Dubai Investments net rises to $157m
Real estate sector remains one of the key business verticals.
Business
Business
ADGM-registered can now list shares on UAE markets
Entities registered with the Abu Dhabi Global Market or ADGM will now be able to offer and list shares on...
- An MoU was signed between the Registration Authority of the ADGM and the Securities and Commodities Authority or the SCA.
- The agreement aims to reinforce regulatory and supervisory cooperation between the two parties
Business
Kuwait private sector partner in boosting trade ties: UAE chambers
KUWAIT: A delegation from the Federation of UAE Chambers of Commerce and Industry and officials of the Kuwait Chamber of...
- Federation of UAE Chambers and Kuwait Chamber hold a meeting to discuss ways of promoting investment opportunities.
- Kuwait Chamber chairman expects Kuwait-Abu Dhabi cooperation in healthcare, education and food security.
Business
Saudi to punish expats who engage in jobs for personal benefit
The punishments could include monetary penalties, imprisonment, and then subsequent deportation.
- Any self-employed expatriate who engage in jobs for their own personal benefit could be fined SAR50,000 (around $13,300), jailed for six months
- The self-employed expatriate would be deported after serving the jail term and the payment of fines
Expo 2020 DUBAI
Pakistan invites auto-sector investment at Expo
The Federal Board of Investment of Pakistan has invited auto-sector investors to set up business within the country.
- The Pakistan government promises a safe and secure environment for foreign investors with legal protection under the Acts of Parliament
- It also promises investment opportunities in all sectors of economy for foreign investors with 100 percent equity or joint ventures
Business
Credit insurance firms of UAE and France sign reinsurance pact
DUBAI: Etihad Credit Insurance (ECI), a UAE Federal export credit company, and Bpifrance Assurance Export, a French export credit agency,...
- Etihad Credit Insurance and Bpifrance Assurance Export will push more Emirate and French projects globally.
- The UAE is France’s second-largest trade partner in the region. Non-oil foreign trade between the countries was AED 19.7 billion in 2020.
Business
Ducab unveils new brand identity
The UAE-based company will now focus on providing ‘Energy for change’.
- The UAE-based company will now focus on providing ‘Energy for change’
- The company seeks to generate positive economic, social, and environmental impact
Science
Nobel Prize in Physics rewards climate research
The Nobel Physics Prize has been awarded for ‘groundbreaking contributions to our understanding of complex physical systems.’
- Syukuro Manabe demonstrated how increased levels of carbon dioxide in the atmosphere lead to increased temperatures
- Klaus Hasselmann created a model that linked together weather and climate, thus explaining why climate models can be reliable
Business
Saudi Arabia’s Jabal Omar secures deal to restructure $1.25bn loan
Jabal Omar Development Company, one of Saudi Arabia's largest-listed property developers, has signed a deal to restructure a SAR 4.7-billion...
- The repayments will begin after a three-year grace period, Jabal Omar said in an exchange filing
- As per  the new agreement, the loan’s final maturity has been extended by three years to 2030
Business
Impossible Foods taps Bidfood UAE for local distribution
Bidfood UAE is part of the Bidcorp Group, and has officially been chosen to distribute the Impossible Burger across the...
- Bidfood will begin to distribute three of Impossible Foods’ plant-based items
- These are the Impossible Burger in 1.2-kg and 1.13-kg patties, and the Impossible Burger in bulk format of 2.26 kg
Economy
Saudi non-oil private sector grows fastest in seven years in September: IHS
There has been a sharp growth in Saudi Arabia’s non-oil private sector in September, the fastest in seven years, according...
- The relaxation of the regulations boosted customer demand, the latest IHS Markit report said, helping businesses expand their output
- The seasonally adjusted Purchasing Managers’ Index (PMI) surged to 58.6 in September from 54.1 in August
Dubai Investments net rises to $157m
Real estate sector remains one of the key business verticals.
Business
Company News
Ghitha Q2 profit $21.95 million
Business
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e& HI profit up 2.5%
Business
Chimera Capital unveils new ETF
Business
Qatar’s United Development Company and CBQ sign home loan deal
Doha, Qatar - The United Development Company (UDC), a Qatari public shareholding company, signed a deal with The Commercial Bank...
Business
Muscat Stock Exchange trading value up 5.5 percent in a week
Muscat, Oman - The value of trading on the Muscat Stock Exchange increased last week to 9.6 million Omani riyals...
Business
Saudi NDF pumped $7.45 billion into Covid relief measures
Riyadh, Saudi Arabia— The National Development Fund (NDF) of Saudi Arabia has since March 2020 financed SAR28 billion ($7.45 billion)...
Economy
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Arts & Culture
Grand celebrations announced to mark 92nd Saudi National Day
Riyadh, Saudi Arabia—From Sept 18-26, Saudi Arabia will be hosting grand celebrations to mark the 92nd Saudi National Day. Chairman...
- Aerial and marine shows by jets, helicopters, civil airplanes, ships and boats will be organized under the theme "A Salute for the Homeland".
- The Ministry of Interior will hold "Events for the Pride of the Homeland", which includes musical shows by a military band, entertainment pavilions and virtual (AD1) theaters.
Business
UAE health ministry inks pact with Mediclinic Middle East
UAE Ministry of Health and Prevention (MoHAP) has signed a memorandum of cooperation (MoC) with Mediclinic Middle East to strengthen...
- UAE Ministry of Health and Mediclinic Middle East will cooperate in exchange of expertise and enhancing health research.
- Both entities will cooperate in organizing scientific conferences, training programs related to health research in the country.
Geostrategy
DEWA CEO briefs Utah House of Representatives delegation
MD & CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer met a delegation from the Unified...
- Speaker of Utah House of Representatives Brad Wilson led the delegation to the UAE.
- The delegation want to learn about DEWA’s innovative development projects in the water, renewable and clean energy sectors.