Louvre Abu Dhabi displays new collection of artworks from across the world
ABU DHABI, UAE – The Louvre Abu Dhabi has displayed new acquisitions including three artworks by Pablo Picasso alongside loans...
Arts & Culture
UAE says 79,000 Emiratis working in private sector
DUBAI, UAE - Around 79,000 UAE nationals are working in the private sector, the Ministry of Human Resources and Emiratization...
Business
Business
flydubai signs pact with Saudi company
The Saudi company will undertake ground handling services for flydubai.
- The AED 100m agreement has been signed for five years.
- flydubai said the agreement reflects the longstanding relations between it and Saudi partners.
Business
Al Salam Bank buys back shares
The bank has bought 320,664 shares on DFM and Bahrain Bourse.
- The bank has bought 320,664 shares on Dubai Financial Market and Bahrain Bourse
- The move increases the total holding of treasury shares from 110,779,910 to 111,100,574
Business
UAE outperforms ten global tourism destinations in H1
The emirates achieves hotel occupancy rate of 62 percent, ahead of the US, UK and Turkey
- Hotel revenues grew by 31 percent to reach AED11.3 billion.
- Domestic tourism accounted for 30 percent of the total number of guests at hotels.
Business
NBF starts e-trading platform
NBFX will help customers digitally hedge their treasury requirements.
- The new platform is available for both conventional and Shariah-compliant banking customers on a 24/5 basis
- Customers will be able to execute transactions during and beyond the bank’s working hours and benefit from liquidity across all time zones
Business
Most of $3.8bn remittances to the Philippines in July came from Middle East
Filipinos living overseas have sent back some $3.8 billion in July with most of the remittances coming from the Middle...
- Central bank figures show personal remittances from overseas Filipinos reaching $3.18 billion in July
- Saudi Arabia was the third-biggest source of these money transfers, while Qatar and the UAE were also in the top 10
Business
Huawei to invest $15m in Middle East to widen cloud services market
Huawei, the Chinese tech giant, will invest $15 million across the Middle East during the next three years in order...
- The new investment includes $7.6 million being allocated for partner development, more than $2.5 million to be put behind credits and other cloud resources
- Chinese tech giant looks to groom SMEs to use cloud computing services
Business
Gargash Group buys out Deem Finance for unknown sum
Gargash Goup, the UAE-based conglomerate, has bought out Deem Finance, the financial services provider, for an undisclosed sum. The conglomerate...
- Firm looks to enhance its offerings in financial services sector
- Deem Finance offers credit cards, personal loans and wholesale deposit products to UAE corporate clients
Business
AD Ports to set up state-of-the-art cruise terminal in Jordan
AD Ports Group will set up a state-of-the-art cruise terminal at Marsa Zayed in Aqaba, Jordan, after the signing of...
- It will be the first facility to be developed by AD Ports Group in Jordan and its first cruise facility outside of the United Arab Emirates
- The new terminal will serve as a gateway in the Port of Aqaba
Investigation
Money laundering rose during Covid-19 pandemic, says UAE Central Bank
The Central Bank of the United Arab Emirates has disclosed that there has been an increase in the laundering of...
- Report also cites fraud, bribery, corruption, charity and disaster fraud as risks to financial institution
- The report also identified the methods of mitigation, identification and resolution implemented by selected financial institutions to address such risks
Business
Aramco, McDermott eye onshore modular construction
Saudi Arabia is aiming to give a boost to local industries and in this regard Aramco and McDermott, the US-based...
- Modular construction is a process where a building is constructed off site before being transported and assembled at a final location
- The two companies will use McDermott’s Saudi Arabia Fabrication in Ras Al-Khair (SAFIRA) facility to conduct the feasibility study
Louvre Abu Dhabi displays new collection of artworks from across the world
ABU DHABI, UAE – The Louvre Abu Dhabi has displayed new acquisitions including three artworks by Pablo Picasso alongside loans...
Arts & Culture
Company News
Latest News
Ataa acquires Saudi firm Naba’a
Business
Qatar private sector exports up 21 percent in second quarter: Chamber
Qatar’s private sector exports during the second quarter of 2022 amounted to QAR 8.92 billion ($2.44 billion), a 21 percent...
Economy
Costa Rica-UAE bilateral trade up by 292 percent since 2017: Minister
Abu Dhabi, UAE--Costa Rica's foreign minister Arnoldo Andre has said that the trade between his country and the UAE has...
Business
27,100 new companies join Dubai Chamber of Commerce till Aug 2022
Dubai, UAE-- More than 27,100 companies have joined as new members of the Dubai Chamber of Commerce in the first eight...
Business
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Business
Gulf International Bank continues partnership with Beehive
The strategic partnership, which initially began in 2020, brought to market a new digital GIB financing platform to ensure swift...
- The strategic partnership, which initially began in 2020, brought to market a new digital GIB financing platform to ensure swift and efficient access to finance
- The platform is fully digital and includes a sophisticated online decision making and lending process to provide faster and more accessible financing
Jordan king discusses ties with US congressional delegation
The meeting, attended by Crown Prince Al Hussein bin Abdullah II, covered bilateral ties and the strategic partnership between Jordan...
- The meeting, attended by Crown Prince Al Hussein bin Abdullah II, covered bilateral ties and the strategic partnership between Jordan and the United States
- The US lawmakers stressed the United States’ keenness to bolster cooperation with the Kingdom and to continue supporting it
Business
Siemens bags Egypt project
The company will upgrade power distribution system in Alexandria.
- Implementing advanced software solutions and automation devices will help Alexandria Electricity Distribution Company increase efficiency.
- A total of 300,000 smart meters will be supplied, including the necessary hardware and software to establish an advanced metering infrastructure.