Ghitha 2023 revenue at $1.2bn
Ghitha reported an operating profit of $69 million in 2023.Company News Business
Asian markets stabilize but Evergrande fears linger
The battle in Washington to raise the US debt limit was also fuelling concern that the government could miss payments...Dubai led declines among stock markets in the Gulf on Monday, as its main share index fell 1.2 percent.
Hong Kong's Hang Seng Index, which plunged more than three percent Monday, edged up 0.2 percent.
Covid-19 drives e-learning in GCC
There has been a massive growth in content creation and learners' demand in last two years as the pandemic puts...There has been a massive growth in content creation and learners' demand in last two years
E-learning is highly dependent on digital infrastructures, such as Internet usage and connection fees, which vary dramatically from one Arab country to another
Dubai Chamber adds 16,000 new members this year
Some 16,000 new companies have joined Dubai Chamber this year, bringing the total membership to more than 275,000.The membership growth is also a result of the various business-friendly measures and incentives introduced by the government in recent years
The number of ATA Carnets issued by the Chamber and received by the country, increased 5.1 percent over the same period, reaching 2,188 in the first eight months of 2021
Foreigners in Kuwait on commercial visit to get work permit now
The move is aimed at meeting growing demand for manpower by companies in the country. After all, the number of...Thousands of expats left Kuwait this year and have been unable to return due to the pandemic
This move is expected to offset that talent drain and attract more such talent into the country
Evergrande’s crash crunch stumps investors and homeowners alike
The once-mighty Evergrande Group has long been the face of Chinese real estate, surfing a decades-long property boom to expand...The once-mighty Evergrande Group has long been the face of Chinese real estate, surfing a decades-long property boom to expand into more than 280 Chinese cities
But it is now smothered by a $300 billion liabilities burden that has crushed its credit rating, share prices
Kuwait starts 100,000 bpd oil-gathering center
Kuwait is one of five countries that negotiated a higher baseline for its quota in a July 18 OPEC+ meeting.A gathering center is a facility that collects oil from a field to be transferred usually by pipelines
This gathering center is formally referred to as GC-31 and is located in in northern Kuwait
Amazon to hire 1,500 people in UAE as it expands business
Amazon, the US e-commerce giant, has announced that it would add 1,500 jobs in the United Arab Emirates to cope...The jobs, according to the company, will be created as it expands its fulfillment center storage capacity by 60 percent
This expansion is expected to create additional jobs through its sellers and delivery partners
Oman tax authority to fine VAT non-filers
Those who have not filed VAT returns would see a fine of up to OMR5,000 (around $13,000) imposed on them.The standard rate of VAT in Oman is 5 percent
It is among the lowest in the world
Top Saudi banks see increase in deposits and financing in Q2
Top Saudi banks have seen strong growth in the second quarter of the current fiscal in financing and deposits. According...The outlook for cost of risk remains relatively stable, says Alvarez & Marsal
L&A and deposit growth was supported by the merger of NCB and SAMBA to form Saudi National Bank
ESG wins $12.5m contract for upkeep of Abu Dhabi’s Corniche Road
Emirates Stallions Group, a subsidiary of the International Holding Company (IHC,) has secured a $12.5 million contract from the Abu...Landscaping contract is one of largest public municipality projects of its type
ESG has presence in 20 markets in the region, with assets of 537 million dirhams as of the end of the first quarter this year
