SFD to provide US$20m loan to Central African Republic for development projects
MARRAKESH, MOROCCO - The CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, signed an additional US$20...
Business
IMF forecasts UAE GDP growth of 3.4% in 2023
MARRAKESH, MOROCCO - The International Monetary Fund (IMF) has forecast that the UAE's real Gross Domestic Product (GDP) will grow by...
Economy
Business
Etihad and ITA Airways sign pact
Codesharing agreement to boost travel and tourism between Italy and UAE.
- The agreement will also offer travelers more options and better connectivity when traveling through Rome Fiumicino, Milan Malpensa and Abu Dhabi.
- The partners are also working together to expand the scope of their cooperation over the coming months.
Geostrategy
As thaw sets in, Qatar and Saudi Arabia review ties
Qatar's emir Sheikh Tamim bin Hamad Al-Thani and visiting Saudi Crown Prince Mohammed bin Salman discuss ways to support and...
- This is Saudi Crown Prince's first visit to Qatar after relations were fully restored in January following a landmark summit in the Saudi desert city of Al-Ula.
- Saudi Arabia, the UAE and Bahrain cut all links with Qatar in June 2017, alleging it backed radical groups and was too close to Tehran -- allegations Doha denied.
Business
Mubadala invests in US-based Medallia
Medallia captures experience data from customers and employees.
- Medallia was founded in 2001 and is a provider of experience management software to customers.
- Mubadala was founded on 19 January 2017 and Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan is its Chairman.
Business
Dubai Financial Market announces new trading hours from 3 Jan 2022
Dubai Financial Market (DFM) has announced new trading hours from 3 January 2022. The new trading session of five hours...
- The new trading session of five hours will be between 10 AM and 3 PM from Monday to Friday.
- The new trading hours have been set in coordination with local and international market participants, DFM said.
Economy
Dubai’s carbon emissions have fallen by 22 percent in 2019
Dubai's carbon emissions have fallen by 22 percent in 2019, reflecting the efforts made by its strategic partners to support...
- Dubai Supreme Council of Energy discusses a resolution to achieve carbon neutrality by 2050.
- The meeting also discussed the implementation of a resolution to regulate district cooling services in Dubai.
Business
Ras Al Khaimah moves to regulate transporting passengers by luxury vehicles, limousines
Ras Al Khaimah has regulated the activity of transporting passengers by luxury vehicles and limousines in the emirate. Sheikh Saud...
- Ruler of Ras Al Khaimah Sheikh Saud bin Saqr Al Qasimi approved Resolution no.3 of 2021 which paved the way for this regulation.
- The move mandates Ras Al Khaimah Transport Authority to organise the activity of transporting passengers by luxury vehicles and limousines in the emirate
Geostrategy
UAE tops Bloomberg’s monthly Covid Resilience Ranking for Nov 2021
UAE has risen to the top spot on Bloomberg's Covid Resilience Ranking, dethroning Europe that has been dominating the top...
- A Bloomberg report said UAE one of the only seven countries that never fell into the bottom half of the Ranking.
- Iraq jumps 21 spots after community mobility surged and domestic life normalized.
Economy
Three laws introduced in UAE after the biggest-ever amendments
The UAE has introduced three new economic laws, with the government saying these laws underwent the largest legislative amendments of...
- The laws are the Commercial Companies Law, Commercial Registry Law and the Trademarks Law.
- Commercial Companies Law abolishes the maximum and minimum percentage of the founders’ contribution to the company’s capital at the time of the public offering
Business
China offers Kuwait help in developing its ports to boost maritime trade
China is willing to assist Kuwait to develop its ports given the significance of such facilities in the ##international maritime...
- Chinese port official stresses the significance of port facilities in international maritime trade.
- Kuwait's imports from China were worth $4.94 billion during 2020, according to the UN database on international trade.
Geostrategy
UAE signs air transport MoU with Colombia
The UAE’s General Civil Aviation Authority represented the country in the signing of the deal.
- This MoU is expected to enhance the air connectivity between the two countries
- It will let the national carriers of both countries initiate the operation of scheduled passenger and all-cargo flights
SFD to provide US$20m loan to Central African Republic for development projects
MARRAKESH, MOROCCO - The CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, signed an additional US$20...
Business
Company News
NBK Bahrain H1 net profit $145m
Business
Latest News
Dubai to host international museums conference in 2025
Arts & Culture
QatarEnergy becomes 100 percent owner of Siraj Energy joint venture
QatarEnergy bought 49 percent of Qatar Electricity and Water Company’s share in Siraj Energy.
Business
Dubai records real estate deals worth $571 million on Thursday
Dubai, UAE---Dubai real estate market recorded realty transactions worth AED2.1 billion ($571 million) on Thursday, Dubai Land Department said. The...
Business
Lulu Group to list on Abu Dhabi Exchange in 2023
V Nandakumar stressed that the group’s listing is a major opportunity to contribute to the sustainable growth of the Emirati...
Business
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Business
Oman & Emirates Co. Q3 net profit $5.6m
The profit for the same period in 2021 was 538,832 OR.
- Oman & Emirates Investment Holding Company was established through the Royal Decree in 1993, as an joint venture between Oman and UAE.
- Â O&E is registered as an Omani Joint Stock Company traded in Muscat, Abu Dhabi and Dubai Securities Markets.
Business
ADNOC awards $980m contract
The contract awarded to ADNOC Drilling to hire offshore rigs.
- ADNOC Drilling is the largest national drilling company in the Middle East by rig fleet size.
- Over 80 percent of the award value will flow back into the UAE’s economy under ADNOC’s In-Country Value (ICV) programme.
Business
Burjeel Holdings set to expand to Oman, Saudi Arabia
The company is raising capital to support the ongoing expansion in the UAE and Oman, and pending entry into Saudi...
- The company is raising capital to support the ongoing expansion in the UAE and Oman, and pending entry into Saudi Arabia, the founder Dr Parambath said
- In the UAE Burjeel has built the cancer centre, the mother care services, as well as the orthopaedic and diagnostic networks