Boeing faces heat over quality control after Alaska Airlines fiasco
The Alaska Airlines episode represents the most serious operational problem for Boeing since two crashes on 737 MAX 8 planes...Business Aviation
Dubai records weeklong real estate deals worth $3.86 billion
Dubai, UAE -- The real estate and properties transactions valued at AED 14.2 billion ($3.86 billion) in total during the...Business
Russians prepare for hardships as sanctions begin to hit
With billions of dollars in financial reserves and money still coming in from oil and gas exports, Russia has yet...Russians citizens are reporting a litany of problems, including shortages of everything from paper to medicine due to the European sanction imposed on Moscow
Direct air links with Europe have been severed and Russian citizens are unable to use their bank cards abroad
EDB to provide financial support to SMEs, startups in free zones
The Emirates Development Bank (EDB) has teamed up with the Hamriyah Free Zone in Sharjah and the Sharjah Airport International...EDB will offer its range of financial solutions to SMEs and start-ups in Hamriyah Free Zone and SAIF, including capex financing for expansion or facility upgrades
Al Mazrouei noted that the Emirates Development Bank is an important national institution, providing financing and banking solutions for a critical segment of the national economy
Middle East construction set to build on oil prices
Crude price rise will potentially lead to a greater surplus in local govt budgets, which can be used for construction...Crude price rise will potentially lead to a greater surplus in local govt budgets, which can be used for construction and development investment, says Gary Tracey of JLL
Construction output is forecast to grow at an annual average growth rate of 2.3 percent over 2022–2030, with prices likely to be impacted by the geopolitical situation
Arada issues $350m Sukuk
The deal has been listed on the London Stock Exchange.The deal, which reopened the MENA US dollar markets after a six-week hiatus, was also the first US dollar corporate Sukuk globally in 2022.
The Sukuk issuance saw strong demand from both regional and international investors, with a subscription order of $720 million, more than two times the offer size, Arada said.
Saudi Arabia, Jordan discuss ways to enhance maritime transport relations
A joint panel of the two countries discuss the mechanism to develop and modernize previous agreements related to maritime transport.The two countries review the latest developments in the maritime transport sector and ports
The Saudi-Jordanian Technical Committee for Maritime Transport is holding its third session in Aqaba
Iraq to France: Ready to supply European markets oil
Iraq's State Organization for Marketing of Oil (SOMO) has said it approached France about the possibility of Iraq's supplying the...About 60 percent of Russia's exports of crude oil go to the European continent, but in the shadow of Ukraine war, it will need new suppliers.
Italian Prime Minister Mario Draghi recently visited gas powerhouse Algeria as Rome steps up efforts to reduce its heavy reliance on Russian energy imports.
Dubai launches unified electronic platform for building permits
The Dubai Building Permit Development Committee has completed the unified electronic platform for building permits, which includes building permit services...The platform is set to provide distinguished services to consultancy offices and contracting companies, according to a statement.
The window includes building licensing services of Dubai Municipality and Dubai Development Authority among others.
UAE brings in new classification system for private sector
A new classification system for companies in the private sector came into force on Wednesday, according to the Ministry of...The new system depends on the extent of companies’ compliance with the law and Wage Protection System and workers’ rights protection
The classification offers incentives to companies that commit to the prescribed laws and policies on promoting cultural and demographic diversity
Disney+ releases a sneak peek at the content line up for MENA region
Disney+ has finally unveiled an extensive sneak peek at the line-up for the Middle East and North Africa (MENA).Disney+ has finally unveiled an extensive sneak peek at the line-up for the Middle East and North Africa (MENA)
Disney+ is the dedicated streaming home for movies and shows from Disney, Pixar, Marvel, Star Wars, and National Geographic, along with The Simpsons and much more
Are casinos a haven for money laundering?
Casinos often prefer to close their eyes to how clients finance their bets, allowing their tables to become conduits for...Martini said that casinos have been willing to turn a blind eye and not do extensive checks on their customers
She said that dirty money earned from illegal activities can be brought into casinos and no one asks any questions
