Iran says European countries willing to buy our drones
TEHRAN, IRAN - A number of European countries have asked to purchase Iran’s unmanned aerial vehicles, the spokesperson for the...
Geostrategy
RAKEZ witnesses 35 percent growth in holding company registrations
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) reported a remarkable surge in the registration of holding...
Business
Business
National Aviation Services buys 51% stake in Siginon Aviation
The Kuwait-based National Aviation Services (NAS), a subsidiary of Kuwait-based logistics provider Agility Public Warehousing, has acquired 51 per cent...
- Siginon Aviation is the largest aviation cargo management and ground handling company in Kenya
- The company did not disclose the cost of the deal, but it said the enterprise value is approximately 12 million Kuwaiti dinars ($40 million).
Business
STC net profit $2.32 bn for 9 months
Net profit in Q3 alone increased by 5.71 percent
- The company attributed the rise in profits in the third quarter to the rise in revenues and a decrease in operating expenses.
- STC's shares are up nearly 20 percent so far this year
Business
Dubai looks to become equine industry hub
The emirate will see a number of new initiatives that will bring new opportunities to the sector, Sheikh Rashid bin...
- The annual cost of caring for a racehorse training in the UAE is about $30,000
- The total money spent by the sector in the country for racehorse training is $570 million
Investigation
UAE prosecutors launch probe into Union Properties
The UAE prosecutors have begun an investigation into Union Properties, the Dubai-based real estate developer, after allegations arose of the...
- The prosecutors will also investigate accusations that the firm hid the name of the beneficiary of the sale
- The firm, Union Properties, known for building Dubai Motor City, has not reacted to the start of the investigation
Business
Al Rajhi Bank’s net profit vaults 44% to $2.86bn
Al Rajhi Bank of Saudi Arabia posted a 44 percent rise in net profit to $2.86 billion for the first...
- The higher net profit for Q3 2021 is spurred by 43 percent year-on-year to SR 3.794 billion, compared to the third quarter of 2020
- The bank attributed the profit increase to the rise in total operating income by 26.4 percent, as a result of higher net financing and investment income
Business
Saudi National Bank posts 20% jump in net profit to $1bn
Saudi National Bank (SNB), the kingdom’s biggest lender, has posted a nearly 20% jump in net profit to $1 billion...
- SNB reported a net profit of 3.8 billion riyals ($1.0 billion) for the quarter that ended on Sept. 30, up from 3.2 billion riyals in the same period a year earlier
- The result was better than the 3.6 billion riyals average analysts' forecast
Business
VPS behind T20 bio-bubble
There will be over 2,200 people in the bio-bubble this time.
- The ICC World Cup T20 bio-bubble will consist of players, supporting staff and their families, and broadcast crew
- There will also be BCCI and International Cricket Council officials, staff at the hotel and stadium, and selected medical personnel
Business
Abu Dhabi launches virtual license for non-resident investors
The virtual license covers 13 economic sectors on top of the strategic sectors targeted by the Abu Dhabi government to...
- The program lets non-resident foreign investors obtain an economic license for doing business in the emirate
- They can now do this without any prior residence procedures and from any location outside the UAE
Economy
Dubai approves Hatta master development plan
The Hatta master development plan is said to be aimed at developing Hatta, an exclave of Dubai, into a tourist...
- The Hatta plan is a part of the Dubai 2040 Urban Master Plan, which aims to create a roadmap for enhancing infrastructure
- The master plan also aims to implement development projects and initiatives across the emirate over the next 20 years
Business
Electrified cars hit almost a fifth of EU Q3 vehicle sales
At least one in five vehicles sold in the European Union (EU) in the third quarter of the current fiscal...
- Battery electric vehicle sales jumped nearly 57 per cent to more than 212,000 units, while plug-in hybrid models rose nearly 43 per cent
- This is a slower pace of growth than in 2020 when sales almost trebled from a low base
Iran says European countries willing to buy our drones
TEHRAN, IRAN - A number of European countries have asked to purchase Iran’s unmanned aerial vehicles, the spokesperson for the...
Geostrategy
Company News
Sharjah festival to screen films from 43 countries
Arts & Culture
Yahsat H1 revenue $206m
Business
Latest News
ADNOC Drilling H1 profit $379mn
Business
SABIC profit surges to $2.1bn
Business
Saudi launches five projects to produce electricity using renewable energy
Riyadh, Saudi Arabia--Saudi Arabia has launched five new projects to produce electricity using renewable energy, which is part of the...
Economy
Bayt survey says 71% of professionals may quit jobs in 2023
When asked why professionals may change their careers entirely, “to find their real passion” ranked first (37%) followed by opportunities...
Business
Most Read
Business
Iraq and Qatar look to boost cooperation in aviation sector
Iraq and Qatar are looking to enhance cooperation in the field of civil aviation, especially in technical, air transport, and...
- Head of the Iraqi Civil Aviation Authority and Minister of Transport and Qatar Aviation Authority discussed the prospects for joint cooperation
- The two looked at boosting ties in technical, air transport, air safety and aviation security, as well as scholarships and training for the Civil Aviation Authority
Geostrategy
UAE, Russia review bilateral relations, strategic ties
The UAE foreign minister noted both the countries support each other to achieve sustainable economic growth and enhance the prosperity...
- Sheikh Abdullah discussed Ukraine crisis with Lavrov and promised full support to efforts aimed at finding a peaceful solution to the conflict.
- The two also discussed issues of common concern including energy and food markets and the importance of their stability to the global economy.
Geostrategy
UAE, UN Women discuss gender equality, empowerment
NEW YORK, US - UAE foreign minister Sheikh Abdullah bin Zayed Al Nahyan discussed enhancing the prospects of women empowerment...
- Both sides reviewed UAE’s efforts in areas of women’s empowerment across all segments of society.
- The two also discussed the critical role of women in conflict prevention, resolution and peacebuilding