SPC Free Zone to provide licenses within 45 minutes
SHARJAH, UAE - Sharjah Publishing City Free Zone (SPC Free Zone) has announced an expedited business setup process, allowing businesses...
Business
Business
Visa signs MoU with AMF
They will explore ways to boost cross-border payments.
- Visa and AMF’s regional payment platform will design optimal solutions to unlock sustainable opportunities in payment industry.
- Visa said the MoU reinforces its commitment to support the evolution of the Arab region and the vital role digital payments plays in this sphere.
Business
Emirates allows Beirut travelers 10kg extra baggage
Emirates said it had last year set up a humanitarian airbridge with Lebanon, dedicating flights to deliver much needed emergency...
- Increase in allowance to help people carry medical and other goods to Lebanon.
- Shortage of supplies has hit Lebanon, which is undergoing one of the worst economic crises in history.
Business
Iran to sell more electricity to Pakistan
Iran at the moment has electricity exchange with Armenia, Azerbaijan, Iraq, Turkmenistan, and Afghanistan.
- Pakistan is all set to increase its electricity import from Iran to 70 MW
- It will use this power at its under-development Gwadar port
Business
UAE residents got $91.4 billion in personal loans
Gross credit, which includes which includes loans to residents and non-residents and non-banking financial institutions up by 0.9 percent compared...
- The country's banking sector’s assets reached AED 3.2 trillion in June 2021, up by 0.6 percent compared to a year earlier.
- Total deposits also went up by 2.3 percent to AED 1.9 trillion during the same period.
Oman Shell updates SME training
The new program will build the capabilities of entrepreneurs.
- Oman Shell has designed the program to ensure that it aligns with Shell’s social investment strategy and Oman Vision 2040
- It takes into consideration the aspirations of its partners and entrepreneurs, while empowering entrepreneurs and Omani businesses
Business
UAE banks flush with profit again with improved Q2 performance
The top ten lenders of the United Arab Emirates have shown a health rebound in profitability, with the country’s banking...
- Return on Equity (RoE) was back at Q4 2019-levels and loans and advances (L&A) showed improvement, according to a report from Alvarez & Marsal (A&M)
- Aggregate RoE improved from 9.8 percent in Q1 2021 to 10.9 percent in Q2021, for the first time in the last five quarters, as net income increased 11.5 percent
Etihad arm to convert Boeings
Etihad Engineering will provide passenger-to-freighter conversions.
- Etihad Engineering will use its expertise and capabilities for the specialized Boeing 777-300ERSF conversion
- It will initially facilitate two conversion lines to accommodate multiple aircraft conversions per year
Qatar Petroleum begins expansion
It has awarded an contract to Madrid-based Técnicas Reunidas.
- The expanded facilities will be utilized to handle liquid products from the four new LNG trains comprising the North Field East project
- The facilities will also reportedly support two new LNG trains comprising the North Field South project
Geostrategy
Biden given inconclusive report on COVID-19 origins
The US president had ordered the assessment to find out whether the virus jumped to humans via animals or escaped...
- Parts of the report could be declassified in the coming days, US officials tell media.
- The debate over the origins of the virus that has killed more than four million people has become increasingly contentious.
Business
Women-only business package introduced in Masdar
Masdar City Free Zone offers opportunities for UAE women who constitute 70 percent of UAE university graduates and are also...
- The announcement comes ahead of Emirati Women’s Day on Aug. 28.
- A team of experts are available to assist aspiring women entrepreneurs.
Company News
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GFH acquires housing portfolio
Business
Reforms crucial to revive pandemic-hit culture sector
Arts & Culture
Aldar acquires Spark Security
Spark Security Services employs over 5,000 security professionals.
Business
Jordan PM refers to shared views in meeting with Kuwaiti minister
Prime Minister of Jordan Dr. Bisher Khasawneh met Kuwaiti Minister of Information and Culture Abdul Rahman Al-Mutairi, who is in...
Geostrategy
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Business
Dubai records weeklong real estate transactions worth $2 billion
Dubai, UAE--Dubai's real estate market recorded a total of 2.593 transactions worth AED7.4 billion ($2 billion) during the week ending...
- The statistics showed that 320 plots were sold for AED1.75 billion, and 1,720 apartments and villas were sold for AED3.55 billion.
- The top three transactions were land in Saih Shuaib 3 that was sold for AED168 million, land for AED115 million in Island 2, and land sold for AED78 million Saih Shuaib 4.
Business
UAE Innovates Month: 19 Dubai Customs innovations win awards
Dubai, UAE--The number of innovations at Dubai Customs have been significantly increasing, as shown by the department's Innovation League, which...
- Nineteen of the innovations won team awards, three at the department level and one champion of the Innovation League.
- Innovation League is Innovation Centre's leading initiative to stimulate and encourage competition between departments and employees to develop more innovations.
Geostrategy
UAE, India FMs stress close ties at Joint Committee meeting
The UAE top diplomat said that the ongoing dialogue between the two countries has led to the launch of the...
- The UAE top diplomat said that the ongoing dialogue between the two countries has led to the launch of the CSP in 2017, and the signing of the CEPA in 2022.
- Sheikh Abdullah noted that the UAE is the second largest destination and source for Indian exports and imports