Gross national income of GCC countries hits $2.143 trillion
Muscat, Oman -- The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of...
Economy
24 Dubai real-estate projects worth $1.22bn completed in H1
Dubai, UAE -- The first half of 2025 saw the completion of 24 real estate projects valued at AED 4.5...
Business
Business
Dubai Islamic Bank lists sukuk
The bank listed the sustainable sukuk on Nasdaq Dubai.
- The Sukuk is the first-ever sustainable Sukuk from a UAE entity and was issued in line with DIB’s Sustainable Finance Framework
- The bank issued the new Sukuk under its US$ 7.5 billion Sukuk Programme
Business
GCC IPOs resilient to volatility hurting other markets
Various IPOs raised nearly $4.8 billion in the GCC in the first five months of 2022 alone, which was higher...
- IPOs in the Gulf prove resilient to the volatility hurting deals in other markets, such as high oil prices, stable economies, and abundant liquidity fuel activity.
- Significant privatizations and private growth companies are now entering the IPO markets due to the recent surge of PO activity and frameworks introduced to enable SPAC formation.
Geostrategy
China-Arab summit: Chinese President Xi to visit KSA tomorrow
Chinese President Xi Jinping will reach Saudi Arabia on Wednesday for a three-day visit, his first to the world's biggest...
- Leaders from the two countries are expected to discuss potential deals that could see Chinese firms become more deeply involved in Saudi mega-projects
- Chinese President Xi Jinping last visited Saudi Arabia in 2016 on a trip that also featured stops in Egypt and Iran
Business
IATA says global passenger demand for air traffic growing
Geneva, Switzerland— Total global air traffic has shot up 44.6 percent in October as against October 2021, according to the...
- Total traffic in October 2022 (measured in revenue passenger kilometers or RPKs) rose 44.6 percent compared to October 2021
- Domestic traffic for October 2022 slipped 0.8 percent compared to the year-ago period as stringent COVID-related travel restrictions in China dampened global figures
‘UAE launching 4 products of advanced digital currencies in 2023’
The Advanced Technology Research Council, Faisal Al Bannai said, has 6 main research areas, including health, food, transportation and space...
- The Advanced Technology Research Council, Faisal Al Bannai said, has 6 main research areas, including health, food, transportation and space sector
- The council is one of three centres established to support and develop space capabilities and talents in cooperation with space agencies and strategic partners
Geostrategy
UAE President, Israeli counterpart seek to boost cooperation in space sector
Sheikh Mohamed and President Herzog confirmed the importance of boosting UAE-Israel cooperation in the space sector.
- Sheikh Mohamed and President Herzog confirmed the importance of boosting UAE-Israel cooperation in the space sector
- The two leaders discussed areas of collaboration between the UAE and Israel and the promotion of progress and stability across the region
Business
ADNOC and PETRONAS sign MENA’s first unconventional oil concession
Abu Dhabi, UAE— The UAE President Sheikh Mohamed and the King of Malaysia Al-Sultan Abdullah have witnessed the signing of...
- The award to Malaysia’s national oil and gas company launches the Middle East’s first unconventional oil concession
- Under the six-year concession agreement, PETRONAS will hold a 100% stake and operatorship to explore for and appraise unconventional oil
Geostrategy
‘Abu Dhabi Space Debate offers a significant and huge global platform to enhance activities in space sector’
It is possible to take advantage from the discoveries provided by space projects to boost our development for the benefit...
- There is an Emirati-Israeli partnership in space sector and important cooperation between the two space agencies of the two countries, says Israeli president
- The conference is a significant and huge global platform that works to enhance communication among the active and influential forces in the space sector, he adds
Geostrategy
UAE, UK experts discuss science, tech help in net-zero agenda
ABU DHABI, UAE - Experts from UK and the UAE participated in a Sci-Tech Virtual Tour of the Emirates science...
- The tour was launched to facilitate business-to-business introductions between stakeholders and investors.
- During the virtual tour, delegates discussed decarbonization, affordability, supply of renewable energy.
Economy
Dubai Health Authority wins International Data Corporation award
DUBAI, UAE - The Dubai Health Authority recently won the 'Best in Future of Operations' category at the International Data...
- DHA was recognized as an entity that has successfully rethought the ways in which its operations are managed keeping digital transformation in mind.
- IDC hosted over 200 senior IT and business leaders from across the UAE for the IDC DX Forum 2022.
Gross national income of GCC countries hits $2.143 trillion
Muscat, Oman -- The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of...
Economy
Company News
Latest News
Roadmap out for environmental education, sustainable development at WEEC2024
ABU DHABI, UAE - The Abu Dhabi Roadmap, a high-level plan outlining global recommendations to bolster Environmental Education (EE) and...
Most Read
Business
Ford Middle East sales up 63%
Growth fueled by Ford Territory, F-150 and other models.
- Ford Middle East said in a statement that the UAE recorded a 57 percent year-on-year increase in sales – more than double the industry’s average of 26 percent in this market.
- It also achieved a record year of growth in Saudi Arabia, where retail figures surged by 77 percent over 2022.
Business
Air Arabia 2023 net profit $408m
The firm recorded a 27 percent rise in profit compared to 2022.
- The company in its financial results said that the airline's turnover for 2023 reached US$1.6 billion
- Air Arabia’s Board of Directors proposed a dividend distribution of 20 percent of share capital,
Business
solutions by stc, Devoteam ink MoU
The aim is to foster avenues for collaboration in technology.
- The pact follows and builds upon the acquisition by solutions of a 40 percent stake in Devoteam Middle East.
- The collaboration also aims to combine the experience and resources of the parties for mutual benefit.