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.

Iran receives US$6.7bn foreign investment in May 2023 EXPO, says official

TEHRAN, IRAN - Foreign companies and governments committed some US$6.7 billion worth of investments during an exhibition that was held...

Economy

Iraqi Trade Center to be launched at ACC’s headquarters in Jordan

AMMAN, JORDAN - Amman Chamber of Commerce (ACC) and the Iraqi Embassy here agreed to open Iraqi Trade Center at...

Business
Business

Etihad bags maintenance contract

The contract involves Virgin Australia's Boeing 737 fleet.
  • The contract was signed during the Dubai Airshow for 30 nose-to-tail aircraft of Virgin Australia.
  • Etihad Engineering’s facility is located in Abu Dhabi and is spread over an area of 500,000 sqm.
Business

Tarjama sells stake to French firm

French fund manager Amethis has bought a minority stake in the UAE-based firm.
  • The investment, for an undisclosed amount, will fund growth “across the region's main markets”
  • Paris-based Amethis is investing through its Amethis MENA Fund II, which raised $101 million in July
Geostrategy

12 universities attend 2nd Solar Decathlon Middle East inaugurated by DEWA

Dubai Electricity and Water Authority (DEWA) has inaugurated the 2nd Solar Decathlon Middle East (SDME) in which eight teams from...
  • Eight teams from these varsities to design, build and operate solar-powered homes.
  • The teams compete in 10 contests such as architecture, engineering and building, energy management and energy efficiency.
Expo 2020 DUBAI

UAE launches The Global Tolerance Alliance at Interfaith Summit at Dubai Expo

Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, expressed his faith that the Interfaith Summit will enable...
  • Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, expressed his faith that the Interfaith Summit will enable efforts for a world of tolerance and peace.
  • The festival also featured the "Tolerance and Inclusivity" session, presenting a humanitarian vision to promote the values of tolerance and coexistence
Business

OXAGON, largest floating industrial complex in the world, launched in Saudi Arabia

The project forms the next phase of NEOM’s master plan and represents a radical new model for future manufacturing centers.
  • The project forms the next phase of NEOM’s master plan and represents a radical new model for future manufacturing centers
  • OXAGON will establish the world’s first fully integrated port and supply chain ecosystem for NEOM
Geostrategy

UAE, Russia, Kazakhstan to modernise Baikonur Cosmodrome

The pact lays down a framework to establish closer cooperation and collaboration between three countries in all space-related fields.
  • The pact lays down a framework to establish closer cooperation and collaboration between three countries in all space-related fields
  • Thee countries will work together to launch joint projects including an ambitious bid to modernize the Gagarin Start launch site
Business

Emirates Islamic lists US$500m sukuk

The five years’ benchmark issuance, rated A+ by Fitch Ratings, was priced at 2.082%.
  • The issuance will further support Emirates Islamic’s business expansion plans
  • The listing strengthens Dubai capital market's status amongst the leading Sukuk listing venues globally
Economy

UAE, Israel in talks to sign comprehensive economic pact

The announcement was made via video conferencing on Tuesday by Abdullah bin Touq Al Marri and Orna Barbivai, Israeli Minister...
  • The partnership between the two countries will reinforce their economic ties, promote trade, increase new investment opportunities for companies
  • Trade exchange between the two countries from the signing of the peace accord in September 2020 until the end of September 2021 has been around AED3.5 billion
Economy

DFM incentivizes IPOs from companies in key growth sectors

The program encompasses unprecedented incentives including financial support to the cost of private companies’ IPOs on DFM’s Main Market and...
  • The new program is in line with the efforts to strengthen Dubai’s position as global capital markets hub
  • The DFM seeks to attract companies from sectors such as Technology, Transport & Logistics, Healthcare, Pharmaceutical, Manufacturing, and Agri-Tech
Business

Dubai launches five-year multi-entry visa for MNCs

The visa will enable MNC employees to participate in events, conferences, training courses, exhibitions and similar activities hosted in the...
  • The visa allows them to stay in the UAE for 90 days, with the option of extending their stay for another 90 days.
  • Between January and September 2021, Dubai received around 3.85 million international visitors.

Iran receives US$6.7bn foreign investment in May 2023 EXPO, says official

TEHRAN, IRAN - Foreign companies and governments committed some US$6.7 billion worth of investments during an exhibition that was held...
Economy

Company News

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SAFEEN, Amaan Baghdad sign MoU

The agreement relates to fuel oil transport and storage.
Business

GCC renews pledge to deepen partnership with China

The Gulf Cooperation Council (GCC) has renewed its commitment to continue having a strong partnership with China in order to...
Geostrategy

Saudi Arabia holds GCC meeting to boost economic ties

Saudi Arabia hosted a meeting of the GCC Financial and Economic Cooperation Committee to broaden economic cooperation among the GCC...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

UAE and Italy to widen trade and economic ties

The UAE and Italy are looking to widen trade ties between the two countries, and in this regard an Italian...
  • The talks touched on the customs services and facilities that Dubai Customs provides to facilitate trade
  • The meeting is part of Ertibat Initiative, which seeks to develop relations with foreign diplomatic missions and business sectors
Business

US Gecko Robotics set to establish international HQ in UAE

The Pittsburgh-based company is looking to establish a state-of-the-art manufacturing plant in Khalifa Industrial Zone Abu Dhabi.
  • The Pittsburgh-based company is looking to establish a state-of-the-art manufacturing plant in Khalifa Industrial Zone Abu Dhabi
  • Gecko Robotics is the latest to set up base in the UAE, joining UK tech company Gödel and food app development company Krush
Economy

Saudi banks provide $630 billion loans till August 2022

Riyadh, Saudi Arabia - Saudi bank loans granted to public and private sectors grew 15 percent  by the end of...
  • Private-sector lending also increased by 15 percent year-on-year to SAR 2.241 trillion ($600 billion).
  • Loans granted to public non-financial institutions increased 26 percent YoY to SAR 117.1 billion ($31.14 billion).