UAE and Costa Rica conclude talks on signing CEPA
Dubai, UAE-- The UAE and Costa Rica have concluded negotiations to sign a comprehensive economic partnership agreement.In this connection, Dr....Business
Qatar records $222m in realty deals: Registration department
Doha, Qatar -- The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...Business
DEWA expands fibre optic ducts
The company lays 394 kms of Fibre Optic ducts in 2021.The company increased the total length of these cable ducts since 2015 and until the end of last year to 3,275 kilometres
The external FO ducts protect and direct all Fibre Optic Cables in communication, data transfer and remote operations.
Gourmet meals spawn $59bn Saudi food industry
More than 50,000 coffee shops and restaurants scattered all over the kingdom help Saudi economy relish growth on the back...Last November, the Saudi Central Bank said that consumers in the kingdom spent more than $320 million on F&B, followed by $320 million on cafes and restaurants
According to the Saudi Ministry of Commerce statement, the ministry granted 7,322 business licenses in the restaurant and cafe activities alone last year
East Pipes to list on TASI
The offer comprised a total of 6.3 million shares.This came after the initial public offering of the company was 71.8 times oversubscribed, setting the final offer price at SR80 ($21.3)
SNB Capital, as the financial advisor of the offer, led the book-building process, which started on Jan. 11 and ran through Jan. 17
Bangladesh aiming at direct shipping line to UAE for faster connectivity
Bangladesh wants to establish a direct shipping line with the UAE, which will reduce the existing navigation time by two...Foreign Minister of Bangladesh AK Abdul Momen, on a four-day official visit to the UAE, said Bangladesh is keen to utilize the UAE’s expertise in port management.
The bilateral trade between two countries in 2021 stood at $1.8 billion, Momen said, adding that a direct shipping line would help multiply it several times.
Bahrain and Egypt share solid relations: Fawzia bint Abdulla Zainal
Bahrain and Egypt share solid long-standing brotherly relations, and there is steady progress in it due to their deep partnership...The two sides discussed ways to enhance parliamentary relations between the two countries, in addition to the mechanisms to develop joint action.
They also exchanged points of view on regional and global issues of mutual interest affirming the importance of cooperation between the two.
Saudi firm BinDawood eyes expansion by way of acquisition
Future Tech Retail, a firm owned by Saudi retailer BinDawood Holding, will acquire a sixty-two percent stake in International Applications...Future Tech Retail, which is fully owned by BinDawood Holding, signed the deal with Amwaj Real Estate Co. and First Commercial Application Co
The potential acquisition comes in a bid to strengthen BinDawood’s position in the e-commerce sector and enhance its omnichannel presence
2021 edition of World’s Coolest Winter raises UAE hotel revenues by 50 percent
UAE government's World's Coolest Winter campaign, which was launched in December 2021, has raised revenues of hotel establishments to AED1.5...The campaign promoted tourism, natural sites and entertaining destinations and experiences across the seven emirates of the UAE.
The campaign also raised the number of domestic tourists from 950,000 to 1.3 million, an increase of 36 percent over the first edition of the campaign.
Al-Dawaa of Saudi Arabia to launch IPO at $17.3 per share
Al-Dawaa, a pharmaceutical retail firm in Saudi Arabia, has set the price range for its initial public offering at SR65...The company earlier announced it was offering 25.5 million shares in an IPO, or 30 percent of its capital of SR850 million through a sale by existing shareholders
Institutional subscription has also started on Sunday, where they are initially allocated 100 percent of the offering
QLM net profit up 8 percent
The insurer reported a growth of 16 percent in underwriting income.The Company’s net profit for the Year 2021 is QAR 106.2 million compared to QAR 98 million in 2020, a growth of 8 percent.
The company’s board has recommended a cash dividend of 22 percent (QAR 0.22 per share).
Ras Al Khaima issues 1,749 business licenses in 2021
The Emirate of Ras Al Khaima has given out 1,749 business licenses in 2021, a thirty-six percent jump over the...Commercial sector licenses increased by 921, accounting for 53 percent of the total issued licenses, an annual growth of 30 percent compared to 2020
It was followed by industrial and professional licenses at annual growth rates of about 47 percent and 46 percent respectively
