RAKEZ highlights Ras Al Khaimah’s potential to Chinese business owners
RAS AL KHAIMAH, UAE - A top-level delegation from Ras Al Khaimah Economic Zone (RAKEZ) recently concluded its trip to...
Business
SCCI discusses trade with Guatemalan, Indonesian delegations
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has discussed strengthening trade and economic ties with diplomatic...
Geostrategy
L’Oréal ME sales up 750% since 2018
The growth was driven by a partnership with CNNB Solutions.
- L’Oréal Middle East entered into a D2C e-commerce and e-distribution partnership with Dubai-headquartered CNNB Solutions
- CNNB developed a set of services, which include a model where it Solutions buys inventory from L’Oréal ME
Business
Empower buys 19 plants for $234m
Empower will as a result acquire all the assets of these systems.
- Empower is expected to manage and operate the plants, carrying out all of their activities, functions, operations, and obligations
- These plants have a total cooling capacity of 110,000 refrigeration tons
Business
ADIB launches Islamic digital bank for children
Called Amwali, this digital bank is expected to serve those between the ages of eight and 18.
- The banking solution is designed to empower young customers with a dedicated digital banking experience
- However, young account-holders may conduct transactions only under parental control
Business
Dubai’s Alcazar bought out for $500m by China
Dubai’s Alcazar Energy Partners, a wind and solar developer, has been bought out by the state-owned Chinese company Three Gorges...
- AEP is a leading independent developer and power producer, headquartered in the Dubai International Financial Centre
- AEP's investors include Mubadala Infrastructure Partners, BluStone Management and DASH Ventures, IFC, a member of the World Bank Group, and IFC’s Catalyst Funds
Business
Majid Al Futtaim’s H1 revenue dips 10 percent
Majid Al Futtaim, a shopping mall operator in the Middle East, has reported a drop in revenues for the first...
- Mall operator maintains its H1 2021 performance remained robust
- Revenues for the period reached 15.6 billion UAE dirhams ($4.2 billion), down by 10 percent from a year earlier
Business
UAE hotel occupancy leaps up as tourists return
In a sign of normalcy returning, hotels across the United Arab Emirates (UAE) have reported a significant rise in occupancy...
- From January to June, overall occupancy climbed to 62 percent compared to 53.6 percent during the same period in 2020
- International, domestic tourism boost occupancy levels
Business
$24bn deals signed at Fifth China-Arab States Expo
Eight Chinese provinces and cities, including Beijing, Tianjin, Zhejiang, Henan, and Guangdong, have signed 12 investment projects with Arab countries...
- A total of 287 deals worth about $28.56 billion were signed at the Fourth China-Arab States Expo.
- More than 1,000 domestic and overseas enterprises have registered as exhibitors this year.
Business
Saudi defense sector opens up for investment
Saudi Arabia has opened up its defense sector for local and international companies to invest in, and in this direction...
- GAMI launched digital marketplace platform offering investors easy access to local suppliers
- Saudi Arabia’s General Authority for Military Industries GAMI has identified 74 investment opportunities, across six domains of the military industries sector
Business
Aldar launches Yas Acres Magnolias
The community consists of 312 properties available for purchase from September 4.
- The gated community consists of 312 villas and townhouses available for purchase from Sept. 4.
- Each unit has fixtures that reduce water and energy consumption, the company said.
Business
Court to help UAE combat financial crimes established
DUBAI: A court has been set up in the United Arab Emirates with a focus on combating money laundering, Dubai...
- UAE had earlier established the Executive Office of the Anti-Money Laundering & Countering the Financing of Terrorism.
- The new court will reinforce UAE’s compliance with international anti-money laundering and law-enforcement standards, says Judge Dr. Abdullah Al Shamsi.
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RAKEZ highlights Ras Al Khaimah’s potential to Chinese business owners
RAS AL KHAIMAH, UAE - A top-level delegation from Ras Al Khaimah Economic Zone (RAKEZ) recently concluded its trip to...
Business
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Amazon Web Services unveils the AWS Middle East (UAE) region
Abu Dhabi, UAE - Amazon Web Services (AWS) announced Tuesday the launch of its second Region in the Middle East,...
Business
DMCC welcomes 15 companies for training program
Dubai Multi Commodities Centre (DMCC), the Government of Dubai Authority on commodities trade and enterprise, has announced that 15 companies...
Business
Museum of the Future’s online store creates global connections
Dubai, UAE - The Museum of the Future has been connecting with people globally through its online store, offering memorabilia...
Business
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Business
DEWA ranks as 3rd most valuable utility brand in Middle East
Dubai Electricity and Water Authority (DEWA) has been ranked the third most valuable utility brand in the Middle East and...
- Dubai Electricity and Water Authority has been ranked the third fastest growing brand in the UAE
- The report said that the remarkable success of DEWA's IPO in H1 2022 was also due to the strength of the utility's brand
Business
Hub71 picks latest cohort of tech startups from nine countries
Hub71, Abu Dhabi's global tech ecosystem, has selected its latest cohort of tech startups from a large number of applicants...
- The startups range from FinTech, HealthTech and CleanTech to EdTech, FoodTech and Logistics.
- They will benefit from equity-free incentives worth up to $136,000)and access to enabling programmes and an ecosystem of active investors.
Geostrategy
Iraq, Kuwait, US conduct joint patrol in Arabian Gulf
Ships from the Iraq Navy, Kuwait Naval Force, Kuwait Coast Guard, US Navy, and US Coast Guard participated in maneuvering...
- Ships from the Iraq Navy, Kuwait Naval Force, Kuwait Coast Guard, US Navy, and US Coast Guard participated in maneuvering exercises and maritime security drills
- US ships included patrol coastal ship USS Sirocco (PC 6) and fast response cutter USCGC Charles Moulthrope (WPC 1141)