UAE issues license for electric vertical takeoff and landing aircraft
DUBAI, UAE - The UAE Regulations Lab has issued a license for an electric cargo aircraft to promote eco-friendly transportation...
Business
Digitalization, sustainability top priorities of Middle East consumers
PwC Middle East claims consumers in the region value digitalization and sustainability the most 58% of Middle-East consumers say they...
Aramco awards East-West Pipeline compounds contract to special-purpose vehicle
Saudi Aramco has signed a deal for the construction of six residential compounds along the 1,200-km East-West pipeline The contract...
GE to develop Iraq’s power infrastructure, promote clean energy
GE will help Iraq develop power infrastructure It will also promote clean energy in the country General Electric (GE) will...
Rockwell Automation opens first training center in Egypt
Rockwell, a Fortune 500 company, recently acquired software provider Plex Systems Inc in an all-cash transaction that was valued at...
Saudi Arabia aims to be world’s primary source for dates
Saudi Arabia looks to dominate the dates industry It wants to establish itself as the primary source of dates for...
Forum in Dubai discusses market challenges, opportunities
Dubai Chamber says findings of the forum will be sent to the Dubai Government to help in policy formation 500...
UAE professionals seek challenging work, advanced tech at workplace: Survey
59 percent claim remote work option is an important aspect in their workplace In the UAE, there is a higher...
UAE to trade in 25 new international markets as economy recovers
UAE’s budget balance improved as its economy recovers It will enter 25 new international markets for foreign trade Boosted by...
Jordan’s online learning platform Edunation raises $3 million
The funding round was led by US investor Rubix The latest capital infusion will help the firm improve its operations...
Fewer restrictions, fast vaccination give Dubai edge in events sector
The emirate plans to host one of the biggest gas conferences and an African investor summit this year Dubai aims...
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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
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In Dubai 305m riders use public transport in H1 2022
Dubai’s Roads and Transport Authority (RTA) announced that the number of riders using public transport and shared mobility clocked nearly...
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...
Economy
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Business
Emaar H1 revenue 3.69 billion
H1 2022 EBITDA up 66 percent $1.6 billion.
- Q2 EBITDA up 53 percent to reach $798 million compared to $523 million in the same period of 2021.
- Emaar’s international real estate operations recorded property sales of $661 million in H1 2022 and contributed revenue of AED2.068 billion ($563 million
Business
Tadawul posts 23% fall in profit
The profit fell to $74 million in H1 in a year of record listings.
- It reported an 8.3 percent decline in revenue to $157 million, mainly due to the decrease in trading services and post-trade services
- Higher salaries and employee-related benefits further weighed on profit during the six-month period, leading to a rise of 9.8 percent in expenses to $80 million
Economy
Saudi banks disburse $537bn in loans in Q2, up by 14.2%
According to the Kingdom’s Unified National Platform, the Kingdom has been moving toward the Saudi Vision 2030 by developing the...
- The SAMA data showed that the value of Saudi banks’ aggregate loan portfolio totaled $537 billion at the end of the second quarter of 2022
- According to the Kingdom’s Unified National Platform, the Kingdom has been moving toward the Saudi Vision 2030 by developing the trade sector and ensuring its sustainability