Global stock markets swing ahead of Fed’s latest rate decision
"Markets are eagerly anticipating today's meeting from the Federal Reserve with traders looking for signs over whether a March rate...Business Economy
TECOM Group net profit up 49%
The company recorded its highest-ever revenue of AED 2.2 billion.Company News Business
UAE lifts curbs on travel to 12 African countries
The United Arab Emirates has lifted curbs on travel to twelve African countries for citizens fully vaccinated and who have...It is okay now to travel to Kenya, Tanzania, Ethiopia, Nigeria, Republic of Congo, South Africa, Botswana, Eswatini, Lesotho, Mozambique, Namibia and Zimbabwe
The authorities specified the categories of citizens who are allowed to travel to these countries
Dubai South attracts 700 new companies by end of 2021
The total number of companies operating out of Dubai South reached 4,600, attracting more than 700 new companies by the...The total number of people working out of Dubai South was expected to reach 20,848 individuals by the end of 2021.
Dubai South Properties handed over almost all its units at The Pulse, an urban mixed-use development comprising 1,400 apartments and 240 townhouses.
Emaar EC reschedules SR976m loan with SABB
Emaar EC has signed a rescheduling agreement with the Saudi British Bank revising the terms of SR976.25 million Shariah-compliant outstanding...The amended terms of the facility also include a grace period up to June 2023 and a repayment starting from June 2023 until December 2029
Before rescheduling, the financing period was from September 2014 until September 2021
Facebook looks for answers as user numbers fall
Founder Mark Zuckerburg has told investors that people have a lot of choices for how they want to spend their...The company has been battling regulatory issues, negative headlines around bullying and disinformation.
It lost one million daily users in the last quarter of last year but still has almost 1.9 billion, figures that dwarf every other platform.
Sanofi posts strong sales
French pharmaceutical group's overall sales rises 4.8% to $43.3bn in 2021.While Sanofi has yet to produce a jab against Covid, its Dupixent drug, which also treats eczema, has been a huge success
The company posted overall sales of 37.8 billion euros ($43.3 billion) in 2021, a 4.8 percent increase
Dubai hosts 7m tourists in a ‘remarkable turnaround’
More than seven million foreign tourists visited Dubai last year, marking a "remarkable turnaround", the government of the Gulf city...The figure was up 32 percent on 2020, the first full year of the coronavirus pandemic, Dubai's economy and tourism department said in a statement
This year, however, missile attacks since last month by Yemeni rebels on the United Arab Emirates of which Dubai is a member have prompted US and UK travel warnings
Oman signs three agreements worth $244m with Saudi Fund for Development
Oman has signed three agreements RO 94 million ($244 million) with the Saudi Fund for Development (SFD) for supporting SMEs...The first MoU dealt with supporting small and medium enterprises (SMEs) through a soft loan portfolio of RO 57.6 million.
The second and third MoUs contribute to the funding of infrastructure projects in the Special Economic Zone at Duqm (SEZAD).
Association of Iraqi Banks, Federation of Egyptian Banks sign MoU
The MoU was signed by the president of the association, Wadih Al-Handal in the presence of the Governor of the...The MoU was signed by the president of the association, Wadih Al-Handal in the presence of the Governor of the Central Bank Mostafa Ghaleb
Al-Handal pointed out that the memorandum of understanding will also focus on establishing joint training programs
Non-Jordan investors buy less, sell more at Amman bourse
The net of non-Jordanian investments during January 2022 showed a negative value of JD5 million ($7.05 million).The value of shares that were bought by non-Jordanian investors during January 2022 was JD11.2 million ($15.8 million)
The value of shares sold by these non-Jordanian investors for the same period amounted to JD16.2 million ($22.85 million)
$100m platform set to give MENA esports a boost
Zain-PlayHera joint venture aims to enhance the capabilities of esports professionals and nurture local talent in the regional marketsThe partnership, which delivers the first esports platform in the region, aims to enhance the capabilities of esports professionals
It will also nurture local talent in the region’s markets by creating an enabling environment for esports content creators and designers
