UAE, Vietnam begin process for economic partnership pact
Abu Dhabi, UAE - The UAE and Vietnam signed Thursday a declaration of intent to start negotiations for a comprehensive...
Business
UAE highlights ways to enhance education system at UK meet
DUBAI, UAE - A UAE group highlighted its technological programs and initiatives aimed at boosting the educational system and reviewed...
Arts & Culture
$2.25trn creative sector that employs 30m worldwide needs help: UN
The creative and cultural industry needs more support as it has been of great service during the coronavirus pandemic. The...
Bahrain’s Q1 property deal volumes surge 36% to $600m
Bahrain’s Survey and Land Registration Board has said property transaction volumes in the first quarter rose to $600 million This...
Yalla Group to buy back shares worth $150-million
The company will use its existing cash balance to buy back shares over the next 12 months It also quashes...
More than AED 4 billion worth of real estate and properties sold in Dubai in week
Around 1,500 real estate transactions made in during one week 120 plots of land, and more than a thousand apartments...
New standardization, metrology legislation to drive UAE’s industrial sector: Sultan Al Jaber
New UAE standardization and metrology legislation will boost its industrial sector and national economy The standardization regulations will create an...
Abu Dhabi makes commercial, industrial activities available for foreign ownership
Abu Dhabi Department of Economic Development believes the decision will attract further foreign investment Department amends law to enable 100...
Saudi Arabia among top 10 in terms of mobile Internet speeds
Recent reallocation of frequency spectrum likely to increase the capacities of radio networks, improve quality of services Country plans to...
Renewables grew fastest in two decades in 2020: IEA
IEA has said renewable sources of energy grew at their fastest clip in 2020 in this millennium The world added...
Oman, India vow to boost defense ties with two agreements
Defense ties between Oman and India deepen as the two countries sign two agreements on military matters The cooperation will...
Rural populations can do better with improved internet access: UN
Internet access in rural areas can boost job markets and lead to a greener future The access can propel them...
UAE, Vietnam begin process for economic partnership pact
Abu Dhabi, UAE - The UAE and Vietnam signed Thursday a declaration of intent to start negotiations for a comprehensive...
Business
Company News
ADU Holding rebranded NEMA
Business
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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