kamel Al-Wazir ways and means...
- The talks were held on the sidelines of the Council meeting of Arab Transport Ministers in Alexandria, Egypt.
- Jordan's minister hailed the constructive meeting of Arab Transport Ministers.