UAE creates ‘Parkin’ to oversee parking space operations in Dubai
Dubai, UAE - The UAE has issued a law establishing ‘Parkin’, a public joint stock company (PJSC) that will oversee...Business
GCC witnesses 5.8 percent decline in mobile phone sales in second quarter
Due to supply shortages and high levels of inventory carried over from the first quarter, smartphone shipments to the GCC...IDC predicts a 9.4 percent decline in shipments QoQ for the GCC smartphone market in Q3.
Smartphone shipments were down 5.1 percent and feature phone shipments fell 11.9 percent
US approves $500mn helicopter maintenance deal for Saudis
Under the deal, US will provide 350 contractor technicians and two government officials over two years to handle the maintenance...Before his election Biden had promised to make Saudi leaders "pay" for the murder of US-based journalist Jamal Khashoggi.
In late January Biden ordered a review of all arms contracts concluded by his predecessor Donald Trump with Saudi Arabia and other countries.
Etihad, Sabre renew partnership
Under the new pact, Etihad will leverage Sabre's IT solutions.Under the new agreement, Etihad will continue leveraging a suite of Sabre's IT solutions to aid recovery
Sabre will help Etihad in network planning and scheduling, pricing and revenue management and cargo technology
IPL to resume in UAE on Sunday after tournament suspension due to Covid
The tournament was halted in May because of a devastating surge in coronavirus deaths in India, prompting foreign players to...The eight-team tournament resumes with Delhi Capitals at the top of the table
The final will be in Dubai on October 15, just two days before the T20 World Cup begins
UAE to establish business council with Estonia
The council will aim to enhance bilateral economic and trade relations between the two countries.The MoU was signed by Abdullah Mohammed Al Mazrouei, Chairman of the Federation of UAE Chambers of Commerce and Industry
Peeter Raudsepp, CEO of Enterprise Estonia, signed the agreement on behalf of his country
Unesco recognizes Saudi marine sanctuary
The UN body has registered the Farasan Island Marine Sanctuary in its Man and Biosphere Program.The Farasan Islands are said to support the largest population of idmi gazelle in Saudi Arabia
They also have high concentrations of greater flamingo, pink-backed pelican, Eurasian spoonbill, and osprey
UAE to invest billions of pounds in UK
The UAE has vowed to invest £10 billion ($13.8bn) in the UK over five years as Abu Dhabi Crown Prince...The focus of investment will be on the UK's technology, infrastructure and energy transition sectors
Mubadala's investment plans is likely to 'drive a significant increase' across the three target sectors
Dubai-France trade reaches AED8.5 billion in the first half of 2021
DUBAI: The emirate of Dubai sees tourism and exhibition activity returning to normal, with EXPO 2020 around the corner, according...The emirate sees tourism and exhibition activity returning to normal, with EXPO 2020 around the corner, according to DP World chairman.
Top commodities included jewelry, perfumes, medical products, textiles and leather.
ADQ to acquire pharma firm
ADQ will acquire Swiss firm Acino from its current shareholders.Switzerland-based Acino is known as a provider of pharmaceuticals
Its markets include the Middle East, Africa, Latin America, Russia, Ukraine, and the CIS Region
Solutions by STC prices IPO at top range
The IPO order book 130 times oversubscribed during the book-building process.The company is set to raise $960m, pricing IPO at 151 riyals per share.
The individual investors tranche subscription process will commence on Sunday and ends on Tuesday.
