Gulf aviation industry sets sky-high standards
"The demand from certain sectors indicates a strong interest in First Class, prompting us to introduce a newly-designed First Class...Business
Vodafone sells Italian unit to Swisscom
British telecoms giant sold the business for US$8.7 billion.Business
KSA outsources work worth US$693m for achieving Saudi Vision 2030
RIYADH, SAUDI ARABIA - The Minister of Human Resources and Social Development and Chairman of the Board of Directors of...The minister said by executing many projects, the non-profit sector has contributed to achieving national development.
He said one of the achievements has been the development of the incorporation procedures of non-profit organizations within four days.
Dubai Land Department unveils real estate investment trusts
DUBAI, UAE - Dubai Land Department (DLD), through the real estate development sector, has launched the real estate investment trusts...The move aims to provide incentive benefits to encourage REIT to consider various projects across Dubai.
The aim is also to increase investment in the market by achieving a long-term capital return for shareholders.
Saudi Arabia’s Al-Hilal signs Wolves captain Neves for reported $60m
Neves, who arrived at Wolves from Porto, had one year on his contract left at Molineux. He joins in the..."From the 'Wolves' to the biggest team in Asia," Al-Hilal announced on social media after the player signed a three-season deal in Paris
Neves leaves Wolves after six seasons for "a club record fee", the Premier League side announced, reported to be around 55 million euros
Blockchain startup Metatime raises $25m in investment
New York, United States - Metatime, a blockchain technology company, has so far raised $25 million through crowdfunding, pre-sales, and...The investors included Yildiz Tekno Venture Capital Investment Trust, Yildiz Technical University Technopark, and telecommunications and financial institutions
Metatime aims to integrate blockchain solutions into various sectors such as energy, tourism, insurance, CRM, advertising, cybersecurity, and virtual reality
Insurance becomes mandatory for foreign vehicles entering UAE
Abu Dhabi, UAE-- The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) has made it mandatory for foreign...In order to make it easier for vehicle owners to posses insurance cover, the authorities will provide them with online access to the platform to buy insurance
The vehicle owners can access the service on the ICP's website or by downloading the "Shory Aber" application available for iOS and Android devices
VR, AI help executive education flourish across GCC
Executive education in GCC countries is being driven by economic diversification and technological trends, Peter Zemsky, Deputy Dean of INSEAD,...Executive education in GCC countries is being driven by economic diversification and technological trends, Peter Zemsky, Deputy Dean of INSEAD, tells TRENDS.
Amidst rapid technological changes, business education plays a pivotal role in equipping leaders and fostering a culture of continuous learning, adds Zemsky
Dubai’s weeklong real estate transactions exceed US$4.2bn
DUBAI, UAE - A total of 4,048 real estate transactions worth over US$4.2 billion (AED 15.6 billion) were conducted during...The records show that 278 plots were sold for US$473 million, while 2,965 apartments and villas were purchased for US$1.9 billion.
The top transaction was that of a plot of land in Wadi Al Safa 3 which sold for US$24 million, the records revealed.
Siemens Energy shares fall due to technical problems at wind turbine unit
FRANKFURT, GERMANY -  Shares in Siemens Energy plummeted on Friday after the company warned that technical problems at its wind turbine...Siemens Energy said it was setting aside over US$1.1 billion over the coming years to fix the issues at troubled wind turbine subsidiary Siemens Gamesa.
Shares in Siemens Energy plunged by more than 30 percent shortly after trading opened in Frankfurt, and ended the day about 37 percent lower.
DP World, Pelindo and INA sign deal
They will more than double Indonesia's BNCT's capacity to 1.4m TEUs.The expansion and modernization program will strengthen BNCT's position as a major trade and logistics gateway in the Malacca Strait, DP World said.
DP World will also work with its partners to connect other terminals and small ports on the Island of Sumatra.
UAE banks’ total capital, reserves rise to US$118.5bn by April-end
ABU DHABI, UAE - Aggregate capital and reserves of banks operating in the UAE rose by 10 percent year-on-year (YoY)...National banks accounted for 86 percent of the total capital and reserves of banks operating in the UAE, which stood at US$102 billion by April-end.
Share of foreign banks in aggregate capital and reserves of banks operating in the UAE settled at 13.6 percent, reaching US$ 16 billion by April-end.
