Business
Dubai Islamic Bank profit rises
Its net profits increased by 39 percent in 2021 to AED 4.4 billion.
- DIB is the largest Islamic bank in the UAE and the second-largest Islamic bank in the world.
- The bank said it proposed to pay a dividend of 25 percent to shareholders subject to the approval of the AGM.
Business
ADNOC is UAE’s most valuable brand for 4th year
ADNOC maintained in 2022 its position as the UAE's most valuable brand for the fourth consecutive year, according to a...
- ADNOC's US$12.76 billion (AED47 billion) brand value witnessed a 19 percent increase over the previous year
- ADNOC ranked the first valuable brand in the UAE, the second in the Middle East and North Africa
Business
Arabian Healthcare and CommonSpirit to boost alliance
Ras Al Khaimah is taking steps to further enhance its growing healthcare sector through the continuation of an alliance between...
- The critical areas of collaboration with CommonSpirit will include digital innovation, training and education, clinical alignment, care coordination
- Among the care centers widely recognized with clinical expertise in DHI’s US network are the Barrow Neurological Institute in Phoenix, Arizona
Business
Jordan, Tunisia discuss economic cooperation
The discussion happened at the first session of the Jordanian-Tunisian Joint Trade Committee.
- The meeting was attended by Secretary-General of Jordan’s Ministry of Industry, Trade and Supply Dana Al-Zoubi
- Head of the Cabinet of Minister of Trade and Export Development in the Tunisian Ministry of Trade, Khaled bin Abdullah, also attended
Business
Paramount picks new group CEO
Steve Griessel, the new CEO of the Paramount Group will be providing strategic, financial and operational leadership to the company...
- South Africa born Griessel has served several companies as CEO in South Africa and the US
- Griessel has business leadership and senior management experience of more than 30 years
Business
Masdar, W Solar Investment partner to develop renewable energy projects
Masdar, one of the world’s leading renewable energy companies, and W Solar Investment, a subsidiary of Alpha Dhabi Holding, and...
- The new company, MW Energy Limited, will act as a development platform, focusing initially on a pre-identified pipeline of projects
- The JVC will focus initially on the development of pre-identified projects, primarily in Africa and in the Commonwealth of Independent States (CIS) region
Economy
Jordan ranks 5th among Arab countries on Corruption Perceptions Index
The report shows that Jordan has progressed by several indicators, and maintained its rank in some other indicators in 2021.
- The report shows that Jordan has progressed by several indicators, and maintained its rank in some other indicators in 2021
- Transparency International found countries that violate civil liberties consistently score lower on the CPI
Geostrategy
Saudi Arabia, Romania sign wide-ranging defense agreement
Saudi Arabia and Romania signed on Tuesday a defense cooperation agreement that covers training, exchange of expertise, technologies, developing communications...
- The pact includes training, exchange of expertise, technologies and developing communications systems.
- The agreement is in line with the two sides’ commitment to promote and encourage international peace, media reports said.
Economy
Saudi merchandise exports shot up 82.5 percent
According to a report by General Authority for Statistics (GASTAT), the overall merchandise exports of Saudi Arabia increased by 82.5%...
- The value of exports amounted to SAR 107.3 billion ($28.61 billion) in November 2021, up from SAR 58.8 billion ($15.68 billion) in November 2020
- This increase originated mainly from oil exports, which rose by SAR 43.1 billion ($11.49 billion) or 112.8% in the same period
Economy
American companies willing to invest in Tunisia: Ambassador Blome
A number of US companies are willing to invest in basic infrastructure and logistics to support Tunisia's efforts in this...
- Tunisian Transport Minister Rabii Majidi expressed the will to further strengthen cooperation with the United States.
- Both parties exchanged views on the draft bilateral agreement in the field of air transport. The US ambassador urged stepping up talks to materialize this agreement.
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
Walaa to merge with SABB
Business
Latest News
Alpha Dhabi posts US$2.45bn net profit
It recorded a150% rise in profit in first nine months of 2022.
Business
Masdar to partake in Saudi renewable energy market
Masdar will also participate with partners in the upcoming Round 4 tender announced by the Saudi Power Procurement Co.
Business
UAE makes amendments to value added tax rules
Abu Dhabi, UAE— The UAE Ministry of Finance announced amendments to some provisions of the Federal Decree-Law No. 8 of...
Economy
Most Read
Business
DFSA signs agreement with Bangladesh SEC
DUBAI, UAE - The Dubai Financial Services Authority (DFSA) has signed a Memorandum of Understanding (MoU) with the Bangladesh Securities...
- The MoU was signed by Chief Executive of the DFSA Ian Johnston and Chairman of the BSEC Professor Shibli Rubayat Ul Islam Friday in Dubai.
- The agreement provides a framework for facilitating cross-border collaboration between the two bodies on supervision and enforcement actions.
Videos
GCC’s two biggest trade allies are Asians
As the US is apparently pulling away from the Middle East, the cooperation between the Gulf and Asian regions is...
- Experts believe the US is pulling back from the Middle East and shifting its attention and resources to the "priority theatre" of the Indo-Pacific.
- But as the world recovers from the Covid-19 pandemic, the GCC countries are expected to play a more significant role in the ongoing Asianization of the global economy.
Business
QGIRCO posts Q3 net profit of US$1.1m
Firm's Q3, 2022 profit fell compared to Q3 in 2021.
- The company's data indicated that the earnings per share amounted to $.01 in the third quarter of this year,
- The company's earnings per share was $.02 for the same period last year.