Boeing suspends 777X flight tests after part failure, its latest quality control issue
New York, United States - Boeing has suspended flight testing of its new 777X wide-body jet after identifying the failure of...Business
Oman, China bilateral trade grows by 8% to $15bn till May
 The volume of bilateral trade between the Sultanate of Oman and the People’s Republic of China has increased 8% in...Business
UAE stocks generate over US$272m cash flows on Monday
Abu Dhabi, UAE--UAE stocks generated strong cash flows Monday, with market liquidity surpassing $272 million. International Holding Company (IHC) and...ADX notched up $241.25 million in liquidity, as compared to the $31.31 million gained by the Dubai Financial Market (DFM), with $56.50
The market capitalisation of listed stocks reached reached $980 billion on Monday, divided into $792 billion in ADX and AED 676.8 billion in the DFM.
KPMG’s global revenue touches $36bn
The company has outlined a collective investment of $4.2b.The announcement came in after KPMG International declared the annual globally aggregated revenues for KPMG firms of US$36b for FY23
The financial figures highlight robust year-on-year growth of the company, reinforced by a multi-disciplinary approach
Makkah, Morocco’s Beni Mellal-Khenifra Chambers of Commerce ink pact
MAKKAH, SAUDI ARABIA - The Makkah Chamber of Commerce and Industry and the Chamber of Commerce, Industry, and Services of...Beni Mellal Chamber of Commerce, Industry and Services delegation head said that Saudi Arabia is Morocco's largest trading partner.
In 2022, the volume of Saudi Arabian exports reached US$4.6 billion, while the value of imports was US$87 million.
Institutional investors purchase $1.9bn in UAE stocks during 2023
Abu Dhabi, UAE -- Institutional investors boosted their acquisition of domestic stocks in 2023, purchasing nearly AED 7 billion ($1.9...This figure reflects a total purchase of AED 302.7 billion compared to total sales of approximately AED 295.8 billion.
Institutional investors dominated the UAE equity market in 2023, capturing nearly 78 percent of total trading activity.
ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...The collaboration supports Abu Dhabi Industrial Strategy's vision to establish the Emirate as the most competitive industrial hub in the region.
Siemens Energy will support IDB to localize the manufacturing capabilities in Abu Dhabi and provide technological solutions.
Decree issued to form Board of Dubai Corporation for Ambulance Services
Dubai, UAE -- Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum Monday issued a decree for the formation of the...The Assistant Commander-in-Chief for Excellence and Pioneering Affairs of Dubai Police will serve as the Vice Chairman of the Board.
These representatives will be named by the respective heads of these entities. The Board also includes the CEO of Dubai Corporation for Ambulance Services.
Saudi Arabia jumps to second rank in ICT index among G20 nations
Riyadh, Saudi Arabia -- Saudi Arabia jumped 10 ranks to second place among the G20 countries according to International Telecommunication...The index monitors the economies of 169 countries to measure their progress in ICT services through two main pillars ‘universal connectivity’ and ‘meaningful connectivity.
It reflects the robust and developed digital infrastructure, with an increase of 99 percent of Internet penetration rate in Saudi Arabia.
Al Saqr names chairman of board
The insurance firm made a slew of new appointments.Saud Saleh Al-Arifi, an independent member, will be the new chairman of the board of directors
The company named Naif Rashed Alarfaj, also an independent member, as new vice chairman
South Korea posts 32% jump in export of eco-friendly vehicles
Seoul, South Korea--South Korea's exports of eco-friendly vehicles surged 32.5 percent year-on-year to a record high during the first 11...According to the Korea Automobile and Mobility Association, the export of automobiles came to 662,307 units during the January-November period
The export volume of eco-friendly cars last year reached a record high of 554,000, and the value also hit an all-time high of US$1.61 million
FTA issues guide to determine natural persons subject to corporate tax
ABU DHABI, UAE - The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural...The guide provides a comprehensive and simplified explanation and instructions for natural persons earning in the UAE.
The FTA emphasized the importance of understanding the comprehensive content and definitions outlined in the guide.
