Agthia okays H1’23 interim dividend
The interim dividend reflects the firm’s robust balance sheet.
Business
Dubai real estate sales up despite price rise since January 2020
Dubai, UAE – The Dubai Land Department (DLD) reported over 3,200 transactions worth AED 24.7 billion last week and this...
Business
Business
Sharjah earmarks $1.23m to support publishers
The gesture aims to provide public and government libraries in Sharjah with various modern publications in all Arab and foreign...
- Sharjah ruler Sheikh Sultan bin Muhammad Al Qasimi has directed the allocation AED4.5 million (around $1.23 million) to help publishing houses
- The amount will be used to purchase the latest publications from publishing houses participating in the Sharjah International Book Fair
Videos
How much does fuel cost in Arab countries?
Merely producing great quantities of oil or having a shortage does not dictate whether a country will have the cheapest...
- The world usually buys gasoline at the same price, with the current global average being $1.21 per liter
- However, the price at which gasoline is sold by each country varies because of national and provincial subsidies and tax rates
Business
Air France inks Dubai deals
It has signed sustainable aviation fuel deals with Dubai firms.
- A high-level Air France delegation held strategic meetings with aviation leaders based in Dubai at Expo 2020
- The networking event was organized in partnership with the lille3000 association and sponsored by Clarins
Business
Workshop kicks off at MIT under Monshaat supervision
The first workshop of the Regional Entrepreneurship Acceleration Program kicked off today at the Massachusetts Institute of Technology (MIT), under...
- A team representing different sectors interested in developing an innovative entrepreneurship ecosystem in the Eastern Province is participating in the workshop
- The workshop aims to assess and analyze the ecosystem in the Eastern Province using available data and statistics
Arts & Culture
UAE well-being indicator has achieved progress, says minister
Hessa bint Essa Buhumaid, Minister of Community Development and Chairwoman of Digital Wellbeing Council, said that the UAE well-being indicator...
- The announcement was made when Buhumaid chaired the virtual Second Wellbeing Council Meeting with the participation of members of the well-being council
- The Wellbeing Council is a platform to promote coordination and government integration
Economy
Jadwa says Saudi fiscal budget deficit might contract this year
Saudi Arabia might see a contraction in fiscal budget deficit this year, according to Riyadh-based Jadwa Investment.
- The Kingdom's income from VAT contributed 70 percent of non-oil revenues during the third quarter of 2021
- "With Brent oil prices currently trading above $80 per barrel, there is a strong possibility that full year 2021 government oil revenue could surpass our current estimate of SR528
Business
PIF of Saudi Arabia looks to invest in China
Public Investment Fund of Saudi Arabia is looking to diversify investments into Chinese companies after having confined its overseas holdings...
- The PIF has applied for a Qualified Foreign Institutional Investor license in China, to be able to directly trade renminbi-denominated stocks
- The $450 billion sovereign fund, which hasn’t disclosed any investments in China, has ambitions to control $2 trillion of assets
Geostrategy
Erdogan holds closed-door meeting with Libyan PM
Turkey’s president Recep Tayyip Erdogan and Libya's prime minister Abdul Hamid Dbeibeh had a one-on-one closed-door meeting at the Vahdettin...
- The leaders later attended a meeting between the countries' delegations
- Turkey and the North African country have seen closer ties in recent years, especially after the signing of security and maritime boundary pacts in November 2019
Business
Dubai to merge economy and tourism departments
Dubai intends to merge the departments of economy and tourism in order to attract some 25 million tourists by 2025...
- The new entity will be asked to increase the added value of the industrial sector
- Al Marri has been Director General of the Dubai Department of Tourism and Commerce Marketing (DTCM) since 2013
Business
Dubai sets up two new courts for securities disputes
Dubai Courts has established two new courts in the Commercial Court in order to speed up settlement of securities-related disputes....
- The new entities were created as per the directives of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai
- The new courts will focus on dispute resolution in securities, shares, bonds, and other such financial instruments
Agthia okays H1’23 interim dividend
The interim dividend reflects the firm’s robust balance sheet.
Business
Company News
GIG H1 net profit $48.9 million
Business
Latest News
NADEC records $11m profit
Business
Saudi Arabia, China explore trade, investments opportunities
The two sides reviewed the growth of bilateral trade, and the volume of the commercial partnership.
Economy
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
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Geostrategy
‘Agri-tech, innovation key in improving farmers’ livelihoods’
UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri participated in the Agriculture Ministers’ Meeting in Bali...
- Innovation and agri-tech has helped UAE to support smallholder farmers and enhance their contribution to food security.
- innovative agricultural methods are the building blocks of sustainable food systems, says UAE minister.
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.