Makkah, Morocco’s Beni Mellal-Khenifra Chambers of Commerce ink pact
MAKKAH, SAUDI ARABIA - The Makkah Chamber of Commerce and Industry and the Chamber of Commerce, Industry, and Services of...Business Geostrategy
Riyadh Season 2021 has ‘big surprises’ in store
The event featuring concerts, theater performances, wrestling matches aims at making the Saudi capital a tourism entertainment destination.This year's slogan is #Imagine_More, as its events will be held in an area of 5.4 million square meters.
The event is also an opportunity to showcase the outcome of several national goals, such as raising the level of the entertainment industry sector.
Semiconductor shortage slows down GCC auto sector
Auto exports to the region are likely to suffer for the next more than a year due to an estimated...Toyota Middle East has pledged it would do its best to avoid inconvenience to customers waiting for delivery of vehicles.
On an average, a car needs around 1400 chips. Electric vehicles utilize even more.
Banks rule GCC in market capitalization
Banking firms in the Arabian Gulf countries dominate the list of top companies in terms of market capitalization with Saudi...Al Rajhi Bank's market capitalization stands at $80.65 billion
In energy sector, Saudi Aramco is much ahead of others with $1.86 trillion
Dubai Airshow 2021 ties up with global aerospace bodies to support startups
Dubai Airshow 2021 is collaborating with global aerospace entities in order to provide 'disruptive' startups with an opportunity to showcase...The VISTA pitch competitions will run across three categories covering areas that are key for the continued growth of the industry
Startups will be offered the opportunity to present their solutions to the aerospace ecosystem, tech leaders and investors
Dubai non-oil external trade up 31 percent, exports grow 45 percent
The results show Dubai has reinforced its status as one of the world’s fastest-growing business hubs, said Dubai crown prince...Imports rose by 29.3 percent YoY to AED414 billion from AED320 billion. Re-exports grew 28.3 percent YoY to AED198.6 from AED154.79.
China maintained its position as Dubai’s biggest trading partner in H1 2021 with AED86.7 billion worth of trade compared to AED66.3 billion in H1 2020, up 30.7 percent YoY.
Sharjah to showcase its FDI potential at Dubai Expo 2020
Invest in Sharjah has confirmed participation at the world’s biggest fair and announced it will host discussions and specialized activities...Sectors that will be promoted include culture and tourism, mobility and logistics, health and wellbeing and Greentech.
Emirate's investor-friendly climate is reflected in six free zones and the integrated business and licensing services, said Invest in Sharjah.
Union Properties begins work on townhouses in Dubai’s Motor City
Union Properties, the Dubai-based developer, has begun work on the construction of Motor City Hills, building three-story townhouse villas.The company has just signed an investment agreement with real estate firm Aqua Properties
Motor City Hills is Union Properties’ latest project in the heart of Dubai’s Motor City
UAE’s ADNOC Drilling to list on Abu Dhabi Securities Exchange
ADNOC Drilling will list on Abu Dhabi Securities Exchange on October 3. The company will list under the trading symbol...In the first week of September, the ADNOC subsidiary floated 11 percent of its share capital in an initial public offering (IPO) at 2.3 dirhams ($0.6262) per share
In a statement the exchange said the company will list under the trading symbol ADNOCDRILL
Al Mazaya’s subsidiary to sell Saudi firm stake
First Dubai Real Estate Development Co. board cleared the $51.4m deal.The board also approved to set off its entire accumulated losses by reducing its capital to 74.129 million dinars from 100 million dinars.
In May, Bait Al-Amar Al-Khaleeji General Trading and Contracting has purchased 60.029 million shares of Al Mazaya Holding.
Rush to invest in Saudi mining sector heats up, 4073 applications received
Saudi Arabia has been flooded with license applications from investors at home and abroad to invest in its mining sector....The Kingdom plans to launch a comprehensive geological survey to map the country’s mining potential
According to geological surveys dating back 80 years, the Kingdom has an estimated reserve of untapped mining potential valued at $1.3 trillion
