HMG 2023 net profit $544m
The rise was due to the hospitals and pharmacy segments.Company News Business Health
Sharjah Airport records 7 million passengers in 2021
In 2021, the Sharjah Airport served more than 7 million passengers with more than 57,000 aircraft movements and approximately 1.2...The volume of cargo in 2021 crossed 140,717 tons, while the volume of sea-air cargo reached 18,696 tons, a 22.27 percent increase from 2019.
The airport renewed the ACI’s Airport Health Accreditation (AHA) for the second consecutive year.
Dubai passes new law to regulate virtual assets like Bitcoin
Dubai has promulgated a new law in order to regulate virtual assets that are becoming popular with many investors in...“We established an independent authority to oversee the development of the best business environment in the world for virtual assets," Sheikh Mohammed tweeted
Virtual assets exist digitally and can include cryptocurrencies like Bitcoin and Ethereum
Saudi stocks shoot up on the back of high oil prices
Nudged by high oil prices, Saudi stocks inched up as the main index, TASI, gained 0.24 percent to touch 12,882,...Oil prices kept rising rapidly, as Brent crude oil peaked at $130.85 per barrel, while US WTI crude reached $125.96 per barrel
Wataniya Insurance Co. gained 4.40 percent at the opening bell to be the top gainer at the opening bell
Major UAE companies to work for raising solar power production capacity
The companies are Emirates Global Aluminum (EGA), Abu Dhabi National Energy Company (TAQA), Dubai Holding and Emirates Water and Electricity...TAQA and Dubai Holding envisage acquiring EGA's electricity generation assets in the UAE, holding a 50 percent share each.
For TAQA, the acquisition of EGA's power assets would increase the company's UAE-based capacity to more than 23 gigawatts.
Drone threat puts air defense at centerstage of Saudi defense show
Deadly strikes on Saudi Arabia and the United Arab Emirates claimed by Yemeni rebels have been the talk of shows...Around 600 companies from about 40 countries showed off the latest military technology at the World Defense Show in Riyadh.
The General Authority for Military Industries, which oversees the Saudi defense industry, has made 22 deals with national and international enterprises worth some $2bn.
Kyrgyzstan and Ras Al Khaimah to expand cooperation in investment, trade
Kyrgyzstan and the UAE have discussed enhancing the investment and trade cooperation between the two sides. Mohamed Ali Musabbeh Al...Both sides agreed at a meeting to organize a business visit by a delegation from the chamber to Kyrgyzstan.
The meeting also discussed several projects and investment opportunities that will increase the trade exchange between Kyrgyzstan and Ras Al Khaimah.
Over 27,800 new firms join Dubai Chamber of Commerce in 2021
Over 27,800 new member companies joined the Dubai Chamber of Commerce in 2021, a 66.8 percent increase compared to 2020,...The Chamber said it also achieved its goal of becoming 100 percent paperless by the end of 2021, representing an important milestone in its digital transformation mission.
The value of exports and re-exports of Dubai Chamber of Commerce members amounted to AED227 billion.
Most of Saudi employers to add to workforce in 2022: Hays
Some 80 percent of Saudi Arabia's employers are considering to add to their workforce in 2022, with a reasonable decline...The Hays report noted that 43 percent of employers intended to expand their workforce in 2021, while it was just 29 percent in 2020
The research report suggests that 2022 may face a drought in hiring employees who fall under technology, managerial, and leadership
Empower to pay $136m in dividends
The dividend is 53.4 percent of the net profit earned by the firm last fiscal.The total dividends to shareholders amounted to AED3.15 billion since its inception in 2004, Empower said.
The company reported total revenue of AED2.464 billion in 2021, increasing 9.3 percent compared to 2020.
A health hazard for some, a source of earning for others
At a landfill in southern Gaza, mounds of discarded batteries pile up, rusting cells that pose a growing health risk to...Batteries are an essential power source in Gaza, where public electricity supply is sparse and infrastructure has decayed since an Israeli blockade of the enclave began in 2007
Battery collection is also a source of income for the impoverished territory, where unemployment rates hover around 50 percent
