UAE to implement support scheme for low-income farm owners
DUBAI, UAE - The Ministry of Community Development and Etihad Water & Electricity have announced the implementation mechanism of the...
Geostrategy
Business
Azizi Developments records 263% hike in broker registrations
The developer has strengthened and expanded its broker relationships following the introduction of its revamped channel partner strategy
- The developer has strengthened and expanded its broker relationships following the introduction of its revamped channel partner strategy
- Higher commissions, weekly commission pay-outs, and rigorous broker training and assistance have contributed to the surge in registrations
Arts & Culture
Nawal El Zoghbi snubs award over Lebanon economic crisis
El Zoghbi, one of the most famous artistes in the Arab world, announced her decision on Twitter.
- The Murex d’Or award ceremony was about to take place on Wednesday at Beirut’s Casino du Liban
- Its organizers have now announced that it has been postponed because of the recent fuel tanker blast that killed several people
Business
Oman: Sohar Port increases production capacity by 14%
Production capacity touched 545,000 tons in the port’s free zone, where 45 countries have investments.
- The port posted a 168% increase in handling vessel-mounted mobile goods by the end of the second quarter
- However, it dealt with 2.3% fewer standard container units within the same duration
Etisalat UAE gets new CEO
Masood M Sharif Mahmood has 20 years of experience in the industry.
- Masood M Sharif Mahmood will report directly to the Etisalat Group CEO, a position currently held by Hatem Dowidar
- He currently serves on the boards of Yahsat, the UAE Space Agency, and the Etihad Aviation Group
Business
Khalid Al Qubaisi new ADES CEO
Al Qubaisi served as a VP at Mubadala Investment Company.
- ADES, a TAQA subsidiary, is responsible for retrofitting government and commercial buildings.
- TAQA expects the appointment shows its ambition to become a champion for low carbon power.
Geostrategy
Taliban declare ‘war is over’ in Afghanistan
Taliban on Sunday took control of capital Kabul as Afghan forces, trained for years and equipped by the US and...
- Kabul airport was flooded by hundreds of people desperate to leave the country and scuffles broke out after departures were halted.
- Taliban have said they don't want to live in isolation and call for international peace.
Business
Dubai property transactions up 50 percent in Q2: Report
Increased international interest has been a key factor in driving residential transactions to near-record levels. Dubai’s handling of Covid-19 pandemic...
- Residential transaction volume totaled 14,426 units, a rise of 35.48 percent from Q1 2021.
- Palm Jumeirah saw the highest increase in villa rents, at 3.9 percent Q-o-Q.
Business
BinDawood’s net profit down 50 percent for Q2
Taking a direct hit from the Covid restrictions, BinDawood, the Saudi supermarket retailer, has reported a 50 percent dip in...
- The retail supermarket said net profit in the quarter ended June 30 was 95 million riyals ($25.33 million),
- The second quarter of last year "benefited enormously from pantry-buying in response to lockdowns"
Business
Damac Properties posts $27.5m net loss
Damac Properties, the Dubai-based developer, posted a net loss of $27.5 percent for the second quarter as compared to the...
- Lower quantum of revenue recognition and product mix impacted adversely
- The better performance of the company has been attributed to improvement in the property market
Economy
Inflation in Saudi Arabia leaps to 0.4 percent in July
Owing to higher prices in the transport sector, Saudi Arabia's consumer price index rose 0.4% in July from a year...
- CPI rise stemmed from higher prices in the transport sector
- There was also an increase of 1.2 percent in food and beverages
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UAE to implement support scheme for low-income farm owners
DUBAI, UAE - The Ministry of Community Development and Etihad Water & Electricity have announced the implementation mechanism of the...
Geostrategy
Company News
Jeddah Season 2022 concludes, 6m visitors attend events
Arts & Culture
Latest News
Jordan approves 33 articles of new investment law so far
The Lower House held an evening session on Sunday, chaired by Speaker Abdul Karim Dughmi.
Economy
Dubai to host international museums conference in 2025
Dubai has officially begun its journey as the host of the 27th International Council of Museums (ICOM) General Conference 2025...
Arts & Culture
Most Read
Business
Saudi hosts preparatory meet for ITU’s conference in Bucharest
International delegates are meeting in Riyadh from August 28-31 to discuss the future of global digital communications ahead of International...
- The meet is hosted by Saudi Arabia’s digital regulator, the Communications & Information Technology Commission.
- Saudi Arabia is positioned to act as a convenor and mediator between the Arab world and the ITU’s 193 members to forge the best global digital policies.
Business
Saudi Arabia tops world with export of dates worth $322bn
Saudi Arabia harbors more than 33 million palm trees planted in more than 123,000 agricultural properties in 13 administrative regions,
- According to a report by the Ministry of Environment, Water and Agriculture (MEWA), Saudi Arabia's dates exports amounted to $322 billion
- The kingdom produces nearly 154 million tons of dates annually
Business
Alhokair trims H1 loss by 49%
It cut down the loss to $18m from $35.39m posted last year.
- The hospitality group recorded a 6.4 percent rise in revenue to $93.66 million that helped bring down the group's loss
- Alhokair saw growth across its different units during the six-month period, recording higher revenue from the hotel and entertainment sectors