Qatar’s business conditions continue to improve in October
DOHA, QATAR – Qatar's non-energy private sector continued to experience improving business conditions at the start of the final quarter of...
Business
Dubai Customs thwarts smuggling at airport, seize drugs
DUBAI, UAE –The Dubai Customs apprehended a traveler arriving from a European country who was trying to smuggle various small...
Geostrategy
Geostrategy
Two day long Water-Food-Energy Summit concludes in Dubai
In order to explore solutions for water, food, and energy challenges, the UAE, Jordan, and the Netherlands wrapped up the...
- The UAE, Jordan, and the Netherlands issued a trilateral declaration affirming their commitment to supporting a nexus approach that optimizes resource use
- The joint statement encouraged governments to incorporate practical solutions to water, food, and energy challenges into policy-making
Business
Dubai issues 72,152 new business licenses in 2021, 59 percent professional
Dubai issued 72,152 new business licenses in 2021, a growth of 69 percent compared to 2020 when 42,729 licenses were...
- Bur Dubai accounted for the largest share (48,562) of new licences issued followed by Deira (23,513).
- A total of 430,921 business registration and licensing transactions were completed in 2021, a growth of 24 percent compared to 2020.
Business
Dubai Airport Show 2022 to showcase digital innovation
Dubai Airport Show 2022, to be held in May, will showcase a diverse range of innovative products and will provide...
- The latest IATA Global Passenger Survey, conducted across 153 countries, revealed passengers expect technology to give them more "personal control over their travel experience"
- Digital queuing and biometric has been viewed as a priority to be implemented to modernize every component of the journey at airports
Business
Aramco signs 10 Korea deals
The signings took place at the Saudi-Korean Investment Forum.
- The deals aim to advance Aramco’s downstream strategy and support the development of low-carbon energy solutions
- They are also expected to create new financing options for the world’s largest oil and gas company
Business
OPEC Fund extends $35m loan to support Vietnam SMEs
The amount will reportedly be given to the Vietnam-based Southeast Asia Commercial Joint Stock Bank (SeABank) for on-lending.
- The money will be used to facilitate access to finance for SMEs and women-owned businesses in Vietnam
- It will also be used to promote climate funding for a sustainable economic recovery in the country
Geostrategy
UAE demands UNSC meeting after Houthi attacks
Several countries — ranging from regional ones like Qatar, Bahrain, Kuwait, Iraq, and Egypt, to Russia and the US —...
- The UAE has called on the UNSC to unequivocally condemn the Houthi attacks with one voice
- UN Secretary-General Antonio Guterres has already condemned the attack, besides calling for restraint
Business
Ferrari World and Warner Bros. break Guinness Records titles
Ferrari World Abu Dhabi and Warner Bros. World Abu Dhabi broke two Guinness World Records titles in celebration of the...
- Warner Bros. World Abu Dhabi broke the record title with 20,482 contributions during the festive season
- The Park broke the record title with 4,826 contributions breaking the previous world record of 2,462
Geostrategy
Winners of 2022 Zayed Sustainability Prize honored for community services
The 2022 Zayed Sustainability Prize has been awarded to 10 winners who have contributed towards achieving sustainable development in their...
- The award ceremony coincided with the start of the 2022 Abu Dhabi Sustainability Week (ADSW).
- Through its 86 former winners, the Prize has transformed the lives of more than 370 million people, across 150 countries, since 2008.
Business
Europe showcases work on circular economy at Expo 2020
An event at the Expo 2020 Dubai showcased Europe's work for the transition to the circular economy and how it...
- The event showed Europe's willingness to foster international cooperation especially in a time of post-pandemic awareness and recovery
- The function opened with a welcome speech by Executive Vice President Frans Timmermans and will close with a message from Environment Commissioner
Business
Masdar joins consortium to build solar power facilities in Indonesia
Masdar will be joining a consortium that will develop solar photovoltaic facilities with a capacity of about 1.2 gigawatts and...
- The renewable energy company signs MoU with Singapore’s Tuas Power, France’s EDF Renewables and PT Indonesia Power.
- Singapore is looking to import as much as 4 gigawatts of low-carbon electricity by 2035, which would constitute 35 percent of its total supply.
Qatar’s business conditions continue to improve in October
DOHA, QATAR – Qatar's non-energy private sector continued to experience improving business conditions at the start of the final quarter of...
Business
Company News
Latest News
Borouge Q3 profit $308m, paid $325m dividend in October
The company reported a 13.5% increase in revenue to $5.13 billion for 9M.
Business
Ma’aden among top 3 buyers of carbon credits
Saudi Arabian Mining Company (Ma’aden) is one of the largest purchasers of carbon credits from the first MENA Voluntary Carbon...
Business
PIF to deploy spending to develop innovative sectors in kingdom
Riyadh, Saudi Arabia--Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has launched a program that will leverage its...
Economy
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Economy
Egyptian pound plummets after 2% interest rate hike
The CBE attributed its decision to elevated global and domestic prices that are expected to keep headline inflation.
- The CBE attributed its decision to elevated global and domestic prices that are expected to keep headline inflation
- The decision aims to uphold the CBE’s mandate of ensuring price stability in the local market over the medium term
Business
Emerging sectors are creating thousands of new jobs in the Kingdom, says Saudi Economy Minister
Saudi Arabia is focused on offering solutions that make global trade more predictable and reliable, says Faisal bin Fadhil Alibrahim...
- Saudi Arabia is focused on offering solutions that make global trade more predictable and reliable, says Faisal bin Fadhil Alibrahim at an event in Riyadh.
- The Future Investment Initiative, held under the theme "Investing in Humanity: Enabling a New Global Order", concluded in Riyadh late Thursday
Business
Emirates NBD profit rises 25 percent to $2.47 bn for Jan-Sept period
Q3 profit was AED3.8 bn, up 51 percent year-on-year, exceeding the $1bn mark.
- A record quarter for retail lending and customer transactions, together with improving margins, drove income 31 percent higher YoY to AED22.7 billion.
- New corporate lending grew by AED24 billion in the first nine months of 2022 and impairment was down 12 percent.