How Pakistan is becoming a top tech hub in the GCC
Pakistan's IT sector is thriving, with growing exports and recognition as a tech hub, driven by government support, skilled talent,...
Economy
Dubai welcomes record 9.31m international overnight visitors in H1
Dubai, UAE -- Dubai welcomed 9.31 million international overnight visitors from January to June 2024, a 9 percent increase over...
Business
Economy
UAE exports to reach $544bn by 2030, says Standard Chartered report
DUBAI, UAE - The UAE is poised to play a pivotal role in global trade with its exports projected to...
- The report forecasts the global trade industry to reach US$32 trillion by 2030, with a projected growth rate of five percent.
- The report said that corridors anchored in Asia, Africa, and the Middle East are expected to outpace the global trade growth rate.
Economy
Saudi merchandize exports down 14.6% in Q1 as oil exports fall
Riyadh, Saudi Arabia -- Saudi Arabia's merchandize exports decreased by 14.6 percent in Q1 2023, compared to Q1 2022, a...
- The value of exports amounted to SAR 313.5 billion ($83.6bn) in Q1 2023, down from SAR 367.1 billion ($97.86bn) in Q1 2022.
- The decrease originated mainly from oil exports, which fell by SAR 43.1 billion ($11.47bn) or 14.9 percent in the same period.
Business
DIFC forum to focus on optimizing treasury operations
Dubai, UAE - Standard Chartered will partner with the Dubai International Financial Centre (DIFC) in hosting the DIFC Treasury Leadership...
- The DIFC Treasury Leadership Forum will showcase the latest trends in treasury solutions designed to streamline financial operations.
- Organized by DIFC, the forum will bring together senior treasurers from leading banks, multinationals and services providers.
Business
UAE energy ministry announces Global EV Market transformational project
DUBAI, UAE - UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei on Tuesday announced the launch of...
- Under the agreements, the partners will cooperate to create incentives for people to own EVs, facilitate investment in the UAE network of electric vehicles.
- The Global EV Market is in line with the objective of the We The UAE 2031 vision of enhancing the position of the Emirates as a global partner.
Business
DFM launches futures contract on General Index
Dubai, UAE - The Dubai Financial Market (DFM) on Monday announced the offering of futures contracts on its General Index...
- Trading futures contracts on the DFMGI offers investors the opportunity to access DFM’s largest and most liquid stocks.
- DFMGI will provide strong diversification and hedging opportunities for both retail and institutional investors.
Business
Sharjah group to discuss trade boost with India in five-day trip
SHARJAH, UAE- The Sharjah Chamber of Commerce and Industry (SCCI) will embark on a trade mission to India on Monday...
- The delegation will visit Mumbai and New Delhi, setting up business forums and arranging meetings with Indian business communities.
- The delegation will highlight the benefits and opportunities of investing in Sharjah, detailing the incentives and facilities available.
Business
RAKEZ highlights Ras Al Khaimah’s potential to Chinese business owners
RAS AL KHAIMAH, UAE - A top-level delegation from Ras Al Khaimah Economic Zone (RAKEZ) recently concluded its trip to...
- The RAKEZ delegation interacted with prominent Chinese business owners from a range of sectors.
- The team traveled through Shanghai, Suzhou, Qingdao, Tianjin, Guangzhou, Foshan, and Zhuhai.
Business
PIF sets up firm Badael to curb tobacco use in Saudi Arabia
RIYADH, SAUDI ARABIA- The Public Investment Fund (PIF) announced the establishment of Badael Company, which aims to develop, manufacture and...
- Badael aims to address the negative impact that smoking has on the well-being of the Saudi population.
- The company’s products are expected to help nearly one million people give up smoking by 2032.
Business
Ajman hotels posts 3% increase in revenues in Q1 2023
AJMAN, UAE - Ajman hotels and serviced apartments recorded a three percent growth in hotel revenues in the first quarter...
- Ajman tourism is looking for new ways to collaborate with local and international partners to advance the tourism sector by attracting new investments.
- The emirate of Ajman hosts 44 hotel establishments ranging from 1-star to 5-star hotels, resorts and luxury hotel apartments with 3,997 hotel rooms.
Business
Brazilian group seeks trade, investment boost with UAE
Sharjah, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) organized the UAE-Sao Paulo Business Forum on Thursday, marking...
- During the forum, the two sides discussed joint efforts and investment opportunities available in both cities.
- The delegation comprised representatives from companies operating in agriculture, food, cosmetics, and furnishings sectors.
How Pakistan is becoming a top tech hub in the GCC
Pakistan's IT sector is thriving, with growing exports and recognition as a tech hub, driven by government support, skilled talent,...
Economy
Company News
Latest News
IsDB, SWCC sign agreement
Business
Vodafone Qatar 2023 profit up
The 2023 net profit of Vodafone Qatar increased to $148 million.
Business
UAE plans to issue bonds, Sukuk valued at $1.3bn in Q1 2024, says official
HONG KONG - UAE Ministry of Finance Undersecretary Younis Haji Al Khoori announced that the ministry's issuance of bonds and...
Business
Dubai wins right to host 349 business event in 2023
DUBAI, UAE - Dubai consolidated its status as a central hub for international business events in 2023, with the city...
Business
Most Read
Business
Alef Group announces US$84m sales transaction at ACRES 2024
SHARJAH, UAE - Alef Group concluded its participation in the ACRES Real Estate Exhibition 2024 with resounding success, generating significant...
- ACRES Exhibition is a unique global Arab platform which brings together major investors and businessmen.
- This is evident in the success achieved by the ACRES over its successive sessions since its launch in 2008.
Business
Saudi GACA issues air carrier, airport classifications for December 2023
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) issued its monthly classification index for air transport service...
- Flynas had the fewest complaints among airlines, 42 per 100,000 travelers and a complaint resolution rate of 100 percent.
- SAUDIA Airlines came second, with 61 complaints per 100,000 travelers and a resolution rate of 99 percent.
Business
Dubai posts real estate transactions worth $3.5bn in week ending January 19
DUBAI, UAE - The real estate and properties transactions valued at US$3.5 billion (AED13 billion) in total during the week...
- The sum of transactions was 3,697 and 184 plots were sold for US$547 million.
- 2,770 apartments and villas were sold for US$2 billion (AED 7.46 billion).