RAKEZ, Indian Economic Trade Organization ink MoU to boost business ties
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) and the Indian Economic Trade Organization (IETO) have signed...
Business
Qatar Credit Bureau, Supreme Judicial Council to share data
DOHA, QATAR - Qatar Credit Bureau signed a memorandum of understanding (MoU) with the Supreme Judicial Council (SJC) pertaining to...
Geostrategy
Geostrategy
UN envoy says Yemen facing ‘uphill battle’ as 115 more die
Yemen is facing an "uphill battle" for peace, UN special envoy Hans Grundberg said on Monday, as the Saudi-led coalition...
- The Swedish diplomat, who took up the post in September, made the comments during a visit to Taez in the war-torn country's southwest
- Grundberg said "military operations (are) causing significant casualties, which are exacerbating the humanitarian situation
Business
CBRE study depicts upbeat future for Saudi hotel industry
With the Covid infection tapering off in Saudi Arabia, there has been a reasonable increase in hotel occupancy rates in...
- The average daily rate (ADR) at hotels across the Middle Estate jumped 9.9 percent in the first nine months of the year
- The growth has been fueled by higher levels of tourism activity in major destinations like Jeddah, Khobar and Riyadh
Business
ADNOC Distribution’s Q3 profit is $144m
The profit is 21 percent lower than Q3 2020 due to a lower fuel margin.
- The company's net profit for the first nine months of 2021 was AED 1.7 billion, six percent higher compared to the corresponding period in 2020.
- ADNOC Distribution said it plans to open 40-45 new stations in Saudi Arabia in 2021 as part of its expansion plans for the UAE and the kingdom.
Geostrategy
Saudi forces arrive in UAE for ‘One Destiny/1’ exercise
In order to boost military cooperation, and to exchange military expertise, members of Royal Saudi Land Forces arrived in the...
- The exercise aims to strengthen joint defense and military cooperation and knowledge between the two sides
- The exercise also aims to achieve readiness and operational compatibility and integration
Geostrategy
UAE and Cyprus look at ways to boost trade, cooperation
Foreign ministers of the United Arab Emirates and Cyrus reviewed bilateral relations and ways to boost trade between the two...
- The Ministers reviewed a number of issues of common concern, including the situation in the eastern Mediterranean
- Sheikh Abdullah lauded the distinguished bilateral relations between the UAE and Cyprus
Business
Standard Chartered starts sustainable account in UAE, Aldar first to open it
Abu Dhabi-based developer Aldar Properties became the first corporate in the UAE to open a sustainable bank account started by...
- Deposits in the accounts are used to fund sustainable projects.
- The bank has said the surplus cash will be used in addressing the climate crisis and financial exclusion.
Business
DFM picks new CEO
The Dubai Financial Market (DFM) has hand-picked Hamed Ahmed Ali as the new Chief Executive Officer (CEO) in the wake...
- The newly formed board of directors approved the appointment as part of efforts to “empower new leaders”
- Ali was previously appointed Deputy CEO and Chief Markets Officer of DFM in July 2020
Business
National Bonds ups stake in Taleem
Taleem Holdings is one of the largest education providers in the Middle East.
- National Bonds increased the stake in Taaleem, a company with paid-up capital of AED 750 million, from 19.6 percent to 23 percent.
- By end of Q3 2021, National Bond's investment portfolio has grown by more than 32 percent to surpass AED 10 billion ($2.72 billion).
Business
ADNIC nine-month profit at $90m
Its profit in the first nine months last year was $77 million.
- ADNIC’s overall premium retention ratio reached 33.5 percent for the nine months of 2021
- This was in comparison with 32.7 percent for the same period last year
Economy
UAE economy has passed recovery phase, on to growth path: Minister
According to the central bank's second-quarter review, the UAE economy is expected to grow 2,1% this year due to pandemic-mitigation...
- According to the central bank's second-quarter review, the UAE economy is expected to grow 2,1% this year due to pandemic-mitigation measures
- In 2022, the economy is predicted to grow by 4.2 percent, higher than the previous forecast of 3.8 percent
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RAKEZ, Indian Economic Trade Organization ink MoU to boost business ties
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) and the Indian Economic Trade Organization (IETO) have signed...
Business
Company News
Latest News
Solutions by stc to buy Giza
Business
Large turnout of visitors at WETEX, Dubai Solar Show
The Water, Energy, Technology and Environment Exhibition (WETEX) and Dubai Solar Show (DSS) saw a large turnout of visitors in...
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
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Economy
IsDB, Jordan sign two pacts to support food security, tourism sector
Jordanian Prime Minister Bisher Al-Khasawneh commended the continuous support of IsDB for economic projects in Jordan including help in the...
- Jordanian Prime Minister Bisher Al-Khasawneh commended the continuous support of IsDB for economic projects in Jordan including help in the modernization of the public sector
- President of the IsDB Group, Dr. Mohammad Sulaiman Al-Jasser affirmed the IsDB's interest in continuing to support and implement development and service projects in Jordan
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