INSEAD Day 4 - 728x90

flynas to set up new hub

Five destinations in first phase of operations.

AD Ports Group acquires CLI

CLI is Brazilian agri-bulk terminal operator.

$1.59bn Makkah project awarded

A consortium will develop two districts in the Holy City.

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

Saudi Arabia’s first social network Jaco attracts 1m users in 2 months

RIYADH, SAUDI ARABIA:   The supervisor of the Kingdom's first social network Jaco - Saudi entrepreneur Fahd Al-Shidi announced that the...

Business

UAE looks to deepening trade relations with ASEAN bloc

Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, led the UAE delegation to Jakarta, Indonesia, the...

Business
Business

AIQ and Baker Hughes to develop solutions for oil industry

AIQ  and Baker Hughes have entered into an agreement to develop advanced analytics solutions for the global oil and gas...
  • The initial project work will focus on developing AI solutions, analyzing drilling data and identifying opportunities for improved drilling trajectories
  • The project supports ADNOC’s plans to efficiently ramp up drilling activities as it boosts its crude production capacity to 5 million barrels per day by 2030
Business

Etisalat to acquire elGrocer DMCC

The acquisition will support the telecom giant's digital ambitions.
  • This partnership will empower consumers, enhance engagement, and drive diversification of our business, said Etisalat.
  • UAE is rated as one of the most advanced countries for online shopping and eCommerce market in the MENA region.
Geostrategy

Qatar and Egypt sign pacts to supply Gaza fuel and building materials: Minister

Qatar and Egypt have signed agreements to supply fuel and basic building materials for Gaza Strip, Qatar's Minister of State...
  • These cooperative efforts would contribute to improving living conditions in the occupied territory, said Qatari minister Sultan bin Saad Al Muraikhi.
  • Qatar has provided more than $1.5 billion for health, education, housing, industry and other sectors in Gaza.
Geostrategy

Saudi statistical authority launches a unified channel for data sharing

Saudi Arabia's General Authority for Statistics on Thursday launched Statistical Database, a unified channel where all data produced by the...
  • The platform uses advanced search techniques with advanced features such as (API) technology to provide an interactive experience.
  • It also allows different groups of users to access the data and statistics provided by GASTAT and view its descriptions as well.
Economy

Joblessness in Egypt grows 7.5% to 2.2m in 3Q

The number of people out of work in Egypt grew 7.5 percent to 2.2 million in the third quarter of...
  • According to the Central Agency for Public Mobilization and Statistics the size of the labor force increased 0.9 percent to 29.4 million from 29.1 million individuals
  • The bulletin attributed the rise of unemployment and labor force to the influx of new graduates during the months of August and September into the labor market
Interview

‘GCC may avoid NMCs, Abraajs with robust norms’

The region’s financial regulators must be extra vigilant to avoid catastrophic debt crises, Khalid Abdulla-Janahi, chairman of Vision 3, UAE,...
  • Strong corporate governance framework is an integral part of ensuring clean flow of money and the GCC region is yet to make some improvements, says Khalid Abdulla-Janahi
  • The companies in the region should have independent board members and directors with fixed term role to ensure high level of corporate governance, the Vision 3 chief adds
Business

EDGE and Israeli firm to set up electro-optics center in UAE

EDGE and Israel Aerospace Industries (IAI) have agreed to establish a maintenance center for a selection of IAI's systems in...
  • Omar Al Zaabi, Senior Vice President Head of Program Acquisition at EDGE and Boaz Levy, President and CEO of IAI, signed the agreement during a ceremony at the 2021 Dubai Airshow
  • In addition to maintenance, the centre will advance local marketing of these systems
Business

ADNOC Logistics and AD Ports to build a port and logistics facility at TA’ZIZ

ADNOC Logistics & Services (ADNOC L&S) and AD Ports Group have signed an agreement to develop a new port and...
  • The facility will be a critical part of the supply chain for feedstocks and will store and load final products for export.
  • The partners will select an international operator to enter into a new joint venture and contribute to the development of the new port.
Business

Airfares drop sharply in Kuwait after the opening of International Airport

Airfares to some destinations from Kuwait have dropped by 50 to 200 percent after operations at Kuwait International Airport resumed...
  • Airfares on some destinations such as Turkey, Egypt, France, and Germany dropped by more than 50 percent .
  • Cost of travel to the UAE, Britain, India, and the Philippines have remained high compared to the airfares before the outbreak of the Covid-19 pandemic.
Business

Saudi Arabia sets up $187m solar panel factory in Tabuk

Saudi Arabia has set up a $186.6 million worth solar panel factory in the Tabuk Industrial City to cater to...
  • Spread over more than 27,000 square meters, the factory will have an estimated production capacity of 1.2 gigawatts
  • The new Tabuk facility uses automated machines for its production, and employs latest international technologies in the field

Saudi Arabia’s first social network Jaco attracts 1m users in 2 months

RIYADH, SAUDI ARABIA:   The supervisor of the Kingdom's first social network Jaco - Saudi entrepreneur Fahd Al-Shidi announced that the...
Business

Company News

Latest News

IMF, GCC agree Middle East reforms dialogue must continue: Georgieva

At the end of her two-day visit to Saudi Arabia, she hailed the kingdom's strong “economic performance and impressive progress...
Geostrategy

UAE takes part in G20 Finance Track in Indonesia

UAE's Ministry of Finance (MoF) participated in the third Framework Working Group (FWG) meeting within the G20 Finance Track for...
Geostrategy

UAE Ministry of Emiratization launches Customer First forum

UAE Ministry of Human Resources and Emiratization has launched the Customer First Forum, comprising virtual sessions on a weekly basis...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Number of visitors to Qatar rise by 138.3% in August

The highest number of visitors was from the GCC countries at 59 percent.
  • The highest number of visitors was from the GCC countries at 59 percent
  • As for visitors by type of port, the visitors via Air make up the highest percentage
Business

Tadawul market cap vaults

Its value is $2.8trn in the first nine months of the year.
  • The boost in the value of the exchange is despite the total value of shares traded during the first nine months falling by 21.5 percent from the previous year to $373.33 billion
  • The highest close level for the index during the period was 13,820.35 points on May 8
Business

SAFEEN, Amaan Baghdad sign MoU

The agreement relates to fuel oil transport and storage.
  • SAFEEN Feeders, a subsidiary of SAFEEN Group, will manage the entire project, providing three Very Large Crude Carriers (VLCCs) and one Medium Range (MR) tanker.
  • SAFEEN Feeders will transport fuel oil from terminals in Port of Khor Al Zubair and Umm Qasr South Port to Iraqi territorial waters using the MR tanker.