Digital transfers reshape MENA’s financial landscape
The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong...Business Banking & Finance
British Airways profit soars six-fold
The company said it was 92% booked for the first quarter of 2024.Business
Weeklong realty deals worth $2.91 billion recorded in Dubai
Dubai, UAE -- A total of 3,035 real estate transactions worth AED10.7 billion ($2.91 billion) were recorded during the week...Dubai Land Department said that 158 plots were sold for AED1.27 billion, while apartment and villa sales stood at 2,261, totaling AED5.11 billion.
The top three sales were a land in Al Khairan First worth AED157.08 million, a land worth AED67 million in Island 2, and a AED59 million land in The World Islands.
Ajman, Italian-Czech Chambers discuss investment, business opportunities
AJMAN, UAE - The Ajman Chamber of Commerce and Industry’s (ACCI) discussed with the Italian-Czech Chamber of Commerce in Milan...Ajman Chamber is keen to enhance its international cooperation and diversify its foreign partnerships.
The Chamber discussed the competitive elements provided by Ajman economy and the investment opportunities available.
Dubai International Boat Show highlights local marine industry’s global appeal
DUBAI, UAE -Â Dubai International Boat Show 2023 attracted over 30,000 visitors and industry players from across the globe for...Owners and clients are increasingly interested in innovative technologies that can create a greener yacht.
With brands from 60 countries featured at the show, local manufacturers reported increased business.
UAE Central Bank revokes license of Russia’s MTS Bank
Abu Dhabi, UAE -- The Central Bank of the UAE Friday revoked the license of Russia's MTS Bank's, which was...The bank said that under its supervision, the operations of MTS bank, which is licensed in Abu Dhabi, would be wound down within six months.
Revocation of MTS's license comes weeks after it was added to a fresh round of sanctions by the United States and the UK.
Saudi Arabia to host Global Summit of Real Estate leaders
Riyadh, Saudi Arabia -- Saudi Arabia will host the 42nd edition of the Global Real Estate Summit next December in...The summit is considered the industry's largest annual gathering, which includes real estate pioneers and CEOs of critical real estate companies from all over the globe
The global event will hold several sessions, workshops, meetings, and lectures aiming to deal with the challenges of the real estate industry and available investment opportunities
Expo 2020 likely to add $42bn to UAE’s economy by 2042: Report
The pre-event phase contributed around one-quarter of GVA, the event itself added almost 13%, while the lion’s share of benefits...The Expo is also expected to support approximately 1,039,000 full-time equivalent (FTE) job years, equal to more than 35,000 FTE jobs per annum.
The global event made history as the first World Expo to be held in the Middle East, Africa and South Asia region and the first to be hosted by an Arab nation.
Japan plans export control measures for chip equipment
TOKYO, JAPAN - Japan on Friday unveiled planned export controls on 23 items used to make semiconductors, following US pressure for...The move to curb export of chip equipment comes as Japan confirmed its top diplomat will visit China this weekend.
As the second- and third-largest economies of the world, China and Japan are key trading partners.
Huawei posts 69% fall in profits
Its net profit recorded a drastic drop to US$5.2 billion.Its rotating chairman said that during 2022 Huawei's operations have been hit by a challenging "external environment and non-market factors"
In the US, Britain and Japan, the company's 5G gear has been blocked over security concerns, which Huawei has attempted to dispel
ADNOC Gas records earnings’ rise
ADNOC sold 5% stake in ADNOC Gas to investors through an IPO.In an initial public offering early this month, the energy giant raised $2.5 billion by selling a 5 percent stake in ADNOC Gas to investors
The company in a bourse filing revealed that its pro forma adjusted core earnings for the last year were $8.7 billion, up from $6.6 billion in 2021
Saudi ministries ink MoU with Korean NAVER Group for joint digital projects
Riyadh, Saudi Arabia - The Saudi Ministry of Municipal, Rural Affairs, and Housing and the Ministry of Investment have signed...Naver will help the Saudi Arabian government with digital transformation projects, possibly involving robotics
The company pitched its smart building technology used in the Naver 1784 building during the trip to Saudi Arabia
