ADIB posts $272m net profit
Business
Economy
Investopia first UAE trademark to be registered under Madrid Protocol
The Ministry of Economy (MoE) has received the request to register the Investopia Summit trademark internationally, in line with the...
- The UAE acceded to the Madrid Protocol on 28th September 2021 to enable trademark owners in the country to protect their trademarks in more than 125 member countries.
- Investopia Summit is one of the strategic projects announced last September by the UAE government as part of the first set of 'Projects of the 50.'
Economy
Fitch revises Saudi Arabia’s outlook from stable to positive
The international credit rating agency ”Fitch” updated its credit report for Saudi Arabia affirming its “A” rating for the Kingdom...
- Fitch’s outlook revision makes Saudi Arabia one of the few countries globally, and the only G20 country, to have received two consecutive upward outlook revisions in 2022
- Fitch also forecasts the government debt to GDP to remain below 30% until 2025, which is approximately half the median level of comparative countries with similar credit ratings
Business
Petrobras names new CEO
Jose Mauro Coelho was appointed to the post for a one-year term.
- Jose Mauro Coelho is the third Petrobras CEO in just over a year after President Jair Bolsonaro fired his predecessors in a standoff over fuel prices
- He was the government's choice to succeed Joaquim Silva e Luna, who was ousted by Bolsonaro last month after slightly more than a year in the post
Business
Dubai records realty transactions worth $463m on Thursday
The Dubai real-estate market recorded total realty transactions worth over AED1.7 billion ($463 million) on Thursday, April 14.
- The transactions included 331 sales worth AED1.24 billion ($337.64 million), the DLD data showed
- They are also said to have included 77 mortgage deals worth AED390.84 million ($106.42 million)
Business
Abu Dhabi to host World Utilities Congress in May
Abu Dhabi will host World Utilities Congress in May, bringing together more than 10,000 global utilities professionals to explore topics...
- The World Utilities Congress will be held under the patronage of Sheikh Khaled bin Mohammed bin Zayed Al Nahyan
- The digitalization of the utilities sector will be delved deeper into at the conclave, with a dedicated strategic panel on Digital Transformation and Technological Innovations
Economy
UAE’s Federal Tax Authority launches tax whistleblower program
UAE’s Federal Tax Authority (FTA) has announced the launch of Raqeeb, the whistle-blower program for tax violations and evasion, which...
- Effective from April 15, 2022, Raqeeb allows the Authority to receive reports from individuals on tax evasion cases, tax-related fraud, and violations of tax legislation.
- It also allows the Authority to verify the reports and grant monetary rewards to informants when certain conditions are met.
Business
Ajman Free Zone becomes Amazon Web Services Activate Provider
Ajman Free Zone (AFZ) announced today that it has become an AWS Activate Provider. Startups affiliated with the AFZ, which...
- The AWS Startup Activate program offers grants up to $25,000 to qualified startups, as well as offers of exclusive credits, discounts, and software service access.
- Qualified startups can obtain credits and partner funding, along with a business support plan credits of up to $5,000, through the AWS Startup Migrate program.
Business
Sandooq Al Watan to fund Lune with $68,000 for its innovator program
Sandooq Al Watan, the community initiative launched by Emirati businessmen to support the creation of a better future for forthcoming...
- Sandooq Al Watan, the community initiative launched by Emirati businessmen to support the creation of a better future for forthcoming generations.
- Lune Platform features an intuitive and easy-to-use control dashboard, designed to give users a comprehensive view of their customers’ financial accounts.
Business
Economic freedom, effective governance key to attract FDI: AMF
The study calls for the stability of the business environment by reforming relevant laws.
- The study calls for the stability of the business environment by reforming relevant laws
- The regulatory quality index outperforms all other factors in attracting investment
Economy
Unvaccinated citizens can travel if they present negative PCR: UAE
The UAE will allow unvaccinated individuals to travel on April 19 if they present a negative PCR test result taken...
- Unvaccinated individuals aged under 16 is exempt from presenting a negative PCR test result upon arrival
- The policy is aimed at achieving sustainable recovery and the return to normalcy to boost the economy
Most Read
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
Company News
Latest News
ADIB posts $272m net profit
Business
Jordan and US renew commitment to enhance strategic ties
Amman, Jordan—Jordan and the US have reviewed their strategic partnership in a meeting between King Abdullah of Jordan and Mark...
Geostrategy
Masdar to develop 100 megawatt solar plant in Turkmenistan
Abu Dhabi, UAE—Masdar will develop a 100 megawatt solar plant in Turkmenistan, the company's first such project in the country....
Business
‘UAE govt seeks to enable SMEs enter global markets’
"The UAE economic model is based on developing the national entrepreneurship system and enhancing the participation of Emirati entrepreneurs and...
Economy
Most Read
Economy
UAE economy expected to grow more than 6 percent in 2022: IMF
The country's inflation has risen with global trends and is expected to average just over 5 percent this year, while...
- The IMF statement came following discussions with UAE authorities from November 2 to 17, 2022. Ali Al-Eyd, who led the IMF staff team, the UAE has seen robust growth this year.
- The outlook is, however, subject to significant external uncertainties, including the impacts of global economic and financial headwinds and geopolitical developments.
Business
ADIB Securities 9M trades $5.98bn
ADIB Securities is a Shari'a-compliant brokerage firm in the UAE.
- The Abu Dhabi-based brokerage reported a 149 percent increase in its Digital Trading platform utilization compared to the same period last year.
- The growth was largely driven by a strong increase in the number of transactions routed through the company's digital channels.
Economy
AD Ports Group, TotalEnergies partner to explore solar power opportunities
The agreement comes as Abu Dhabi accelerates its development of solar energy solutions to support the wider UAE net-zero emissions...
- The agreement comes as Abu Dhabi accelerates its development of solar energy solutions to support the wider UAE net-zero emissions by 2050 agenda
- The emirate plans to install 5.6 gigawatts of solar PV capacity by 2026 and is currently developing the world’s largest solar plant with a capacity of 2GWs in the Al Dhafra