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
Videos
Is GCC inflation getting out of control?
Central bank action and risks to financial stability must be carefully monitored and managed as loose monetary policy is unwound....
- The possibility of emergence of new Covid-19 variant sparks fear of more disruptions in the supply chain, which may add to the inflation woes in the GCC.
- The anticipated global monetary tightening is likely to have an impact on the GCC growth outlook. Supply-driven inflationary risks are also imminent.
Business
Dubai records realty transactions worth more than $430m on Monday
Dubai’s real-estate market on Monday recorded a total of 301 transactions with a total value of AED1.59 billion ($433.22 million).
- In all, there were 294 sales transactions worth AED666.33 million ($181.44 million) throughout the day
- According to the data, Dubai also saw mortgage deals that amounted to AED915.77 million ($249.36 million) on Monday
Infographics
Look: How Gulf inflation evolves in 25 years
GCC countries, like other nations across the world, are exposed to many economic challenges and risks such as higher prices...
- GCC countries, like other nations across the world, are exposed to many economic challenges and risks such as higher prices of basic products and services
- To reduce consumer prices, GCC governments are more focused on supporting the local manufacturing rather than depending on imports
Economy
Explained: Inflation and its impact on GCC
It's time to review how inflation, which measures the overall increase in prices or the increase in the cost of...
- It's time to review how inflation, which measures the overall increase in prices or the increase in the cost of living in a country, is affecting the region?
- Inflation represents how much more expensive the relevant set of goods and/or services has become over a certain time period
Business
Nadec appoints new CEO
The Riyadh-based firm has appointed Solaiman Abdulaziz Altwaijri as its CEO
- Hadsbjerg resigned for "personal reasons", and also left the company's board, according to a bourse statement
- The National Agricultural Development Company is one of the biggest agricultural and food-processing share stock companies in the MENA region
Business
Amiantit appoints new CEO
Feras Bin Ghassab Al-Harbi has held several leadership positions.
- The company took the decision after resignation of its previous CEO.
- The new CEO is already working with Amiantit Co. as the Group CFO.
Business
Bangladesh to partner with UAE to boost trade in Middle East
The Federation of Bangladesh Chambers of Commerce and Industries, or FBCCI, will launch a UAE-Bangladesh Business Council next month to...
- Bangladesh’s Prime Minister Sheikh Hasina is likely to launch the business council
- The business council is expected to strengthening the trade relations with the UAE
Business
Bahrain eyes cooperation with Germany in aviation, tourism
Bahrain's Minister said the private sector plays a key role in strengthening bilateral relations, as it boosts the volume of...
- Bahrain's Minister stressed the importance of attracting more expertise and investments.
- He also highlighted the incentive packages provided by Bahrain for overseas investors.
Business
GFH of Bahrain to list on Tadawul
Bahrain-based Islamic investment bank GFH Financial Group intends to list on the Saudi stock exchange, Tadawul, and Abu Dhabi Securities...
- The financial group will reportedly discuss the option with its shareholders at the general meeting
- The company said shareholders will mandate the board of directors to complete the listing process
Business
AD Ports acquires Divetech
Divetech is a UAE-based topside-subsea solutions provider.
- The acquisition will be fully funded from AD Ports Group’s existing cash reserves.
- Divetech delivered revenue of AED 87 million and EBITDA of AED 20 million in 2021.
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
Latest News
Burjeel IPO raises $300m
Business
ENOC, IHI sign low-carbon ammonia and hydrogen supply chain agreement
Green ammonia, which can be achieved by combining and reacting green hydrogen and nitrogen at high temperatures and pressures, can...
Business
Saudi Ports register 15% growth in October container activity
Container throughput the Kingdom's ports continued its upward year-on-year movement during October 2022, soaring to 694,517 twenty-foot equivalent unit at...
Economy
Most Read
NEOM has a strict data and information security strategy: CEO
Eng. Al-Nasr called for developing new and innovative ways to confront escalation in cyber-attacks and address them quickly.
- Eng. Al-Nasr called for developing new and innovative ways to confront escalation in cyber-attacks and address them quickly
- He called for finding and providing technical security solutions that give access to the best possible safe environment for users of the futuristic city’s technologies
Business
Burjeel’s nine-month net profit $55.83m
The company's revenue grew 17.8 percent year on year.
- The company said the net profit increased mainly due to the Group’s service mix "delivering improved yield and utilization across the network".
- The company raised AED1.1 billion ($299.49 million) after offering a 11 percent stake in an IPO, which was oversubscribed 29 times to over AED32 billion.
Business
e& commits to net-zero operations by 2030
The global technology and investment conglomerate pledged to achieve net-zero for Scope 1 and 2 emissions.
- The global technology and investment conglomerate pledged to achieve net-zero for Scope 1 and 2 emissions
- It will focus on reducing its carbon footprint through improving energy efficiency and sourcing renewable energy among other initiatives