UAE, Turkish presidents discuss bilateral, economic relations in Istanbul
ISTANBUL, TURKEY - UAE President Sheikh Mohamed bin Zayed Al Nahyan arrived here on Saturday for a working visit and...
Geostrategy
GCC, US vow to work jointly for regional stability
The strategic partnerships between the two sides seek to focus on peace, security, stability, integration, and economic prosperity in the...
Geostrategy
Business
Egypt’s exports vault 22 percent to $17.70bn
 Egypt’s non-oil exports leaped up by 22 percent during the first seven months of 2021, posting $17.70 billion as compared...
- In July 2021, Egyptian non-petroleum exports rose by 4% to $2.95 billion, from $2.21 billion in July 2020
- The non-petroleum imports increased slightly by 11% to $42.39 billion during the seven-month period ended July 31st, 2021
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.
UAE, Turkish presidents discuss bilateral, economic relations in Istanbul
ISTANBUL, TURKEY - UAE President Sheikh Mohamed bin Zayed Al Nahyan arrived here on Saturday for a working visit and...
Geostrategy
Company News
Latest News
UBS partners with Qatar for green project in Gulf country
Qatar Financial Center Authority and UBS Asset Management will collaborate to set up a green sustainable private markets initiative in...
Business
Saudi Central Bank updates its Regulatory Sandbox Framework
The bank took this step to promote the Regulatory Sandbox's involvement in the Financial Sector Development Program (FSDP), one of...
Business
Most Read
Science
New type of proton aurora around Mars observed by UAE mission
Dubai, UAE: The Emirates Mars Mission, the first interplanetary exploration undertaken by an Arab nation, has made first observations of...
- The spatially variable ‘patchy’ proton aurora potentially triggers new insights into unexpected behaviors in the Martian atmosphere.
- This new patchy type of proton aurora is formed when the solar wind directly impacts Mars’ dayside upper atmosphere and emits ultraviolet light as it slows down.
Business
Ashok Leyland bags 1,400-bus order
This is the company's biggest UAE order for school buses.
- The 55-seater Falcon bus and 32-seater Oyster bus - will be supplied from Ashok Leyland’s $50 million manufacturing facility in Ras Al Khaimah.
- Most of the supplies will be made to Emirates Transport and STS Group, a statement from the company said.
Arts & Culture
Qatar’s Museum of Islamic Art to reopen on October 5
One of the world's premier institutions of Islamic art, the MIA will re-open in time for the influx of visitors...
- One of the world's premier institutions of Islamic art, the MIA will re-open in time for the influx of visitors to Doha for the FIFA World Cup Qatar 2022
- More than 1,000 objects many newly conserved or acquired will be displayed in the museum's permanent galleries