Vietjet to buy 20 A330-900 planes
The company signed MoU with Airbus for the widebody aircraft.Business
OPEC sees demand for oil tanking this year
OPEC warns that the demand growth for 2023 will slow further to 2.7 million bpd, leaving its forecast unchanged from...OPEC said that the cut in growth forecast is attributed to the economic impact due to Russia’s invasion of Ukraine and high inflation
The global oil market, according to OPEC, is strongly rebounding to pre-COVID-19 levels
Saudi Electricity borrows $568m
The money will be used to fund Egypt interconnection project.Saudi Arabia and Egypt signed contracts for a $1.8 billion electricity interconnection project to ensure an exchange of 3,000 MW of electricity between both nations
The utility firm announced that it has also obtained a syndicated loan of $3 billion from a number of international banks
RAK Chamber members’ exports in Q2 2022 totaled $447m
The Ras Al Khaimah Chamber of Commerce and Industry issued its statistics for the second quarter of 2022, which showed...The report also showed that the number of certificates of origin issued by the chamber totaled 5,871.
A total of 326 plots were sold for $446 million, while 1,567 apartments and villas were purchased for $849 million
Julphar Q2 sales $114m
Net profit for the period reached AED5.2m (AED73.4 million in Q2 2021)EBITDA reached AED 44.2 million in Q2 2022 and the quarter marks a return to a double digit margin of 10.5 percent of net sales.
The drug manufacturer said the gross profit margin was 34 percent in Q2 2022.
Dubai records $2.6bn real estate transactions in week
A total of 2,433 real estate transactions worth $2.6 billion (AED9.7 billion) were conducted during the week ending 12th August,...A total of 2,433 real estate transactions worth $2.6 billion were conducted during the week ending 12th August, 2022
A total of 326 plots were sold for $446 million, while 1,567 apartments and villas were purchased for $849 million
ADDED launches incubators program for entrepreneurs
The Competitiveness Office of Abu Dhabi, part of the Abu Dhabi Department of Economic Development, has officially launched the 'Abu...The program aims to support individuals who wish to turn their ideas into innovative commercial opportunities
This incubator program is part of the 14 initiatives under the 'Abu Dhabi Innovates'.
Dubai Airports win Gold Stevie Award for Great Employers 2022
Dubai Airports has been named the winner of a Gold Stevie Award in the Most Innovative Workplace Redesign During COVID-19...Dubai Airports wins Gold Stevie Award for initiatives during the pandemic to protect the health and wellbeing of employees, customers and guests.
This included the redesign of the Dubai Airports workplace with the installation of onsite testing and vaccination facilities.
Abu Dhabi non-oil foreign trade $33.75 billion in first half of 2022
The value of the trade-in commodities from normal metals and their products increased to AED24.51 billion, with a growth rate...Exports during the first six months of this year increased to 26 percent, at a value of AED49 billion and 479 million, compared to AED39.19 billion in 2021.
The trade with Saudi Arabia was the highest at AED28.63 billion, with a growth rate of three percent compared to AED27.90 billion recorded during the same period in 2021.
Ajman Chamber urges members to diversify investments
The ACCI witnessed the signing of a strategic partnership agreement to supply rosewater between Lavish Perfumes with Lecheq Farm Distillery...The Ajman Chamber of Commerce and Industry wants members to increase the volume of intra-trade.
The Chamber also wants members to strengthen international relations between business owners in Ajman and their outside counterparts
Foreign exchange reserves up at $82bn, says Iraq’s Central Bank
Central Bank of Iraq announced that foreign exchange reserves rose to US$82 billion, while gold reserves exceeded 130 tons.Iraq's Central Bank says that its gold reserves exceed 130 tons
Among the countries with the most gold, Iraq has now reached 30 position
