Dubai faces warehouse shortage, says new report
DUBAI, UAE — The supply of under construction warehouse stock in Dubai’s industrial market stands at 1.56 million square feet according...
Business
Business
ADQ of Abu Dhabi to buy majority stake in Unifrutti Group
ADQ, Abu Dhabi wealth fund, will buy a majority stake in Unifrutti Group, a fruit and vegetable producer, marketer, and...
- The acquisition is designed to secure food supply amid pandemic and geopolitical tensions
- The investment will help the group expand its footprint globally, along with enhancing food security in the UAE
Business
ADEX, Korea Eximbank to collaborate on export financing
The two sides discussed co-financing solutions for Korean organisations seeking to import goods and services from the UAE.
- The two sides discussed co-financing solutions for Korean organisations seeking to import goods and services from the UAE
- ADEX was established by Abu Dhabi Fund for Development (ADFD), to drive diversification and growth of the UAE export economy
Business
DNIR approves 30% dividend
The dividend of the company totals AED 34.650 million.
- Shareholders also approved DNIR’s financial statements for the year ended 31st December 2021
- Khalaf Ahmad Al Habtoor, Chairman of the Board of Directors, said the dividend is indicative of the company’s financial strength
Business
UAE, Jordan discuss accelerating investments post-Expo 2020
At the meeting, the two sides called for intensifying visits by trade delegations from both countries and increasing the number...
- The two sides believe the momentum from Expo 2020 will apparently continue in the fields of agricultural and food trade
- They also see it in the pharmaceuticals and furniture industry, and the proliferation of fairs and exhibitions around the world
Business
Abu Dhabi Police ban heavy vehicles during peak hours in Ramadan
The decision is said to have been taken in cooperation with Abu Dhabi Police's strategic partners.
- Heavy-duty trucks, lorries, and buses carrying more than 50 passengers would be banned on Abu Dhabi and Al Ain roads
- During Ramadan, such vehicles would not be allowed on the roads between 8 am and 10 am, and from 2 pm to 4 pm
Business
Abu Dhabi Chamber and San Marino to boost trade cooperation
Abu Dhabi and San Marino will explore new avenues of economic cooperation and boosting trade. Saeed Ghumran Al Remeithi, Deputy...
- Saeed Ghumran Al Remeithi, Deputy Treasurer of Abu Dhabi Chamber, met with Fabio Righi, San Marino’s Minister of Industry.
- Remeithi noted Chamber's readiness to provide all the necessary support to investors and entrepreneurs from San Marino.
Business
Dubai food trade grew 11 percent to $15.51 billion in 2021
Dubai Customs said Thursday the emirate’s external foodstuff trade in 2021 grew 11 percent to reach AED57 billion ($15.51 billion),...
- Exports grew 11.3 percent to AED10.8 billion from AED9.7 billion in 2020, while re-exports went up by 10 percent to AED 7.9 billion from AED 7.2 billion.
- In terms of volume, Dubai traded 14.1 million tons of foodstuff in 2021, which included 9.9 million tons of imports, 3 million tons of exports, and 1.1 million tons of re-exports.
Economy
President of World Banks says MENA must create 300m jobs
To achieve development goals, the MENA region must create three hundred million jobs, according to President of the World Bank...
- Malpass noted that MENA countries often fail to rise to developmental challenges, and it could have “serious implications for livelihoods"
- According to Malpass, Gulf Cooperation Council countries were initially concerned about the global community’s desire to shift away from oil
Business
Alba, EGA sign MoU
Aluminum Bahrain (Alba) is looking to increase its throughput.
- The two Aluminum producers will cooperate to creep production at Alba’s Potline 6 beyond its name plate design capacity.
- They will also explore ways to use EGA technology and expertise in future expansions at Alba smelter.
Geostrategy
Tunisia reaffirms its support for Palestine freedom
Tunisia’s Ministry of Foreign Affairs on Wednesday commemorated the forty-sixth anniversary of Earth Day, where they affirmed their support for...
- It supports the restoration of Palestinian historical rights that do not fall within the statute of limitations
- Tunisia also expressed its support and keenness to actively contribute to all international and regional initiatives
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Dubai faces warehouse shortage, says new report
DUBAI, UAE — The supply of under construction warehouse stock in Dubai’s industrial market stands at 1.56 million square feet according...
Business
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SABB posts 26% profit rise
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DEWA shares drop 2.8%
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ADFD takes part in foreign investors meet in Uzbekistan
ABU DHABI, UAE - Abu Dhabi Fund for Development (ADFD) participated in the first plenary session of the Council of...
Geostrategy
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Geostrategy
UAE Minister discusses economic ties with Caribbean countries
ABU DHABI, UAE - UAE Minister of Economy Abdullah bin Touq Al Marri visited the Havana International Fair 2022 in...
- The visit was aimed at exploring opportunities for cooperation and establishing new economic partnerships between the UAE and Caribbean region.
- The UAE minister met several ministers from the Caribbean nations to discuss mechanisms to enhance economic and trade cooperation.
Business
Dubai Islamic Bank, Al Ramz Corporation announce strategic alliance
Dubai Islamic Bank will now provide brokerage and related services to its clients through Al Ramz Capital.
- Dubai Islamic Bank will now provide brokerage and related services to its clients through Al Ramz Capital
- The brokerage service was earlier provided through its subsidiary Dubai Islamic Financial Services
Economy
Qatar issues licenses to 3500 holiday homes to house World Cup visitors
Qatar faces the challenge to accommodate 1.2 million fans expected to attend the FIFA World Cup.
- Qatar faces the challenge to accommodate 1.2 million fans expected to attend the FIFA World Cup
- More than 160 round-trip flights are scheduled daily from neighbouring Gulf countries to allow them to accommodate supporters