Shanghai to build 200 smart factories to shore up its manufacturing status
Shanghai, China--Shanghai plans to build 200 new smart factories and 20 demonstration sites by end of 2025 after 70 intelligent...Business
Dubai Center for Family Businesses issues guidelines
DUBAI, UAE – The Dubai Center for Family Businesses, which operates under the Dubai Chambers umbrella, has released a ‘Sample...Business Geostrategy
Shaker H1 net profit SAR 15.3m
The company attributes growth to robust sales in four quarters.H1 earnings per share improved to SAR 0.24.
The revenue grew by 18.2 percent compared to H1 2020.
One ton of honey sells in Saudi Arabia in 10 days
At least one ton of honey has been sold in just 10 days at a festival in Baha, Saudi Arabia,...Beekeeper Yahya bin Tayran said Baha honey was one of the finest, especially if its source was far from where people lived
It has a display of different types of liquid honey and honey wax typical of the Baha region
Kuwait International Bank completes sale of NMC Health debt
Kuwait International Bank said it has completed the sale of its exposure in troubled UAE healthcare group, NMC.The sale of debt, worth over $13mln, is subject to approvals
The lender, which was owed $74.11 million by NMC health, in May decided to cut its losses and sell the debt to an unnamed entity for $13.25 million
Taliban inherit $1 trn trove of minerals
China could take lead to tap the untapped minerals including some that could power the world’s transition to renewable energies.Endless wars and poor infrastructure have prevented the country from getting its hands on the metals that could brighten its economic fortunes.
The resources include bauxite, copper, iron ore, lithium and rare earths, according to a January report by the US Geological Survey.
Six new projects approved for development of Hatta
Tourism and water have been the economic mainstay of Hatta, an inland exclave of Dubai.Hatta residents will be allowed to build 200 holiday homes to support domestic tourism.
504-km-long chairlifts, waterfalls, hotel among other projects.
Meet to discuss Islamic finance’s role in post Covid-19 recovery
The global forum organized by the Islamic Development Bank on Aug. 28 is being held as a side event to...The first panel of the forum will highlight the economic effects of the pandemic and the poverty trends in IsDB member countries.
The second panel will focus on Islamic finance PPP as a tool to mobilize resources to support IsDB member countries’ economic recovery.
New GCC wealth drives private banking
Private banks cater to the complex banking needs of the Ultra High Net Worth Individuals and High Net Worth Individuals...Saudi UHNWI population has grown by 227 percent since 2016, the fastest growth rate globally over this period.
Private banking yields returns up to 30 percent annually, but more typically are in the 7-13 percent.
Megaship that blocked Suez heads back to Asia
The MV Ever Given had "successfully crossed" the canal after unloading its cargo in Britain and was now on its...The vessel was seen sailing in open waters accompanied by Egypt-flagged tugboats
The Ever Given got stuck diagonally across the canal during a sandstorm on March 23
Cryptocurrencies dazzle investors with high returns
Cryptocurrencies seem to be the flavor of the season as increasingly more people around the world are embracing them; sometimes...Though the concept of crypto (as they are informally called) investment seems novel, the first cryptocurrency came into the market more than a decade back
One cryptocurrency, recently launched, is destined to change all that, and is already making waves around the world as people are lapping it up in droves.
Iran’s July oil output rises 28% year on year: OPEC
Iran produced 2.485 million barrels per day or bpd of crude oil in July, according to OPEC’s latest monthly report.The country’s average crude output for the second quarter of 2021 stood at 2.443 million bpd
This indicated a 224,000-bpd increase compared to the figure for the first quarter of the year
