GCC records surge in women’s workforce participation
Driven by resilience, legislation, and determination, the female populace is reshaping the socio-economic fabric of the Gulf countries, a TRENDS...Business
Saudi Tourism Authority, Trip.com Group sign global agreement
BERLIN, GERMANY – Saudi Tourism Authority (STA) and Trip.com Group have announced a significant global partnership, which will drive greater...Business Global Tourism
European Union backs Microsoft’s Activision Blizzard takeover
The deal is also under threat in the US, where last year the Federal Trade Commission launched a legal action...Activision Blizzard's hit titles also include "Candy Crush" and "World of Warcraft". If it goes ahead, it will be the biggest deal ever in gaming if it goes through.
The European Commission, the bloc's powerful anti-trust authority, said the approval was "conditional on full compliance with the commitments offered by Microsoft".
GIG to pay $49m in dividends
This amounts to cash dividend of 54 percent (54 fils per share)The group had announced a net profit of KD 38.2 million ($124.7 million) and earnings per share of 134.56 fils for 2022.
The group had achieved extraordinary profits in 2021 amounting to KD 49.2 million ($160.9 million) resulting from the acquisition of AXA operations in the Gulf region.
FAB summit explores economic opportunities, net zero transition
ABU DHABI, UAE - First Abu Dhabi Bank (FAB) is hosting a one-day summit that brings together aviation thought leaders...FAB recently announced that it would set financed emissions reduction targets across oil and gas, power generation and aviation.
The summit will examine how the aviation sector will play a crucial role in supporting the UAE's objective to achieve net-zero by 2050.
Iraqi Kurds await oil export renewal deal with Turkey
ARBIL, IRAQ- Officials in Iraqi Kurdistan say Baghdad is still waiting to reach a "final agreement" with Ankara to resume...Crude sales were Kurdistan's economic lifeblood, with 475,000 barrels exported daily via the Turkish port of Ceyhan.
The suspension of exports represents a shortfall of around "one billion dollars", analyst Kovand Shirwani said.
Dubai Supreme Council reviews progress in clean energy projects
DUBAI, UAE - Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 76th...The meeting discussed the progress of the Hatta hydroelectric power plant, which DEWA is building and is 70 percent complete.
The meeting also discussed the operation of the region’s first green hydrogen production facility to support diversifying energy sources.
Stock markets advance on US debt, elections
Major stock markets advanced after President Joe Biden said he was "optimistic" about finding an agreement on averting a first-ever...The European Commission boosted its 2023 economic growth outlook for the eurozone but raised the inflation forecast for the area.
European gas prices reached the lowest levels in almost two years as concerns about tight supplies ease heading into the summer.
Dubai’s most expensive ever penthouse sells for $33 million
Dubai, UAE -- Dubai luxury real estate market transactions hit a new high in May, with a four-bedroom penthouse in...The 12,113-square-feet property boasts views of both the Dubai skyline and Bulgari Marina, said Driven Properties, which sold the penthouse.
The number of transactions grew by 17 percent to 8077 in April 2023, from 6898 transactions in April 2022.
DMCC to open office in Mumbai for Indian firms to expand through Dubai
Leveraging DMCC’s strong regulatory framework and reputation within Indian business circles, the office will provide a one-stop solution for Indian...DMCC aims to boost the relationship between the UAE and India in support of the UAE-India Comprehensive Economic Partnership Agreement (CEPA).
Trade between the UAE and India surged 14 percent after the two countries signed CEPA in 2022.
EU boosts 2023 growth outlook for region
BRUSSELS, BELGIUM - The European Commission boosted its 2023 economic growth outlook for the eurozone on Monday but it also raised...The EU executive's spring forecast is more optimistic than that issued late last year, despite inflation proving "stickier than expected".
Brussels also raised the 2024 growth forecast for the 20-country single currency zone by 0.1 points to 1.6 percent.
KEZAD partners with SWS to build polished water plant
By filtering and treating the Treated Sewerage Effluent (TSE), it will remove additional impurities and contaminants, generating non-potable water suitable...The water plant is likely to offer industries easy access to premium recycled water, and lower dependency on potable water.
The plant will help in bringing down the carbon footprint of industries, and enhance environmental consciousness.
