UAE, Pakistan discuss ways to enhance mutual trade, investment
The UAE accounts for over 40% of Pakistan's trade with Arab countries, with non-oil exports from the UAE to Pakistan...
Business
JCC discusses trade, commerce in economic summit in France
AMMAN, JORDAN - The Jordan Chamber of Commerce (JCC) took part in the fourth Arab-French Economic Summit 2023 in Paris....
Business
Oil-producing countries postpone decision on output increase
UAE objects to extending of cuts to the end of 2022 as it seeks to grow production Members consider whether...
Saudi Arabia begins survey of ancient stone structures in northern region
Saudi Arabia has started a broad archaeological survey of ancient stone structures in the Northern Borders and Al-Jawf regions Its...
Saudi scientists testing a new technique to freeze carbon emissions
New testing is about half the cost of existing carbon capture techniques The cryogenic technology hopes to capture up to...
Citi’s revenue “nearly triples” in Saudi Arabia
Citigroup’s corporate and investment banking revenue nearly tripled in Saudi Arabia The group had returned to the kingdom three years...
Sharjah Police arrest 6 for smuggling drugs worth $9.5 million
Sharjah Police’s Anti-Narcotics Department recently seized 215 kg drugs with a market value AED35 million ($9.53 million) The cops seized...
TikTok users can now post videos up to 3 minutes
Option to post longer videos will roll out in the coming weeks TikTok has more than 1 billion users worldwide;...
Travelport agencies won’t have to pay Emirates’ GDS surcharge
Emirates NDC content will be distributed via Travelport+ platform GDS booking surcharge ranges between $14 and $25 Travel agencies connected...
UAE starts issuing work permits for Golden Residency holders
The Golden Residency program is a long-term residence visa the UAE started in 2019 for foreign nationals who want to...
Yemen gets $150-million World Bank aid for food, water, healthcare
Yemen is plagued by conflict that started with Houthi insurgence Some 80 percent of Yemenis are dependent on aid To...
Austria to welcome more GCC travelers from July 1
Austria will open border for tourists from all across the world, including GCC, from July 1 The move comes as...
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
UAE, Pakistan discuss ways to enhance mutual trade, investment
The UAE accounts for over 40% of Pakistan's trade with Arab countries, with non-oil exports from the UAE to Pakistan...
Business
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Egypt to issue international bonds worth $6 billion
More than a year after it issued bonds for the Japanese market, Egypt intends to issue another tranche of international...
Economy
Sharjah unveils ‘Holiday Homes Project’ to boost economy
The first phase of the project includes organizing field visits and inspection campaigns, as well as electronic or digital follow-up...
Business
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Economy
Electronic payments overtake cash in Saudi Arabia in 2021
The Saudi Central Bank (SAMA) said a study revealed that electronic payments increased from 44 percent in 2019 to 62...
- The Saudi Central Bank said a study revealed that electronic payments increased from 44 percent in 2019 to 62 percent by volume in 2021
- In the business sector, the share of electronic payments reached a substantial 84 percent of all payments in 2021
Business
AD Ports Group Q2 net profit $81.67m
The year-on-year growth in net profit was 59 percent.
- Capex reached AED 1.6 billion, in line with the Group’s capital investment plans to spend more than AED 15 billion across all clusters over the 2022-26 period, the statement said.
- Container volumes grew by 30 percent YoY while Ro-Ro and cruise passenger volumes continued their healthy recovery post COVID-19 disruptions.
Business
NADEC records $11m profit
The jump in profit was driven by growth in sales of dairy.
- There was a 21 percent revenue increase due to a high growth in sales of dairy and food processing
- The company had posted losses of $2.9 million in the same period last year