Arab Bank Group net profit $829.6m
The Group posted a 52% increase in net income compared to 2022.Company News Business
WEF24: DCO leads in bridging global digital divide
Digital Cooperation Organization's initiatives are key to empower emerging economies through digitalization's full potential, its Secretary General Deemah AlYahya tells...Business Video
Saudi Arabia adopts online registration for Hajj to combat scams
Saudi Arabia has required would-be hajj pilgrims from many Western countries to apply for visas via a government portal online,...It applies to the United States, Canada, the United Kingdom, Europe and Australia, an official told AFP on condition of anonymity.
Previously, pilgrims could register via travel agencies that organised hajj trips, a system that sometimes led to scams, with "fake agencies" making off with victims' money.
Germany, UAE can jointly invest in ‘new economy’, says top diplomat
Germany and the UAE as strong economic partners will continue trade but they can make joint investments in the 'new...Germany and the UAE as strong economic partners will continue with their trade in the traditional economy
Both the countries can make joint investments in the 'new economy' that will help achieve their net-zero targets
Gulf’s first dedicated furniture exhibition kicked off Monday
The first edition in Dubai catered to big-box retailers and wholesale traders, while the second edition is set to have...The Expo Center Sharjah announced this, while confirming that the event will finish Thursday, 16th June.
The first two days are dedicated to trade visitors and the latter two days are dedicated to general visitors.
US stocks down again as S&P 500 breaches bear market
Wall Street stocks sank early Monday, tumbling into a "bear market" in anticipation of more Federal Reserve monetary tightening this...The market's losses come on the heels of three straight down sessions, put the S&P 500 into a bear market.
About 35 minutes into trading, the broad-based S&P 500 was at 3,796.66, down 2.7 from Friday's session.
NEOM awards contracts for construction of high-speed transportation tunnels
NEOM has awarded two contracts to two consortiums for the construction of two tunnels with a length of 28 kilometers...The two contracts were awarded to two consortiums consisting of engineering and construction companies.
NEOM said the project will be implemented in accordance with the best international practices used to protect the environment.
‘Made in Saudi’ takes part in 17th OIC Member States Trade Fair
The Made in Saudi program is participating in the 17th Organization of Islamic Cooperation (OIC) Member States Trade FairThe Made in Saudi program's participation shows international trade fairs help companies reach global markets
The event is considered a platform to display goods and services and to discuss about strategic partnerships
Dubai Chamber members’ exports up 28 percent in May, highest since 2018
The strength of the Dubai economy, the flexibility of the emirate's merchants and the value of Dubai Chamber of Commerce...Dubai’s strategic plan to boost foreign trade by up to AED 2 trillion ($544 billion) in five years, Al Ghurair said.
GCC countries accounted for 55 percent of the total exports and re-exports of the members in May 2022.
Work in water reservoir project in Hatta ahead of schedule
The project includes the construction of two reservoirs with a storage capacity of 30 million gallons of desalinated water, supporting...Progress in the Hatta water reservoir project is ahead of schedule as 36 percent completed compared to 32 percent target
The project has a capacity of 30 million imperial gallons at a cost of approximately AED 86 million
Ladun to list on Nomu
The Saudi firm's IPO was priced at $4.8 per share.The company’s initial public offering was priced at SR18 ($4.8) per share, with 20.97 times oversubscription
The Riyadh-based firm sold 5 million shares, representing 10 percent of its capital
Jordanian army seizes big haul of drugs on border with Syria
Jordan has foiled an attempt to smuggle drugs into the kingdom from its border with Syria, seizing 900,000 Captagon pills...Jordanian army has ramped up operations against drug smuggling from Syria which, it said, has been increasing dramatically
Director of JAF Military Media Department Col. Mustafa Hiyari recently accused Iran and Syria of sponsoring drug dealers operating in Syria
