Qatar Industrial Production index up 2.8 percent in April
DOHA, QATAR- The Industrial Production index (IPI) of Qatar for April 2023 reached 106.4 points which is an increase of...
Economy
Business
Drydocks World develops ‘South Yard’
The latest project is aimed at increasing the company’s fabrication capacity.
- The firm is building a dedicated facility for new building projects comprising 70,000 sq.m. area
- The world-class yard will feature cutting-edge equipment, a much leaner execution process and a facility for heavy structures
Business
Etisalat’s SmartHub centres grow
SmartHub has become a key element of the digital infrastructure in the region.
- Etisalat’s SmartHub data centres act as an ICT bridge between continents, always supporting critical business activities of global customers
- SmartHub seeks to be a preferred location for carriers, cloud service providers, Internet exchanges and companies looking for a carrier grade data centres
Science
Abu Dhabi Stem Cells Center to hire 1,000 citizens in 5 years
The Abu Dhabi Stem Cells Center will hire 1,000 citizens during the next five years in medical and administrative roles,...
- The program will assist private sector institutions in supporting the "The Projects of the 50" initiative on a national level
- The center also declared its plan to enlarge the scope of its program to attract and develop Emirati talent
Economy
Dubai expected to record 3.1% economic growth in 2021
Dubai’s economy would grow by a further 3.4 percent in 2022, ‘spurred by the hosting of Expo 2020’.
- Dubai’s economy had seen a growth of 1 percent during Q1 2021, compared to Q4 2020
- This signaled that the emirate’s economy was on the path to recovery, said Dubai’s Department of Economic Development
Business
Mrs Bectors subsidiary comes up in UAE
The new company, Mrs Bectors Food International, was incorporated on September 14.
- Mrs Bectors Food Specialities Limited was incorporated as Quaker Cremica Foods Private Limited on September 15, 1995
- Following the termination of a JV agreement, the company was renamed Mrs Bectors Food Specialities Private Limited
Videos
What to Expect at Expo 2020 Dubai?
Expo 2020 Dubai is the first world expo in the Middle East, Africa, and South Asia region.
- The theme of the six-month event is Connecting Minds, Creating the Future
- It covers three sub-themes: Sustainability, Opportunity, and Mobility
Business
Natural Gas Distribution all set to list and trade on Nomu
The listing and trading of shares of Natural Gas Distribution on Nomu will start on September 22, as a direct...
- Daily price fluctuation limits will be +/- 30 percent and static price fluctuation limits will be +/- 10 percent
- The trading of shares will begin on September 22
Business
UAE to become major player in emerging blue hydrogen market: ADNOC CEO
The United Arab Emirates will become a major player in emerging blue hydrogen market, according to the CEO of the...
- The UAE is strengthening its position as a regional leader in natural gas and the emerging blue hydrogen market
- "Today, gas provides almost one-quarter of the world’s energy supply and will continue to play a critical role in the global energy system"
Business
Kuwait Touristic to raise capital to $996m to boost tourism
Kuwait is looking to revitalize its tourism industry, and in this regard Kuwait Touristic Enterprises plans to increase its capital...
- “Our vision is to bring back the golden age of tourism in Kuwait"
- The company plans to execute 95 initiatives and projects costing 380 million dinars over 10 years
Business
SNOC to meet Sharjah’s gas needs amid rising power demand
Gas will be sourced from SNOC's own resources and ADNOC imports.
- In 2019 SNOC and ADNOC signed an interim contract to close the gas supply gap with SEWA.
- Sharjah has also begun to develop its own resources of gas.
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Company News
Ataa acquires Saudi firm Naba’a
Business
Latest News
EITC posts 26% jump in profit
Business
UAE, Serbian Presidents discuss bilateral relations
UAE President Sheikh Mohamed bin Zayed Al Nahyan discussed with Aleksandar Vucic, President of Serbia, cooperation between their countries and...
Geostrategy
Dubai’s RTA releases Sustainability Report 2021
Dubai's Roads and Transport Authority (RTA) has published its seventh Sustainability Report 2021. The report showcases RTA's practices in matters...
Economy
EU commercial flights surge 25 percent in August 2022
Brussels, Belgium - The number of commercial flights in August 2022 in the EU increased 25 percent compared to August...
Business
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Business
DEWA plans cash dividend for H1
Firm plans to give cash dividend of US$844m.
- DEWA's first general assembly meeting will be held physically and virtually on October 10, 2022.
- The assembly will vote on the recommendation of Board of Directors concerning a cash dividend distribution for H1 2022.
Arts & Culture
Kuwaiti Camel Racing Club sports season 2022-23 begins
Kuwait--Activities of the local sports season of the Kuwait Camel Racing Club for 2022-2023 season begun on Saturday at Sheikh...
- Nine runs were held on the first day of the season that will last for seven months.
- More than 300 participants of all ages participated in Saturday's race, which contributed towards increasing the number of camels in the event. the organizers said.
Business
Saudi PIF to come out with a debut green bonds issue
Saudi Arabia’s Public Investment Fund (PIF), the sovereign wealth fund at the heart of the kingdom’s reform plans to wean...
- According to media reports, PIF has set up a financing framework that would allow it to raise green bonds
- PIF started raising bank debt in 2018 with an $11 billion facility, followed in 2019 by a $10 billion loan which it then repaid in 2020