Arab-Indian Chamber of Commerce to be unveiled soon
NEW DELHI, INDIA - A Joint Arab-Indian Chamber of Commerce is to be “activated” soon. This was announced in the...
Business
Business
Agthia to pay $17.8m in H1 dividend
The Abu Dhabi-listed company will pay AED 65.31 million cash dividend.
- The company’s total revenues grew 21 percent year-on-year to 1.32 billion dirhams in the first six months of 2021.
- The dividend marks the first interim pay-out of the firm.
Business
MidChains finishes first trades of assets
Abu Dhabi-based virtual asset trading platform has traded in Bitcoin, Ethereum, Litecoin, etc.
- MidChains has confirmed trades across Bitcoin, Ethereum, Litecoin and Bitcoin Cash and is the first regulated platform in the UAE to have conducted trades across all these virtual
- MidChains is the first and only fully-regulated virtual asset trading platform to receive sovereign wealth fund backing in the region
Business
Abu Dhabi, Pakistan discuss boosting business ties
The chamber is ready to offer all the services required to help Pakistani businesses and entrepreneurs in Abu Dhabi.
- Mohamed Helal Al Mheiri, Director-General of Abu Dhabi Chamber of Commerce and Industry, represented the emirate
- Afzaal Mahmood, Pakistan's Ambassador to the UAE, represented his country at the discussion
Business
Dubai ups housing loan limit for UAE citizens to $272,000
The ruler of Dubai, and vice president and prime minister of the United Arab Emirates, Sheikh Mohammed bin Rashid Al...
- The government is also set to allocate thousands of plots of land and housing for Emiratis at a cost of 5.2 billion dirhams
- “Today, we approved raising the value of the housing loan for citizens in Dubai to one million dirhams,” Sheikh Mohammed tweeted
Geostrategy
Lebanon reaches out to Arab countries
Lebanese Prime Minister has confirmed that his country has reached out to Arab and Gulf nations for help, but the...
- Lebanon Prime Minister Najib Mikati has said his country has reached out to Arab nations
- However, there is no set date when a Lebanese delegation may visit them for help
Business
Turkish discovery of gas in Black Sea to raise EU production capacity by 25%
Following the discovery of gas by Turkey in the Black Sea, the European Union's gas production capacity is likely to...
- The natural gas field will provide nearly a third of Turkey’s domestic needs by 2027
- The initial production from the new field will be 3.5 billion cubic meters of gas annually starting from 2023
Economy
Cyber-pandemic quickened UAE digital push
Mohamed Hamad Al Kuwaiti has said the UAE is fully equipped to transition into AI for governance and economy.
- The UAE has attained high ranks in many global cybersecurity indexes
- Moving into an AI government and economy involves sector-wise perspectives
Business
Dubai Customs clears AED948m worth of goods to be exhibited at EXPO
Days before the EXPO2020 kicks off, Dubai Customs has cleared goods worth AED948 million that will be exhibited at the...
- Exhibitors to obtain permits and licenses can use Dubai Trade Portal
- Countries participating in EXPO 2020 are exempted of registration fees, and exhibitors’ documents will have unique codes for preferential and speedy clearance
Business
Dubai Chamber initiative focuses on West Africa
The initiative, called Why Africa, will also look at the region’s key economic indicators and competitive advantages.
- The initiative, called Why Africa, comprises in-depth analyses conducted by Dubai Chamber
- It is based on recent data from UNCTAD, up-to-date insights for prospective investors, and recent trade trends
Business
Shuaa Capital of UAE to hand over $2.7bn London property projects at year’s end
Shuaa Capital, the United Arab Emirates (UAE) based company, has said that it intends to fully complete and deliver the...
- Shuaa Capital, which has $14 billion in assets under management, said in a statement to the Dubai Financial Market where its stock trades, that Northacre is currently focused on c
- Following its merger with Abu Dhabi Financial Group (ADFG) in 2019, Shuaa Capital has expanded its real estate business
Arab-Indian Chamber of Commerce to be unveiled soon
NEW DELHI, INDIA - A Joint Arab-Indian Chamber of Commerce is to be “activated” soon. This was announced in the...
Business
Company News
FAB profit up 50 percent
Business
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DP World signs two deals
Business
ENEC shares expertise at cyber energy leadership forum
The Emirates Nuclear Energy Corporation (ENEC) hosted the first edition of the CyberEnergy Leadership Forum (CELF) in Abu Dhabi. Over...
Geostrategy
Response Plus enters Indian market
The company will establish its Indian headquarters in Kerala state.
Business
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Economy
Saudi Consumer Price Index rises by 3% in August: GASTAT
General Authority for Statistics said the main drivers of CPI inflation were the higher prices of food & beverages and...
- In August 2022, the Wholesale Price Index increased by 5.6 percent compared to the same month in 2021, but down from 6.8 percent in July 2022.
- The increase resulted mainly from the increase in metal products, machinery and equipment prices that have a relatively high weight in the index.
Economy
Saudi Arabia: AI Algorithms to help crowd management at Holy Sites
The Saudi Ministry of Interior and the Saudi Data and Artificial Intelligence Authority (SDAIA) have announced a strategic partnership for...
- The Saudi Ministry of Interior and the Saudi Data and Artificial Intelligence Authority have announced a strategic partnership for the purpose
- Efforts are on to increase the capacity to receive visitors and pilgrims, in line with the targets of the Kingdom’s Vision 2030
Business
Saudi Arabia to enhance wheat storage capacity
Saudi Arabia is looking to enhance wheat storage capacity in the kingdom by building new silos. Once it is done...
- At present, Saudi Arabia’s wheat storage capacity amounts to 3.5 million tons, distributed across 14 branches in the kingdom
- A project to construct silos in NEOM city has also been awarded to enhance the kingdom’s storage capacity.