Saudi Arabia transfers 8% Aramco stake to PIF-owned firms
Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's...Business Economy Energy
Trailblazing women transform finance in Arab world
Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.Business Banking & Finance
UAE growing EV charging stations from 500 to 800
Abu Dhabi, UAE - The UAE is growing the number of Electric Vehicle (EV) charging stations from 500 to 800...Recent years have seen the UAE make a push towards adoption of electric vehicles
The country's EV market is expected to grow at a CAGR of 30 percent until 2028
UAE begins talks with Thailand under CEPA to boost trade
Seeking to widen its foreign trade and grow national economy, the UAE has signed Comprehensive Economic Partnership Agreement (CEPA) negotiations...The UAE has signed four agreements with India, Israel, Indonesia and Turkey, with the first two having already come into force
The country is holding negotiations with many other nations in the neighborhood and beyond to arrive at similar agreements
Burjeel Holdings Q1 profit $33m
The company posted Q1 revenue of US$299 million.Firm's revenue increased by 11.6 percent year-on-year and net profit by 43.4 percent reflecting strong growth.
Burjeel Holdings continue to review partnership opportunities in the Middle East and Africa region.
Carrefour now opens in Israel
French retailer is first foreign supermarket chain in Israel.Simmering rage over costs and income inequality dominated the country's elections in November.
Inflation hit 5.2 percent year-on-year, the central bank said in April, a record high for Israel in over a decade.
Saudi Arabia to boost maritime cooperation with South Korea, Qatar
Riyadh, Saudi Arabia - A delegation of Saudi Arabia discussed steps to enhance cooperation in maritime transport and ports with...Saudi Arabia and South Korea inked a deal to promote mutual recognition of the certificate of competency of seafarers from both countries.
The agreement is likely to streamline the seafarers' business process flows between Saudi Arabia and Korea.
Global tourism industry is on track to reach pre-pandemic levels
MADRID, SPAIN - The World Tourism Barometer published its second report of the year, which showed that international tourism is...During Q1 2023, twice as many people traveled internationally than in the same period of 2022, with 235 million estimated tourists.
The report revealed that international arrivals have reached 80 percent of pre-pandemic levels in the first quarter of 2023.
Fertiglobe Q1 net profit $135m
The company posted Q1 revenue of US$694 million.Fertiglobe reported free cash flow of $271 million in the first quarter.
The firm continues to have a strong order book for the coming months.
DEWA announces pilot use of ChatGPT on its website
Dubai, UAE: Dubai Electricity and Water Authority (DEWA) announced the pilot use of ChatGPT, since April 2023, on its website...DEWAt is the first utility in the world and the first government organisation in the UAE to use ChatGPT
The step has been taken as part of the company’s strategy to employ Artificial Intelligence
Credit Suisse CEO to join executive board after takeover: UBS
Koerner will be the only executive from Credit Suisse to remain on board after the bank is absorbed by UBS....Swiss-German Koerner held top positions at UBS for a decade before jumping ship to Credit Suisse last year with the tough task of reviving the troubled bank
With his knowledge of both organisations, Ulrich Koerner will be responsible for ensuring Credit Suisse's operational continuity and client focus, UBS said
Qatar’s Hamad International Airport passenger traffic soars 44.5% in Q1
Doha, Qatar— More than ten million passengers traveled through Qatar’s Hamad International Airport in the first quarter of the current...Some 3.56 million passengers arrived at the airport in January, followed by 3.24 million in February, and 3.5 million passengers in March
During the first quarter of the year, the airport handled more than 540,000 tons of cargo and transferred some 8 million bags
