Bullish Bitcoin: Halving looms, miners face squeeze
Bitcoin’s mass adoption is growing and projected in the next four years to have around 1 billion users.Business
GCC telecom firms turn to Europe, Asia for expansion
Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home...Business
Saudi Arabia issues record 478 licenses in first quarter
Following a 2018 reform in the Kingdom that allowed for a first time the 100 percent foreign ownership of companies,...In none of the quarters since 2005 has such a number of licenses been issued, according to Saudi investment ministry.
Manufacturing sector accounted for the bulk (114) of new licenses issued followed by e-commerce and construction (78 each).
MENA connectedness ranking rising: Survey
The UAE is the highest ranked in the region, and the fourth country globally, in terms of overall global connectedness.Ranks third among the world’s seven regions and is well above the global average.
UAE is the highest ranked in the region, and the fourth country globally, in terms of overall global connectedness.
ADNOC Distribution H1 net profit $313m
Higher fuel volumes, improvement in non-fuel and commercial gross profit margin and increased operational efficiencies made in the first half...The company’s fuel volumes saw progressive recovery towards pre-COVID-19 levels.
In H1 2021, the company received no objection certificates from the Saudi General Authority for Competition to acquire 35 stations in the kingdom.
Emaar Malls net profit leaps to $169m in H1
The owner of Dubai Mall attributes 80 percent jump in net to recovery in retail sector.Mall operator reports higher visitor spends, online sales
Net profit for January to June 2021 reached 622 million dirhams ($169 million), registering an 80 percent increase
Dubai exports, re-exports to West Africa rise by 42% during H1
Nigeria was the largest West African export market for member companies, accounting for a 32 percent share of the value...Plastics accounted for 31 percent of exports, followed by electrical machinery/electronics (14 percent)
Commodities with the highest untapped potential for export and re-export include polyethylene, sugar cane and rice, trigger batteries.
ADNOC and Fertiglobe to sell blue ammonia to Idemitsu
The sale is part of UAE-Japan industrial cooperation and development of ammonia supply chains.ADNOC sold its first cargo of blue ammonia to Japan's Itochu on Aug. 3.
Sales part of UAE-Japan industrial cooperation and development of ammonia supply chains.
Investors may prefer this new Abu Dhabi license
New license for professionals to be issued by ADDED allows 100 foreign ownership of a business. ADDED also highlighted that...ADDED will also issue a form of service agent agreement to streamline the relationship between partners.
604 activities covered under the license, including accounting, training, consultancy, beauty centers.
Dubai airport to host a million travelers
More than a million passengers are expected to arrive at Dubai International (DXB) over the next 11 days in what...The airport says it is bracing for exceptionally busy weekends
Between August 12 and 22, average daily travelers passing through the DXB gates will peak to around 100,000
Umrah permits for double-jabbed Saudis aged 12-18
Saudi nationals aged 12-18 can obtain Umrah permits if they have received two doses of Covid-19 vaccine, the ministry of...Hajj and Umrah ministry’s announcement follows the inauguration of 2021 Umrah season.
Permits must be obtained through the Eatmarna and Tawakkalna apps.
Pact signed to measure Abu Dhabi workers’ quality of life
The aim of the cooperation is to activate the role of DCD and SCAD within a set of future programs...The agreement will help policymakers, decision-makers to support labor force in Emirati capital.
Need felt for collection of accurate statistics and data related to work environments and workers’ quality of life.
