Dubai to host the world’s biggest ‘airport industry show’ in May
Dubai, UAE-- In the month of May scores of airport developers, officials, and suppliers from around the world will troop...Business
Oil may rise to $100, gold to hit $3,000 by 2025, says Citi
ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce...Business Economy Markets
DEWA wins award at Global Excellence Assembly Awards 2022
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has been awarded  with the Global Excellence Assembly Awards 2022, based...DEWA is the only entity worldwide to win this category in the second round of the award this year.
DEWA scored 94 percent in the evaluation conducted by the International Council of Excellence according to the Baldrige model.
Dubai records over $762 million in realty transactions Thursday
Dubai, UAE---Dubai real estate market recorded deals worth AED2.8 billion ($762 million) on Thursday, Dubai Land Department said.These included 516...These included 516 sales transactions worth AED1.73 billion, in addition to 71 mortgage deals of AED596.74 million.
The sales included 455 villas and apartments worth AED1.5 billion, and 61 land plots worth AED235.09 million.
Saudi Arabia, Clarity AI ink MoU to develop sustainability in private sector
Under the MoU terms, the Ministry of Economy and Planning and Clarity AI will work together to explore potential areas...Under the MoU terms, the Ministry of Economy and Planning and Clarity AI will work together to explore potential areas of cooperation, such as using big data
They are discussing cooperation in training Saudi cadres to understand and analyze sustainability data, and participate in events and activities of common interest
More political storms for TikTok after US government ban
Owned by Chinese tech giant ByteDance, TikTok has become a political punching bag for US conservatives who allege that the...Democrats have joined the groundswell of criticism and Joe Biden last week signed a new law that bans the use of TikTok on government-issued devices
The mood towards TikTok soured last month when ByteDance was forced to admit that employees improperly accessed TikTok data to track journalists
Abu Dhabi Islamic Bank raises its ownership in ADIB Egypt to over 52%
ADIB stated that it had acquired 9.6 million shares from National Investment Bank, in a disclosure to the Abu Dhabi...ADIB stated that it had acquired 9.6 million shares from National Investment Bank, in a disclosure to the Abu Dhabi Securities Exchange (ADX) on Thursday
In the third quarter of last year, ADIB reported its highest quarterly net profit of more than $0.27 billion as impairments dropped and operating income rose
Samsung Electronics flags sharp Q4 profit drop on falling demand
to further tighten finances spurred by concerns over deteriorating consumer sentiment caused [by] continued high global interest rates and weak...The South Korean tech giant said operating profits for the October-December period likely slumped to $3.4 billion, a stinging year-on-year drop from 13.87 trillion
In a statement, Samsung said fourth-quarter profits were "well below current market expectations", blaming the performance on macroeconomic issues
Gold jumps out of the gate to kick off 2023
Traders' conviction at the beginning of a new trading year always tends to be low for fear of catching the...Gold, together with silver and platinum, is among a few commodities trading up as the new year gets under way, writes Ole S Hansen, the Head of Commodity Strategy at Saxo Bank
Gold’s newfound resilience and momentum from December has been carried over to January as investors seek shelter from what has been forecast to be another overall challenging year
Lawyers protest in Tunisia against new taxes on legal services
Tunis, Tunisia - Dozens of Tunisian lawyers protested on Thursday against newly imposed taxes on legal services, part of a 2023...Led by Bar Association head Hatem Mziou, lawyers gathered outside the Palais de Justice in Tunis as well as other sites, after the association called for a "day of rage".
The budget, unveiled last week, imposes new taxes to claw the North African country's deficit back to near five percent of GDP, as it awaits an international bailout.
Alpha Dhabi and Mubadala form JV
They will co-invest in global credit opportunities.Mubadala will hold 80 percent ownership in the Abu Dhabi Global Market-based joint venture entity, with the remaining 20 percent to be held by Alpha Dhabi.
The venture will leverage Mubadala’s long-term and strategic partnership with Apollo, one of the world’s largest alternative asset managers.
Jordanian-Bahraini business forum explores investment opportunities
AMMAN, JORDAN - The Jordan Chamber of Industry (JCI) organized the Jordanian-Bahraini Business Forum in Bahrain's capital, Manama, to increase...The Jordan Chamber of Industry stressed on the role of the private sector as a driver of the economy.
The JCI described the level of trade between Jordan and Bahrain as "below aspirations," amounting to less than US$300 million.
