Jordanian industrialists call for export diversification
AMMAN, JORDAN – Jordanian industrialists have emphasized the imperative of strategic planning to bolster export diversification, underlining key measures such...Business Economy
Abu Dhabi’s private sector grows by over 35 percent in 2023
ABU DHABI, UAE – The Abu Dhabi Department of Economic Development (ADDED) organized, in collaboration with Abu Dhabi Investment Office...Business Economy Energy Geostrategy Global Uncategorized
Tokyo shares tumble on concern war in Palestine may escalate
Chip-testing equipment maker Advantest sank 4.79 percent to 4,351 yen and chip-making equipment manufacturer Tokyo Electron gave up 3.84 percent...The benchmark Nikkei 225 index dropped 2.03 percent, or 656.96 points, to 31,659.03, while the broader Topix index slipped 1.53 percent, or 35.21 points, to 2,273.54
Traders sold shares across the board, as Israel moved toward launching ground offensive in Hamas-controlled Gaza, which is already facing a deep humanitarian crisis
Artificial intelligence key focus as GITEX 2023 begins
GITEX, Dubai's premier tech event, kicks off its 43rd "Technology Week" at the Dubai World Trade Center, spotlighting the latest...With each passing year, GITEX has consistently exceeded expectations, offering a glimpse into the next frontier of technological evolution
The event also supports technology startups and displays the latest inventions and advanced innovations in information technology from various parts of the world
Merger of Saudi Enaya and UCA okayed
The merger remains subject to regulatory approvals.The two companies had signed a binding merger agreement through a share swap deal, under which UCA will issue a 0.837 common share for each issued share in Saudi Enaya.
On 29 April 2021, Saudi Enaya Cooperative and Amana Cooperative Insurance signed a merger agreement.
Nakilat profit jumps 4.8%
The company's profit swelled to US$327 million in Q3 of 2023.Its earnings per share (EPS) amounted to QR 0.21 as of Sep. 30, 2023, versus EPS of QR 0.20 for the same period in 2022
The company, in March, obtained approval to raise the ceiling for non-Qatari ownership in the company's capital to 100%
Non-oil revenue boost shows GCC’s financial wisdom
The GCC nations exemplify financial prudence. Their continuous efforts to boost non-oil revenues, reform tax policies, and modernize and digitize...GCC countries embark on a transformative economic journey, underpinned by national economic plans
The Gulf economies showcase resilience, recovering from the COVID-19 pandemic amidst global challenges
Solana Foundation joins DMCC Crypto Center as ecosystem partner
DUBAI, UAE: DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has...The partnership compliments DMCC’s existing offerings and collaborations by increasing its members’ ability to develop their concepts using Solana.
Through this collaboration, Solana will offer technical and business development support to DMCC Crypto Centre members.
Dubai’s economy grows 3.2 percent in H1 2023
DUBAI, UAE – The Emirate's economy grew 3.2 percent in H1 2023 to reach US$60.9 billion (AED223.8 billion). The performance...Trade activities achieved an added value of US$14.5 billion in H1 2023, growing by 1.7 percent compared to the same period in 2022.
Trade activities are vital for Dubai’s economy and for the wider region, as they effectively contribute to sustainability and economic prosperity.
Marakeb first firm to develop maritime applications in SAVI cluster
Abu Dhabi, UAE -- The Abu Dhabi Investment Office (ADIO) announced that Marakeb Technologies will become the first anchor company...Marakeb is a technology provider for aerial, ground, and marine applications that has developed and manufactured solutions in the UAE for the past 15 years.
Marakeb will be able to test new technologies at the cluster’s sea testing zone in Mussafah Port, which houses a port and the Abu Dhabi Maritime Academy.
Phoenix set for IPO on ADX
It is the first crypto entity to be listed on a Middle East bourse.The firm specialises in a range of services, from high-performance computing to crypto and cloud mining, data centre hosting, crypto trading, and crypto mining products
The IPO on Abu Dhabi Securities Exchange would be the first privately owned crypto and blockchain entity to be listed on a Middle East stock market
Qatar banker Sheikh Jassim withdraws bid to buy Man Utd
Sheikh Jassim was among the front-runners to buy Manchester United after several rounds of bidding earlier this year, but the...British billionaire Jim Ratcliffe is now set to secure a 25 percent stake in the club for around $1.7 billion
Al Thani's bid was for full control of Manchester United and promised to clear the club's borrowings
