Joint ministerial committee meets US secretary of state
Washington, US – A committee of the Joint Arab-Islamic Extraordinary Summit under the chairmanship of Prince Faisal bin Farhan bin...
Geostrategy
Awaed Alosool launches Sharia compliant investment platform
RIYADH, SAUDI ARABIA - Awaed Alosool Capital announces the launch of the Awaed platform, revolutionizing investment opportunities in public listed companies....
Business
Business
UAE, Bangladesh to expand cooperation in trade, investment
The UAE-Bangladesh Business Forum discussed ways to enhance cooperation between the two countries in the field of trade and investment,...
- An MoU was signed between the two to establish a joint UAE-Bangladesh Business Council.
- The UAE-Bangladesh Business Forum was held at DP World Pavilion at Expo 2020 today in the presence of ministers.
Business
Dubai records $3.64 bn worth of weeklong real estate transactions
Dubai witnessed real estate and properties transactions worth AED13.4 billion ($3.64 bn) during the week ending 11 March 2022, according...
- The top three transactions were a plot of land in Trade Centre Second sold for AED198.15 million, followed by a plot of land that was sold for AED160.14 million in Palm Jumeirah.
- The sum of the amount of mortgaged properties for the week was AED3.83 billion, with the highest being a building in Palm Jumeirah, mortgaged for AED1 billion.
Business
Sharjah Chamber and Argentina to foster ties between businesses
The Sharjah Chamber of Commerce and Industry (SCCI) and an Argentinian delegation discussed ways to enhance cooperation between the business...
- Sharjah Chamber and a delegation from Argentina discussed economic, trade and investment relations at a forum.
- Abdallah Sultan Al Owais, Chairman of the SCCI highlighted the importance of joint work to advance the existing relations.
Business
DP World revenue up by 26.3 percent
The adjusted EBITDA growth was 15.3 percent ($3.828 bn) and capital expenditure $1.393bn.
- The revenue increase from $2.245 billion to $10.778 billion is supported by acquisitions and new concessions including Angola, Unico and Transworld.
- Like-for-like non containerized revenue grew 9.5 percent with a strong performance from the Feedering business.
Geostrategy
Qatar third Gulf country to become major non-NATO ally of US
Qatar became the third country in the Gulf region after Kuwait and Bahrain to be designated by the United States...
- The move gives Qatar special economic and military privileges in its relationship with the US.
- The US and Qatar have had close relations for years, collaborating on a number of issues, including the evacuation of Afghan refugees after Taliban takeover.
Business
UAE, New Zealand partner to strengthen trade relations
According to Statistics New Zealand, the total two-way trade between New Zealand and the UAE in 2021 reached AED8.63 billion...
- ECI and NZEC have agreed to promote the UAE and New Zealand exports and export-related investments
- They will provide tailored trade credit insurance and financial guarantees, backed by their governments
Business
Aramco JV inks China deal
The refinery, in China’s Panjin, should be operational by 2024.
- The liquids-to-chemicals complex is being built by Huajin Aramco Petrochemical Company (HAPCO), of which Aramco is a part
- The other members of the JV are North Huajin Chemical Industries Group Corporation and the Panjin Xincheng Industrial Group
Business
SeaBubbles launches UAE’s first hydrogen flying boat in Dubai
The company is celebrating the pearl legacy of the UAE by unveiling X-Pearl at the Dubai International Boat Show 2022.
- The company is celebrating the pearl legacy of the UAE by unveiling X-Pearl at the Dubai International Boat Show 2022
- The new boat represents the future of green mobility by combining the sensations of flying and sailing for a zero-wave, zero-noise, zero-emission navigation.
Business
Saudi startups collect 58% of $375m in funding in MENA
Saudi startups have secured 58 percent of the total $375 million in funding in the MENA region in February.
- Startups in the logistics sector raised the most funding in February with $120 million in the region, and the Kingdom’s startup Trukker secured $96 million in its series B round
- Saudi Arabia was also the most active in terms of investor participation with 27 deals, while UAE investors participated in 22 agreements
Business
Number of new companies in Ajman China Mall up 12 percent
Ajman China Mall has registered a growth of 12 percent in the number of registered companies in 2021 compared to...
- Out of 1,000 enterprises operating in the mall, the retail sector topped the list followed by the fashion and textile sector.
- The Mall’s yearly import value reached an average of AED 3.65 billion, with export products valued at AED 2.1 billion.
Joint ministerial committee meets US secretary of state
Washington, US – A committee of the Joint Arab-Islamic Extraordinary Summit under the chairmanship of Prince Faisal bin Farhan bin...
Geostrategy
Company News
ADNIC, JAFZA sign insurance pact
Business
Retal’s stock rises 2.4%
Business
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UAE, Indonesian Presidents to enhance bilateral relations
SOLO, INDONESIA - President Sheikh Mohamed bin Zayed Al Nahyan and President Joko Widodo of Indonesia held talks aimed at...
Geostrategy
Etihad Credit Insurance issues $1.71 bn in trade guarantees in nine months
Dubai, UAE---Etihad Credit Insurance (ECI) has issued AED6.3 billion ($1.71 billion) in trade guarantees in the first nine months of...
Economy
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Business
UAE to launch feature-rich, faster EmaraTax platform on Dec.5
Abu Dhabi, UAE --UAE's Federal Tax Authority said Sunday it will launch EmaraTax platform on Dec.5, 2022. The migration to...
- Migration to EmaraTax will begin from end of 30 Nov. and it will be available for use from 5 Dec.
- EmaraTax significantly enhances taxpayer access to the FTA’s services, payment of taxes and obtaining refunds.
Science
Sustainable food cold chains reduce waste, fight climate change, says UN report
Greater investment in sustainable food cold chains is needed to reduce hunger, provide livelihoods to communities and adapt to climate...
- These systems are critical to maintaining the quality, nutritional value and safety of food.
- An estimated 14 percent of all food produced for human consumption is lost before it even reaches consumers.
Videos
Post-Covid UAE real estate upswing to continue
A high number of residential and commercial units delivered in 2022 means tenant retention will become more critical, and rental...
- In a report, real estate advisory firm JLL said that the residential sector was the highest performer “within construction asset awards”.
- The influx of high net worth individuals to the UAE, especially Dubai, and Golden Visa have also boosted the real estate market.