Saudi EXIM Bank, Obeikan AGC ink pact
Obeikan AGC Glass will have an export credit insurance policy.
Business
$5.8bn worth deals signed in first four days of Dubai Airshow 2023
DUBAI, UAE – Tawazun Council signed 16 deals, worth US$1.3 billion (AED 4.87 billion), with local and international companies on...
Business
Business
Dubai Derma 2022 registers $540m in business deals, attracts 21,000 visitors
The Dubai World Dermatology and Laser Conference and Exhibition (Dubai Derma 2022) concluded its 21st edition on Wednesday, and registered...
- It focused on various developments related to cosmetic surgery, lasers, cosmetic dermatology and anti-ageing, among others.
- The conference featured 326 scientific lectures, 79 workshops, and more than 90 scientific poster presentations.
Business
TAQA to recommend $600m dividend
The company has already paid $500m in quarterly dividends.
- The dividend payment will be in addition to the final payment of AED1.2 billion ($330 million).
- AED1.9 billion ($500 million) (1.65 fils per share) have already been paid in quarterly dividends.
Economy
Central Bank of UAE approves creation of 5,000 jobs for Emirati nationals
The Central Bank of UAE has approved the creation of 5,000 new jobs by the end of 2026 for Emirati...
- The jobs have been announced as part of the Emiratization of managerial positions in the banking and insurance sectors.
- The jobs will be created in coordination with the Emirates Institute for Banking and Financial Studies and the Emirati Talent Competitiveness Council.
Business
Emirates opens office in Fujairah
The office is located in Al Ghilaila Building, overlooking the Fujairah corniche.
- Emirates has worked in partnership with dnata Representation Services as its General Sales Agent (GSA) in Fujairah for the past three decades.
- The new retail sales office four customer service counters dedicated to flight reservations, ticketing, and general customer enquiries.
Business
Demand for gas and wheat drives Suez Canal’s business up 15%
The Suez Canal has seen a fifteen percent jump in business as ships carrying wheat and gas have filled the...
- Grain exports will make their way to Northwestern Europe while iron exports will go to Canada and Northwestern Europe
- the Suez Canal will begin applying additional fees, ranging from 5 to 10 percent of the transit fees, for various categories of ships transiting the channel
Geostrategy
UAE makes $5m donation to UN’s Humanitarian Plan for Ukraine
The United Arab Emirates has offered $5 million in assistance to Ukraine to tide over problems suffered by civilians in...
- The contribution is made to the United Nations’ Humanitarian Flash Appeal and the Regional Refugee Response Plan for Ukraine
- The UAE has underscored the importance of focusing on the deteriorating humanitarian situation for civilians
Business
Yahsat revenue $123m in 2021
The company signed several contracts in Data and Mobility solutions businesses.
- Yahsat said it is well-positioned to grow in 2022, with approximately 70 percent of the Group's 2022 projected revenues contracted as of 31 December 2021.
- In 2021, Yahsat achieved an Adjusted EBITDA margin of 59 percent with Adjusted EBITDA of AED883.2 million [$240.5 million].
Business
Romania-UAE Business Forum promotes economic collaboration
Romanian business leaders were speaking at Romania-UAE Business Forum at Expo 2020 Dubai.
- Romanian business leaders were speaking at Romania-UAE Business Forum at Expo 2020 Dubai
- Private sector representatives from the UAE and Romania called for harnessing available opportunities to create joint investment ventures
Business
Master Works raises $40m
The transaction was done by Merak Capital.
- Founded in 2010, Master Works offers products and services across multiple technology fields
- They include data management, AI, data strategy, API management, software development, and RPA
Business
Saudi Central Bank licenses new payment fintech company
Named Moyasar Financial Company, the new entity is expected to provide ecommerce payment services.
- The total number of payment companies licensed by SAMA now stands at 16
- This is in addition to nine companies that were granted an in-principle approval
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Saudi EXIM Bank, Obeikan AGC ink pact
Obeikan AGC Glass will have an export credit insurance policy.
Business
Company News
SEIC strikes US$150m deal
Business
Latest News
Multiply Group buys 80% of IEH
Business
Abu Dhabi to host World Islamic Economic Forum in 2024
Launched in 2005 by the WIEF Foundation, the WIEF is a global platform created to promote and discuss the latest...
Economy
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Business
Villas, apartments form major chunk of $598m Dubai realty deals Tuesday
Dubai, UAE---Dubai real estate market recorded realty deals worth AED2.2 billion ($598 million) on Tuesday, according to the data by...
- The deals include 544 sales transactions worth AED1.64 billion, in addition to 78 mortgage deals of AED590.54 million.
- Residential properties in the UAE remain a top priority for international real estate investors.
Business
Al Arabia’s profit up 43%
Its profit rose to $52 million in first nine months.
- The Riyadh-based firm, partly owned by media giant MBC group, saw its revenue jump 64 percent to $216 million
- It added that the results were bolstered by the company's efforts to enhance regional expansion and enter new projects and strategic partnerships
Economy
AIIB, GEAPP partner to fund the energy transition in Asia and beyond
The partnership will address the energy transition challenges around the world through the identification of co-financing opportunities for projects.
- The partnership will address the energy transition challenges around the world through the identification of co-financing opportunities for projects
- The partnership follows extensive cooperation between AIIB and GEAPP over the last year and is the first time AIIB has partnered with a global foundations-led initiative