HMG 2023 net profit $544m
The rise was due to the hospitals and pharmacy segments.Company News Business Health
Bank of China lists $300m bonds
The bank's Fitch A ratings bonds were listed on Nasdaq Dubai.The new listing highlights Nasdaq Dubai's significant role in strengthening links between the capital markets in Dubai and China.
Bank of China's Dubai branch has issued the 2025-maturing bonds at a yield of 4.84 percent.
UAE Financial Restructuring Committee, World Bank discuss bankruptcy law
ABU DHABI, UAE - Members of the Consultative Council of UAE's Financial Restructuring Committee (FRC) has met with experts from...The meeting was held virtually and sought to discuss the latest updates on amendments to the bankruptcy law.
The meeting discussed the proposed amendments to the bankruptcy law in terms of public policy.
BEEAH inks three-way pact
The three firms will produce fuel cell grade hydrogen from waste.The three firms will form a consortium that will advance progress on the Middle East’s first waste to hydrogen plant, located in Sharjah.
The plans for the plant include an on-site green hydrogen dispensing station capable of fuelling several vehicles.
Saudi PIF acquires 9.5% stake in offshore wind energy developer Skyborn
Dubai---Saudi Arabia's sovereign wealth fund, the Public Investment Fund, had acquired a 9.5 percent stake in Skyborn Renewables, an offshore...PIF said it is investing in Skyborn alongside Global Infrastructure Partners, , a US-based infrastructure investment fund.
The Skyborn, which is based in Bremen, Germany, has a presence in 15 European and Asia Pacific markets.
Rotterdam port ‘drowning in cocaine’ as gangs become stealthier
A record of nearly 70 tons of the drug was intercepted in 2021, up 74 percent from a year before,...The cocaine is usually hidden in containers, or sometimes underneath ships in openings below the water line where they are then recovered by divers.
Rotterdam mayor Ahmed Aboutaleb has deplored the fact that the port city is "drowning in cocaine", and condemns the violence that accompanies the drug trade.
Dubai races ahead to be global epicenter for crypto
While the crypto ecosystem still reels from the collapse of FTX, and investor apprehension about the future of the digital...The UAE is the third largest cryptocurrency market in the Middle East, behind Turkey and Lebanon, with a transaction volume of roughly $26 billion
The emirate demonstrated its willingness with VARA to be the first country to have the regulation to oversee the crypto sector rather than curbing it
Saudi communications ministry inks MoU with Huawei
Under the terms of the agreement, the Ministry and Huawei will collaborate to realize a '10Gbps Society', to build a...Under the terms of the agreement, the Ministry and Huawei will collaborate to realize a '10Gbps Society', to build a superfast broadband infrastructure
Huawei will work with the Ministry to support digital entrepreneurs working on smart cities, IoT, AI, gaming, fintech, e-commerce, and blockchain projects
Musk relaunches Twitter Blue after fake account fiasco
The first try last month came just 10 days after Musk's $44 billion takeover of the platform and a mass...The initial rollout of Twitter Blue caused an uproar when many fake accounts popped up pretending to be celebrities or companies
The relaunch of Twitter Blue in a handful of countries including the US comes as the Tesla and SpaceX owner has stepped up his tweets endorsing right-wing causes
Dubai International Chamber launches three new offices in Cairo, Tel Aviv, Istanbul
The formal inauguration of the representative office in Tel Aviv will take place in the Israeli capital on December 13.The formal inauguration of the representative office in Tel Aviv will take place in the Israeli capital on December 13
International offices have a dual mission of supporting and guiding Dubai companies through every stage of their global expansion
Jordan and Saudi Arabia to boost cooperation, strategic ties
Amman, Jordan— Jordan and Saudi Arabia held discussions on enhancing bilateral cooperation in various fields and boosting strategic ties between...Both countries reaffirmed their keenness to enhance cooperation and bilateral integration, and to leverage available and joint opportunities in various fields
The two sides discussed projects that would deepen bilateral cooperation in economic, investment, trade, energy, water, and transportation
