CBD posts record net profit of $721m
The bank has proposed record cash dividend of 44.38 fils per share.Company News Business
Egypt finalizes pact with Siemens to run high-speed train line
Egypt’s Ministry of Transport will sign a contract with Siemens to implement the second high-speed train line in the country....The new line will extend from 6th of October city to Aswan, with a length of 925 kilometers (575 miles approx).
The cost of this project will be financed through a soft foreign government loan and the state's general budget.
Saudi defense company AEC to display modern technology at LEAP
The Advanced Electronics Company (AEC), a Saudi Arabian Military Industries (SAMI) company, will participate in LEAP technology conference, a global...AEC will display a complete range of solutions, systems, and products, including its flagship cybersecurity technology Data Diode.
The conference is organized by the Saudi Ministry of Communications and Information Technology.
Abu Dhabi Chamber and Mauritius EDB sign trade agreement
The Abu Dhabi Chamber of Commerce and Industry has signed a cooperation agreement with the Economic Development Board of Mauritius...The agreement will establish a framework for developing stronger business relations between the parties.
The two sides will organize prospective business missions, study trips, commercial events, trade fairs, exhibitions and seminars.
IACE President warns Tunisia as a state can collapse
The President of the Arab Institute of Business Leaders (IACE) Taieb Bayahi has warned that Tunisia as a state could...He added that it is necessary to save the remaining urgently, stressing that "the current economic situation does not allow us to waste any more time
In a report published this month, the forum ranked Tunisia among the five countries threatened by the spectre of the collapse of the state
dnata of Dubai to invest $233m in Amsterdam Airport
dnata, the global air and travel services provider, will invest more than $223.22 million in a fully automated cargo center...dnata Cargo City Amsterdam will significantly enhance cargo capacity in The Netherlands and create new, direct jobs with dnata
It will enable dnata and its customers to substantially expand operations and business, stimulating local economy and trade
Arabian Centers to set up $14.65m microfinance company
FAS Labs Limited Co., a unit owned by Saudi retail firm Arabian Centers, will set up a digital consumer microfinance...According to a bourse filing, FAS Labs Limited Co. has obtained preliminary approval from the central bank
The move comes as Arabian Centres aims diversify its income sources and enhance profitability
Jordan signs Japan deal for AI-enabled support software
The two sides agreed on the project's overall framework, in addition to a draft accord detailing initial implementation phases.Jordan’s Ministry of Digital Economy and Entrepreneurship and Japan International Cooperation Agency (JICA) have signed an agreement
The agreement lays out the main technical axes of a project to develop Jordan's artificial intelligence (AI)-enabled support system
Qatar Financial Center’s systems benefit aircraft leasing firms: CEO
The Center’s proximity to the most important leading airlines in the world and its wide network of destinations make it...Yousuf Mohammed Al Jaida said the Center's proximity to leading airlines makes it ideal for aircraft leasing companies.
Nearly 30 of the largest aircraft lessors in the world are looking forward to concluding deals with leading airlines that utilize their assets efficiently.
Moro Hub teams up with Swedish firm
Moro Hub, the digital arm of DEWA, has signed an agreement with Axis Communications, a Swedish company, offering video surveillance...This partnership is part of Moro Hub’s effort to accelerate its drive to promote Integrated Physical Security in the UAE and GCC
Moro Hub will now offer government and enterprise clients across varied verticals, including transport, utilities and energy, healthcare, retail and financials
Arab Bank profit up 61%
The net income after tax rose from $195.3m to $314.5m.The Arab Bank Group consolidated the financial statements of Oman Arab Bank under its group accounts
This increased total assets by $8.4 billion to $63.8 billion, compared to $54.4 billion for the same period last year
