Jewels of Emirates continues to attract visitors on third day
SHARJAH, UAE- The fourth edition of Jewels of Emirates Show at the Expo Center Sharjah has so far seen record...
Business
Saudi merchandize exports down 14.6% in Q1 as oil exports fall
Riyadh, Saudi Arabia -- Saudi Arabia's merchandize exports decreased by 14.6 percent in Q1 2023, compared to Q1 2022, a...
Economy
Business
Qatar Tourism and Clia announce partnership
The partnership should help Qatar broaden its appeal for visitors ahead of and beyond the 2022 Fifa World Cup.
- Qatar welcomed 207,000 cruise visitors to Doha in 2019-20
- It reopened its borders on July 12 to fully-vaccinated international travelers, and is expecting tourism to pick up
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
Jewels of Emirates continues to attract visitors on third day
SHARJAH, UAE- The fourth edition of Jewels of Emirates Show at the Expo Center Sharjah has so far seen record...
Business
Company News
Latest News
Saudi-Thai Business Council set up to enhance trade
The Federation of Saudi Chambers announced Monday the establishment of a joint Saudi-Thai Business Council.
Business
State Grid Corporation of China opens first office in UAE
Dubai, UAE: State Grid Corporation of China (SGCC), the largest utility company in the world, has expanded its presence in...
Business
UAE launches net-zero drive for firms
The Ministry of Climate Change and Environment (MoCCAE) Monday launched the UAE Climate-Responsible Companies Pledge. The pledge aims to increase...
Business
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Economy
EU plans emergency action to halt energy price rise
High gas prices have been followed by disruptions in the nuclear and hydroelectric sectors amid a heatwave blamed on climate...
- The European Commission has yet to publish a detailed plan for market reform, but some member states have been pushing for a temporary cap on wholesale gas prices.
- EU officials are also considering measures to split electricity price setting from the gas price and take into account other energy sources.
Business
Saudi to host second Global Artificial Intelligence Summit in Sept
Riyadh, Saudi Arabia: Riyadh will host the second edition of the Global Artificial Intelligence Summit from 13 to 15 September,...
- AI is expected to boost global gross domestic product (GDP) by 14 percent by 2030, or nearly $15 trillion.
- The summit includes more than 100 sessions in which more than 200 speakers will participate, working with more than 3,000 participants.
Business
CBUAE launches new website with various services
The Central Bank of the UAE (CBUAE) has announced the launch of a new corporate website with various interactive digital...
- The Central Bank of the UAE has launched the corporate website with various interactive digital services for meeting the aspirations of the consumers.
- The CBUAE plans to be among the top central banks globally in promoting financial stability.