Saudi delegation takes part in Riyadh Expo 2030 symposium in Paris
PARIS, FRANCE - A high-level Saudi delegation attended the Riyadh Expo 2030 Symposium, on the outskirts here, hosted by the...
Business
Business
Abu Dhabi non-oil trade in 11 months of 2021 totals $51.78 billion
The non-oil trade through Abu Dhabi ports during 11 months in 2021 amounted to AED190.20 billion ($51.78 bn), an increase...
- Imports accounted for AED83.63 billion of the non-oil trade and non-oil exports for AED71.17 billion, an increase of 5.4 percent compared to the same period last year.
- The re-exports were valued at nearly AED35.39 billion, an increase of 10 percent compared to 2020.
Business
Etisalat Group buys out elGrocer DMCC
Emirates Telecommunications Group Company PJSC (Etisalat Group) has completed the acquisition of elGrocer DMCC, the company said it a statement.
- Founded in 2015, elGrocer is a leading online marketplace for groceries operating in all seven Emirates of the UAE
- The acquisition of elGrocer will complement Etisalat UAE’s existing marketplace services under the ‘Smiles’ brand
Business
Season 8 of ABB FIA Championship set to kick off in Riyadh
Season 8 of the ABB FIA Formula E World Championship is set to launch in Saudi Arabia, and some of...
- Run under lights at the UNESCO World Heritage Site outside Riyadh, the races will be held in the Kingdom for the fourth time
- The eight season of the ABB FIA Formula E World Championship begins with a double-header in Diriyah, with a new qualifying format, along with the ever-popular Fan Boost
Geostrategy
IATA urges governments to accelerate lifting of travel restrictions
The International Air Transport Association (IATA) urges urged governments to accelerate the relaxation of travel restrictions, saying evidence suggests a...
- IATA cites a study that says there is minimal impact of travel restrictions on controlling the spread of Omicron.
- The billions spent testing travelers would be far more effective if allocated to vaccine distribution or strengthening healthcare systems, says IATA director.
Business
Tunisia allows digital sector firms to bid in convertible foreign currencies
The Central Bank of Tunisia (BCT) has authorized companies operating in the digital sector to bid for public tenders in...
- Bidding allowed for tenders for imported hardware and software in 2022.
- The authorization from the Central Bank of Tunisia came after a 'positive opinion' from the Ministry of Finance.
Economy
Dubai Metro cuts emissions by 2.6m tons, yields $31bn in benefits
Dubai Metro has eliminated about 1 billion private-vehicle journeys, yielded monetary benefits worth AED115 billion and reduced carbon dioxide emissions...
- The Metro has eliminated about 1 billion private-vehicle journeys, said Mattar Mohammed Al Tayer, Chairman of the Board of Executive Directors of the Roads and Transport Authority.
- Al Tayer said the metro network, which spans 74 km, had been completed in just four years. The total length of the rail network is about 101 km.
Geostrategy
Italy, UAE discuss the digital revolution in healthcare sector
With a medical devices industry turnover of Euro 17 billion, 4,400 companies and nearly 94,000 professionals, Italy is at the...
- With a medical devices industry turnover of Euro 17 billion, 4,400 companies and nearly 94,000 professionals, Italy is at the forefront of telemedicine
- The Innovation Talks are a platform to foster the dialogue between Italy and UAE initiated by the Embassy of Italy to the UAE last year
Economy
Fitch downgrades Kuwait to “AA-“, with stable outlook
The downgrade reflects ongoing political constraints on decision-making that hinder addressing structural challenges related to heavy oil dependence.
- The downgrade reflects ongoing political constraints on decision-making that hinder addressing structural challenges related to heavy oil dependence
- There has been a lack of meaningful underlying fiscal adjustment to recent oil-price shocks and the outlook for reforms remains weak
Business
Emirates signs new distribution agreement with Amadeus
From 1st February 2022, all trade partners on Amadeus will be able to access Emirates’ content free of surcharge.
- From 1st February 2022, all trade partners on Amadeus will be able to access Emirates’ content free of surcharge
- The new agreement will also see Emirates’ new distribution capability content integrated into the Amadeus Travel Platform
Business
LVMH sees record sales, profit despite pandemic
The world's leading luxury group more than recovered from the coronavirus pandemic as it earns a record €64.2 billion ($71.5bn)...
- One reason for the luxury group's out-performance was improved profitability
- Its operating margin rose to 26.7 percent, up from 21.4 percent in 2019
Saudi delegation takes part in Riyadh Expo 2030 symposium in Paris
PARIS, FRANCE - A high-level Saudi delegation attended the Riyadh Expo 2030 Symposium, on the outskirts here, hosted by the...
Business
Company News
Al Sagr, Gulf Union may merge
Business
Latest News
ADNOC sets Upstream Methane Intensity target of 0.15 percent by 2025
Abu Dhabi, UAE--- Abu Dhabi National Oil Company (ADNOC) announced on Monday that it has set a new Upstream Methane...
Business
Saudi Arabia’s GDP grows by 8.6 percent in third quarter of 2022
As per estimates by the General Authority for Statistics (GASTAT), real Gross Domestic Product (GDP) of Saudi Arabia grew by...
Economy
Empower IPO priced AED1.31-1.33 per share
The total offering size expected between $357m and $362m.
Business
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Business
Taaleem to raise US$204.21 million in IPO
Dubai school operator plans to expand its network.
- Taaleem will offer 10% of its shares to retail investors starting Nov 10, and 88% of its shares to professional investors on Nov. 17
- The company said another 2% will be offered to Eligible Employees and Eligible Parents
Business
Qatar and Azerbaijan to enhance trade, energy relations
Doha, Qatar— Qatar and Azerbaijan have decided to enhance relations in the fields of energy and trade and in this...
- Minister of Economy of Azerbaijan, Mikayil Jabbarov, lauded the relations both countries enjoy, noting that Azerbaijan is eager to further develop its relations with Qatar
- The Qatar-Azerbaijan Joint Business Council aims to assist in setting up direct partnership links between business entities of both countries
Videos
New industrial policy seeks to diversify Saudi economy
The program, launched by Saudi Crown Prince and Prime Minister Mohammed bin Salman, has identified more than 800 investment opportunities...
- The new industrial strategy envisages tripling the country’s industrial domestic product and doubling the value of industrial exports to $148.2 billion.
- The Crown Prince said the program will make the kingdom a leading industrial power that “contributes to securing global supply chains and exporting high-tech products to the world”