ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...
Economy
TAQA, GS Inima and EWEC seal deal
Abu Dhabi's Shuweihat 4 desalination project secures $444 million.
Business
UNGA welcomes Qatar’s hosting of 2022 FIFA World Cup
The 2022 World Cup, organized by the international football association (FIFA), is the first such event in the Middle East.
- The 2022 World Cup, organized by the international football association (FIFA), is the first such event in the Middle East
- The General Assembly adopted its resolution under the title "The 2022 World Cup organized by FIFA in Qatar."
Business
QIC, QInvest partner to form asset management company
The new company, jointly owned by QIC and QInvest, will be a Sharia'a compliant entity, regulated by Qatar Financial Centre...
- The new company, jointly owned by QIC and QInvest, will be a Sharia'a compliant entity, regulated by Qatar Financial Centre Regulatory Authority
- Founded in 1964, QIC was the first domestic insurance company in Qatar. It is listed on the Qatar Stock Exchange
Geostrategy
Qatar gives $5m to Ukrainian refugees, reminds world of Syrian, Palestinian refugees
Al Khater reiterated Qatar's call for an immediate cessation of military action in Ukraine and securing humanitarian corridors to ensure...
- Al Khater reiterated Qatar's call for an immediate cessation of military action in Ukraine and securing humanitarian corridors to ensure aid access
- She called for resolution of the dispute through constructive dialogue and diplomatic methods, and avoiding what can lead to further escalation
Business
UAE tycoon slams bogus listicles
Forbes recently published Top 10 Richest Arab billionaires list and was criticized for ignoring many nationalities and known wealthy businessmen.
- Forbes recently published “Top 10 Richest Arab billionaires” list and was criticized for ignoring many nationalities and known wealthy businessmen
- Egyptian billionaire businessman Nassif Sawiris with $7.7 billion topped the Forbes list, followed by Algerian Yassaad Rabab and family at $5.1 billion
Business
Dubai issues 24,662 new business licenses in Q1 2022
Dubai has issued 24,662 new business licenses in Q1 2022, a report by the Department of Economy and Tourism (DET)...
- A DET Business Registration and Licensing report said 57 percent of the new business licenses issued during Q1 2022 were professional and 43 percent commercial.
- A total of 136,034 business registration and licensing transactions were completed during Q1 2022, a growth of 36 percent compared to Q1 2021.
Arts & Culture
What determines duration of a Ramadan fast?
The fasting hours are actually determined by geography and vary from one country to another. People in the relatively cooler...
- Hundreds of millions of Muslims across the world abstain from eating and drinking from early dawn to dusk. They also shun sex with their spouses during the fasting hours.
- Some places, like areas near the Arctic where sun appears never to set during certain months, pose a dilemma for the faithful.
Business
India’s Taj Group eyes Gulf expansion, to build hotel in Makkah
The luxury hotel chain is planning 15 new hotels in the next 10 years, which include at least 5 new...
- The luxury hotel chain has planned 15 new hotels in the next 10 years
- This includes at least 5 new properties in Dubai and a new hotel in Makkah
Business
President of Jordan Chambers praises reforms to boost business
President of the Jordan and Amman Chambers of Industry Fathi Jaghbir said Saturday that the National trade window to facilitate...
- Trade facilitation window had helped to reduce the time for clearance and boost the competitiveness of sectors, he said
- Single window for trade carries out the logistical measures of the Customs Department and other entities on clearance and export
Business
Real estate trade volume in Amman $1.6 billion by March end
The total real estate trading volume in Jordan by the end of March reached JD 1.414 billion ($1.6 billion). The...
- Iraqi investors ranked first with a total of 202 real estate sales and Saudi second with a total of 194 sales among non-Jordanian investors.
- Real estate sales in Amman were distributed over 6,077 apartments and 8,265,000 plots of land.
Business
Almarai posts $112m profit in Q1
The Saudi dairy company recorded 9% jump in net profit.
- The Saudi dairy giant posted the jump in profit for the first quarter of 2022 on the back of higher revenue
- Results were attributed to a hike in revenue of 23.6 percent and gross profit of 7.8 percent, even as selling and administration expenses went up
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
ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...
Economy
Company News
Latest News
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
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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