UAE announces reduction in fuel prices for January
ABU DHABI, UAE - The prices of petrol and diesel are set to decrease in the country in January following...Business Economy Energy Geostrategy
Saudi AZM gets independent director
Omar bin Fahd Al-Sunaidi's term will extend until Jun 2026.Business
Ajman Free Zone adds 867 companies in H1
Ajman Free Zone (AFZ) has registered a growth of 35 per cent in the number of new registered companies during...Health sector registers 84 percent growth in the number of new companies.
70 percent growth in Chinese retail market while the number of AFZ’s key partners rises to 48.
Bahrain invites bids for BIA Cargo Express Village project
The request for proposal has come from the Bahrain Airport Company, with the deadline for submitting the bids being September...The work includes the construction, testing, and commissioning of Phase 1-A of the Cargo Express Village
Bids will be open to only Grade A and Grade AA building contractors registered with the Bahrain’s Ministry of Works
Dubai Economy issues 3,243 trader licenses in H1
Trader License enables freelancers and start-ups to conduct businesses online and across social networking accounts.Trader License enables freelancers and start-ups to conduct businesses online and across social networking accounts.
Males account for 63 percent of the licenses issued and IT tops the list of activities.
Aramco net income rises to $25.5 billion in Q2
Higher oil prices and a recovery in demand, easing of COVID-19 curbs, vaccination campaigns, stimulus measures, and accelerating activity in...The company announces a dividend of $18.8 billion.
Higher oil prices and a recovery in worldwide demand, easing of travel restrictions drive the rise in income.
MG Cars unveils first ever all-electric SUV in Qatar
The electric car is capable of travelling for 335km NEDC on a single battery chargeStylish, compact SUV is first pure electric model from MG in the Middle East
The electric car is capable of travelling for 335km NEDC on a single battery charge
Retail coffee prices rise as frost hits Brazil produce, freight costs go up
Arabica coffee on the ICE Futures US exchange has doubled in price over the last 12 monthsThe Covid-19 which caused shipping logjams has also contributed to cost escalation by pushing the freight costs to record levels
Arabica coffee on the ICE Futures US exchange has doubled in price over the last 12 months
Aramco likely to post bumper profit for Q2
Aramco is expected to post a bumper profit for the second quarter of this fiscal on the back of high...Bank of America predicts a net profit of $24 billion in the second quarter, up 16 percent from the previous three months
JPMorgan estimates $23.7 billion, while Alrajhi Capital is expecting Aramco to report $25.3 billion
SVC provides 75 startups with nearly $250m
Saudi Venture Capital Company (SVC) has funded nearly 75 startups since its birth in 2018, providing them with about $250...SVC has $750 million to invest and has deployed around $250 million thus far: CEO Nabeel Koshak
The company is currently focusing on sectors that lack funding, such as the health and industrial sector: Koshak
Saudi Arabia gets a pat on the back from US
Saudi Arabia has received warm praise about its improved rankings on a number of global lists from the US State...It highlights the great progress made by the kingdom in its ‘investment and business climate’ over the past two years
Efforts to provide more jobs for Saudis and diversify the economy raised some concerns in the annual Investment Climate Statements
SABIC’s net profit shoots up to 2.04bn
Saudi Basic Industries Corp. (SABIC) has reported a big jump in second-quarter profit as it sold more chemicals at higher...Net profit jumped 57 percent to $2.04 billion in Q2
Selling prices increased 10 percent, sales volumes rose 3 percent
