Dubai Investments acquires 7.68% more stake in Monument Bank
Dubai, UAE - Dubai Investments, the leading investment company listed on the Dubai Financial Market (DFM), acquired additional 7.68 percent...
Business
Business
Federation of Saudi Chambers calls for better Arab-Russia trade relations
Chairman of the Federation of Saudi Chambers (FSC) Ajlan Al-Ajlan has called for preparing a roadmap to enhance economic relations...
- Chairman of the Federation of Saudi Chambers Ajlan Al-Ajlan recommends establishment of joint companies and an e-platform to promote Russian and Arab products.
- Al-Ajlan also stressed the importance of overcoming financial and banking obstacles and stimulating Russian banks to open branches in Saudi Arabia.
Business
UAE resumes entry for travelers from 12 African countries
The countries comprise Kenya, Tanzania, Ethiopia, Nigeria, Republic of Congo, South Africa, Botswana, Eswatini, Lesotho, Mozambique, Namibia and Zimbabwe.
- The countries comprise Kenya, Tanzania, Ethiopia, Nigeria, Republic of Congo, South Africa, Botswana, Eswatini, Lesotho, Mozambique, Namibia and Zimbabwe
- In addition, the entry measures have been updated for travelers coming in from Uganda, Ghana and Rwanda from January 29
Business
Dubai to host international aid conference in March
The 18th annual Dubai International Humanitarian Aid and Development Conference and Exhibition - DIHAD 2022, will take place from 14th...
- The event will highlight the importance of strengthening partnerships and the need for global cooperation to tackle humanitarian issues
- DIHAD is the first-ever humanitarian aid and development event in the Gulf, supported by Mohammed bin Rashid Al Maktoum Global Initiatives
Geostrategy
Three-day ALESCO meet to discuss promotion of Arab integration
The Executive Council of the Arab League Educational, Cultural and Scientific Organization (ALECSO) are likely to discuss strategic directions to...
- The meeting will be held in the 116th session of ALECSO in AlUla, northwest of the Kingdom of Saudi Arabia.
- Director-General of ALECSO Mohamed Ould added that 20 agreements were signed in 2021 to support the ALECSO’s executive programs.
Business
Marriott Autograph Collection in Sharjah
Two of Shurooq projects will operate under Autograph brand.
- Khorfakkan Hotel will be developed to cater to the needs of families and adventurers..
- The other five-star development, Kalba Hotel, will be spread across a land area of approximately 60,000 sqm.
Geostrategy
UAE launches assessment of proliferation financing risks
The United Arab Emirates' Executive Office for AML/CFT and the Executive Office of the Committee for Goods and Materials Subject...
- The assessment was initiated in recent weeks and is expected to be completed by the end of 2022.
- The risk assessment will cover how financial resources may be used to develop nuclear, chemical, and biological weapons.
Economy
Dubai supports expansion of financial markets in UAE : Minister
Finance Minister of Dubai Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum affirmed that his government provided all support needed...
- Dubai Finance Minister Sheikh Maktoum bin Mohammed bin Rashid said Dubai Mercantile Exchange (DME) was able to gain the confidence of major oil producers.
- DME is located within the Dubai International Financial Centre (DIFC), a financial free zone designed to promote financial services.
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
Company News
QIB partners with Loop
Business
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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...
Videos
Qatar Digital Incubation Center fostering 25 new startups
The selection was made from among 42 competing startups which presented their projects in front of a specialized judging panel.
Business
UAE refunds tax incurred on building, operating mosques
The FTA will begin accepting applications for refunding input tax incurred on building mosques from Nov 1.
Economy
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Business
Savola Group posts 36% increase in profit
It recorded $173m profit in the first nine months of 2022.
- The food company said in a bourse filing that it had also posted a 20 percent revenue jump to $5.60 billion
- For the third quarter of 2022, net profit jumped 34 percent to $44 million, from $33 million in the same period last year
Geostrategy
Upcoming climate events to boost UAE-Egypt ties
The bilateral relations between the two countries are based on mutual respect and appreciation. The significant advancement in the bilateral...
- The upcoming events will witness further cooperation between the two countries, especially with Egypt hosting COP27 in Sharm El-Sheikh and the UAE hosting COP28 in 2023
- The UAE is the largest investor in Egypt, with over 1,250 Emirati firms operating in the country. Egypt, meanwhile, was among the first nations to recognize the formation of UAE
Business
QLM profits fall by 33 percent in first nine months of 2022
The company had reported a net profit of $12.27mn for H1.
- The gross written premium for the six-month period that ended on June 30, 2022 had increased by 33 percent to QR742mn.
- QLM Life & Medical Insurance Company was established in 2018, and was listed on Qatar Stock Exchange last year, with a capital of QR 350 million.Â