‘Dubai, Abu Dhabi, Riyadh, Bahrain have reinforced position as top GCC tourist spots’
GCC region is a hidden gem, offering a distinct blend of Arabic culture and history, Fahim Jalalli, CEO of Kanoo...Business Tourism
Empower, ASHRAE form alliance
They partnered to lead global expansion of the cooling sector.The talks touched on improving energy efficiency within the cooling and heating sector, underscoring the importance of shared knowledge
One of the results that came out of the meeting was the agreement to develop a standardized District Cooling Guide applicable in various countries
DEWA awards pipeline contract
The US$3m-contract is for the laying of GRE pipes in Hatta.The contract is part of the pumped-storage hydroelectric power plant that DEWA is currently constructing in Hatta, a first of its kind in the GCC
The CEO of DEWA said the project supports the plan to develop Hatta and address its social, economic and environmental requirements
GIB, KSA wrap up Sukuk debut
Gulf International Bank is a merchant bank in the Middle EastThe bank’s Sukuk programme is aligned with its strategic objectives to facilitate balance sheet growth and contribute to the realization of the national economic objectives
GIB Capital’s CEO Osamah Shaker said that the bank is delighted to act as the sole arranger for the establishment of the Sukuk Programme and the Bank’s debut issuance
UAE stocks generate over US$272m cash flows on Monday
Abu Dhabi, UAE--UAE stocks generated strong cash flows Monday, with market liquidity surpassing $272 million. International Holding Company (IHC) and...ADX notched up $241.25 million in liquidity, as compared to the $31.31 million gained by the Dubai Financial Market (DFM), with $56.50
The market capitalisation of listed stocks reached reached $980 billion on Monday, divided into $792 billion in ADX and AED 676.8 billion in the DFM.
KPMG’s global revenue touches $36bn
The company has outlined a collective investment of $4.2b.The announcement came in after KPMG International declared the annual globally aggregated revenues for KPMG firms of US$36b for FY23
The financial figures highlight robust year-on-year growth of the company, reinforced by a multi-disciplinary approach
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...Beni Mellal Chamber of Commerce, Industry and Services delegation head said that Saudi Arabia is Morocco's largest trading partner.
In 2022, the volume of Saudi Arabian exports reached US$4.6 billion, while the value of imports was US$87 million.
Institutional investors purchase $1.9bn in UAE stocks during 2023
Abu Dhabi, UAE -- Institutional investors boosted their acquisition of domestic stocks in 2023, purchasing nearly AED 7 billion ($1.9...This figure reflects a total purchase of AED 302.7 billion compared to total sales of approximately AED 295.8 billion.
Institutional investors dominated the UAE equity market in 2023, capturing nearly 78 percent of total trading activity.
ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...The collaboration supports Abu Dhabi Industrial Strategy's vision to establish the Emirate as the most competitive industrial hub in the region.
Siemens Energy will support IDB to localize the manufacturing capabilities in Abu Dhabi and provide technological solutions.
Decree issued to form Board of Dubai Corporation for Ambulance Services
Dubai, UAE -- Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum Monday issued a decree for the formation of the...The Assistant Commander-in-Chief for Excellence and Pioneering Affairs of Dubai Police will serve as the Vice Chairman of the Board.
These representatives will be named by the respective heads of these entities. The Board also includes the CEO of Dubai Corporation for Ambulance Services.
Saudi Arabia jumps to second rank in ICT index among G20 nations
Riyadh, Saudi Arabia -- Saudi Arabia jumped 10 ranks to second place among the G20 countries according to International Telecommunication...The index monitors the economies of 169 countries to measure their progress in ICT services through two main pillars ‘universal connectivity’ and ‘meaningful connectivity.
It reflects the robust and developed digital infrastructure, with an increase of 99 percent of Internet penetration rate in Saudi Arabia.
