Qatari exports to clients surge in 2023 to US$412m: Tasdeer
Doha, Qatar--The Qatar Development Bank's Export Development and Promotion Agency (Tasdeer), a subsidiary of the Qatar Development Bank, announced an...Business
IHC announces formation of 2PointZero – a next generation holding company
ABU DHABI, UAE - The International Holding Company (IHC) announced the initiation of the transfer of 2PointZero, a next generation...Business
Bahrain’s digital transactions touch $3.62bn in H1
Bahrain’s central bank has revealed that cashless transactions in the country has surged 50 percent to $744 million in August, after...The total number of payments made online and through point-of-sale (POS) machines reached 11.3 million during the month
The first half of the year saw a total of 53 million cashless payments valued at $3.62 billion, posting a 45.6 percent growth rate
Hyundai speeds up auto roll-out
Hyundai is stepping up the pace of developing hydrogen technology and plans to offer engines powered by the fuel on...From 2023, Hyundai's third generation of fuel cells will be half the price, much smaller and more powerful than their predecessors
"We aim to help foster a worldwide hydrogen society by 2040"
Aramex creates two business arms
Company also creates regional structures, each headed by a VP.While Aramex Express will handle the business-to-consumer (B2C) operations, the Aramex Logistics will serve the business-to-business (B2B) segment.
Each region in new structure will be led by a regional vice-president.
Demand for food in GCC to shoot up by 2025
Demand for food in the Gulf Cooperation Council (GCC) will reach 52.4 million metric tons (MT) by 2025, up from...The UAE and Saudi Arabia account for 75 percent of the GCC’s food consumption and demand for specific sectors is growing
GCC governments have also been investing across international farmlands in Ethiopia, Madagascar, Mali, Serbia, Sudan, Zambia, Tanzania to establish strong trade relations and incre
ADQ to list Abu Dhabi Ports on ADX
ADQ, one of the largest holding companies, has announced its plan to list Abu Dhabi Ports Company on the Abu...The listing on the ADX is expected to comprise a sale of a portion of existing shares to investors in the UAE
For the year ended 31 December 2020, Abu Dhabi Ports reported revenues of AED 3.4 billion, a growth of AED 0.7 billion (c. 24%) compared to 2019 despite the COVID-19 impact
Asian markets lifted by recovery hope, Tokyo breaks 30,000
While the mood is generally upbeat, analysts remain cautious owing to the constant threat of the pandemic.Shanghai, Sydney, Singapore, Wellington, Manila, Mumbai and Bangkok post gains; Seoul, Taipei and Jakarta the only stragglers.
Tokyo continued its march higher on stimulus hopes, while a reshuffle of the Nikkei 225 also provided healthy support.
Bahrain now ranks among top 20 in foreign investment
Bahrain has attracted three times the amount of greenfield FDI that might be expected given the size of its economy,...The Financial Times Group publication has ranked Bahrain second in the Gulf and third in the Middle East and North Africa
Bahrain obtained 3.23 points, which reflects the relatively large contribution of foreign investments to the economy, the report says.
Aramco Q2 net income $25.5 billion, up by 288 percent
The results driven by higher oil prices and a recovery in worldwide demand, supported by the global easing of COVID-19...H1 net income $47.2 billion, representing a 103 percent increase over the same period in 2020.
The Q1 dividend of $18.8 billion was paid in the second quarter and Q2 dividend of the same amount will be paid in the third quarter.
GIG completes acquisition of AXA
The rebranding of AXA to GIG will happen in the next few months.At $474.75 million, the deal is the largest insurance acquisition in the region.
The transaction expands GIG’s insurance business portfolio, bringing the Group into two new markets in Oman and Qatar.
Dubai property sales hit four-year high in August
The figures indicate that the property market, particularly the residential market, is recovering after hitting a low at the start...A total of 37,537 sales transactions worth 88.12 billion dirhams were made by August end, which is 22.61 percent higher than the value of deals made in 2020.
The entire year of 2020 had 35,401 sales transactions worth 71.87 billion dirhams.
