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
Business
Dubai Economy, Golden Radiant help DED licensed traders to widen reach
Traders holding Dubai Economy's DED Trader license can digitalize their businesses by using SingleCart App and a complete line-up of...
- Traders can digitalize their businesses by using SingleCart App and a complete line-up of the app's features to reach a larger number of consumers.
- The app is designed to help them handle in-store and online sales seamlessly from their smartphone.
Business
BNET handpicks new CEO
Bahrain Network (BNET) has announced the appointment of Mr. Ahmed Jaber Aldoseri as its Chief Executive Officer, a former member...
- Mr. Ahmed Aldoseri held several notable positions in the past including Acting Director General of Information Security and Radio communications
- Prior to his current position, he provided consultancy services to the Kingdom of Bahrain’s Government on Cybersecurity matters
Business
Transaction law changes will help raise UAE’s competitiveness ranking: CBUAE
Several amendments to the Commercial Transactions Law related to cheques will contribute to raising the UAE's ranking in the Global...
- Several amendments to the Commercial Transactions Law will come into effect in Jan 2022.
- The changes will also consolidate the principles of justice by striking a balance between the interests of the cheque beneficiary or bearer: CBUAE
Business
Saudi firms refinance SAR10bn real estate agreement
Saudi Real Estate Refinance Company of the Public Investment Fund has announced the signing of a refinancing partnership agreement with...
- The agreement aims to increase the liquidity in the home financing market in the Kingdom, reduce the cost of home financing for Saudi families
- The agreement also supports REDF in enhancing its financial stability
Business
Middle East’s first lithium production facility to come up at KIZAD
The first lithium production facility in the Middle East will be established in the Khalifa Industrial Zone Abu Dhabi (KIZAD),...
- The $95 million will be set up by Australia's Lepidico at the eco-friendly, zero-waste facility.
- Lepidico's special process extracts lithium and recovers valuable byproducts from lithium-mica and phosphate minerals.
Business
Emirates set for Boeing talks: CEO
The talks will be held over the delayed 777Xs 'before and during' Dubai Air Show.
- The airline has repeatedly complained about the delivery of the long-haul jet, whose launch has been set back by a series of safety and technical problems.
- Emirates announced an order of 150 777Xs at the 2013 Dubai Air Show and later revised the deal.
Business
Abu Dhabi launches program to expand knowledge economy
In order to expand the emirate’s knowledge economy, a program designed by Yale University has been launched in Abu Dhabi...
- The program is being offered in the emirate by First Abu Dhabi Bank through a collaboration with Emirates Foundation and Icon Training & Coaching
- It aims to further build the skills of Emirati talent in the financial sector and build capacity
Business
Brazil’s InvestSP joins Global Logistics Passport initiative
InvestSP Corporation and the Global Logistics Passport initiative have signed a Memorandum of Understanding or MoU for better shipping and...
- Members of the Global Logistics Passport Initiative can expect an annual increase in trade of 5-10 percent
- As merchants benefit from more efficient commodity movements, new trade routes are expected to be opened
Economy
No plan to reduce VAT any time soon, says Saudi minister
Saudi Arabia will not reduce value added tax any time soon, but will consider doing it when it public finances...
- There will be no VAT cut anytime soon, he told the media, on the sidelines of the Group of Twenty (G20) meetings in Rome
- Al-Jadaan expects the Kingdom's general budget to record a deficit at the end of this year
Business
Etisalat Q3 revenue up 2%
The aggregate subscriber base increases by 4 percent YoY.
- Net profit amounts to AED 2.4 billion, an increase of 1 percent compared to the same period last year.
- The company said that in the UAE, its subscriber base reached 12 million.
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
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ADQ and OIA discuss opportunities to boost Oman-UAE cooperation
Abu Dhabi, UAE--ADQ, an Abu Dhabi-based investment and holding company, discussed a range of investment opportunities with Oman Investment Authority...
Business
UAE president, Oman sultan discuss ties, collaboration
Sheikh Mohamed discussed opportunities for building upon the growing economic ties between the UAE and Oman.
Geostrategy
UAE Foreign Minister makes phone call to Israeli PM
Sheikh Abdullah bin Zayed thanked Prime Minister Lapid for the warm reception during his recent visit at the head of...
Geostrategy
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Business
MENA’s first NFT marketplace NIFTY Souq secures $1.5m investmentÂ
The UAE-based NIFTY Souq, the MENA region’s first NFT marketplace which launched in 2021, has announced they’ve secured $1.5 million...
- Â Confirmed investors include Palm Ventures, Falak Investment Hub and Fitzy Fund alongside angel investors from the UAE, KSA and the US.
- The seed-fund investment will be used on tech updates and the platform's expansion, says Talal Afghani, NIFTY Souq’s Co-founder.
Economy
Saudi Arabia ranks first in G20 visitors flow rating: report
According to the report, the number of foreign tourists visiting the kingdom has surged 121 percent from January to July...
- According to the report, the number of foreign tourists visiting the kingdom has surged 121 percent from January to July 2022
- Saudi tourism sector is currently recovering from the fallout of the pandemic following preventive measures taken by the government
Business
Tabby, Paymob announce partnership
They will create a Buy Now Pay Later solution for retailers.
- Tabby’s BNPL payment solution will be available to over 120,000 Paymob merchants.
- Tabby is a payments and shopping app, and Paymob, an omni-channel payments facilitator in MENAP.