BCCI yet to hear officially about Saudi interest for stakes in IPL
NEW DELHI, INDIA - Recent reports of Saudi Arabia expressing an interest in buying a stake in the Indian Premier League...
Business
Geostrategy
DEWA first in the world to win 8 stars in EFQM Innovation Lens
Dubai Electricity and Water Authority (DEWA) has achieved 8 stars level in the European Foundation for Quality Management (EFQM) Innovation...
- DEWA achieved a score of 800 on this award that measures innovation culture and its role in achieving results in leading organizations worldwide.
- DEWA made many achievements in the field of excellence in 2021, including winning the Sheikh Khalifa Excellence Award (SKEA) in the Elite Category.
Economy
Cooper Fitch forecasts strong GCC hiring activity to continue in 2022
The Gulf Cooperation Council region witnessed a 40 percent rise in job creation in the last quarter of 2021 compared...
- Job creation across the region was driven primarily by a significant recovery in the UAE and Saudi Arabia.
- Real estate, public, software development, cyber security, sales and marketing sectors witnessed a significant increase in hiring.
Business
Contracts worth $2.3 bn awarded across Aldar development projects
Aldar Properties (Aldar) said on Tuesday that contracts worth more than AED8.5 billion ($2.3 billion) were awarded across its development...
- A total of 16 contracts were awarded in infrastructure, residential, commercial, and mixed-use projects in Abu Dhabi.
- The contracts were awarded to 14 They UAE-based contractors, which contributed to the growth of economy, Aldar said.
Geostrategy
UAE and Belgium look to boost security ties
The UAE and Belgium have signed a memorandum of understanding (MoU) in order to strengthen cooperation in the fields of...
- The UAE was represented by Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior
- The memorandum is aimed at stepping up joint cooperation between the two countries, developing bilateral relations in the security and police fields
Business
Bahrain to offer permanent residency visa to attract talent
Bahrain has launched ‘Golden Residency Visa’ for residents and non-residents with immediate processing of the applications electronically upon meeting the...
- The move is a part of the Kingdom’s strategy to attract foreign investments where the visa holders will enjoy benefits
- Bahrain’s ‘Golden Residency Visa’ will be available for qualifying residents, allowing them to take advantage of the benefits
Business
Volume growth helps AD Ports Group post $230m net profit in 2021
The company posted a net profit of $230m in 2021, from $108m in 2020.
- As of 31st December 2021, the total assets of the Group stood at AED28.5 billion.
- In January 2022, the Group received ownership stakes from ADQ in two listed companies--Aramex and National Marine Dredging Company.
Economy
High electricity bills in Jordan due to rise in winter consumption: Regulator
Jordan’s Energy and Minerals Regulatory Commission ascribed any rise in the electricity bill to high demand during this winter when...
- Jordan’s Energy and Minerals Regulatory Commission ascribed any rise in the electricity bill to high demand during this winter when the electricity load was at 4,010 megawatts
- The regulator referred to repeated complaints about higher electricity bills during summer or winter when temperatures rise or fall, prompting consumption to soar
Geostrategy
US to help UAE stop drone attacks
This comes amid recent attacks on the UAE by Houthi rebels from Yemen, which have prompted global condemnation.
- General Kenneth F McKenzie, head of the US Central Command is on an official visit to the UAE
- He said the US was working with the UAE to develop more effective solutions to stop drone attacks
Business
Industries Qatar profit up 321%
The company achieved a net profit of QR 8.1 billion for 2021.
- Industries Qatar said in a statement that the Group revenue significantly improved by 77 percent to reach a record QR 20.2 billion
- Earnings per share (EPS) amounted to QR 1.34 for the year, versus QR 0.32 for last year
Business
MENA Transport Congress Exhibition kicks off in Dubai
The fourth edition of the MENA Transport Congress & Exhibition began on Monday in Dubai.
- The three-day event is organized by Dubai’s Roads and Transport Authority, and includes 13 sessions, five of which are main sessions
- The sessions will discuss the smart transport service, eco-friendly electric buses, artificial intelligence and big data, first and last-mile trips
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
Company News
AlBabtain launches IPO
Business
Latest News
Arriyadh posts 20% profit drop
Its profit declined to $69.6m in the first nine months of 2022.
Business
Saudi, Turkish media leaders discuss cooperation
The meeting discussed news exchange, news agencies, radio, Television, media regulation and international media relations.
Business
ACWA Power to build 10 gigawatts wind project in Egypt
Riyadh, Saudi Arabia— ACWA Power Company of Saudi Arabia has signed an agreement with Egypt to build a 10 gigawatts...
Business
Most Read
Economy
UAE president, Biden meet virtually to discuss energy transition
The two leaders highlighted the just announced comprehensive UAE-US initiative to accelerate the energy transition.
- The two leaders highlighted the just announced comprehensive UAE-US initiative to accelerate the energy transition
- UAE president briefed Biden on the UAE’s funding and assistance for clean energy projects on six continents
Business
ADNOC and Siemens Energy to develop low-carbon energy certificates
Abu Dhabi, UAE---Abu Dhabi National Oil Company (ADNOC) and Siemens Energy AG today announced plans to pilot blockchain technology to...
- The the pilot will show how much CO2 was used to make products such as Murban crude, ammonia, and aviation fuels.
- This information will be automatically recorded onto a decentralized blockchain ledger.
Business
Americana to sell 30% stake in IPO
The company will list on ADX and Saudi Tadawul by Dec. 6.
- The company said it will sell 2.5 billion of its existing shares in the IPO, which expected to run from 14-21 Nov. for retail investors in the UAE and Saudi.
- The final offering prices will be determined after the book-building process.