IPOs, investments help GCC markets prosper in 2023
Regional markets are reflecting a transition from oil dependency to diversified economies with six IPOs raising $419 million in in...Business Markets
Dubai’s family businesses get practical guidance with new toolkits
Dubai, UAE -- Three toolkits have been developed for family-owned businesses, which make up approximately 90 percent of the UAE’s...Business
Shareholders okay Arkan merger
Arkan will merge with Emirates Steel by the end of this year.The key terms of the merger were proposed in May this year by Emirates Steel’s parent company Senaat
They are to transfer Emirates Steel to Arkan in consideration for the issuance by Arkan to Senaat of a convertible instrument
Dubai records $1.2 billion realty deals
AED 2 billion worth of properties were mortgaged, the highest being a plot of land in Al Hebiah First, mortgaged...The highest number (21) of sales worth AED 59.14 million were recorded in Nad Al Shiba Third.
AED 2 billion wroth of properties were mortgaged, the highest being a plot of land in Al Hebiah First, mortgaged for AED 333 million.
Popular Buraidah dates daily sales worth $400k
About 400 refrigerated trucks transport hundreds of tons of 45 varieties of dates to specialized factories in big cities.The region has the highest number of date palm trees among all the kingdom’s regions.
About 400 refrigerated trucks transport hundreds of tons of 45 varieties of dates to specialized factories in big cities.
Bank ABC Islamic H1 gains hit $19.2m
The profit absorbed a one-off fraud-related impairment in 2020.The profit reflects the bank's success in returning to normal performance after absorbing the one-off exceptional fraud related impairment in 2020
Other key highlights include the total operating income of US$21.5 million which is 8.1% lower than the same period last year
Cargo ship splits in two after running aground at Japan port
Aerial images showed the separated stern of the Crimson Polaris tipped upwards and the other part of the stricken boat...Aerial images showed the separated stern of the Crimson Polaris tipped upwards and the other part of the stricken boat listing into the sea
Authorities were trying to contain the oil leak but had not yet been able to erect an oil fence around the boat
Emiratis in 18-24 age group 61 percent of Expo 2020 volunteers
The Expo Volunteers Program is an opportunity to gain lifelong skills and build connections, say Expo statement.Volunteers drawn from all segments of society will manage the 182-day event's vast array of activities, events.
The Expo Volunteers Program is an opportunity to gain lifelong skills and build connections, says Expo statement.
Dubai hotels may work full capacity
Under new Covid-19 directions for tourism sector, the number of participants in community events has been increased to 2,500 for...The number of participants in community events increased to 2,500 for indoor activities and 5,000 for outdoor functions with no mandatory vaccination.
Recreational and entertainment destinations such as museums, cinemas, exhibitions and tourism spots may increase their capacity to 80 percent.
Jazeera Airways posts 138% growth in passenger traffic in Q2
The operational performance shows positive signs that travel will recover at a fast pace after eased restrictions come to effect...The operational performance shows positive signs that travel will recover at a fast pace after eased restrictions come to effect by the middle of Q3 2020
The airline registered a net loss of KD6.5 million for Q2 on account of the higher costs due to increased operations and higher fuel prices
Sky Abu Dhabi to invest around $1bn in Egypt in two years
Sky Abu Dhabi Development will invest nearly a billion dollars in Egypt during the next two years in the North...Sky, a subsidiary of United Arab Emirates-based Diamond Group, set up in Egypt in February 2021 and launched its first project in March
Sky's project in the new capital comprises 1,000 housing units and 15,000 square meters of commercial and office space
Qatar pulls up 106 firms for violating summer work hours
The action has been taken under a new law that prohibits laborers from working outside between 10 am and 3:30...Qatar’s labor ministry said the 106 companies it pulled up were caught during an intensive inspection campaign
The ministry said the violating companies are chiefly from the contracting sector: building maintenance, to be specific
