Jordan, Tunisia to enhance trade, investment relations
AMMAN, JORDAN - The Chairman of the Amman Chamber of Commerce Khalil Haj Tawfiq has called on Jordanian and Tunisian...Business Economy Geostrategy
European stocks firm as markets await US inflation data
London, United Kingdom - Europe's main stock markets steadied Friday as traders reacted to more earnings updates from top companies, while...Business Economy
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.
UAE launches assessment of proliferation financing risks
The United Arab Emirates' Executive Office for AML/CFT and the Executive Office of the Committee for Goods and Materials Subject...The assessment was initiated in recent weeks and is expected to be completed by the end of 2022.
The risk assessment will cover how financial resources may be used to develop nuclear, chemical, and biological weapons.
Boeing reports $4bn loss
Boeing reported a hefty fourth-quarter loss Wednesday on mounting costs associated with the widebody 787, of which it has suspended...The US aviation giant accounted for a total of $3.8 billion in one-time expenses associated with compensating airlines for delayed deliveries
Those costs were the biggest factor in the company's $4.1-billion quarterly loss
Dubai supports expansion of financial markets in UAE : Minister
Finance Minister of Dubai Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum affirmed that his government provided all support needed...Dubai Finance Minister Sheikh Maktoum bin Mohammed bin Rashid said Dubai Mercantile Exchange (DME) was able to gain the confidence of major oil producers.
DME is located within the Dubai International Financial Centre (DIFC), a financial free zone designed to promote financial services.
Dubai Islamic Bank profit rises
Its net profits increased by 39 percent in 2021 to AED 4.4 billion.DIB is the largest Islamic bank in the UAE and the second-largest Islamic bank in the world.
The bank said it proposed to pay a dividend of 25 percent to shareholders subject to the approval of the AGM.
ADNOC is UAE’s most valuable brand for 4th year
ADNOC maintained in 2022 its position as the UAE's most valuable brand for the fourth consecutive year, according to a...ADNOC's US$12.76 billion (AED47 billion) brand value witnessed a 19 percent increase over the previous year
ADNOC ranked the first valuable brand in the UAE, the second in the Middle East and North Africa
Micrsoft startups opens second round of GrowthX Accelerator Program
Microsoft for Startups Middle East Wednesday announced it has opened a second round of applications for Microsoft for Startups’ highly...GrowthX Accelerator and Highway to 100 Unicorns are part of a strategic partnership between Microsoft and the Abu Dhabi Investment Office.
The GrowthX Accelerator brings together corporates with challenges and startups that can build field-ready solutions.
