Gaza solidarity boycott hits global food chains
As customers in the Middle East shun international restaurants, local businesses report they have benefited from the boycott.Business Geostrategy Global
‘Bond market acts as a mirror to economic realities’
"(US Federal Reserve Chair Jerome) Powell's focus on verifying inflation's trajectory is in line with the central bank's dual mandate...Business Markets
Dana Gas to pay $85m H1 dividend
The dividend of 4.5 fils per share will be paid by 21 Oct.The company posted a net profit of $111 million in the first six months of the year, an 82 percent increase compared to an adjusted net profit in H1 2021.
The company’s profitability in the first half of 2022 was driven by elevated hydrocarbon prices,
Xiamen Airlines to buy aircraft
The airline plans to buy 40 A320neo aircraft from Airbus.The airline, based in the southeastern city of Xiamen has until now had exclusively Boeing aircraft in its fleet.
While weakened by the pandemic, airlines around the world are preparing for an expected doubling of air travel in the next two decades.
Dubai records realty transactions worth $299 million Thursday
Dubai, UAE-- Dubai real estate market recorded realty transactions worth AED1.1 billion ($299 million) on Thursday, Dubai Land Department said....The deals included 371 sales transactions worth AED825.36 million, in addition to 81 mortgage deals of AED231.57 million, and 18 gift deals amounting to AED48.1 million.
The sales included 334 villas and apartments worth AED626.55 million, and 37 land plots worth AED198.81 million.
‘Hungary wants EU sanctions on Russia lifted by year end’
Hungarian Prime Minister Viktor Orban wants EU sanctions on Russia over its invasion of Ukraine lifted by year end, a...Hungary is highly dependent on Russian oil and gas and Budapest has already secured an exemption from sanctions on Russian crude oil imports via pipelines.
EU foreign ministers held an emergency meeting to discuss after Moscow mobilized reservists for its war in Ukraine.
Value of building permits issued by Sharjah Municipality hits $2.54 bn
Sharjah, UAE--The contractual value of building permits issued by Sharjah Municipality grew to AED9.344 billion ($2.54 billion) in H1, while...The value of building permits for which certificates of completion were issued reached AED3.263 billion.
Building Permits Department has completed 1,824 applications for accrediting engineering plans, and issued 1,265 building permits.
UAE, Jordan ink pact to standardize specifications
The UAE Ministry of Industry and Advanced Technology (MoIAT) signed a Memorandum of Understanding (MoU) with the Jordan Standards and...The agreement aims to facilitate industrial, trade and economic growth in both the UAE and Jordan.
The pact encourages cooperation in conformity assessment procedures for non-food and non-pharmaceutical industrial products.
Saudi Education Minister meets founder of edX platform in US
Saudi Arabia's Minister of Education Dr. Hamad bin Mohammed Al AlSheikh has met with the leaders of edX platform at...The minister met the platform's founder to discuss ways to promote cooperation in the online education and e-training industry,
The two discussed ways to develop a partnership between the National Center for E-Learning FutureX and the edX platform.
UN succeeds in raising US$75m to salvage oil tanker off Yemen
The decaying 45-year-old FSO Safer, long used as a floating storage platform and now abandoned off the rebel-held Yemeni port...UN officials last month warned that the ship was a ticking environmental time bomb requiring immediate action
It warned a spill could destroy ecosystems, shut down the fishing industry and close the lifeline Hodeida port for six months
Saudi Steel lands contract
It won a $40 million contract from Aramco to supply pipes.Saudi Steel Pipe Co. said, in a bourse filing, that it expects to see financial impact from its new order in the second and third quarters of 2023
The pipe producer, in May, signed a 10-month contract worth $25.86 million with Saudi Aramco to supply the latter with oil and gas steel pipes
Raydan to cut capital by 53%
The food company will reduce the capital to $42.13 million.According to a bourse filing, the company is cutting its capital from $90 million to $42.13 million
The food company's accumulated losses reached $45 million in the first half of the year, representing 53 percent of its share capital
