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ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Alpha Dhabi acquires interest in NCTH

The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.

Meraas awards construction contract

The $272m contract has been awarded for Bluewaters Bay.

SIB’s 2024 profit $272m

The profit surpassed AED 1 billion for the first time in bank's history.

AD Ports to invest in Kazakh port

Under the deal, AD Ports Group owns 51% stake.

  • SCC’s committee endorses Sharjah Free Zones policy draft

    The Sharjah Consultative Council (SCC) has approved its recommendations on the policy of the Sharjah Ports, Customs and Free Zones...

    The meeting was chaired by Ali Mehd Al Suwaidi, Chairman of the Sharjah Consultative Council

    The members of the Council also discussed the provisions of the recommendations and addressed a number of topics

  • Dubai Free Zones Council mulls facilitating business bank accounts for SMEs

    A meeting of the Dubai Free Zones Council (DFZ Council) on Sunday discussed how to facilitate opening business bank accounts...

    These bank accounts will be facilitated in collaboration with the UAE Banks Federation.

    Council members also highlighted their readiness to support the Emirati Human Resources Development Council in Dubai, which DFZ Council joins as a member.

  • Study to look at green hydrogen alliance between UAE, UK

    A new research paper will explore potential green hydrogen collaborations between the United Arab Emirates and the United Kingdom.

    The report, sponsored by HSBC, will seek to uncover mutual opportunities to accelerate the development of the respective clean hydrogen markets of the UAE and the UK

    Research for the report will include stakeholder meetings and workshops to test and validate findings

  • Close to 1800 hybrid vehicles to join Dubai Taxi Corporation

    Dubai’s Roads and Transport Authority (RTA) has signed a contract for the procurement of 2,219 new vehicles to enhance the...

    The total number of hybrid vehicles in Dubai Taxi fleet jumps to 4,105 vehicles, which constitutes 71% of the total number of taxis operated by the DTC

    The Strategic Plan of the Dubai Taxi Corporation (2021-2023) encompasses 51 initiatives based on key pillars highlighted by increasing the market share of DTC taxis from the existi

  • Trade between Bangladesh and UAE reaches $1.2 billion in 2021

    Trade between Bangladesh and the UAE has reached $1.2 billion in 2021, recording a growth of more than 15 percent,...

    The trade could reach $2billion by the 50th anniversary of the establishment of diplomatic relations in 2024, said Bangladesh ambassador to UAE Mohammed Abu Zafar.

    Bangladesh eyes UAE market with the products like readymade garments, pharmaceuticals, jute products, fabrics and home textiles.

  • Saudi Arabia unveils largest Motor festival in Middle East

    The management of Autoville has officially started selling tickets for the events of this International festival through its official website.

    The Autoville festival will cover an area of 1.7 million square meters as the audience will watch the stars of art and display cars from all over the world

    The festival will also showcase the latest developments in mobility, and a number of concerts by a group of Arab and international artists

  • Bahrain to launch e-residency service in Q1 of 2022

    The country also mulled the idea of extending the validity of visas to reduce routine procedures.

    Both sides also discussed cooperation at ports and the possibility to extend the validity of visas to reduce routine procedures

    The NPRA and LMRA agreed to intensify inspection campaigns to tackle violations of the labor market and residency rules

  • KCB lent $1.31bn in 2021

    The Kuwaiti bank’s lending amount was spread across 23,000 loans.

    KCB spokesperson Habari Al-Khashti said the effectiveness of the bank's electronic services saved time and effort for citizens

    She also indicated that 99 percent of the bank’s credit services have become electronic

  • Gulf Navigation to issue $41m bonds

    The company is calling a meeting of all stakeholders for this.

    The company said the date of issuance of the bonds is March 9

    The conversion period of the bonds would be three months from the issuance date

  • Saudi Arabia GDP to gain in 2022: Kuwait Financial Center

    Government spending on infrastructure projects as part of the Vision 2030 program is expected to boost non-oil GDP growth.

    Markaz’s report indicated that investments are expected to pick up as the government initiates major projects like Neom City

    Steady population growth, government subsidies, and the enacted mortgage law are enabling banks to finance home purchases, fueling the growth in the residential sector