Qatar’s foreign merchandise trade surplus $5.13 billion in Dec 2023
Doha, Qatar - Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...Business
Philips to halt sales of sleep machines in US
It posted losses to the tune of US$502m during the year 2023.Business
European Union seeks to prepare arrival of ‘zero-emission’ aircraft
The European Commission called Friday on the members of the aviation sector to join an alliance to prepare for the...The decarbonization of aviation is one of the major challenges toward the carbon neutrality goal the EU seeks to achieve by 2050.
Manufacturers are also working on new generations of regional aircraft using hybrid or electric propulsion, with a range of several hundred kilometers.
Saudi Arabia, Djibouti sign agreement on maritime transport
The Kingdom of Saudi Arabia has signed a joint cooperation agreement in maritime transport with the Republic of Djibouti which...The maritime transport pact between Saudi Arabia and Djibouti aim to strengthen relations at the strategic level
The agreement aims to open new horizons for cooperation in various fields between the two countries
Careem acquires MUNCH: ON
MUNCH: ON offering will be rebuilt on the Careem app.MUNCH: ON, a subscription-based food delivery platform which connects customers to meals at a discount by tapping into underutilized kitchen capacity.
Careem said the two firms will work together to deliver even greater value by introducing low-cost meal segments.
‘Make it in the Emirates’ helps in growth of industries
The two-day 'Make it in the Emirates' event hosted by Abu Dhabi, highlight the UAE's capacity to ensure the growth...The two-day ‘Make it in the Emirates' event highlight the UAE's capacity to ensure the growth of national industry
The event helps in identifying a number of products the country will depend on in the coming years
EGA to produce silicon metal
Silicon metal is added to aluminum to create high-strength alloys.Roughly a quarter of EGA’s production is foundry alloys, which are used to make vehicle parts.
The UAE currently has no domestic silicon metal manufacturing capacity, and EGA is by far the largest importer of this material.
Dubai urges use of smart apps to order Eid sacrifices
Muslims during Eid Al Adha traditionally buy a whole sheep to be slaughtered and distributed among friends, family, and the...Muslims during Eid Al Adha traditionally buy a whole sheep to be slaughtered and distributed among friends, family, and the poor
Through the apps, residents can put in their orders for slaughter, have them delivered, or even distribute them to local charities
Big Oil meeting with US govt cordial but no gas price fix
High prices at the pump are weighing on American consumers and damaging President Joe Biden's approval rating.High prices at the pump are weighing on American consumers and damaging President Joe Biden's approval rating
Biden and the oil industry have an uneasy relationship, in part over the White House's efforts to restrict drilling in some federal areas
Gulf airlines recoup losses, make profits after 2 years
The global aviation sector's losses, which rose to around S138 billion in 2020, dropped to nearly $42 billion in 2021....Qatar Airways, a major GCC airline, reported profits of $1.54 billion during the fiscal year ending March 2022, compared to $4 billion loss in the previous year
The UAE airlines have recovered 92.9 percent of seat capacity compared to pre-pandemic levels, according to data released by OIG International
UAE gets 41% of all FDI projects to Arab countries in 2 decades
The UAE received 41 percent share of the entire foreign direct investment projects all Arab countries attracted between 2003 and...The UAE received 41 percent share of the entire foreign direct investment projects all Arab countries attracted between 2003 and 2021
As per the Arab Investment Export Credit Guarantee Corporation Arab countries received a total capex of US$1.3trn over the last 19 years
EIG, Q Properties sign gas deal
EIG will supply gas to Q Properties' Reem Hills project.EIG will provide the Q Properties with services like feasibility, commercial, technical, conceptual designs and engineering.
EIG will also support the project during engineering phases for gas-related work on the Reem Hills luxury development.
