UAE’s global merchandise trade crossed $1trn mark in 2022: WTO
Based on data from the WTO, the UAE's export values in 2022 grew by 41%, while imports made up 22%...
Economy
DMCC posts record Q1 growth as 708 firms register
A total of 3049 new companies joined DMCC in 2022.
Business
UAE to provide low cost, low carbon energy as global demand grows
The UAE has three of the largest and lowest-cost solar projects in the world The country is taking the lead ...
Tunisia: Central Bank governor pleads with parliament to approve $4 billion IMF loan
Tunisia is struggling to pay off its debts and balance its budget The country is in discussions with the IMF...
MENA: Saudi Arabia was top FDI destination in 2020
Saudi Arabia received $10.4 billion in investment FDI projects in the kingdom fell by 49 percent to 73 Amid all...
Noor Al-Sulaiti is new Ooredoo CEO
Al-Sulaiti took over from Ian Dench who resigned recently She was earlier the CEO of Starlink, an Ooredoo Group subsidiary...
Some MENA economies see turnaround, others may take time to recover: IMF
Oil-producing countries will post positive growth, while economies dependent on tourism will struggle to stay afloat  IMF report says curbing...
Masdar wins 400MW solar plants tenders in Uzbekistan
The plants are expected to have a combined output of 400 MWÂ The projects are being implemented on a public-private...
Strap your seatbelts, and fly to 168 destinations on Emirates, flydubai
Since the launch of their codeshare flights, Emirates, flydubai have flown 500,000 passengers Both the airlines have implemented extensive biosafety...
Dubai Investment Park, Expo Stations on Route 2020 to open on June 1
The inauguration of more stations comes 6 months after the opening of Route 2020 Route 2020 has so far carried...
Global trade stakeholders to virtually attend customs conference in Dubai
Dubai Customs is hosting the 5th WCO Global Authorized Economic Operator Conference virtually from May 25 The three-day conference is...
DP World names new CEO for UAE Region, Jafza
Abdulla Bin Damithan has been appointed as the new CEO for the UAE region and Jafza of Dubai-based supply-chain logistics...
UAE’s global merchandise trade crossed $1trn mark in 2022: WTO
Based on data from the WTO, the UAE's export values in 2022 grew by 41%, while imports made up 22%...
Economy
Company News
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ADU Holding rebranded NEMA
Business
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