Hermes profit soars 28 percent
The luxury giant posted a profit of US$4.6bn in 2023.Company News Business
UAB net profit grows 65%
Total assets grew 25% in 2023 on strong growth in loans, advances.Company News Business
Dubai’s luxury retail on the rebound
The government initiatives make the emirate a safe refuge for both inhabitants and tourists which has fuelled consumer activity. Expat-friendly laws...Government initiatives have sped up rebuilding, including making the country a safe refuge for both inhabitants and tourists which has fuelled the consumer activity
With the introduction of new laws such as 5-year multi-entry tourist visa and a 10 year Golden Visa, the prospects for growth in luxury retail have become bright
Qatar looks to upgrade ties with British Rail, discusses collaboration opportunities
Qatar Railways Company discussed collaboration opportunities with the United Kingdom’s trade delegation of railway experts and companies. The discussions involved...The discussions involved collaboration across the full spectrum of customer experience, maintenance and operations
The delegation received a briefing on Qatar Rail projects and shared information with Qatar Rail about its capabilities
Qatar and Germany to boost cooperation in energy sector
Qatar and Germany have agreed to boost cooperation in the energy sector, and in this regard the two countries signed...Qatar's Minister of State for Energy Affairs Eng. Saad bin Sherida Al Kaabi and German Minister for Economic Affairs and Climate Action, Dr. Robert Habeck signed the agreement
Germany aims to diversify its gas supply with the help of liquefied natural gas (LNG) in order to foster energy security during the transition period towards carbon neutrality
DP World exhibits petrochemical hub at Supply Chain Conference
Valued at AED21.4 billion, DP World UAE’s petrochemical hub accounts for 60 percent of Dubai’s total trade value in the...Valued at AED21.4 billion, DP World UAE’s petrochemical hub accounts for 60 percent of Dubai’s total trade value in the sector
Jebel Ali Free Zone (Jafza) alone supports 4,100 port customers and is home to 565 companies from the petrochemicals sector
Emirates NBD, RSA sign agreement
The bank will distribute RSA Middle East's insurance products.The partnership will help increase insurance penetration in the region by providing customers with accessible general insurance solutions, the two firms said in a statement.
The partnership will also focus on customer education and building awareness on the importance of insurance and its living benefits in everyday life, the statement added.
Dubai records $1.96 billion in weeklong real estate transactions
A total of 2,043 real estate transactions worth AED 7.2 billion ($1.96 billion) were conducted during the week ending 20...A total of 228 plots were sold for AED1.14 billion, while 1,328 apartments and villas were sold for AED3.58 billion.
The amount of mortgaged properties for the week was AED2.28 billion, with the highest being a land in Al Muteena, mortgaged for AED 461 million.
Australian businesses in UAE grew six fold since 2004: Governor General
Australian businesses in the UAE grew six fold and the number of Australians in the Emirates nearly four fold since...The number of Australians rose from 4,000 in 2004 to around 15,000 in 2022, said David Hurley.
Wollongong University opened the first Australian international university in Dubai and other universities followed the suit, he said.
Dubai sees increased trade through commercial wooden dhows in Q1
Dhows coming from outside the country have been given direct access to local markets, including through Deira Wharfage and Al...Dhows coming from outside the country have been given direct access to local markets, including through Deira Wharfage and Al Hamriyah Port.
This has been done to implement the directives of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai
Airports enhancing technology to thwart threats: Brigadier Alameri
In the face of security threats, airport authorities are enhancing technology-based end-to-end solutions in order to detect and mitigate security...Brigadier Alameri said, "technology and old methods like K9 are playing key role in security and detection of explosives or drugs around the airports
Buti Ahmed Qurwash, Vice President Security, Dubai Airports, focused on the recent critical development in airport security that are being rolled out across airports globally
Abu Dhabi National Oil Company announces three new oil finds
Abu Dhabi-based group said the 500 million barrels of oil were discovered at Bu Hasa, Abu Dhabi's largest onshore field.Abu Dhabi-based group said the 500 million barrels of oil were discovered at Bu Hasa, Abu Dhabi's largest onshore field
The second oil find was in Abu Dhabi’s Onshore Block 3, operated by Occidental, with around 100 million barrels of oil in place
