UAE looks to deepening trade relations with ASEAN bloc
Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, led the UAE delegation to Jakarta, Indonesia, the...
Business
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
Business
AlUla will become top tourist destination: French ambassador
Ludovic Pouille, French ambassador to Saudi Arabia, believes that AlUla Governorate will become one of the top international tourist destinations...
- He also expressed admiration of what he saw during his third visit to AlUla this year, referring to its nature and developments
- The ambassador noted that the two countries cooperate in the field of agriculture and environment employing innovative techniques and methods to face the climate change
Business
AD Ports subsidiary forays into construction logistics market
MICCO Logistics, a subsidiary of AD Ports, has shown interest in tapping into the construction and metals manufacturing sector by...
- The acquisition, with a combined transport capacity of more than 2,300 metric tonnes, will expand the company’s existing ground fleet of more than 400 vehicles
- The new tipper fleet will be fully equipped with pre-installed fleet management systems
Business
Emaar Malls Q3 net profit $122m
The profit is 86 percent more than that of Q3 2020.
- The revenue rose to 1.14 billion dirhams from 839 million dirhams in the same period last year.
- Occupancy at key assets of Emaar was 91 percent during the quarter.
Business
Kuwait’s shopping mall, the Avenues, to open in Saudi Arabia
The largest shopping mall brand in Kuwait, the Avenues, is all set to venture into Saudi Arabia with the opening...
- It will launch the outlets in Riyadh and Alkhobar
- The design for Riyadh is now complete and the contract is expected to be awarded soon
Business
Q3 real estate transactions worth $1.55 billion recorded in Sharjah
Real estate transactions worth AED5.7 billion ($1.55 billion) were recorded in Sharjah during the third quarter of 2021, an increase...
- A total of 1,662 sales transactions were recorded during Q3 2021, showing an increase of 52.5 percent compared to the same period last year.
- About 76 percent (1,262) of the sales transactions were made in the residential sector, followed by industrial sector (206), commercial (152) and agricultural (42).
Expo 2020 DUBAI
Expo 2020 receives 3m visits in first five weeks
It has just been a little more than a month and Expo 2020 has received some three million visits, since...
- Organizers also said that the number of virtual visits to the Expo 2020 Dubai’s online platform has reached 14.8 million since October 1
- Ticket sales for the fair have been beefed up to increase traffic to the fair
Business
Fertiglobe revenues up 175 percent in Q3
The company expects the strong showing to continue in Q4.
- The adjusted EBITDA increased 257 percent to $371 million in Q3 2021 as compared to Q3 2020.
- Fertiglobe will join ADNOC and ADQ as a partner in a new world-scale 1 million metric tons per annum blue ammonia project at TA’ZIZ in Ruwais.
Business
Non-Saudis can now invest in real estate funds in two holy cities
The Capital Market Authority (CMA) of Saudi Arabia allowed the financial market institutions to accept the subscriptions of non-Saudis in...
- The ownership system for non-Saudis in the Kingdom stipulates that non-Saudis are allowed to own real estate for their own residence
- It can happen after obtaining a license from the Ministry of Interior, and for foreign representations to own their official headquarters
Business
Etihad Rail completes construction of UAE network’s first marine bridge
Etihad Rail has completed the construction of a rail bridge connecting Khalifa Port with the UAE National Rail Network. The...
- The bridge will play an important role in improving the transportation of goods in the region.
- Etihad Rail recently completed construction works for Package A of Stage Two, which extends over 139 km.
Business
Investcorp builds €1bn European real estate portfolio
Since launching its European real estate business in 2017, Investcorp has invested close to €1 billion into 80 properties across...
- Since launching its European realty business in 2017, Investcorp has invested €1 billion into 80 properties across the UK, Germany, The Netherlands, and Belgium
- The recent industrial acquisitions comprise three multi-let and seven single-let industrial properties located in Bedford, Warrington, Stone, Gateshead, Stockton-on-Tees, etc
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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
UAE looks to deepening trade relations with ASEAN bloc
Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, led the UAE delegation to Jakarta, Indonesia, the...
Business
Company News
Latest News
GIG H1 net profit $48.9 million
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...
Business
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.
Economy
Specialized sessions on Metaverse opportunities held in Dubai
As many as seven side sessions were held on the first of the two-day specialized sessions on Metaverse.
Business
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Business
Four new Saudi fintech firms to work under legislative pilot environment
Riyadh, Saudi Arabia---The Central Bank of Saudi Arabia has authorized four new financial technology companies to work under the umbrella...
- Saudi Central Bank's approval for these firms brings the total number of such authorized companies to 42.
- This step will achieve the objectives of enhancing and diversifying the innovations presented in the financial sector, promoting savings, payments and investment activities.
Geostrategy
UAE, Tanzania sign pact to avoid double taxation
UAE and Tanzania have signed an agreement for avoiding double taxation and preventing tax evasion.
- The pact was signed as part of the UAE's endeavors to strengthen cooperation frameworks in tax matters.
- The agreement is in line with both countries’ efforts to boost cooperation in tax fields, increase investment opportunities, encourage trade exchange.
Business
First international shipment arrives at Mugharraq Port
Abu Dhabi, UAE--- AD Ports Group Thursday announced the arrival of the first international shipment at Mugharraq Port, one of...
- This is the first shipment since Mugharraq Port was recognised as an international port facility.
- International recognition was achieved after a series of major upgrades at the port.