EGA to acquire Leichtmetall
EGA is to buy 100 percent of firm from Leichtmetall Holding.Company News Business Global
Twitter website replaces bird logo with X, rebrand yet to be finalized
The social media network's website showed the company's new logo, but its URL was still showing as twitter.com and the...Twitter has been using avian branding since its early days, when it bought a stock symbol of a light blue bird for $15.
Musk changed his profile picture late Sunday to the company's new logo, which he described as "minimalist art deco,"
Strong growth key to GCC’s FDI appeal
Saudi Arabia has reentered into this year's Kearney FDI Confidence Index, which ranks the markets likely to attract the most...The optimism stems from strong economic growth, which is expected by IMF to reach 3.6% in 2023, higher than the global average of 3.3%.
The GCC region is especially ripe for FDI, as the high demand for oil and gas is expected to continue to spur the growth of economies in the region.
PIF establishes company for developing Ajwa dates products
Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund, announced Sunday it has established Al Madinah...MHC will focus on promoting and distributing Ajwa dates both locally and internationally in addition to other date varieties to meet growing global demand.
The company will also contribute to the wider development of sustainable agriculture in the Madinah region through the adoption of the latest agricultural technologies.
ANB profit up 51 percent in H1
The growth was backed by net special commission income.The bank reported an increase in the net provisions for expected credit losses and other provisions.
The second-quarter net profit jumped 39 percent to SAR 986 million from SAR 707.69 million in Q2 2022.
Dubai Customs processes over 14m transactions in first six months of 2023
DUBAI, UAE - Keeping pace with the UAE’s strong economic growth, Dubai Customs cleared 14 million customs transactions during the...Dubai Customs revealed that business registration service transactions went up 7 percent, recording 143,000 service requests.
Customs declarations stood at 12.3 million transactions, accounting for 88 percent of the total number of customs transactions.
Dubai seeks to unleash high-powered growth for its family business sector
DUBAI, UAE - In Dubai’s economic growth story, family businesses stand tall as architects of growth, innovation and value creation....The government is introducing initiatives to future-proof family businesses and bolster their competitiveness and growth capabilities in a global environment.
Dubai has introduced new legislative measures aimed at helping them navigate the challenges and opportunities brought by a global economy in transition.
Twitter challenger Threads struggles for traction
Twitter continues to dominate its space as a platform for online comment and news, and Musk "would have to completely...The average amount of time people spend on Threads daily has plummeted more than 75 percent since the platform made a rock star debut on July 6
Threads has a lot to prove, and features to add, to become a formidable Twitter alternative, according to Insider Intelligence analyst Jasmine Enberg
Saudi Fund for Development commits $10m to boost tourism in Bahamas
Riyadh, Saudi Arabia -- The Saudi Fund for Development (SFD) and Bahamas have signed a $10 million agreement to build...Nassau Island set to accommodate 50 small businesses, Exuma Island to house 25 small businesses, and Grand Bahama Island to host an additional 25 small businesses.
This is SFD's inaugural foray into The Bahamas, making it the 89th country to receive funding for a development project from SFD.
Arab SWFs accelerate dealmaking amid scarce funding
Joint investments by sovereign funds hit a record $17.2 billion in H1 this year as Gulf states fund global equity...Joint investments by sovereign funds hit a record $17.2 billion in H1 this year as Gulf states fund global equity firms, including KKR & Co., EQT AB, and Brookfield
Middle Eastern investors, including the Abu Dhabi Investment Authority and Mubadala Investment Company, are planning to invest billions in high-profile acquisitions
Arab-Indian Chamber of Commerce to be unveiled soon
NEW DELHI, INDIA - A Joint Arab-Indian Chamber of Commerce is to be “activated” soon.This was announced in the “Delhi...This was announced in the “Delhi Declaration” at the conclusion of the sixth India-Arab Partnership Conference in New Delhi
Setting up of the Chamber was decided during an earlier session of the India-Arab Partnership Conference held in Muscat
