SCCI and Oman Chamber aim to boost investment cooperation
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and the Oman Chamber of Commerce and Industry (OCCI) discussed ways...Business
Bezos sells $2bn Amazon shares
He reportedly intends to sell, next July, 50 million shares of the group.Company News Business Markets
Chinese firm bags $974m Madinah tunnel project
Saudi Arabia has awarded the building of a five-kilometer-long tunnel in the city of Madinah to a Chinese construction firm,...Canada’s WSP and US-based Parsons are among consultants working on the project while Rua al-Madinah Holding is the client
Al-Amida road will serve as an alternative to the current ring road, through expanding the roadway to six lanes
DMCC and Brooklyn Chamber of Commerce sign pact to promote trade
Dubai Multi Commodities Centre and Brooklyn Chamber of Commerce have signed an agreement to work together to promote trade and...DMCC will work with the Brooklyn Chamber to support New York-based businesses in setting up their operations in Dubai.
Similarly, the partnership will look to facilitate the expansion of DMCC's member companies into the US market.
UAE and European Union look to deepen cooperation
The UAE and European Union are looking to deepen cooperation in many fields, and in particular in sub-Saharan Africa. In...The two sides discussed political priorities and related programs, including the UN Sustainable Development Goals, the European Green Deal and global recovery
They also discussed the latest economic and trade developments in Africa and a number of essential issues in the continent
Savola Foods buys Egybelg
The Saudi firm plans to invest $91m in Egypt.Savola will allocate 730 million pounds toward rehabilitating the newly acquired firm and up to 400 million pounds to upgrade factories and raise production capacity
With three factories across Egypt and five production lines, Cairo-based Egybelg manufactures and distributes bakery goods
European equities retreat before US inflation data
European stock markets retreated at the open Friday following losses in Tokyo, with all eyes on US inflation data and...In the eurozone, Frankfurt's DAX index shed 0.7 percent to 14,103.61 points and the Paris CAC 40 lost 0.7 percent to 6,315.39
Economists warn that surging inflation, driven by soaring energy prices, could push top economies into recession
UAE’s trade surplus with GCC countries at Dh135 bn in 2021
The figures showed a 26 percent increase in trade between the UAE and GCC countries in 2021.The figures showed a 26 percent increase in trade between the UAE and GCC countries in 2021
UAE imports from GCC countries in 2021 rose in value to AED56.3 billion, weighing 27.9 million tonnes
Sustainability meets affordability at smart UAE homes
With proliferation of smart home technology and advanced Wi-Fi connectivity, a smart home is achievable to anyone, says Sharjah Sustainable...With proliferation of smart home technology and advanced Wi-Fi connectivity, a smart home is achievable to anyone, says Sharjah Sustainable City CEO Yousif Ahmed Al-Mutawa
The UAE is proactively embracing digital technologies to promote sustainability and ensure that GCC remains well-positioned to evolve into a power-packed digital economy
Cloud migration: A distant dream in Middle East
Security and lack of IT skills have cast a shadow over the pursuit of digital transformation in the Middle East,...The lack of awareness around IT security, access control, and compliance is a challenge for organizations looking to migrate to the cloud
Connectivity is another issue hindering the migration and one quite specific to the region
Saudi Arabia inks investment deals worth $4bn in Q1
Saudi Arabia finalized investment worth SR15.2 billion ($4 billion) in the first quarter of 2022 and closed 101 investment deal...The country finalized 101 investment deals in the first quarter of 2022
The investments reflect a 225 percent increase from the same period last year
Dubai real estate market records transaction worth $206m
Dubai real estate market recorded 293 sales transactions worth AED 757.33 million ($206 million), including 73 mortgage deals of AED135.94...The sales included 264 villas and apartments worth AED507.79 million, and 29 land plots worth AED249.54 million.
Mortgages included 67 villas and apartments worth AED127.44 million and six land plots valued at AED8.5 million,
