Agthia okays H1’23 interim dividend
The interim dividend reflects the firm’s robust balance sheet.
Business
Dubai real estate sales up despite price rise since January 2020
Dubai, UAE – The Dubai Land Department (DLD) reported over 3,200 transactions worth AED 24.7 billion last week and this...
Business
Business
AD Ports Group and Turkiye Varlik Fonu sign partnership agreement
AD Ports Group and Turkey’s Turkiye Varlik Fonu signed a strategic partnership agreement to collaborate on major investment opportunities for...
- The partners will collaborate on major investment opportunities for port development and operations.
- The two organizations will also collaborate in establishing a joint steering committee to assess all investment opportunities.
Geostrategy
UNESCO declares Dec 2, UAE’s National Day, as World Futures Day
UNESCO's choice of December 2, the National Day of the UAE, as World Futures Day, is a sign of appreciation...
- The international recognition of the UAE as a country for the future places responsibility 'on us' to develop capabilities, says UAE Prime Minister.
- The decision reflects UAE's global position as a model for development based on building and forging the future, says UAE minister.
Business
ADNEC to acquire Etihad Holidays
The move is aimed at expanding its footprint in tourism.
- Tourism 365, the ADNEC tourism promotion business, will integrate with Etihad Holidays under the terms of the asset transfer.
- Etihad Holidays' offering will combine Etihad Airways’ product with packages in different source markets to key destinations.
Business
Iraqi crude oil export revenues $7 billion in October, says oil ministry
Iraq's crude oil export revenues reached $7 billion in October, according to the Iraqi Oil Marketing Company (Somo). Local media...
- Iraqi oil ministry's said more than 96 million barrels of crude oil were exported in October.
- Most of the oil--93 million barrels--was exported from the oil fields in central and southern.
Geostrategy
Russia-Islamic world cooperation meeting in Jeddah
Joint cooperation in dealing with regional and international issues was discussed at the meeting in Jeddah.
- Saudi king Salman said there are opportunities to form strong economic partnerships between Russia and the Islamic world
- Russian President Vladimir Putin conveyed that his country stresses on developing friendly ties with Islamic nations
Economy
Qatar approves draft social security and military retirement laws
Qatari cabinet has approved draft social security and military retirement laws aimed at establishing "an effective social protection system for...
- The draft laws call for expanding the scope of insurance coverage to include all citizens working in the public and private sectors.
- The draft laws recommend that the minimum pension shall not be less than QR15,000 ($4,119).
Business
Dubai October realty sales $3.57 billion, highest in eight years
Expo 2020 Dubai, the largest global event and the first-of-its-kind in the Middle East, boosted the Dubai real estate market...
- Real estate sales transactions for the 10 months of 2021 worth AED177.44 billion.
- The most sought after areas for villas/townhouses are Damac Hills 2, Nad Al Sheba, The Springs, Dubai Hills Estate and Arabian Ranches.
Economy
Global oil reserves release ‘a drop in the ocean’: Goldman Sachs
"On our pricing model, such a release would be worth less than $2/bbl, significantly less than the $8/bbl sell-off that...
- "On our pricing model, such a release would be worth less than $2/bbl, significantly less than the $8/bbl sell-off that occurred since late October," the bank said in a note
- US West Texas Intermediate crude was down 35 cents to $78.15 a barrel by 0031 GMT on Wednesday
Geostrategy
Qatar fund, FAO join hands for climate action in Somalia
The fund will collaborate with the UN agency to build climate-resilience and take shock-informed anticipatory action.
- Somalia is said to be highly vulnerable to recurrent shocks, with colliding and cumulative effects
- It has been recurrently affected by droughts, flash and riverine flooding, cyclones, locusts, disease outbreaks, and conflict
Economy
Doha workshop promotes Qatarization policy in private sector
The Ministry of Labor stressed the importance of securing the work environment for the Qatari employee.
- The Ministry of Labor stressed the importance of securing the work environment for the Qatari employee
- The ministry would ensure Qatari employees’ rights are protected and that they are not subjected to abuse by their employer
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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
Agthia okays H1’23 interim dividend
The interim dividend reflects the firm’s robust balance sheet.
Business
Company News
GIS, DIH mull merger
Business
Latest News
Dubai Industrial City unveils plant to manufacture electric cars
The ceremony was attended by Dr. Majida Al Azazi, Chairman of the Board of Directors of M Glory Holding Group,...
Business
Alpha Pharma signs MoU for plasma
It becomes first Saudi firm to enter plasma products' field in GCC region.
Business
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Geostrategy
Jordan king discusses trade, regional issues in talks with Oman sultan
The two leaders focused on maintaining coordination and consultation on various issues of mutual concern, especially food security and energy.
- The two leaders focused on maintaining coordination and consultation on various issues of mutual concern, especially food security and energy
- King Abdullah expressed appreciation for Oman’s position and continuous efforts to bolster security and stability in the region
Business
SEIC strikes US$150m deal
The PIF-backed firm buys 34% stake in an Egyptian firm.
- SEIC’s acquisition was made via the purchase of a minority stake from African Development Partners II, a fund advised by Development Partners International
- B.TECH is 34 percent owned by DPI, while the remaining 66 percent belongs to BT Holding which is owned by the Khattab family that founded the company
Economy
DMCC, Fresh Water Norway partner to expand water supply chain
The collaboration could see a staggering one billion litres of natural drinking water flow through Dubai every year, over a...
- The collaboration could see a staggering one billion litres of natural drinking water flow through Dubai every year, over a period of 50 years
- Fresh Water Norway will be able to avail of DMCC’s services, global connections and network across supply chains and its ability to drive trade flows through Dubai