Investcorp Capital names new CFO
Rohit Nanda, the new CFO, will take up his new job next month.Business
UAE bolsters air cargo industry with launch of ‘CARDS’ data platform
Abu Dhabi, UAE--The General Civil Aviation Authority (GCAA) has launched the Cargo Data Reporting System (CARDS), which provides a range...Business
Among the airlines, SAUDIA Airlines had the fewest complaints in July
Riyadh, Saudi Arabia – A total of 1,873 complaints were filed by travelers against air carriers in Saudi Arabia last...The GACA has released its monthly classification index for air transport service providers, based on the number of complaints filed by travelers to GACA during July 2023
Flynas followed with 29 complaints per 100,000 travelers and a resolution rate of 98 percent, while Flyadeal had 167 complaints per 100,000 travelers
Passenger traffic at Dubai airport jumps 50% to 41.6m in H1
Surpassing pre-pandemic levels, more than 40 million passenger visits were recorded at Dubai international airport in the first half of...The airport operator said it expected demand to soar during the winter season, setting a new record
Dubai airport in 2020 received only 25.9 million passengers, down from the 86 million the previous year.
Qatar partners with African Civil Aviation Commission to boost cooperation
Nairobi, Kenya--African Civil Aviation Commission (AFCAC) and Qatar have signed a partnership agreement to strengthen cooperation in the aviation field.This...Mohamed Faleh Al Hajri, in charge of Civil Aviation Authority, represented Qatar at the 8th Africa and Indian Ocean (AFI) Aviation Week, holding bilateral meetings
He highlighted Qatar Airways' role in connecting Africa with the world, saying that the national carrier operates more than 185 flights per week, linking Africa with Qatar
Sustainable finance helps achieve net-zero emissions
"Together, we are working under the direct supervision of the Central Bank of the UAE to further advance sustainable finance...Six major UAE banks have dedicated over US$51.8 billion in green financing for renewable energy, waste-to-energy, and green technology projects
UBF members will play a critical role in integrating environmental values into business and industrial progress during the upcoming COP28, says its chief
UAE stocks generate strong cash flows as IHC stands out
Abu Dhabi, UAE--UAE stocks generated strong cash flows on Monday as the International Holding Company (IHC) maintained robust performance and...Hit by the low performance of the banking and financial service index, which fell 0.152%, Abu Dhabi's Index FADGI closed 0.248% down at 9,776.340 points
Among the best performers were the Union Properties Company, closing 6.960% higher at AED0.415, followed by the Emirates Reem Investments, closing at AED4.280
SRMG Ventures invests $5m in Anghami, MENA’s music streaming platform
Riyadh, Saudi Arabia - SRMG Ventures, the venture capital arm of the largest integrated media group in the MENA region,...The music and audio sector in the MENA region is projected to reach $700 million by 2026
Anghami boasts 120 million registered users, up from its 75 million users in 2021
CBUAE foreign assets inch up to US$161.22bn in June
Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) has revealed that its total foreign assets increased to...According to the apex bank, foreign securities were down to $45 billion from $46.56 billion at the end of June,, with other foreign assets up to $17.27 billion
The monetary base, according to the CBUAE, grew by 0.1%, climbing from $169.20 billion at the end of May 2023 to $169.42 billion at the end of June 2023
Sukoon Insurance sets up OIWSS
Aim is administration of Employee Money Purchase schemes.OIWSS has established a partnership with Intertrust Group.
OIWSS will be the trustee and the operator of this scheme
$61bn Broadcom-VMware merger cleared
The merger is expected to be completed by the end of Oct.The Competition and Markets Authority last month gave its provisional approval to the deal announced in May 2022.
The CMA found that restricting product interoperability would cause the merged company greater financial losses than gains.
Soniqs wins PUBG Global Series 2 Crown
It claimed $600,000 prize at Gamers8 - The Land of Heroes.Saudi team Twisted Minds came in second and earned US$260,000.
Question Mark, the Russian team, finished third and got US$162,000.
