Iranian company SAIPA to export cars to Russia
TEHRAN, IRAN – The CEO of SAIPA Auto Making Company, Iran’s second-largest car manufacturing company, said a contract has been...
Business
Arts & Culture
Sharjah International Book Fair world’s largest publishing event in 2021
The Sharjah International Book Fair (SIBF) has emerged as the world’s largest book fair this year, attracting the participation of...
- The fair saw the participation of 546 publishers and literary agents from 83 countries.
- In the run up to the fair, SIBF Publishing Conference serves as a platform for buying and selling rights and signing book deals.
Business
Trade surges 69% to AED15.84bn between UAE and Italy in 2021
Trade between the United Arab Emirates (UAE) and Italy has surged 68.6 percent to AED15.84 billion in the first half...
- Imports too showed remarkable strength touching AED11.33 billion while exports hovered around AED3.65 billion
- Direct trade amounted to AED12.954 billion, whereas free zone trade totaled AED2.839 billion
Business
Air Arabia Q3 net profit $56 million
The airline said it served over 1.9 million passengers from its five hubs.
- The company’s turnover for the said quarter increased by 174 percent to AED804 billion, compared to AED294 million in the corresponding period last year.
- During the first nine months of the year, Air Arabia added 43 new routes to its global network from its hubs in the UAE, Morocco, and Egypt.
Arts & Culture
Riyadh Art launches Tuwaiq Sculpture Symposium
Tuwaiq Sculpture is the second public art programme to be launched as part of Riyadh Art,
- Tuwaiq Sculpture is the second public art programme to be launched as part of Riyadh Art
- More than 400 sculptors across 71 countries have applied to participate in the symposium
Economy
UAE, Bahrain to establish joint investment fund in both countries
“The governments of the UAE and Bahrain, in light of the fraternal ties and long-term mutual interests between the two...
- According to the Bahrain News Agency, Mumtalakat and Mubadala Investment Co will launch the new fund together
- Bahraini Crown Prince Salman bin Hamad Al Khalifa announced the deal during a visit to the UAE
Business
ADX, Bahrain Bourse partner to unlock joint opportunities
The parties agreed on a strategic plan to implement new measures over the next nine months to strengthen ties between...
- As part of the agreement, ADX and BHB have agreed to introduce a number of products and services including Exchange Traded Funds (ETFs)
- As part of ADX’s strategy for growth announced at the beginning of the year, the exchange is forging partnerships with global exchanges
Business
TAQA nine-month net income $1.17 bn
The total revenue is 11 percent higher than the same period last year.
- TAQA’s Board of Directors announced an interim cash dividend of AED618 million ($168.25 million).
- The EBITDA was AED14.4 billion ($3.92 billion), an increase of 20 percent from last year.
Geostrategy
UAE calls for inclusive climate agenda for COP28
Investing in low-carbon solutions in the energy sector will drive economic prosperity, says UAE Special Envoy for Climate Change Sultan...
- The UAE has offered to host COP28 in 2023. The Asia Pacific Group of nations had endorsed the UAE's bid.
- Investing in low-carbon solutions in the energy sector will drive economic prosperity, says UAE Special Envoy for Climate Change Sultan bin Ahmed Al Jaber.
Business
ACWA Power loss in Q3 $5.8 million
The company said losses due to IPO-related issues and payments.
- The company's profit in the same quarter a year ago was SR541 million.
- The net profit of the first nine months of this year also went down by half to SR434 million.
Business
ADNOC Drilling 9M revenue $1.7 bn
This was the company's first quarterly disclosure since listing on ADX.
- The Company reported an EBITDA of $785 million and a net profit of $460 million for nine months of 2021.
- The onshore revenue for the nine months was $847 million, up 10 percent compared to the same period last year.
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Iranian company SAIPA to export cars to Russia
TEHRAN, IRAN – The CEO of SAIPA Auto Making Company, Iran’s second-largest car manufacturing company, said a contract has been...
Business
Company News
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Solutions by stc to buy Giza
Business
Qatar launches Tatween platform for job localization in private sector
Qatar has launched a forum, Tatween Platform, on job localization in the private sector, with the participation of representatives of...
Business
Qatar hopes to make US$17bn in profit from World Cup
The 2022 World Cup may prove to be a big windfall for Qatar as it hopes to make some $17...
Business
Most Read
Economy
Saudi Arabia, China explore trade, investments opportunities
The two sides reviewed the growth of bilateral trade, and the volume of the commercial partnership.
- The two sides reviewed the growth of bilateral trade, and the volume of the commercial partnership
- Saudi Arabia's exports to China, in the second quarter of 2022, amounted to about $16.8 billion
Business
Salik begins trading on DFM, after large investor interest
Dubai, UAE— Salik, Dubai toll operator, has listed on Dubai Financial Market under the name of "SALIK", after the offering...
- It is the third public offering and listing on the DFM in 2022 as part of the plan to develop financial markets in the country
- The strong demand toward the issuance prompted the company to raise the offered shares to 1,867,500,000 shares representing 24.9 percent of its share capital
Economy
UAE tops Arab countries in WIPO’s Global Innovation Index 2022
The UAE also ranked 18th globally on the GII's Innovation Input Sub-Index, five ranks higher than 2021.
- The country also ranked 18th globally on the GII's Innovation Input Sub-Index, five ranks higher than 2021
- It ranked 6th globally in the Institutions indicator, as compared to 24th last year, 7th in the Infrastructure indicator, as compared to 14th in 2021