Glencore 2023 profit down 75%
The company said lower energy prices cut into its profits.Company News Business
Dubai food and beverage sector stirs up with investment of US$577m
Dubai, UAE-- The food and beverage sector in Dubai has attracted new FDI worth $577 million from 2019 to 2023,...Business
UAE, UK sign agreement to cooperate in the energy sector
ABU DHABI, UAE - UAE Ministry of Energy and Infrastructure signed a Memorandum of Understanding (MoU) with UK Department for...The agreement aims to exchange information, knowledge, expertise and studies in the field of energy
The MoU aims to enhance strategic and technical cooperation in the energy sector, develop renewable energy technologies including regulatory frameworks and incentives.
UAE Tax Policy ranks fourth on World Competitiveness Yearbook 2022
Dubai, UAE: The United Arab Emirates ranks fourth on the list of 63 economies around the world in the Tax...Published by Switzerland-based International Institute for Management Development (IMD), the World Competitiveness Yearbook assesses and ranks 63 economies around the world.
The UAE place on the Yearbook depicts the country’s total contribution to GDP with its taxes, its stable rates of inflation, low tariffs and balanced price indexes.
Building permissions issued by Qatar fall by 18 percent in Dec
Doha, Qatar-- The number of building permits issued in Qatar in December 2022 decreased by 18 percent (527 permits), compared...The decrease was noted the most in the municipalities of Al Rayyan (47 percent), Al Khor (37 percent), Al Shammal (25 percent.
permits. Villas top the new residential buildings permits list, accounting for 83 percent (120 permits) in the residential sector.
Gulf markets, except Kuwait and Qatar, end higher
The Saudi market's general index, TASI, rose 1.19%, Dubai Financial Market 0.47%, Abu Dhabi Stock Market Vadax 15 index 0.133%...Fifteen sectors rose on the Saudi Stock Exchange, led by banks at 2.37 percent, capital goods 1.64 percent, energy 0.93 percent.
In the Dubai Stock Exchange, the industry sector increased by 1.2 percent, followed by the real estate sector by 0.9 percent, the consumer goods sector by 0.44 percent,
Al Seer Marine unveils MEGA II
MEGA II is the world's largest 3D printer, the company said.The technology will enable engineers to develop large-scale boats and products that are in high demand.
The global additive manufacturing market size was valued at $13.84 billion in 2021 and is expected to reach $44.03 billion by 2027.
Global conference on Pharmaceutical Technologies concludes in Dubai
DUBAI, UAE - The 28th edition of the Dubai International Pharmaceutical Technologies Conference and Exhibition (DUPHAT) 2023 concluded. The three-day event,...The largest-ever edition of DUPHAT, the 2023 event brought together more than 1,100 exhibiting companies.
The event also discussed on how countries in the region can collaborate to enhance partnerships in the pharmaceutical industry.
DEWA organized 157 health, safety training sessions for employees in 2022
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has organized 157 training courses and awareness sessions on occupational health...DEWA organized its 20th Internal Health and Safety Week which featured various activities in aspects of occupational health and safety.
DEWA continues to upgrade the expertise of its staff to reach the highest levels of excellence and quality through ongoing training.
Dubai records over $517 million in realty transactions Thursday
Dubai, UAE--Dubai real estate market recorded transactions worth AED1.9 billion ($517 million) on Thursday, Dubai Land Department said.These included 432...These included 432 sales worth AED1.45 billion, in addition to 73 mortgage deals of AED464.03 million, and 20 gift deals amounting to AED18.34 million.
The sales included 342 villas and apartments worth AED1.06 billion, and 90 land plots worth AED384.09 million.
China operates first domestic Boeing 737 MAX flight since 2019
China grounded the plane after two deadly accidents involving the model in 2018 and 2019. An Ethiopian Airlines flight crashed...The China Southern Airlines flight left the city of Guangzhou in the afternoon headed for Zhengzhou
A second 737 MAX flight took off from Guangzhou later on, flying to the central city of Wuhan
US SEC charges crypto firm owned by Winklevoss twins
The charges came as US officials crack down on the sector after the uproar caused by the bankruptcy of FTX...Genesis and Gemini offered unregistered securities to the public, bypassing disclosure requirements designed to protect investors, said SEC Chair Gary Gensler
Gemini was founded by Tyler and Cameron Winklevoss who were made famous as jilted investors in the movie, "The Social Network" about the birth of Facebook
