TECOM Group net profit up 49%
The company recorded its highest-ever revenue of AED 2.2 billion.Company News Business
Emirates NBD’s profits jump 34%
Dubai's largest bank sees its net profits rising to $2.5 billion in 2021 from $1.9 billion in 2020.The bank, the second largest lender in the United Arab Emirates, said its net profits rose 34 percent to $2.5 billion, from $1.9 billion in 2020.
The bank has set aside $1.6 billion in impairments, covering loan losses, a 26-percent decrease from last year, due to improving economic conditions
Istanbul’s snowed-in airport stirs back to life
Istanbul Airport closed on Monday for the first time since it took over from the old Ataturk Airport as the...Istanbul Airport closed on Monday for the first time since it took over from the old Ataturk Airport as the global hub of Turkish Airlines in 2019
Fuming passengers complained on Twitter about a lack of regular updates from Turkish travel officials and poor customer service
Jordan, Tunisia discuss economic cooperation
The discussion happened at the first session of the Jordanian-Tunisian Joint Trade Committee.The meeting was attended by Secretary-General of Jordan’s Ministry of Industry, Trade and Supply Dana Al-Zoubi
Head of the Cabinet of Minister of Trade and Export Development in the Tunisian Ministry of Trade, Khaled bin Abdullah, also attended
Paramount picks new group CEO
Steve Griessel, the new CEO of the Paramount Group will be providing strategic, financial and operational leadership to the company...South Africa born Griessel has served several companies as CEO in South Africa and the US
Griessel has business leadership and senior management experience of more than 30 years
Masdar, W Solar Investment partner to develop renewable energy projects
Masdar, one of the world’s leading renewable energy companies, and W Solar Investment, a subsidiary of Alpha Dhabi Holding, and...The new company, MW Energy Limited, will act as a development platform, focusing initially on a pre-identified pipeline of projects
The JVC will focus initially on the development of pre-identified projects, primarily in Africa and in the Commonwealth of Independent States (CIS) region
Tourism helps UAE add $158bn to GDP in six years
Around 31 million visitors are expected to enter the UAE yearly by 2025 as the country has initiated several measures...UAE’s total annual visitor spending is expected to reach about $64bn in 2028.
Tourism is expected to contribute $76bn annually to the UAE's GDP by 2028.
Saudi Arabia, Romania sign wide-ranging defense agreement
Saudi Arabia and Romania signed on Tuesday a defense cooperation agreement that covers training, exchange of expertise, technologies, developing communications...The pact includes training, exchange of expertise, technologies and developing communications systems.
The agreement is in line with the two sides’ commitment to promote and encourage international peace, media reports said.
Saudi merchandise exports shot up 82.5 percent
According to a report by General Authority for Statistics (GASTAT), the overall merchandise exports of Saudi Arabia increased by 82.5%...The value of exports amounted to SAR 107.3 billion ($28.61 billion) in November 2021, up from SAR 58.8 billion ($15.68 billion) in November 2020
This increase originated mainly from oil exports, which rose by SAR 43.1 billion ($11.49 billion) or 112.8% in the same period
American companies willing to invest in Tunisia: Ambassador Blome
A number of US companies are willing to invest in basic infrastructure and logistics to support Tunisia's efforts in this...Tunisian Transport Minister Rabii Majidi expressed the will to further strengthen cooperation with the United States.
Both parties exchanged views on the draft bilateral agreement in the field of air transport. The US ambassador urged stepping up talks to materialize this agreement.
Pfizer-BioNTech Omicron vaccine trial gets underway
Pfizer and BioNTech have begun enrollment for a clinical trial to test the safety and immune response of their Omicron-specific...Pfizer's CEO Albert Bourla has previously said that the pharmaceutical giant could be ready to file for regulatory approval of the shot by March
The trial will involve 1,420 people aged 18-55
