American Airlines orders 260 jets
It is part of the airlines' effort to 'modernize' its fleet.Business
Dubai International Boat Show helps in marine business
DUBAI, UAE – Dubai International Boat Show has wrapped up following a hugely successful week of high-value boat sales, important...Business Global Tourism
Russia warns G7 price cap on oil would increase its price
Moscow said Thursday that G7 plans to cap the price of Russian oil would lead to a shortfall on world...Leaders of the Group of Seven wealthy nations agreed at a summit this week to work on a price cap for Russian oil.
West has already imposed multiple layers of sanctions on Russia in response to Putin's order to send troops to Ukraine.
UAE, South Korea ink pact to support entrepreneurs, SMEs
The UAE and South Korea sign an agreement to launch a joint cooperation program to support entrepreneurs and SMEs. During...The UAE and South Korea sign an agreement to launch a joint cooperation program to support entrepreneurs and SMEs
During the 11-month program, the two sides will discuss and cooperate in entrepreneurship and SME development
Europe’s Syria phosphate imports profiting Russian firm: Report
Syrian phosphates used for fertilizer are being exported to Europe in bulk, benefitting a Russian firm and the sanctions-hit Damascus...Italy, Bulgaria, Spain and Poland are among the EU states receiving Syrian phosphates.
International sanctions do not ban the import of Syrian phosphates but key Russian and Syrian players involved in the trade are sanctioned by the US or Europe.
‘Effective steps needed to tackle situation due to Ukraine crisis’
Jordan's Minister of Foreign Affairs and Expatriates has called for concrete and effective steps to address the effects of the...Jordan's foreign minister calls for concrete steps to deal with the effects of Ukraine crisis on food security, energy prices and supply chains
The minister reviews the Kingdom's relations with NATO and Jordan's role in the 'Mediterranean Dialogue' group since 1995
DP World, NIIF expand ties
NIIF Master Fund will invest $300m in DP World subsidiary HPPL.With this transaction, which is also the Master Fund’s single largest investment, NIIF’s investment under this partnership will reach around $500 million.
HPPL is one of India’s leading container terminal platforms with a proven track record of growth over the long-term.
Drydocks World, KANFA AS sign contract
This is the first collaboration between Drydocks World and KANFA AS.Under the contract, the M10 module will be placed on the main deck of a floating production, storage and offloading (FPSO) vessel.
It will be used to process crude oil received from oil wells, which will be dewatered and stabilized to meet export quality specifications.
OPEC meeting expected to stick to oil output boost
Major oil producers led by Saudi Arabia and Russia are expected to stick to a previously decided output boost at...The 13 members of the Organization of the Petroleum Exporting Countries, chaired by Saudi Arabia, and their 10 partners, led by Russia, drastically slashed output in 2020
But several OPEC+ members have been failing to meet the output quotas, while Iran and Venezuela -- and now also Russia -- are blocked by sanctions
Recession fears drag down European, Asian stocks
Asian and European stock markets nursed losses Wednesday on resurgent fears that sharp interest rate hikes aimed at tackling runaway...Bourses in Paris, Frankfurt, Tokyo, and Hong Kong all lost around one percent or more, taking their cues from Tuesday's rout on Wall Street
Updated first quarter US GDP data released Wednesday chopped the personal consumption growth figure to 1.8 percent, from 3.1 percent
New law to allow UAE companies to act as commercial agents
The new draft law is geared to provide more business opportunities for UAE citizens and allow new categories of citizens...The new draft law is geared to provide more business opportunities for UAE citizens and allow new categories of citizens to access the commercial agencies business
The UAE has also enacted a new draft law on the cooperatives that allows for the establishment of various forms of cooperatives in the country
Arabian Plastic to list on Nomu
The company has won approval for an IPO of 1m shares.Shares to be listed represent 20 percent of the company’s share capital
The Capital Market Authority’s approval shall be valid for six months from the authority’s board resolution date
