UAE voted to Category-B membership in International Maritime Organization
LONDON, UK - The UAE has been re-elected to the Council of the International Maritime Organization (IMO) in the Category...
Geostrategy
Debt Settlement Fund waives default loans worth over US$107m in UAE
DUBAI, UAE - The Citizens Debts Settlement Fund announced the exemption of 1,244 citizens from their debts with a total...
Geostrategy
Business
AHOY raises $20m in financing
AHOY, a UAE and Saudi operating logistics startup, has raised $20 million in financing from undisclosed investors.
- AHOY uses tech-driven infrastructure to optimize mobility for enterprises, and will use its latest funding to expand its reach to African and Latin American markets
- It has grown 25 times in terms of revenue, number of transactions, and tech deployment from 2020 to 2021
Business
YPO Gender Equality Survey: Executives must prioritize mental health
Mental health is a priority for 99 percent of female and 92 percent of male executives, according to the Gender...
- The survey with 300 leaders, of all ages, across 57 countries, was aimed at raising awareness around gender equality.
- Loneliness as a challenge within the workplace has decreased from 2021 and was referenced by fewer than 15 percent of the participants.
Business
Yahsat and Al Seer Marine to test line-fitting unmanned vessels
Yahsat Government Solutions (YGS) and Al Seer Marine PJSC will test line-fitting unmanned vessels with advanced Comms-on-the-Move (COTM) satellite communications...
- The two entities signed an MoU regarding the same on Tuesday at World Defence Show in Riyadh according to a press release
- The MoU will enable Al Seer Marine to build on Yahsat’s extensive experience in delivering highly secure satellite communications
Business
Dubai real estate market posts sales worth $248m
Dubai’s real estate market recorded 368 sales transactions worth $247.66 million and mortgage deals of $48.27 million.
- Mortgage deals worth $48.27 million was also recorded in Dubai
- This was in addition to 70 gift transactions amounting to $34.5 million
Business
Moody’s depicts a bleak outlook for sukuks in 2022
Moody’s has depicted a bleak outlook for sukuks in the current year because of a spike in oil prices and...
- However, the risk assessment firm expects Islamic finance to grow even more in 2022 as economic recovery continues in the GCC
- According to Moody’s, Islamic fund AUM continued to grow robustly in 2021 as the economy improved and equity markets performed well
Business
$2.1bn in deals signed at Saudi Arabia’s first defense show: GAMI
Saudi Arabia's first World Defense Show has seen the signing of 22 industrial partnerships with domestic and international defense companies...
- General Authority for Military Industries (GAMI), which is also the regulator of the Kingdom’s defense sector, said that the deals cover a broad range of activities.
- GAMI is the founder of the World Defense Show and the defense industries sector’s regulator.
Geostrategy
UAE, Croatia discuss advancing economic partnership
Dr Thani bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade met Tomislav Ćorić, Croatia's Minister of...
- Dr Thani bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade met Tomislav Ćorić, Croatia's Minister of Economy and Sustainable Development at Expo 2020 Dubai
- The two agreed on the importance of growing trade exchanges and accelerating FDI flows between the two nations
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
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
UAE voted to Category-B membership in International Maritime Organization
LONDON, UK - The UAE has been re-elected to the Council of the International Maritime Organization (IMO) in the Category...
Geostrategy
Company News
Burjeel begins trading on ADX
Business
Al Sagr to cut capital
Business
Almarai posts profit in Q3
Business
Latest News
e& forays into the metaverse
Business
Shamma bint Sultan becomes first person from Middle East to join CEMUNE
The CEMUNE works to foster deeper cooperation on key global challenges and has been recognised for contributing to regional and...
Kuwait to develop 400 projects on Saji Island
Kuwait City, Kuwait—Kuwait will set up more than 400 local development project on Saji Island, according to the acting director...
Business
‘Culture is prerequisite for peace in the world’
A robust cultural and creative sector remains at the heart of the UAE’s growth strategy and to give it a...
Arts & Culture
Most Read
Economy
Technological innovations drive climate action across GCC, say UAE, Saudi leaders at COP27
The Kingdom has moved from ambition to action during the past two years to empower people, protect the planet and...
- The Kingdom has moved from ambition to action during the past two years to empower people, protect the planet and shape new horizons, says Saudi minister
- The COP27 in Egypt, COP28 in the UAE next year and the Saudi Green Initiative are all opportunities that we can move forward, says UAE minister Mariam Almheiri
Science
UAE ministry launches Green Business Toolkit 2.0 at COP27
The Ministry of Climate Change and Environment (MOCCAE) introduced the second edition of the UAE Green Business Toolkit in partnership...
- The move aligns with the UAE’s pathway to net-zero and supports sustainable economic development.
- The UAE Green Business Toolkit 2.0 seeks to benefit from the business sector's increasing awareness about the importance of achieving net-zero.
Business
GE, IRENA sign pact at COP27 to support energy security
SHARM EL SHEIKH, EGYPT - GE (NYSE:GE) signed a framework agreement with the International Renewable Energy Agency (IRENA) to support...
- GE, IRENA agreed to cooperate across several aspects including decarbonisation, thought leadership, adoption and sustainable use of renewable energy.
- GE and IRENA will explore how to jointly support decarbonisation efforts in critical markets and sectors.