Bahrain suspends economic relations with Israel
DUBAI, UAE - Bahrain has recalled its Ambassador from Israel and decided to suspend economic relations with Tel Aviv in...
Geostrategy
Business
Way paved for launch of first Mideast Steigenberger Porsche Design Hotel
Saudi Arabia's Tourism Development Fund has signed an MoU with Deutsche Hospitality, the umbrella brand of the German hotel company...
- Saudi Arabia's Tourism Development Fund has signed an MoU with Deutsche Hospitality, the umbrella brand of the German hotel company Steigenberger Hotels AG.
- Tourism Development Fund provides support to small, medium, and large enterprises and solutions tailored to suit the needs of investors.
Business
Tibbiyah of Saudi Arabia to offer 5m shares through IPO
Tibbiyah of Saudi Arabia that also goes by the name of the Arabian International Healthcare Holding will offer 5 million...
- The company’s capital is divided into 20 million shares
- The offer price will be determined before the subscription period, which will begin on Tuesday February 15 and will end on Thursday February 17
Economy
UAE cabinet endorses labor and industrial laws
Chaired by Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai and Vice President, Prime Minister of the UAE, the...
- The Cabinet approved as well, a decision to establish the Executive Office for Control and Non-Proliferation
- The cabinet also approved the executive regulations of the Federal Law regarding the regulation and protection of industrial property rights
Business
Bahraini imports increase by 18 percent in Q4 2021
The value of Bahraini imports increased by 18 percent in the fourth quarter of 2021, reaching BD1.406 billion, the Information...
- The top 10 countries accounted for 71 percent of the value of imports, with the remaining countries accounting for 29 percent, Bahraini media reports said.
- The value of exports of national origin increased by 99 percent to BD1.192 billion during the fourth quarter of 2021.
Business
ADDED lays down strict rules on ‘hazardous materials’
ADDED has directed commercial and industrial facilities in the Emirate to license warehouses of hazardous materials away from their headquarters...
- ADDED has directed commercial and industrial facilities in the Emirate to license warehouses of hazardous materials away from their headquarters
- Special requirements, in line with criteria and stipulations of regulatory government entities were introduced
Business
Saudi energy minister says OPEC+ is independent
Prince Abdulaziz bin Salman, Saudi energy minister, has remarked that the OPEC+ group is independent and against any external interference...
- Prince Abdulaziz pointed out that the OPEC+ policy has succeeded in providing the oil market with the supplies it needs at all times
- Its decisions have come against a backdrop of pressure from countries such as the US, which want oil production drastically increased to tackle rising prices
Geostrategy
UAE and Brazil aim to boost strategic alliance
The UAE and Brazil have reiterated their resolve to boost bilateral relations in the light of the strategic partnership between...
- Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and Brazil's Minister of Foreign Affairs Carlos Franca reviewed the relations
- The two discussed the situation in the region in addition to issues of interest, including ways of supporting the international efforts to address the impact of COVID-19 pandemic
Arts & Culture
Sarandon, Ruffalo, García Bernal back Emma Watson’s Palestine solidarity post
Last week, Watson shared a post with the words ‘solidarity is a verb’ over an image that featured Palestinian flags.
- Last week, Watson shared a post with the words ‘solidarity is a verb’ over an image that featured Palestinian flags
- Widely praised, this message of solidarity also provoked the fury of Israeli officials
Economy
Jordan Dana Reserve featured on NY Times’ 2022 travel wish-list
The newspaper highlighted the Dana Reserve as a site worth visiting, which combines a deeply rooted history, unique environmental components...
- The newspaper highlighted the Dana Reserve as a site worth visiting, which combines a deeply rooted history, unique environmental components and breathtaking natural beauty
- The Dana Biosphere Reserve is the first national reserve to be listed on the United Nations Educational, Cultural and Scientific Organization's Man and the Biosphere Program
Business
Moody’s ranks QIIB ‘stable’
It has also has assigned the Qatari bank an A2 rating.
- Moody's said the rating reflects the bank’s position as one of Qatar's leading Islamic financial institutions
- It added that the financial institution has solid asset quality, profitability, liquidity, and capitalization
Bahrain suspends economic relations with Israel
DUBAI, UAE - Bahrain has recalled its Ambassador from Israel and decided to suspend economic relations with Tel Aviv in...
Geostrategy
Company News
Wio launches in UAE
Business
PIF to buy stake in Seera
Business
Latest News
CMA approves 18 listings on Tadawul
Tadawul is also developing a market marker for the bourse.
Business
Inditex sells Russian business to Middle Eastern Daher Group
Inditex closed its over 500 stores in Russia in March.
Business
Mashreq posts net profit of US$708m
The embrace of digital services by it customers drove growth.
Business
Most Read
Business
Al Seer Marine buys large crude carriers
The firm's total VLCC fleet value is now $245 million.
- VLCC Acrux (previously Elandra Everest) is the name of the third VLCC vessel Al Seer Marine has taken delivery of in October 2022.
- In addition to the three VLCCs, Al Seer Marine recently acquired two liquefied petroleum gas (LPG) tankers valued at US$70 million.
Economy
‘UAE government revenues rose by 26% in 2021’
ABU DHABI, UAE - In the UAE the revenues at the federal level increased by 26 percent from US$100 billion...
- Social contributions in the UAE also rose from US$3.5 billion (AED12.9 billion) in 2020 to $3.6 billion (AED13.5 billion) in 2021.
- The value of other revenues increased by 24 percent from $55.4 billion in 2020 to $68.5 billion in 2021.
Business
ADIB posts $272m net profit
The year-on-year growth in net profit was 53% for the first nine months of 2022.
- Revenue for the first nine months of 2022 improved 10 percent to AED4,516 million compared to AED4,093 million last year.
- This was driven by a 22 percent increase in fees and commissions and a 10 percent growth in funded income to AED2,802 million.