UAE’s e-commerce sector projected to earn $9bn revenue in 2024
Dubai, UAE - The UAE's online shopping market is gearing up for unprecedented growth, with revenue projections hitting $9 billion...Business
Non-Jordanian investors own 47% of ASE market value as of February 2024
AMMAN, JORDAN – Data released by the Amman Stock Exchange reveals that non-Jordanian investors bought shares worth US$12.5 million (JD8.9...Business Markets
UAE Investors Council, EECB sign MoU to boost partnerships
Cairo, Egypt - The UAE International Investors Council (UAEIIC) and Egyptian-Emirati Business Council (EEBC) will work together to enhance the...The two councils would work together to score investment opportunities in multiple areas including technology.
Both the parties are likely to seek partnerships between the business communities and companies of private sector.
Leading games developer MY.GAMES makes Abu Dhabi its MENA base
Abu Dhabi, UAE - AD Gaming has expanded its gaming ecosystem by welcoming MY.GAMES to Abu Dhabi, marking the latest...Headquartered in Amsterdam, MY.GAMES is a leading publisher and developer of mobile, PC, and console games, with over one billion registered users worldwide
MY.GAMES’ will work on over 70 games across the company’s portfolio, including genre-defining titles such as War Robots, Rush Royale, and Hustle Castle
Allen & Overy to merge with US peer
The merged firm will have a combined revenues of $3.4bn.The new group, called Allen Overy Shearman Sterling or A&O Shearman, was "truly a game-changing moment for both firms".
The merged firm will have around 3,900 lawyers and about 800 partners across a total of 49 offices worldwide.
East Pipes, Aramco sign $480m contract
The firm will manufacture pipes for the global energy giant.East Pipes said the financial impact of the 12-month contract will show in the second half of 2023 and the first quarter of 2024.
On 14 May, the company signed a contract with Abdullah Ibrahim Al Sayegh & Sons, valued at SAR81 million, for supplying steel pipes to the firm.
Brazil’s exports to Arab countries $5.16bn in four months, up 10%
Dubai, UAE -- Brazilian exports to Arab countries during the first four months of this year have increased by 10.33...The main exported products from Brazil to the Arab World were sugar, poultry, beef, maize, and soybeans.
Beef exports from Brazil to Arab countries amounted to $356.06 million, with Egypt leading the list with $115.59 million worth of exports.
Maaden Q1 net profit down 81%
The company posted a net profit of $111 million.The company said in a statement that the net profit was impacted by lower EBITDA of SAR 2.18 billion (Q1 2022 SAR 4.40 billion).
Argaam reported that the decline in profit was driven by lower average selling prices of all products except gold and higher cost of sales.
DEWA, WeGO discuss cooperation to achieve sustainable development goals
Dubai, UAE--Dubai Electricity and Water Authority (DEWA) is looking to cooperate with World Smart Sustainable Cities Organization (WeGO) in urban...The two sides discussed cooperation in urban sustainability, smart technologies and innovative solutions to achieve sustainable development goals
DEWA CEO underscored the company's plan to achieve the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050
Ryanair posts bumper profits
Its profit was US$1.5bn in the 12 months to the end of March.Profit after taxation soared to $1.5 billion in the 12 months to the end of March, after a net loss of 355 million euros in its previous financial year, Ryanair said
Revenues more than doubled to 10.8 billion euros on rising fares, as the group reported "strong market share gains" in Italy, Poland, Ireland, Spain and elsewhere in Europe
Data democratization a ‘game-changer’ for businesses
Experts highlight need for data literacy, good governance, and stringent security measures as data democratization revolutionizes decision-making in businesses in...Experts highlight need for data literacy, good governance, and stringent security measures as data democratization revolutionizes decision-making in businesses in the region
Businesses in the region urged to take data security measures like threat detection, encryption, and anomaly detection as essential drills in this era of data democratization.
Saudi Arabia to invest $3bn in three new solar projects
Riyadh, Saudi Arabia ‒ The Public Investment Fund (PIF) owned Water and Electricity Holding Company (Badeel) and ACWA Power are investing $3...The solar projects are part of the National Renewable Energy Program (NREP) which is led and supervised by the Ministry of Energy
These projects intend to produce a combined capacity of 4.55GWac of renewable energy, powering approximately 750,000 households
