Dubai wins right to host 349 business event in 2023
DUBAI, UAE - Dubai consolidated its status as a central hub for international business events in 2023, with the city...Business Economy Global Tourism
UAE, Egypt, Jordan partner for sustainable economic growth
The countries allocated a US$10bn investment fund, to be managed by ADQ Holding, to accelerate the partnership objectives.The countries allocated a US$10bn investment fund, to be managed by ADQ Holding, to accelerate the partnership objectives
The partnership seeks to enhance growth across food and agriculture, fertilisers, pharmaceuticals, textiles, minerals, and petrochemicals
KSA eyes economic diversification with PIF-KHC deal
Public Investment Fund’s stake purchase in Kingdom Holding is part of the Saudi Arabia’s Vision 2030, Arun Leslie John, Chief...Kingdom Holding Company recently signed an agreement with the Public Investment Fund to sell 625 million shares, representing 16.87% of the company’s share capital
The PIF, which manages over $600 billion in assets, is at the center of Mohammed bin Salman’s ambitious agenda to diversify the Saudi economy away from oil
Shipment value of Saudi cargo trains increases by 25 percent
The shipment value of cargo trains of the Saudi Railway Company (SAR) has increased by 25 percent at the end...The trains transported in excess of 5.5 million tons of minerals and goods.
The levels of traffic safety increased as cargo trains crossed over 1.2 million kilometers.
Saudi Chambers, French group to cooperate in entertainment sector
The Federation of Saudi Chambers, represented by the Saudi-French Business Council, will host a key French delegation representing the entertainment...The French delegation comprises 30 business owners and major French entertainment companies in the field of amusement parks, and manufacturing sports products.
Some 100 business owners and Saudi entertainment companies and the national entertainment committee at the federation could participate in the meeting.
Dubai ranks second globally in attracting FDI in creative economy
Dubai ranked first in the Middle East and North Africa (MENA) region and second in the world in attracting foreign...Surpassing other major cities such as New York, Singapore and Berlin, Dubai improved its rankings from fifth in 2020.
In terms of the number of new jobs in the creative economy, Dubai held on to its top rank regionally and fourth globally with 6,204 new jobs created from FDI.
Fujairah Cement off Boursa Kuwait
The company has obtained approval of Capital Market Authority-Kuwait to do so.Fujairah Cement has obtained approval of Capital Market Authority-Kuwait for voluntary withdrawal from the Boursa Kuwait
November 30, 2022, will be the last day for trading the Company's shares in Boursa Kuwait, says Fujairah Cement
Dubai Government-Dubai Customs meet discusses best practices
A Dubai Government delegation that visited Dubai Customs was briefed about the department’s experience in budgeting, internal control, and best...Through these visits, Dubai Customs supports its strategic relationships with its partners and builds effective, value-added relationships.
The two sides discussed government innovation and its role in supporting Dubai Customs’ vision and strategic plans.
Qatar First Bank exits its first real estate investment in Baltimore
Qatar First Bank (QFB) has announced the successful exit of Jefferson Square, its first syndicated real estate investment located in...QFB acquired Jefferson Square, a class A multifamily residential building, in June 2017 as part of its Sharia compliant real estate investment program.
Jefferson Square marks the second US real estate exit for QFB following the successful exit of Kennedy Flats, Connecticut in October 2021.
Turkey grapples with fires from plastic recycling plants
Although Turkey has become the leading importer of European plastic waste after China banned imports in 2018 but according to...In Kartepe, an industrial town in the country's northwest, one of these sites was closed by the authorities in December after the outbreak of three fires in less than a month
There was a fire every three days in Turkey's plastic reprocessing plants on average last year
East Pipes’ revenues dip 36% to SAR597m
Saudi Arabia’s East Pipes reported a net loss of SAR3m during FY2022.Total sales volumes decreased 26 percent for pipes sales and 23 percent for coating sales
Gross profit decreased 85 percent to SAR 35 million due to the shrinking production volumes
