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Japan to restart funding to UN Palestinian refugee agency
Tokyo, Japan--Japan is preparing to resume funding to the UN's crisis-hit Palestinian refugee agency (UNRWA), which coordinates nearly all aid...Business
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Abu Dhabi Chamber sets up working group to support startups, SMEs
ABU DHABI, UAE – The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formed a working group specifically for...Business Economy
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NEOM announces its new luxury ecotourism destination Zardun
NEOM, SAUDI ARABIA - NEOM's Board of Directors has announced the launch of Zardun - an exclusive resort and natural...This move will help in supporting NEOM's efforts to develop luxury ecotourism in the Kingdom.
Zardun Nature Resort will feature four ultra-luxurious buildings that will blend with the landscape.
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UAE plans to issue bonds, Sukuk valued at $1.3bn in Q1 2024, says official
HONG KONG - UAE Ministry of Finance Undersecretary Younis Haji Al Khoori announced that the ministry's issuance of bonds and...The Islamic Treasury Sukuk launched in 2023 and valued at US$299 million experienced robust demand, with bids received worth US$2.2 billion.
The UAE is Hong Kong's largest trading partner in Middle East, with non-oil trade reaching $6 billion (AED22.2 billion) in the first half of 2022.
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Jabal Omar secures $509m Murabaha
The financing agreement was signed with Al Rajhi Bank.The term of the facility is two years, Jabal Omar said in a statement to Tadawul, according to Argaam. Â
The facility will be used to accelerate the completion of project phases under construction and pay financial obligations.Â
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Deals worth $26.66 billion signed at Real Estate Future Forum 2024
Riyadh, Saudi Arabia -- Deals worth more than $26 billion were signed at the Real Estate Future Forum 2024, which...Over 50 agreements and memoranda of understanding (MoUs) were signed during the event that focused on discussing new innovations.
The event was attended by 300 speakers from 85 countries, including government officials, private-sector representatives, economists, investors and decision makers.
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US approves inspection program to return Boeing 737 MAX to service
The FAA announcement is a major step after the agency grounded 171 MAX 9 planes after the January 5 incident...Shortly after Federal Aviation Administration announced inspection protocols on Boeing 737 MAX 9, United Airlines said it expects grounded aircraft to return to service starting
"We will only return each MAX 9 aircraft to service once this thorough inspection process is complete," said a statement from Toby Enqvist, United's chief operations officer
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UAE-Hong Kong non-oil foreign trade surges to US$16.23 billion
Hong Kong--Non-oil foreign trade value between the UAE and Hong Kong expanded in the past year, reaching $16.2 billion in...The Hong Kong official said that the non-oil foreign trade value grew between the UAE and Hong Kong in the past year, reaching $16.2 billion in 2023
He said the Hong Kong companies are keen to invest in the UAE in sectors such as infrastructure, information technology, financial technology and health technology
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Nokia sees ‘challenging’ 2024
Last year, the company reported a profit of $739 million.Nokia and its Swedish rival Ericsson have launched cost-cutting programmes as their customers have reduced spending amid a slowing global economy.
Nokia said last year it could cut its workforce by up to 14,000 people, reducing costs by up to 1.2 billion euros by 2026
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Emirates Islamic profit rises 71%
The Bank’s total income reached AED 1.2 billion ($326.69 million)The growth can be attributed to the upward trajectory of both funded and non-funded income, indicating enhanced business sentiment
The Bank’s total income reached AED 1.2 billion ($326.69 million) in the fourth quarter of 2023, marking a noteworthy 24% year-on-year growth
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SK Hynix posts US$259.4m profit
The chip maker said the profit was boosted by strong sales.The company said it returned to profit after four consecutive quarters of losses driven by demand for chips used in AI
The chip maker posted a quarterly profit in Q3 of 2022, after which it was hammered by an industry-wide downturn
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DMCC launches global trade roadshow in London to attract FDI from UK
Dubai, UAE--DMCC has kicked off the ninth edition of its global trade roadshow, Made For Trade Live, in London, seeking...During the four quarters to the end of Q2 2023, the UAE-UK bilateral trade grew 47.3% year-on-year to reach $32.40 billion
In 2023, more than 200 British companies joined DMCC’s business district alone, representing a 10% year-on-year growth