Supply chain challenges hit Ramadan retail rush
Logistical adaptations, strategic planning, and forecasting essential for addressing the unique demands of increased consumption during Ramadan, says Aramex's Tarek...Business
CI Capital 2023 revenue $134m
The firm’s performance was fueled by strong growth.Company News Business Banking & Finance
Iraq plans ambitious Europe-Middle East road, rail project
Iraq presented an ambitious plan to turn itself into a regional transportation hub by developing its road and rail infrastructure,...War-ravaged and beset by rampant corruption, oil-rich Iraq suffers from dilapidated infrastructure.
Developing the road and rail corridor would allow Iraq to capitalize on its geographical position.
EIB lends US$3.6bn to circular economy projects
BRUSSELS, BELGIUM - The European Investment Bank (EIB) lending to circular economy projects has consistently increased over the years, amounting...EIB has been building partnerships with multilateral development banks and civil society organizations to accelerate the transition to a circular economy.
EIB said there can be no transition to a carbon-neutral economy without a change to a circular economy where resources are in use for as long as possible.
More than 1,800 new companies set up businesses in RAKEZ in Q1
Ras Al Khaimah, UAE--More than 1,800 new companies have set up their businesses in Ras Al Khaimah Economic Zone (RAKEZ)...Ramy Jallad, CEO of RAKEZ, said that the emirate has positioned itself as a preferred hub for international traders due to its business-friendly ecosystem
A large chunk of investors setting up businesses in the economic zone come from India, Pakistan, UK, Russia and Egypt, demonstrating its global appeal
Dubai Municipality unveils new online system for building permits
Dubai, UAE-- Seeking to enhance the emirate's position as a global pioneering city in adopting the latest technology in the...Aligned with the updated Dubai Building Code, the new system will provide smart and integrated services and solutions while implementing automated checks
Complying with the latest BIM standards and geographic information systems, it will facilitate user registration through digital ID and instant recognition
SPC Free Zone signs contracts with publishers from Sweden, Egypt and Algeria
Sharjah, UAE--The Sharjah Publishing City Free Zone (SPC Free Zone) has signed more than 10 partnership agreements with publishers from...The free zone since its founding in 2017 has hosted companies and institutions working in the publishing, printing, and distribution fields
It held meetings with more than 50 publishers from around the world, underscoring the emirate's efforts to support the publishing and creative industries
UAE-India partnership a driver for economic growth: Al Marri
Speaking at an event in New Delhi, Abdullah bin Touq Al Marri, the UAE’s Minister of Economy, said that the...The minister said that the two countries were speeding up efforts to develop both economies and adopt plans that support vision for expansion
Al Marri noted that the UAE is interested to support Indian government's plan to lift the country's GDP to US$5 trillion by the year 2025
RAKEZ highlights Ras Al Khaimah’s potential to Chinese business owners
RAS AL KHAIMAH, UAE - A top-level delegation from Ras Al Khaimah Economic Zone (RAKEZ) recently concluded its trip to...The RAKEZ delegation interacted with prominent Chinese business owners from a range of sectors.
The team traveled through Shanghai, Suzhou, Qingdao, Tianjin, Guangzhou, Foshan, and Zhuhai.
Dubai records weeklong real estate transactions worth $3.02 billion
Dubai, UAE -- A total of 3,321 real estate transactions worth AED11.1 billion ($3.02 billion) were conducted in Dubai during...The DLD report showed that 220 plots were sold for AED 2.54 billion, 2,398 apartments and villas were sold for AED 5.85 billion.
Wadi Al Safa 3 recorded the most transactions for this week by 61 sales transactions worth AED 728.44 million.
PIF sets up firm Badael to curb tobacco use in Saudi Arabia
RIYADH, SAUDI ARABIA- The Public Investment Fund (PIF) announced the establishment of Badael Company, which aims to develop, manufacture and...Badael aims to address the negative impact that smoking has on the well-being of the Saudi population.
The company’s products are expected to help nearly one million people give up smoking by 2032.
East Pipes net profit $26.63m
The company had posted a loss of 3.2 million riyals the previous year.The growth in net profit was driven by a 141 percent year-on-year (YoY) surge in revenue to SAR 1.4 billion.
The company's board also announced that SAR31.50 million in dividends was distributed to the company's shareholders.
