Dubai Customs logs 13% growth in transactions in first nine months of 2023
DUBAI, UAE – Dubai Customs has experienced a robust 13 percent increase with 21.6 million transactions during the first nine...
Economy
UAE defense ministry orders 100 REACH-S unmanned aircraft from EDGE
DUBAI, UAE - EDGE, one of the world's leading advanced technology and defense groups, announced its first major order from...
Business
Geostrategy
Qatar to distribute cash assistance for February to Gaza needy
Cash assistance will be provided at a rate of USD 100 per family.
- Cash assistance will be provided to about 100,000 needy families in the governorates of Gaza Strip, at a rate of $100 per family.
- The aid will be distributed through the United Nations, and nearly 300 distribution centers in the governorates of Gaza Strip.
Business
UAE, Hungary sign MoU to establish joint business council
The UAE Federation of the Chambers of Commerce and Industry (FCCI) and the Hungarian Chamber of Commerce and Industry (HCCI)...
- The MoU was signed by Hamid Mohammed bin Salem, FCCI Secretary-General, and Péter Szijjártó, Minister for Foreign Affairs and Trade of Hungary.
- The parties inked the MoU at the Hungarian pavilion at Expo 2020 Dubai on the sidelines of the third meeting of the UAE-Hungarian Business Committee.
Economy
Governors of UAE and Turkey central banks to collaborate in banking sectors
The meeting was held on the sidelines of the official visit of Turkish President to the UAE.
- The currency swap agreement was signed in January 2022, which promotes the financial, commercial and investment interests of the two countries.
- Senior officials from both the central banks were present in the meeting which was held in Abu Dhabi.
Business
Majority of Saudi nationals positive about tourism sector jobs: Study
A sizable number of Saudis look positively at jobs in the tourism sector, according to a study by the kingdom's...
- Overall, 80 percent of respondents felt that there were plenty of opportunities for career learning, while 75 percent felt careers in tourism will provide long-term stability.
- The regions with the highest interest in careers in tourism include Tabuk (91 percent), Hail (86 percent), Asir (85 percent), Riyadh (82 percent) and Al Jouf (83 percent).
Business
Ghazl El Mahalla of Egypt puts off its listing to April
The Egyptian football club Ghazl El Mahalla has put off its listing on the stock exchange to April. The listing...
- The prospectus, according to Mohamed Maher, from investment bank Prime Holding, for the initial public offering on the Egyptian bourse will be completed within days
- The sporting club had earlier closed a private placement of 37 million pounds ahead of the public offering
Business
Dubai records $1.22 billion worth of weeklong real estate transactions
A total of 2,098 real estate transactions worth AED4.5 billion ($1.22 billion) were conducted during the week ending 18 February...
- A total of 252 plots were sold for AED1.1 billion, 1,437 apartments and villas were sold for AED2.47 billion.
- Among the top three transactions was a plot of land in Palm Jumeirah that sold for AED60 million.
Business
BHM posts 125 percent rise in profit
The company nearly doubled its brokerage revenues in 2021.
- The company attracted 1,500 new accounts over the past year compared to 1,060 in 2020.
- BHM said it allocated a total income during 2021 of AED 65.4 million compared to about AED 41 million last year with a growth rate of 60 percent.
Business
Saudi Parts Center to list on Nomu
Saudi Parts Center Co. will begin trading on Nomu, the Saudi stock exchange's parallel market, on Monday, according to a...
- The Riyadh-based company received the Saudi stock market regulator’s approval for listing last year, in late December
- Established in 1988, Saudi Parts Center is an affiliate of AlKhorayef Group, operating under the machinery systems division
Business
UAE Cabinet okays trading cooperative shares on financial markets
The move is said to be conducive to strengthening the regulatory environment of the cooperatives sector and driving their economic...
- The development is apparently the first of its kind in the region
- It is aimed at growing the cooperative sector’s contributions to the economy
Economy
Bahrain updates Covid protocols, cancels isolation for contacts of active cases
Tests will be only be conducted for individuals experiencing COVID-19 related symptoms if the result of the rapid test is...
- Tests will be only be conducted for individuals experiencing COVID-19 related symptoms if the result of the rapid test is positive.
- All passengers arriving in the Kingdom of Bahrain do not need to conduct a PCR test upon arrival
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Dubai Customs logs 13% growth in transactions in first nine months of 2023
DUBAI, UAE – Dubai Customs has experienced a robust 13 percent increase with 21.6 million transactions during the first nine...
Economy
Company News
Latest News
UAE to unveil its Net Zero by 2050 roadmap at COP27: Almheiri
‘The UAE is also working on a comprehensive assessment of the status and movement of sustainable financing solutions, including green...
Economy
UAE’s climate initiatives to benefit private sector
The Gulf country will reveal the mechanisms for implementing its strategic initiative to achieve climate neutrality 2050, as part of...
Geostrategy
Commercial operations begins at Al-Zour Refinery project in Kuwait
Kuwait City, Kuwait - The Kuwait Integrated Petroleum Industries Company (KIPIC) has started commercial operations of the first phase of...
Business
Most Read
Videos
Middle East’s sports path to boosting tourism
The Arabian Gulf countries have hosted some of the biggest sporting events during the past decade. The World Cup is...
- Doha and Riyadh have been selected to host the upcoming editions of the Asian Games---Doha in 2030 and Riyadh in 2034.
- The mountain resort of Trojene, which is being developed in Saudi Arabia's futuristic Neom city, will host the 2029 Asian Winter Games.
Geostrategy
SCC approves proposals on Council’s establishment law
SHARJAH, UAE - The Sharjah Consultative Council (SCC) approved several proposals submitted by the council's members on the Consultative Council...
- The session was chaired by Ali Mehd Al Suwaidi, Chairman of the Council
- The members discussed the proposed amendments in terms of the council's legislative and oversight role.
Science
‘UAE to reveal implementation map of Net Zero 2050 at COP27’
Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said the UAE’s participation in the 27th session of...
- A UAE minister said the COP27 focuses on financing and ensuring equitable participation of developing countries in climate action efforts.
- She said the UAE will invite the world to participate in the efforts to spread and use renewable energy.