Banco Santander posts US$12bn profit
It made record profit on the back of higher interest rates.Business
UAE and UK seek to boost economic cooperation
Abu Dhabi, UAE-- Looking to enhance economic ties between the UAE and the United Kingdom, Abdulla bin Touq Al Marri,...Business Economy
Emirates Islamic 2021 net profit $224m on higher non-funded income
Emirates Islamic’s net profit jumped to AED 823 million ($224 million) for 2021 on higher non-funded income and a significant...The total income rose by 15 percent due to higher non-funded income.
Emirates Islamic's major achievements was the successful issuance of a $500 million 5-year Sukuk, the bank said.
Auto alliance to invest $25 bn
The investment in electric vehicles spread over next 5 years.Nissan, Renault and Mitsubishi Motors said the latest outlay followed $11 billion already spent on its "offensive strategy in electrification".
The alliance vowed to boost cooperation by using five common manufacturing platforms for most models.
Jordan PM Al-Khasawneh meets the CEO of NEOM
Al-Khasawneh stressed the establishment of investments and joint projects in a way that contributes to addressing and responding to the...Al-Khasawneh stressed the establishment of investments and joint projects in a way that contributes to addressing and responding to the challenges of climate change
The CEO of the Saudi "NEOM" company stressed pursuit of serious and real cooperation with Jordan to move forward with the implementation of economically feasible projects
FAB’s 2021 profit hits AED12.5bn
This marks a 19 percent increase year-on-year.Asset quality metrics remained healthy, underpinned by prudent risk management and the relief measures under the UAE Central Bank TESS programme
Zayed Al Nahyan, chairman of the FAB, added that FAB's Board of Directors recommends a dividend per share of 70 fils equivalent for the full year ended 31st December 2021
Federation of Saudi Chambers calls for better Arab-Russia trade relations
Chairman of the Federation of Saudi Chambers (FSC) Ajlan Al-Ajlan has called for preparing a roadmap to enhance economic relations...Chairman of the Federation of Saudi Chambers Ajlan Al-Ajlan recommends establishment of joint companies and an e-platform to promote Russian and Arab products.
Al-Ajlan also stressed the importance of overcoming financial and banking obstacles and stimulating Russian banks to open branches in Saudi Arabia.
UAE resumes entry for travelers from 12 African countries
The countries comprise Kenya, Tanzania, Ethiopia, Nigeria, Republic of Congo, South Africa, Botswana, Eswatini, Lesotho, Mozambique, Namibia and Zimbabwe.The countries comprise Kenya, Tanzania, Ethiopia, Nigeria, Republic of Congo, South Africa, Botswana, Eswatini, Lesotho, Mozambique, Namibia and Zimbabwe
In addition, the entry measures have been updated for travelers coming in from Uganda, Ghana and Rwanda from January 29
Intel sales hit record on chip demand as shortage lingers
Intel on Wednesday said 2021 was a record year for sales at the chip maker as it navigated unprecedented demand...Intel revenue for last year tallied $79 billion, some $20.5 billion of which it took in during the final three months
Profit for 2021 totaled $19.9 billion, about five percent less than the net income in the prior year
Trade, investments bring Saudi Arabia, Iraq closer
Saudi Arabia and Iraq are looking to build a wide-ranging economic partnership as they sign electrical interconnection deal on the...The Saudi-Iraqi Joint Forum seeks to begin a new chapter in the history of comprehensive cooperation between the two countries at all levels
The volume of trade exchange between the two countries during 2016-2021 stood at SAR 20 billion
Marriott Autograph Collection in Sharjah
Two of Shurooq projects will operate under Autograph brand.Khorfakkan Hotel will be developed to cater to the needs of families and adventurers..
The other five-star development, Kalba Hotel, will be spread across a land area of approximately 60,000 sqm.
Crown Prince Salman-headed Group to develop Saudi gaming industry
Saudi Arabia has launched a group to develop its video gaming industry, state media reported Wednesday, as the kingdom seeks...Video gaming and esports have grown in popularity in the kingdom of some 35 million people, the majority of whom are under the age of 25.
Saudi Arabia's games market reached $1 billion in 2021, the highest value among the Arab countries of the Gulf.
