China’s Evergrande says head of EV arm detained
At the time of its establishment in 2019, Evergrande NEV said it aimed to become the world's leading manufacturer of...Business
GCC telecom firms turn to Europe, Asia for expansion
Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home...Business
$1.3bn UAE-Mexico non-oil trade in 2020 shows strong trade ties: Minister
The non-oil trade between the UAE and Mexico totaling $1.3 billion in 2020 demonstrates a strong partnership between the two...Both countries agree on new plans to reinforce economic cooperation.
UAE Minister of State for Foreign Al Zeyoudi holds a meeting with Martha Delgado Peralta, Deputy Secretary at Mexico's Ministry of Foreign Affairs.
Engicon lands Jordan partnership
Engicon has signed an MoU with the JPMC for a water treatment plant.Engicon will supply, develop, and operate a phosphate water treatment plant in El-Sheidiyah mines
The treated water will be used for purposes of industry and agriculture, aimed to improve and preserve the region's ecosystems
OTO gets $3m from MEVP and Derayah
It is the 'largest seed' raised by a MENA SaaS firm.OTO is currently offering its services in Saudi Arabia, UAE, Kuwait, Oman, Qatar, Bahrain, and Egypt.
The funding will help the company to grow its customers base across GCC and Egypt.
Qatar National Bank posts 8 percent jump in net profit to $2.83bn in 9 months of 2021
Qatar National Bank (QNB), the Gulf's biggest lender, posted an 8 percent increase in nine-month net profit to $2.83 billion,...Loans and advances grew 7% in the period while total assets rose 10% to 1,084 billion riyals, it said in a statement
Operating income in the first nine months of 2021 grew by 8% to 20.7 billion riyals, it said
DEWA gets $10.9bn via IPWP model
DEWA used the IPWP model in a number of its key projects.One of the model’s key features includes the implementation of the directives of the leadership
It also includes adopting a successful partnership model on sound commercial foundations
Dubai Police carries out region’s largest drug bust
The Dubai Police have arrested a man they say had smuggled 500 kg of pure cocaine, which has a street...The police operation, codenamed Scorpion, led to the seizure of 500 kg cocaine
The cops said this was the region's largest drug seizure, and also resulted in an arrest
Business confidence in Dubai reaches third-highest level in 10 years: Survey
Business confidence in Dubai reached its third-highest level in 10 years as companies in the emirate begin to feel the...A survey by Dubai Chamber said companies in the emirate begin to feel the positive impact of Expo 2020.
Global supply chain restrictions were identified as a key challenge for business leaders.
Pipeline to transport gas from Qatar to UAE secures $3bn in financing
The Dolphin Gas Project, a natural gas pipeline to transport Qatari natural gas to the United Arab Emirates and Oman...Dolphin Ltd. will obtain financing through a revolving loan to implement expansions in pipelines that transport gas from the Qatari North Field to the UAE capital Abu Dhabi
Dolphin Energy Limited is working on implementing the project after collecting funding from 15 banks for a period of up to 10 years
London draws buyers from Middle East with hot property deals as fear of Covid eases
Buyers from Middle East have been scouting London for property deals in prime central London, with sales in the first...“We have seen an influx of Middle Eastern investment into London over the last month"
Strict travel restrictions, Knight Frank said, have led to pent-up demand, and footfall of Middle Eastern travelers through London's Heathrow Airport has also risen in August
UAE may open VoIP services to all next year
Mobile phone users in the Gulf country are currently allowed to use the internet-enabled video and audio calls only through...The UAE's telecom regulator is likely to roll out VoIP services for everyone in the country next year
This could be either in January 2022 or after Expo 2020, which ends on March 31, 2022
