NDMC arranges $2.5bn credit facility
The Shariah-compliant facility spans a tenure of three years.
Business
QEWC 2023 net profit US$426m
Business
Ford Middle East sales up 63%
Business
Two falcons sell for $81,300 at Saudi Falcons Club Auction
Riyadh, Saudi Arabia - Two falcons were sold for a combined total of $81,300 (SAR305,000 ) on the tenth night...
Arts & Culture
Business
Nearly 5,000 member companies join Sharjah Chamber in 2023
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has logged an impressive surge in new memberships this...
- The Chamber’s main branch and its other branches in Al Dhaid, Khor Fakkan, Dibba Al-Hisn, and Kalba now boast 45,373 active members.
- The total export and re-export values of the members of the Sharjah Chamber reached US$4.6 billion through the third quarter of the current year.
Business
Dubai’s top 10 land deals in 2023 is worth US$2.3bn
DUBAI, UAE – A real estate brokerage based here has compiled the 10 largest land deals in the Emirate since...
- The recovery in land sales reflects developers’ efforts to acquire the best plots for launching real estate and commercial projects.
- Several sale deals in Dubai focus on investors’ desire to buy land for investment purposes and get high returns as prices continue to rise.
Business
EasyLease Q3 revenue $57.66m
It's net profit was AED 26.5 million ($7.21m) in Q3 2023.
- it's net profit was AED 26.5 million ($7.21m) in Q3 2023, compared to AED 32.73 million ($8.91m) YoY over Q3 2022.
- Cost-effectiveness, exceptional maneuverability and expedited travel, are driving the popularity of two-wheelers in the UAE.
Business
Mawani, SGP ink US$266m pact
The aim is to establish multiple logistics zones in the Kingdom.
- The objective is to establish logistics zones that will enhance efficiency of the sector, improve service quality and generate additional job opportunities.
- This initiative is expected to strengthen the role of the logistics sector in supporting the national economy.
Geostrategy
Ground operation likely in Gaza Strip, says Israeli envoy to Russia
MOSCOW, RUSSIA - The probability that the Israel Defense Forces (IDF) will launch a ground operation against Palestinian group Hamas...
- Israel announced a total blockade of the Gaza Strip.
- Israeli forces have been bombarding the area.
Business
Air Arabia launches non-stop flights between UAE’s Sharjah, Egypt’s Giza
SHARJAH/ ABU DHABI, UAE - Air Arabia announced the launch of a new route operating between Sharjah and Giza city...
- The non-stop flights will connect Sharjah International Airport with Giza and will have a frequency of five weekly flights.
- British Airways announced that it will launch daily flights from London to Abu Dhabi next year.
Business
PIF announces pricing of inaugural $3.5bn global sukuk issue
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) on Thursday successfully priced its first dollar-denominated Shariah-compliant trust certificates (sukuk).The...
- The issuance will be listed on the London Stock Exchange’s International Securities Market (ISM).
- The sukuk issuance was more than seven times oversubscribed, with orders exceeding $25 billion,
Geostrategy
Russia ready to discuss Turkey’s idea about guarantors for Israel, Palestine, says Lavrov
PYONGYANG, NORTH KOREA - Russia is ready to discuss and consider Turkey’s initiative to establish a guarantor system in the...
- According to the Russian foreign minister, the initiative is driven by the intention to de-escalate things and bring the situation back to normal.
- He said that the Turkish initiative is rooted in the desire to ensure a balance of interests, rather than favoring one party.
Business
Saudi Metrology Organization, Enterprise Singapore ink MoU on standardization
RIYADH, SAUDI ARABIA – The Saudi Standards, Metrology and Quality Organization (SASO) and Enterprise Singapore signed an MoU here, focusing...
- The pact encompasses cooperation and the exchange of best practices and experiences in metrology, calibration and safety of consumer products.
- The MoU includes provisions for training, capacity building and collaboration in the development of infrastructure for standards and quality.
Geostrategy
Neighboring nations fear repercussions of Gaza conflict
As Israel advises around 1.1 million residents of northern Gaza Strip to evacuate, concerns grow about the potential ripple effects...
- With Israel advising a significant portion of Gaza's population to evacuate, the potential repercussions on neighboring Lebanon, Jordan and Egypt are being gauged
- As the situation unfolds amid the Middle Eastern conflict, the strategies and stances of key players, including Lebanese Hizbollah and Hamas, come to the forefront
NDMC arranges $2.5bn credit facility
The Shariah-compliant facility spans a tenure of three years.
Business
Company News
QEWC 2023 net profit US$426m
Business
Ford Middle East sales up 63%
Business
Latest News
Air Arabia 2023 net profit $408m
Business
Dubai Taxi Company net profit up 54%
The company will pay a dividend of $19.33 million for Q4.
Business
e& pledges $6 billion to advance connectivity in 16 countries
Barcelona, Spain -- e& Friday pledged to invest $6 billion between 2024 and 2026 in technological advancement, infrastructure development, and...
Business
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Business
Binaa Al Bahrain aims to create expansive mixed-use projects
ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al...
- Binaa Al Bahrain aims to contribute to Bahrain’s long-term development through its iconic projects.
- The JV aspires to create job opportunities for Bahrainis in the real estate, hospitality and healthcare.
Business
UAE-based banks aggregate capital, reserves reach US$131bn by end of November 2023
ABU DHABI, UAE- The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching US$131 billion...
- The aggregate capital and reserves of UAE-based banks increased 12.3 percent or US$14.4 billion during the first 11 months of 2023
- National banks accounted for 86.5 percent of the total capital and reserves of UAE-based banks logging $113 billion by end of November 2023
Business
Real estate transactions worth over US$74m take place in Qatar in week
DOHA, QATAR - The volume of real estate trading in the country in sales contracts at the Department of Real...
- Total sales contracts for residential units in the Real Estate Bulletin for the same period were US$8 million.
- The list of real estate properties traded for sale include vacant lands, houses, a residential building, and residential units.