Tabreed gets US$163m Green Revolving Credit Facility
ABU DHABI, UAE - Tabreed on Thursday announced the successful closure of its inaugural US$163 million (AED600 million) Green Revolving...
Business
Business
France donates $5.5m to Jordan for a development project
The Jordan Education for Employment (JEFE) organization and the French Development Agency on Saturday signed a grant agreement worth 5...
- The refugees will be provided training and financial services as per the agreement
- Both parties on Saturday signed a grant agreement worth 5 million euros to launch the project
Arts & Culture
First World Cup in Middle East will be healthiest ever: FIFA President
Several measures will be implemented at this year’s FIFA World Cup Qatar in a bid to promote healthy lifestyles. Senior...
- World Health Organization, Qatar's health ministry and FIFA agree to implement several measures to promote healthy lifestyles at the mega event.
- The three entities will leverage the global power of football to help people lead healthy lives, said WHO Director-General Dr. Tedros Adhanom Ghebreyesus.
Business
Emirates Development Bank to facilitate $8.16 bn in lending by 2025
Emirates Development Bank (EDB) has said it will facilitate direct and indirect lending totaling AED30 billion ($8.16 billion) by 2025,...
- At its first Board meeting of 2022, the bank said it made AED1.91 billion contribution to the UAE’s GDP growth.
- The bank launched a new Credit Guarantee platform, which was able to mobilize more than AED332 million of capital to SMEs.
Business
Suez Canal posts 20% jump in revenue in Q1 of 2022
Suez Canal posted twenty percent increase in revenue in the first quarter of 2022 despite the Russian-Ukraine war disturbing the...
- The Suez Canal Authority recorded $1.7 billion revenue in the first quarter up from $1.4 billion a year earlier
- The number of ships transiting the canal from January to March this year increased by 15.8 percent, to reach 5,303 ships, up from 4,581 ships during the same period last year
Business
Petra records highest number of visitors since Covid pandemic
The ancient city of Petra in Jordan has registered the highest number of visitors since the start of the coronavirus...
- The city's visitors in March were: 43,533 of foreign nationalities, 3,859 from Arab countries and 6,504 Jordanians.
- Only 4,656 visitors of all nationalities, most of whom were Jordanians and Arabs, made it to Jordan's main tourism attraction during the month of March 2021.
Business
Tadawul bars three firms from trading in shares
Tadawul, the Saudi stock exchange, has barred three companies from trading in shares over their failure to issue financial statements...
- The exchange suspended Saudi Cable Co. shares from the main market
- It also suspended Obeikan Glass Co. and Advance International Company for Communication and Information Technology from the Nomu parallel market
Geostrategy
UAE, Israel cooperate to advance maritime transport sector
The MoU is said to be in the field of maritime transport, exchange of experiences, and strengthening strategic partnership.
- The MoU aims to enhance cooperation between the two countries in the field of transport, especially maritime
- It is also expected to help exchange experience and knowledge to serve the future directives for the next 50 years
Economy
Bahrain authorities allay fears over tomato price rise
Bahrain’s Ministry of Industry, Commerce, and Tourism has announced that big shipments of tomatoes would arrive within the next few...
- Bahrain’s Ministry of Industry, Commerce, and Tourism has said it is closely monitoring the availability of products in the central markets
- The ministry is looking to ensure that there are multiple options for basic food products, such as fruits and vegetables, at the usual prices
Business
Fitch Ratings says Saudi corporates’ funding mix is evolving
Saudi corporates’ funding mix is evolving, with the debt capital market for firms increasing noticeably and averaging a 10 percent...
- Fitch also expects the large Islamic banking sector to drive domestic sukuk growth
- Local Sukuk issuances have steadily grown in the local capital market, totalling 41 percent of DCM activity in 2021
Business
DEWA to increase shares for retail investors to 760 million
DEWA has decided to increase number of shares from 260 million to 760 million to be offered to retail investors...
- This means the number of shares offered in the DEWA IPO has increased from 8.5 billion ordinary shares to 9 billion ordinary shares
- Based on the previously announced price range of AED2.25 to AED2.48 per share, the Retail Tranche will now be between AED1.71 billion and AED1.88 billion
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
ACWA Power to start Oman project
Business
Qatar’s excellence in organizing the World Cup refutes all allegations, says IPU head Duarte Pacheco
“Qatar has done everything in the best way, I don't understand some critics, because we didn't find these kind of...
Arts & Culture
Qatar calls for ‘civilized communication’ as FIFA World Cup opens with fervor; host nation loses first match
Fireworks, cultural performances add to the grand opening ceremony attended by regional leaders, heads of delegations and sports panels and...
Arts & Culture
Abu Dhabi launches smart manufacturing index
ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) has launched the 'Abu Dhabi Smart Manufacturing Index',...
Economy
Most Read
Business
Sales of Al Rahmaniyah Commercial Lands begins
SHARJAH, UAE - ASAS Real Estate Company, the real estate arm of Sharjah Islamic Bank (SIB), announced the launch of...
- The project follows increasing demand for the company's latest real estate projects.
- The project benefits from close proximity to Emirates Road, Sharjah Airport and Sharjah University City.
Business
UAE sets 31 Dec. deadline for availing redetermination of tax penalties
Abu Dhabi, UAE---The Federal Tax Authority (FTA) has called on registered taxpayers to benefit from the decision to re-determine administrative...
- Taxpayers asked to ensure they meet the conditions set out in the Cabinet Decision on re-determining administrative penalties imposed on tax law violations in the UAE.
- Eligible taxpayers must complete all related procedures through the e-services portal on its official website before 31 December 2022 to be able to benefit from these facilities.
Arts & Culture
FIFA World Cup Qatar will be the best, says Infantino
Regarding the rights of workers, it is unfair that the world does not see the great progress and clear development...
- The International Federation and Qatar want to present an exceptional tournament, which will make the world feel proud of football, says FIFA President Gianni Infantino
- Regarding the rights of workers, it is unfair that the world does not see the great progress and clear development that the State of Qatar has achieved in this field, he adds