Global space economy is worth billions, say experts
ABU DHABI, UAE - The global space economy has great potential in terms of economic prospects, with the sector going...
Business
Business
Emaar property sales at $5.7bn
Emaar Development sales were AED20.943 billion in Jan-Sept 2021.
- The $5.7-billion property sales revenue was said to be an increase of 382 percent compared to the first nine months of 2020
- The build-to-sell property development business is majority-owned by Emaar Properties
Business
Qatar Islamic Bank named world’s second strongest Islamic bank
The Qatar Islamic Bank (QIB) has been ranked as the "Fourth Strongest Bank in the Middle East" and "Second Strongest...
- Financial services company The Asian Banker also ranks QIB as the "Fourth Strongest Bank in the Middle East".
- QIB has recently posted a net profit of QR2.5 billion ($686 million) for the first nine months of 2021.
Business
UAE rich reset life goals after Corona but find confidence shaky: Survey
About 88 percent of the affluent people in the UAE have reset their life goals following the Corona pandemic, and...
- The 'confidence gap' is more pronounced among the emerging affluent, according to Standard Chartered survey.
- Volatility in financial markets and fear of poor returns on investments are the major causes of low confidence.
Videos
Trade balance of key Arab countries in 2020
This week's TRENDS Explainer Video focuses on top Arab economies in terms of trade balance in the year 2020.
- One of the best ways to judge the strength of a country's economy is to look at its trade balance, or the difference between exports and imports
- If exports surpass imports, the trade balance is surplus. If imports surpass exports, the trade balance is deficit
Business
DONIA: UAE Central Bank’s new transactions index to start from 7 Dec
The Central Bank of the UAE (CBUAE) will publish a new index for actual overnight funding transactions denominated in UAE...
- Dirham Overnight Index Average (DONIA) is computed as a volume-weighted money market rate for all actual overnight funding transactions of AED10 million or above.
- It would be published on UAE official working days by 09:30 hours local time on the CBUAE’s website and via Bloomberg and Refinitiv Eikon.
Business
AD Ports 9M revenue up by 22 percent
The rise is attributed to volume growth, business diversification.
- EBITDA rose 7 percent year-on-year to AED1.161 billion during this period, up from AED 1.081 billion during the same period in 2020.
- General cargo volumes rose to 37 million metric tonnes in year-to-date September 2021, up from 22 million metric tons in the same period in 2020.
Business
Tadawul bars Anaam Holding from trading for one day
Tadawul, the Saudi Exchange, has barred Anaam International Holding Group from trading for one day, after an adverse comment in...
- Anaam will be able to resume trading for 20 trading sessions with the possibility of another suspension
- The poultry processing company reported that its net losses widened by 525 percent in the nine months period of 2021
Business
Yahsat of Abu Dhabi figures in MSCI’s global indices
Al Yah Satellite Communications Company (Yahsat) of Abu Dhabi has been included in MSCI’s global indices.
- Yahsat’s inclusion will be effective on December 1, 2021
- The company began trading on the Abu Dhabi Securities Exchange (ADX) in July following its initial public offering (IPO)
Geostrategy
US-Qatar talks dwell on cooperation
The fourth US-Qatar Strategic Dialogue led to both sides discussing to several economic, commercial, regional, and humanitarian issues.
- The US underlined Qatar’s commitment in providing $75 million over five years for the cause of human rights
- The US side also highlighted Qatar’s collaboration with UN agencies in the form of a $500-million assistance pledge to aid refugees
Business
Gulf Air boosts frequencies
Passenger numbers have grown ahead of the holiday season.
- Bahrain’s national carrier Gulf Air has boosted frequencies to popular destinations
- This is said to be in line with increasing demand for air travel and relaxed travel restrictions in many countries
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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
Global space economy is worth billions, say experts
ABU DHABI, UAE - The global space economy has great potential in terms of economic prospects, with the sector going...
Business
Company News
Latest News
UAE-China ties successful model of international relations: Al Dhaheri
Beijing, China---Ali Obaid Al Dhaheri, UAE Ambassador to China, has said the UAE and China maintain close strategic relations, which...
Geostrategy
Arab Parliament reelects Al-Asoumi as speaker for two years
During the session, Jordanian MP Khalil Attia was elected as second deputy speaker of the parliament, Iraqi MP Shaalan Abdul-Jabbar...
Geostrategy
UAE and China relations a model to follow: Suhail Al Mazrouei
The Energy Minister said the UAE encourages joint investments with China in every sector, most notably in digital economy, green...
Geostrategy
Most Read
Economy
Jordan government reduces fuel prices for October
The price of 90-octane gasoline and 95-octane gasoline will decrease by 60 fils in October.
- The price of 90-octane gasoline and 95-octane gasoline will decrease by 60 fils in October
- The price of one litre of diesel and kerosene will sell at JD0.825 in October, instead of JD0.790
Economy
Saudi Arabia hopes to post budget surplus of US$24bn
Saudi Arabia is expecting to record an increase in its budget surplus in 2022 to S24 billion, according to the...
- According to the ministry of finance, Saudi total revenues are expected to reach about $299 billion in 2023, while reaching about $323 billion in 2025
- The minister said the objectives of the general budget for the fiscal year 2023 come as a continuation of the process of work to strengthen the financial position of the kingdom
Business
Saudi to make US$32bn in income from recycling by 2035
Saudi Arabia is expected to generate an annual income of $32 billion from recycling waste by 2035, according to the...
- Mansour Al-Mushaiti said the forecast is based on estimates made by the National Center for Waste Management
- He also flagged up the move to zero carbon neutrality by 2060, as well as seeing 94 percent of waste recycled by 2035 instead of being taken to landfills