Over 105m people visit Dubai Mall in 2023
DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on...Business Economy
ADNOC partners with Viola Communications
They will utilize outdoor media-leasing spaces for advertising.Business
Eshraq to buyback shares
The share buyback is expected to enhance shareholder value.The shareholders recommended Eshraq increase the shareholder distribution via an increased share buyback program.
The buyback will capitalize on the current share price discount compared to the company’s book value.
ADNOC and TotalEnergies sign agreement to export LNG globally
Abu Dhabi, UAE - ADNOC Gas announced Monday a three-year supply agreement with the TotalEnergies Gas and Power Limited for...Under the deal, ADNOC Gas will supply TotalEnergies LNG, which will be delivered to various export markets around the world.
"This agreement reflects our commitment to meeting the needs of our customers by offering supply security," said CEO ADNOC Ahmed Alebri.
Etihad Cargo introduces weekly flights to fourth Chinese destination
Abu Dhabi, UAE - Etihad Cargo added a fourth gateway destination to its Chinese network with the introduction of weekly...With the start of two weekly freighter services between Abu Dhabi and Wuhan, Etihad Cargo will operate a total of ten freighter services to China.
The flights between Abu Dhabi and Wuhan will give Etihad Cargo's partners and customers greater accessibility to 25 domestic Chinese destinations.
AD Ports Group purchases bulk carriers, crude oil tankers
ABU DHABI, UAE - AD Ports Group has announced plans to expand its fleet by purchasing five bulk carriers and...These vessel acquisitions will follow the recently signed agreements as part of the Group’s strategic global expansion objectives.
The five bulk carriers, to be purchased for AED459 million, form part of the long-term agreement with Saif Powertec, signed in April 2022.
Qatar’s industry PPI down by 2.56 percent in March
The Planning and Statistics Authority (PSA) said Monday , the PPI of March 2023 for the Mining and Quarrying showed...The PPI include four main industry sectors-- mining (82.46 percent), manufacturing (15.85 percent), electricity (1.15 percent) and Water (0.52 percent).
The prices decrease is seen in refined petroleum products by 2.39 percent, followed chemicals and chemical products by 0.95 percent
Bahrain free of India-made ‘contaminated’ cough syrup
Manama, Bahrain - Bahrain has taken steps to ban from its markets the contaminated cough syrups made in India in...The National Health Regulatory Authority (NHRA) on Sunday confirmed that the Kingdom's markets are free of Indian cough syrup
The Authority has reassured the public that it is committed to ensuring the safety of medicines and pharmaceuticals circulating in the Kingdom
US regulators seize First Republic Bank, sell to JPMorgan Chase
With its assets standing at $233 billion at the end of March, First Republic would be the second largest bank...JPMorgan will assume "all deposits, including those uninsured, and a majority of the assets," California's Department of Financial Protection and Innovation said
First Republic had failed to come up with a workable rescue plan and last week disclosed that it had lost more than $100 billion in deposits in the first quarter
Japan’s investment in Egypt soars, but bilateral trade contracts
Cairo, Egypt-- Egypt's trade with Japan dropped 26.3 percent to US$1.1 billion in 2022, but the value of Japan's investments...In 2022, Egypt sent exports worth $261 million to Japan, including fuel, minerals, fruit, iron and steel products, carpets, and animal feed
Japan exported goods worth $889 million to Egypt in 2022, including boilers, machinery, equipment, cars, tractors, bicycles and pharmaceutical products
AD Ports Group buys 5 bulk carriers, 3 crude oil tankers
Abu Dhabi, UAE – AD Ports Group has announced its plans to expand its fleet with the acquisition of five...The five bulk carriers, worth approximately $125 million, will be purchased from Saif Powertec as part of a long-term agreement signed in April 2022
The deal involves the transportation of general bulk cargo between the UAE's Fujairah Port and destinations like the Indian subcontinent and Southeast Asia
Saudi CMA cancels its share in sukuk, bonds trading commission
Riyadh, Saudi Arabia--The Capital Market Authority (CMA) has announced the cancelation of its share in sukuk and bonds trading commission...It is designed to lower costs for participants in the market, boost liquidity and expand domestic investors' based in government debt issues
With this step, the CMA hopes to develop a diversified financial sector and create an advanced capital market in line with the Vision 2030 objectives
