‘Global Collaboration Village aims to digitize and democratize WEF dialogues’
DAVOS: The future of global collaborations is being shaped by innovation and the ubiquitous embrace of immersive technologies, which continue...Technology Business Economy
Wheels in motion for investors as two Gulf carriers plan 2025 IPOs
UAE's Etihad Airways and Saudi Arabia's Flynas are preparing to listing on local stock markets, the first IPO by Gulf...Business
Sharjah Civil Aviation Department and WFP sign aviation-safety agreement
Sharjah, UAE--The Sharjah Civil Aviation Department (SCAD) and the United Nations' World Food Programme (WFP) have signed an agreement to...The WFP's Regional Aviation Safety Office will hold training sessions, seminars, conferences, and special projects, in order to benefit both parties
The Sharjah Civil Aviation Department will send qualified lecturers and trainers to conferences, workshops, and other events hosted by the WFP
LNG trade to grow 25% to 500m tons in 5 years: IEF
According to a report "Fragile Equilibrium: LNG Trade Dynamics and Market Risks" China has surged ahead of Japan to become...LNG's share of gas demand in Europe rose from 12 percent a decade ago to more than 50 percent
Faced with the sudden loss of pipeline gas, Europe turned to LNG to fill the void, sending prices up
UAE warns of visa ban over job loss insurance fines
ABU DHABI, UAE - Some employees who failed to meet an October 1 deadline to sign up to the UAE's...Subscribers to the unemployment insurance scheme can make a single payment to cover the year's subscription or quarterly or monthly payments.
The policy aims to provide a vital safety net for workers in the public and private sector if they lose their job.
Alstom to cut 1500 jobs
Alstom said it aims to cut debt by 2 billion euros by March 2025.Alstom posted last month a negative cash flow of 1.15 billion euros ($1.25 billion) in the first half of its fiscal year.
The group said it was working on a "comprehensive operational, commercial, and cost efficiency plan" to reinforce its balance sheet.
Dubai plans bigger airport as passenger traffic continues to increase
"Once we've reached about 120 million (passengers a year), which is what we think our total capacity at DXB (Dubai...Dubai Airports CEO Paul Griffiths said designs were being drawn up for Al Maktoum International Airport, which will be built on the city's outskirts
Third-quarter traffic was 22.9 million, the highest since 2019, taking 2023 numbers so far to 64.5 million, nearly 40 percent higher than the same period in 2022.
ADNIC reports $82m profit
This marks 16% increase compared to the same period last year.The company's focus on market-leading underwriting and investment performance resulted in a net profit of AED 301.9 million
ADNIC's recently announced its intent to acquire a 51% stake in Allianz Saudi Fransi Cooperative Insurance Co
EDGE bags $1.1bn UAE defense ministry munitions contract
Dubai, UAE -- EDGE, one of the world's leading advanced technology and defense groups, announced that it bagged an AED...EDGE entity LAHAB DEFENCE SYSTEMS, the UAE’s sole munitions manufacturer, was awarded the contract.
It includes the production and delivery of the MK 81, MK 82, MK 83, and MK 84 general-purpose aircraft munitions.
Emirates, Safran sign pacts worth $1.2bn
Latest generation Safran Seats for new Emirates Airbus fleet part of the deal.The new seats will offer a host of enhancements that set a new standard for comfort, privacy and convenience.
Safran Landing Systems will be supplying high performance wheels and carbon brakes for the Emirates A350 fleet.
Mawani, CMA CGM Group lay foundation for logistics park at Jeddah Islamic Port
RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) and CMA CGM launched on Wednesday a new logistics park at...The new logistics park will offer solutions and integrated environmental services and systems.
It will offer an export center, storage and sorting services and refrigerated storage services.
Saudi inflation in Oct slightly down amid economic challenges
Riyadh, Saudi Arabia -- Saudi Arabia's consumer price index experienced a slight decrease in October, dropping to 1.6 percent from...The General Authority for Statistics reported that this decrease in inflation was primarily due to a 0.8 percent reduction in personal goods and services expenses.
The prices for furnishings and household equipment saw a monthly decline of 0.3 percent, alongside a similar decrease in clothing and footwear expenses.
