Saudi Arabia leads GCC in project awards this year
The 2024 outlook for the MENA region's project market is exceptional, with an anticipated surpassing of $270 billion in value,...Business
UAE banks saw 80% growth in deposits in 10 years
Deposits at banks in the UAE grew 80 percent to AED1,884 billion ($513 billion) in 2020 from AED1,049 billion ($285.64...The number of commercial banks operating in the UAE totaled 58 in 2020 against 51 in 2010
The licensed insurance companies increased from 238 in 2010 to 314 in 2015 to 406 in 2020
World’s 10 richest men doubled wealth during pandemic, says Oxfam
Oxfam said the men's wealth jumped from $700 billion to $1.5 trillion, at an average rate of $1.3 billion per...Oxfam said in its report that the pandemic has plunged 160 million people into poverty
Non-white ethnic minorities and women bore the brunt of the impact as inequality soared, it added
Amman Chamber of Industry exports up by 17 percent in 2021
The exports of the Amman Chamber of Industry (ACI) increased last year in 2021 to "high" levels, compared to 2019,...The United States, India, Saudi Arabia and Iraq accounted for the majority of the Chamber's exports last year, with a value of JD3.111 billion.
ACI exports rose during the same year to many Arab and foreign countries, most notably Indonesia, Egypt, Brazil, Algeria, Turkey, Sudan, Yemen and Malaysia.
Breakbulk Middle East to host top female executives, discuss challenges
Middle East’s largest breakbulk and project cargo event Breakbulk Middle East will host the ‘Women in Breakbulk Breakfast’, as part...A 2021 survey conducted by Gartner Inc shows that women comprise 41 percent of the supply chain workforce in 2021, up from 39 percent in 2020.
The primary aim of BBME is to bridge the gender gap in the breakbulk and project cargo industry.
Dubai records biggest real estate deals worth $41bn in 12 years
During the course of last year, Dubai real estate saw a momentous growth, resulting in deals worth close to $41.1...The total number of deals last year reached 61,241, the largest number since 2013, according to media reports
Of these deals, ready made properties accounted for 60 percent of total real estate transactions in Dubai in 2021, while the rest was made up of off-plan properties
SMEH of Saudi Arabia fixes price range for IPO
Scientific and Medical Equipment House of Saudi Arabia has set a price range between $12-13.9 per share for its offer...The book-building period for participating entities will run from Jan. 17 to Jan. 27, 2022, a bourse statement by the offering’s book-runner, Alistithmar Capital, revealed
Shares devoted to participating entities will stand at 6 million shares, representing the full offering of 30 percent of the company’s capital
Sharjah Publishing City Free Zone registers 2,000 new companies in 2021
A total of 2,000 new companies from 106 countries registered with the Sharjah Publishing City Free Zone (SPC Free Zone)...Most of these companies were from the UK, India, Pakistan, the Philippines, and Lebanon.
SPC provides 600 furnished offices for publishing entrepreneurs and 6,000 square meters of space for investors.
Dubai eyes top global livability spot
DET and HSBC Bank Middle East have signed a Memorandum of Understanding (MoU), paving the way for increased cooperation in...Under the terms of the agreement, DET and HSBC will promote to HSBC customers and employees the unparalleled quality of life in Dubai
The MoU was signed by Issam Kazim, Chief Executive Officer, Dubai Corporation for Tourism and Commerce Marketing; and Abdulfattah Sharaf, CEO of HSBC UAE
Production capacity of Al Maktoum Solar Park’s fifth phase up by 30MW
The production capacity of the first project of the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park...The increased production results from using the latest solar photovoltaic bifacial technologies.
The 900-megawatt fifth phase, with investments of AED 2.058 billion, is 60 percent complete.
Securrency Capital picks advisor
Ryan Lemand has joined the brokerage as a board advisor.Lemand holds a PhD in financial econometrics, and is the author of two books on financial contagion
Securrency Capital is a blockchain-enabled brokerage providing access to trading in traditional and digital assets
