UAE records more than 25% growth in international card spending in 2023
Dubai, UAE--Total spending using international cards in the UAE witnessed a growth of more than 25% during the year 2023.J.K....Business
Dubai Customs and New Zealand discuss boosting trade ties
Dubai, UAE-- Aiming to boost trade and economic cooperation with New Zealand, Dubai Customs held a meeting with diplomats and...The meeting highlighted Dubai Customs' eagerness to boosting cooperation with trade partners and exploring the future of the business sector amid Dubai's economic resurgence
New Zealand ambassador to the UAE noted the efforts of Dubai Customs in bolstering international trade and boosting trade relations between Dubai and New Zealand
CBUAE balance sheet hit all-time-high of $161 bn by March end
Abu Dhabi, UAE - The balance sheet of the Central Bank of the UAE (CBUAE) surpassed AED594 billion ($161 billion)...The apex bank said that its balance sheet grew by 5.3 percent on a monthly basis to $161.23 billion at the end of March 2023
The bank's balance sheet increased YoY by the equivalent of $21.3 billion, from about $139.82 billion in March 2022
Preventive care focus as GCC healthcare eyes $135bn
The region is prioritizing preventive care to alleviate strain on healthcare resources and infrastructure amidst rise in population and prevalence...The region is prioritizing preventive care to alleviate strain on healthcare resources and infrastructure amidst rise in population and prevalence of non-communicable diseases
Peripheral neuropathy, particularly among those with diabetes, remains a significant concern, with a lack of awareness contributing to underdiagnosis and irreversible damage
Inditex posts record profit
The firm attributed the figures to strong sales which reached $8.15bn.The Spanish group said its net profit jumped 54 percent to 1.17 billion euros ($1.25 billion) in the three-month period ending on April 30.
Excluding a 216 million provision a year ago to deal with the consequences of Russia's invasion of Ukraine, the firm's profits were up 24 percent.
Swedish group to supply ‘green steel’ to Mercedes
Stockholm, Sweden -- Sweden's H2 Green Steel company said Wednesday it would supply German car maker Mercedes-Benz with 50,000 tons of...H2 Green Steel, whose first plant is under construction in northern Sweden, plans to use hydrogen made from renewable energy to produce steel instead of highly coal.
With around 900 kilos of steel needed per car, the contract would enable Mercedes-Benz to produce around 55,000 cars with a lower CO2 footprint.
Wealthy Qataris to spend more on real-estate deals this year: survey
Doha, Qatar-- Rich Qataris are pouring millions of dollars into the country's luxury real-estate market, with residential sector and office...Knight Frank, in partnership with YouGov, looked into the investment pattern of rich individuals in Qatar, with a net worth in the region of US$155 million
The respondents in the survey showed a preference for investment in the residential sector at 37 percent, followed by the office sector at 33 percent
NEOM signs $5.5bn contracts to build housing for growing workforce
Dubai, UAE -- NEOM has finalized contracts worth SAR 21 billion ($5.59 billion) with investors for the expansion of the...The bidders for the first phase of the residential communities include leading Saudi Arabian companies such as Alfanar Global Development.
The temporary accommodations, needed during the construction period of NEOM, are built sustainably as relocatable modular units.
Abu Dhabi curbs use of plastic bags by 95% since ban last year
Abu Dhabi, UAE-- Abu Dhabi has succeeded in curbing the use of plastic bags by around 95 percent since the...Nearly three years back, EAD brought in the single-use plastic policy with the aim of lowering the dependence on plastic items and promoting sustainability and recycling
According to EAD, the carbon footprint of the amount of plastic eliminated is equivalent to 272, 000 tonnes of CO2, which means saving emission from 629,000 barrels
Iran hints at cooperation with Saudi Arabia on ‘peaceful nuclear technologies’
Tehran, Iran-- With the restoration of diplomatic ties between Iran and Saudi Arabia, the talk in government circles in Tehran...A media outlet thought to be close to the Iranian security establishment tweeted that Iran could expand its relations with Saudi Arabia to the nuclear realm
The tweet said that Iran could transfer its "experiences and achievements" to Saudi Arabia in compliance with international laws and under the IAEA supervision
PGA Tour-LIV Golf deal: A profit-driven game changer
US-based PGA Tour and Europe's DP World Tour have partnered with LIV's Saudi sponsors to form a new jointly-owned, profit-oriented...The US-based PGA Tour and Europe's DP World Tour said they had signed an agreement with LIV's Saudi backers that will lead to the formation of a new collectively owned, for-profit
LIV Golf was launched in October 2021 and lured top PGA Tour talent with record $25 million purses and money guarantees, bankrolled by Saudi Arabia's Public Investment Fund
