UAE-based banks aggregate capital, reserves reach US$131bn by end of November 2023
ABU DHABI, UAE- The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching US$131 billion...
Business
Economy
Qatar’s IPI increases by 4.9 percent in September
Doha, Qatar— The Industrial Production Index (IPI) of Qatar has increased by 4.9 percent in September of 2022 when compared...
- The mining sector index showed a decrease by 2.8% compared to the previous month (August 2022)
- The index of the manufacturing sector showed a decrease by 5.3% compared to the previous month (August 2022)
Arts & Culture
Qatar’s excellence in organizing the World Cup refutes all allegations, says IPU head Duarte Pacheco
“Qatar has done everything in the best way, I don't understand some critics, because we didn't find these kind of...
- Qatar has prepared an integrated infrastructure for the FIFA World Cup, says Inter-Parliamentary Union President Duarte Pacheco
- Pacheco also praises the labor reforms implemented by the State of Qatar to protect the rights of workers
Arts & Culture
Qatar calls for ‘civilized communication’ as FIFA World Cup opens with fervor; host nation loses first match
Fireworks, cultural performances add to the grand opening ceremony attended by regional leaders, heads of delegations and sports panels and...
- Fireworks, cultural performances added to the grand opening ceremony attended by regional leaders, heads of delegations and sports committees and federations, dipomats and fans
- Qatar becomes the first home team to lose its opening World Cup match as Ecuador cruises to a 2-0 victory over the host
Economy
Abu Dhabi launches smart manufacturing index
ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) has launched the 'Abu Dhabi Smart Manufacturing Index',...
- The Index empowers manufacturers with the necessary knowledge and training to initiate an Industry 4.0 transformation journey.
- It breaks down sophisticated concepts into six building blocks to provide a clear and easy-to-follow roadmap.
Business
Mawani announces new freight service at King Abdulaziz Port
Riyadh, Saudi Arabia---Saudi Arabia’s General Authority for Ports (Mawani) Sunday announced a new freight service, at the King Abdulaziz Port...
- The service connects King Abdulaziz Port with six major regional and international ports.
- This coincides with the launch of the added EJBS service from the Emirates Shipping line.
Business
Sales of Al Rahmaniyah Commercial Lands begins
SHARJAH, UAE - ASAS Real Estate Company, the real estate arm of Sharjah Islamic Bank (SIB), announced the launch of...
- The project follows increasing demand for the company's latest real estate projects.
- The project benefits from close proximity to Emirates Road, Sharjah Airport and Sharjah University City.
Business
UAE sets 31 Dec. deadline for availing redetermination of tax penalties
Abu Dhabi, UAE---The Federal Tax Authority (FTA) has called on registered taxpayers to benefit from the decision to re-determine administrative...
- Taxpayers asked to ensure they meet the conditions set out in the Cabinet Decision on re-determining administrative penalties imposed on tax law violations in the UAE.
- Eligible taxpayers must complete all related procedures through the e-services portal on its official website before 31 December 2022 to be able to benefit from these facilities.
Arts & Culture
FIFA World Cup Qatar will be the best, says Infantino
Regarding the rights of workers, it is unfair that the world does not see the great progress and clear development...
- The International Federation and Qatar want to present an exceptional tournament, which will make the world feel proud of football, says FIFA President Gianni Infantino
- Regarding the rights of workers, it is unfair that the world does not see the great progress and clear development that the State of Qatar has achieved in this field, he adds
Business
GAL-AMMROC, GMF ink pacts
The pact were inked during the B20 Summit in Bali, Indonesia.
- The pacts will allow AMMROC to expand its MRO capabilities and consolidate its status as a key enabler of a sustainable domestic defense sector in the UAE.
- The cooperation will further expand to the joint promotion of the N219 and NC212 aircraft in the Middle East and Africa markets.
Economy
Sharjah International Travel and Tourism Forum to begin Nov 24
SHARJAH, UAE - The 9th edition of the Sharjah International Travel and Tourism Forum (SITTF) is set to kick off...
- The forum will convene a host of government officials, local and international decision-makers, experts in global travel, tourism and aviation sector.
- Organized by Sharjah Commerce and Tourism Development Authority, the forum complements SCTDA's efforts to bolster Sharjah's position in global tourism.
Company News
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Saudi Arabia’s Industrial Production Index falls 11.2% in September
RIYADH, SAUDI ARABIA – The Kingdom of Saudi Arabia’s Industrial Production Index (IPI) fell by 11.2 percent year-on-year (YoY) in...
Economy
Dubai Investments acquires 7.68% more stake in Monument Bank
Dubai, UAE - Dubai Investments, the leading investment company listed on the Dubai Financial Market (DFM), acquired additional 7.68 percent...
Business
UAE Islamic Treasury Sukuks auction is a tremendous success
ABU DHABI, UAE - The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer, in collaboration...
Business
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Business
Record number of patent applications filed globally in 2022, says WIPO
GENEVA, SWITZERLAND - Global patenting activity soared to new records in 2022, fueled by Indian and Chinese innovators, but an...
- China, the US, Japan, Republic of Korea and Germany were the countries with the highest numbers of patent filings in 2022.
- innovators from around the world submitted 3.46 million patent applications in 2022, marking a third consecutive year of growth.
Economy
Expat remittances in Saudi Arabia fall to $2.6bn in September
RIYADH, SAUDI ARABIA - Remittances by expatriates in Saudi Arabia dropped 13 percent year-on-year (YoY) to US$2.6 billion (SAR 9.9...
- On a month-on-month (MoM) basis, expat remittances in the Kingdom declined 8 percent, or US$229 million.
- Remittances by Saudi nationals to other countries also fell 11 percent YoY to US$1.2 billion in September.
Business
Qatar’s business conditions continue to improve in October
DOHA, QATAR – Qatar's non-energy private sector continued to experience improving business conditions at the start of the final quarter of...
- Output, new orders and employment all expanded in October, and the 12-month outlook remained upbeat.
- Profitability improved as firms raised their prices for goods and services at the fastest rate since February.