Dubai Islamic Bank unveils digital banking services
Dubai, UAE - Dubai Islamic Bank launched DIB alt, a full-fledged digital umbrella brand to house all of the bank's...
Business
UAE exports to reach $544bn by 2030, says Standard Chartered report
DUBAI, UAE - The UAE is poised to play a pivotal role in global trade with its exports projected to...
Economy
Business
Consortium awarded exploration rights for Abu Dhabi’s Block 5
ABU DHABI: The Abu Dhabi National Oil Company (ADNOC) on Tuesday awarded exploration rights for Abu Dhabi’s Offshore Block 5...
- The consortium will hold a 100 percent stake in the exploration phase.
- ADNOC has the option to hold 60 percent stake in production phase of the concession.
Economy
Sports sector adds $1bn to Dubai economy each year
The growth in the sector is a result of the Dubai community’s increasing interest to participate in sports activities over...
- Around 1.5 million people regularly engage in sports and physical activities in the emirate, acccording to the Dubai Sports Council
- This has led to an increase in the number of national and international sporting events being hosted in Dubai
Business
HSBC offering Saudi’s first climate-focused investment fund
DUBAI: HSBC Saudi Arabia has said it is offering the first environmental initiative investment fund in the kingdom, which will...
- The fund will provide customers participation and direct access to investments that help reduce the impact of climate change.
- SABB’s Corporate & Private Banking clients among suitable clients in the kingdom.
Meydan taps Empower for cooling
Empower will also acquire the existing cooling plant in the area.
- The total capacity provided would be 382,000 RT
- It will serve the needs of 750 existing and upcoming buildings in the city
Arts & Culture
Black Eyed Peas book Oct date for Egypt concert
Events and entertainment company Venture Lifestyle ME is organizing the concert on October 2 in Giza.
- All four current members of the band are expected to perform at the event
- Tickets are already on sale on an online portal, ranging from $51 to $160 apiece
Economy
GDP of OECD economies up by 1.6 percent in Q2
Despite the rise in the GDP of the Organization for Economic Co-operation and Development (OECD) economies to 1.6 percent in...
- The UK recorded the strongest growth (4.8%) followed by Italy (2.7%)
- GDP also increased in the other Major Seven Economies, but to a lesser extent
Business
Bahrain mall eyes $159m expansion
The expansion work on The Avenues will be launched in Q3 2021.
- The expansion will add a leasable area of approximately 40,000 sq m to the shopping center
- The total gross leasable area will reportedly be approximately 77,500 sq m
Business
DEWA’s sustainability report out
It focuses on social, economic and environmental aspects.
- The 8th annual Sustainability Report 2020 focuses on DEWA’s efforts in promoting sustainability with its social, economic and environmental aspects
- The authority follows the best international practices as well as sustainable and integrated systems that ensure providing value-added services
Business
Jeddah Islamic Port ranks 37 on Lloyd’s list of 100
Jeddah Islamic Port, the largest in Saudi Arabia, has ranked 37 on Lloyd’s list of top 100 global ports in...
- The 2021 edition of Lloyd’s list of top 100 ports was recently published, measuring the annual container throughput volumes of global ports in 2020
- Jeddah Islamic Port had reported a growth of 6.8 percent in 2020, with volumes increasing to 4.7 million TEUs (twenty-foot equivalent unit) from 4.3 million TEUs in 2019
Husqvarna Construction gets new GM
With this, the company eyes growth in the MEA region.
- Jeff Bennett’s broader responsibilities include achieving rapid growth in emerging markets, and shaping the company future
- He is also expected to spearhead the organization’s efforts to arrive at a competitive position in the MEA region
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Dubai Islamic Bank unveils digital banking services
Dubai, UAE - Dubai Islamic Bank launched DIB alt, a full-fledged digital umbrella brand to house all of the bank's...
Business
Company News
Gulf countries witness dip in unemployment rates
Infographics
Latest News
UAE keen to work with global partners to address energy issues
A senior UAE official at the Ministry of Energy and Infrastructure said that his country is committed to collaborating with...
Geostrategy
Saudi Arabia eyes partnerships to accelerate growth of digital economy
Saudi IT Minister, Eng. Abdullah bin Amer Al-Swaha, held meetings with his counterparts from the other countries at the Indonesian...
Economy
Ajman Bank and Mastercard collaborate to launch Touch Card
Ajman Bank and Mastercard have partnered to launch Touch Card, a payment card that will allow blind and partially sighted...
Business
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Business
Market cap of Egypt’s bourse vaults by US$2.7bn in August
In spite of monetary policy tightening, Egypt has seen the market capitalization of its stock exchange vault by $2.7 billion...
- The market capitalization of listed companies’ shares grew 8.2 percent in August to $35.63 billion from $32.91 billion by July end
- The total value traded during the month reached $5.2 billion, with a total of 6.6 million securities executed
Economy
World food prices drop for fifth consecutive month: FAO
The latest Food Price Index shows that the prices of five commodities - cereals, vegetable oil, dairy, meat and sugar...
- The latest Food Price Index shows that the prices of five commodities - cereals, vegetable oil, dairy, meat and sugar - were lower in August than in July
- FAO said the decline in cereal prices reflected improved production prospects in North America and Russia
Business
TAQA to buy AlMansoori
The Saudi firm will buy UAE company for an unknown sum.
- The buyout is part of company's plan to expand TAQA’s Well Services business into the wider Middle East and North Africa region
- AMPS will add complementary products and services to TAQA’s portfolio, including Early Production Facilities, Well Testing, Slickline, and Marine Stimulation Vessels