Air cargo demand up 8.3 percent in November 2023, says IATA
GENEVA, SWITZERLAND - The International Air Transport Association (IATA) released data for November 2023 global air cargo markets indicating the...Business Aviation
CES gadget fest a showcase for AI-infused lifestyle
The annual Consumer Electronics Show gathering boasts more than 3,500 exhibitors and is expecting some 130,000 visitors. Companies big and...Business Tech & Media
PIF acquires 25 percent stake in EEC
Under the deal, EEC transferred part of its loan to PIF in exchange for company shares.Under the deal, EEC transferred part of its loan - worth $755 million- from the Ministry of Finance to the PIF in exchange for company shares.
PIF believes that the transaction will also accelerate the development of EEC by establishing King Abdullah Economic City.
Turkey to buy more defense systems from Russia
Turkey still intends to buy a second batch of S-400 missile defense systems from Russia, its president has said.The United States imposed sanctions on Turkey's Defense Industry Directorate and its chief following the acquisition of the first S-400s
Washington has repeatedly said acquisition of this second batch would almost certainly trigger new sanctions
Sharjah, Saudi Arabia discuss real-estate investment
The discussions took place between the Sharjah Chamber of Commerce and Industry and the National Real Estate Committee of the...The meeting witnessed recommendations that centered on coordination to organize a joint real-estate event during ACRES 2022
The two parties also discussed prospects for cooperation and bilateral partnerships in various fields in the real-estate sector
Iraqi Kurdistan seeks to attract Turkish investors as gateway to wider markets
DUBAI: Iraq's Kurdistan is a gateway for Turkish firms to explore the wider Iraqi market, President Nechirvan Barzani said as...The semi-autonomous region is a gateway for Turkish firms to explore the wider Iraqi market, says president Nechirvan Barzani.
Iraq is among Turkey's largest markets for exports, which reached $1.9 billion in 2020.
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.
