ACWA Power starts commercial ops at phase 2 of Dubai’s Noor Energy
RIYADH, SAUDI ARABIA – ACWA Power Co said it received the initial commercial operation certificate from the Dubai Electricity & Water Authority...
Business
Business
Agthia Group revenues up 49%
The group’s net profit stood at AED216 million in 2021.
- Net profit stood at AED216 million ($58.82 million) compared to AED34 million ($9.26 million) in the previous year
- Of this, AED83 million ($22.6 million) of one-off costs were incurred as a result of a strategic review of the company's balance sheet
Business
DNI inks AECB deal
It will help DNI assess people and companies’ financial position.
- The MoU reportedly underlines DNI’s commitment to transparency within the financial sector
- With it, the insurer apparently aims to serve customers better and secure shareholders’ interests
Infographics
GCC nations see varying CPI in last 5 years
GCC countries have been witnessing a varying degree of change when it comes to Consumer Price Index performance.
- CPI is used to measure the average change in prices — of a fixed basket of goods and services that consumers pay for — over time
- Consumer Price Index also happens to be the one index that is most widely used to measure inflation overall
Business
UAE Chambers, Indian Ocean Rim Association explore enhancing cooperation
Humaid Mohammed bin Salem, Secretary-General of the UAE Chambers said that the UAE's private sector plays a pivotal role in...
- Humaid Mohammed bin Salem, Secretary-General of the UAE Chambers said that the UAE's private sector plays a pivotal role in boosting cooperation with countries of the IORA
- He made this statement during his meeting at Expo 2020 Dubai with the visiting Chair of the Indian Ocean Rim Business Forum (IORBF) Fazal Shaikh
Business
Arab News joins hands with Arab Women Forum
Arab women leaders will share their success stories, challenges and opportunities at the Forum organized by Special Edition in Dubai...
- Senior government officials, women business leaders, academicians, technocrats, and entrepreneurs are expected to participate in this year’s Forum
- The Forum will discuss topics ranging from the image of Arab women to the issues with a quota system, workplace of the future, women entrepreneurs and Arab women in technology
Geostrategy
Bahrain pledges $1 million as aid for refugees fleeing Ukraine
UN Secretary-General Antonio Guterres had called for resources to meet the increasing humanitarian needs in Ukraine.
- Ukrainians and people from other nationalities, without discrimination, will benefit from the relief, said Bahrain's Royal Humanitarian Foundation.
- The relief is also in response to an urgent appeal from the United Nations and the Regional Refugee Response Plan.
Business
Dubai Airports launches ‘DAWN’ to empower women
Dubai Airports, the operator of Dubai International (DXB) and Dubai World Central (DWC), has announced the launch of the new...
- The DAWN platform will provide a range of networking and knowledge sharing opportunities while contributing to Dubai Airports’ ability to maintain a balanced work environment
- It was launched on International Women’s Day, which celebrates the social, economic, cultural, and political achievements of women
Business
King Abdulaziz Port records highest daily container throughput
The King Abdulaziz Port in Dammam recorded the highest daily container throughput at Saudi ports by handling a total volume...
- The port succeeded in achieving the feat through its integrated operational mechanism of maritime and logistical services.
- The landmark milestone was reached when COSCO Shipping Capricorn with an overall length of 400m docked at the Dammam port.
Geostrategy
Toolkit launched to help business fight illegal wildlife trade funding
The government of the UAE has worked with the UK government to launch a toolkit to support financial institutions in...
- The illegal wildlife trade is the fourth-largest organized crime after drugs, human trafficking, and counterfeiting, costing $23 billion annually.
- According to the WWF, approximately 20,000 African elephants are killed by poachers each year, and rhino poaching has soared since 2007.
Economy
Remittances: Ukraine flows may rise by 8 percent, Central Asian countries hit
Remittances to Ukraine, which were around 12 percent of its GDP and nearly three times the size of foreign direct...
- Remittances were around 12 percent of Ukraine's GDP and nearly three times the size of foreign direct investment in 2021.
- Azerbaijan, Armenia, Tajikistan, and Uzbekistan received more than 50 percent of their remittance inflows from Russia from Q1-Q3 2021.
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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
ADNEC, MICCO sign agreement
Business
Latest News
MoIAT, Burjeel Holdings sign MoU on healthcare facilities
ABU DHABI, UAE -UAE's Ministry of Industry and Advanced Technology (MoIAT) has signed a Memorandum of Understanding (MoU) with Burjeel...
Business
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Economy
Saudi Aramco, Energy ministry ink pact to build a carbon capture and storage hub
Saudi Arabia is embarking on initiatives such as the Saudi Green Initiative and the Middle East Green Initiative to meet...
- Saudi Arabia is embarking on initiatives such as the Saudi Green Initiative and the Middle East Green Initiative to meet its climate change commitments
- The first package of ongoing activities as part of Saudi Green Initiative, includes investments in the green economy worth more than $186 billion
Economy
Infra investment key to climate change adaptation
“We need to build a coherent framework of trade and investment policies supported by roadmaps that can accelerate the energy...
- There is a need to develop climate-smart policies to promote international trade and investment in mitigation and adaptation projects, says WTO official
- Fostering cooperation to develop common approaches to carbon pricing is critical to driving new transformations, Dr Ngozi Okonjo-Iweala highlights
Geostrategy
Jordan King Abdullah meets UK king Charles III
King Abdullah said that Jordan looks to further advance relations with the UK, building on the strong ties between the...
- King Abdullah said that Jordan looks to further advance relations with the UK, building on the strong ties between the two royal families and peoples
- Discussions covered the importance of bolstering cooperation across all sectors in the mutual interest of the two countries