UAE-Saudi non-oil trade reaches US$159bn in 2018-22
ABU DHABI, UAE - The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by...
Business
UAE, China’s Hainan Province ink multiple deals to boost trade, economic ties
DUBAI, UAE - The UAE and China's Hainan Province have signed four major private-sector agreements aimed at boosting the rapidly...
Geostrategy
Economy
Saudi Arabia unveils first non-profit city in the world
“This will be the first non-profit city of its kind which will contribute to achieving the goals of Mohammed bin...
- The city is billed to be a model for the development of the non-profit sector globally and an incubator for youth and volunteer groups
- The city's masterplan embodies a human-centered, advanced digital metropolis designed to be sustainable and pedestrian-friendly
Geostrategy
UAE, Greece, Cyprus foreign ministers hold tripartite meeting
The three leaders also reviewed issues of common interest, the situation in the region, along with regional and international developments.
- The three leaders also reviewed issues of common interest, the situation in the region, along with regional and international developments.
- The foreign ministers of Cyprus and Greece highlighted the importance of this tripartite meeting and its role in promoting frameworks of joint cooperation with the UAE
Geostrategy
Dubai Airshow: UAE MoD signs deals worth AED 5bn
The first deal was signed with Airbus Defence and Space S.A.U., a Spanish company, to purchase refueling aircraft for the...
- The first deal was signed with Airbus Defence and Space S.A.U., a Spanish company, to purchase refueling aircraft for the Air Force and Air Defense Command
- One contract was signed d with the French company, Thales, to purchase communication systems for the Air Force and Air Defense
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
UAE-Saudi non-oil trade reaches US$159bn in 2018-22
ABU DHABI, UAE - The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by...
Business
Company News
Latest News
Funding crunch cripples Lebanon film industry
Arts & Culture
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
DP World launches GBC to support growth plans of large companies
Dubai, UAE--- DP World has launched the Global Business Corporation (GBC), a new strategic arm focused on supporting large companies...
Business
Most Read
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.
Geostrategy
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...
- The sentiment was echoed in a meeting between Secretary General of the GCC, Dr. Nayef Falah Mubarak Al-Hajraf, and China's Ambassador to Saudi Arabia, Chen Weiqing
- The two sides discussed all issues and topics of common interest, and reviewed the cooperation relations between the GCC and China to achieve common interests