IHC announces formation of 2PointZero – a next generation holding company
ABU DHABI, UAE - The International Holding Company (IHC) announced the initiation of the transfer of 2PointZero, a next generation...Business
flynas flies over 11m passengers in 2023, up 28 percent from 2022
RIYADH, SAUDI ARABIA – flynas reported record results for its performance in 2023 compared to the previous year 2022, with...Business Aviation
Monshaat attends franchise forum to promote Saudi brands globally
Saudi Arabia's General Authority for Small and Medium Enterprises (Monshaat), represented by the Commercial Franchise Center (Emtiyaz), is participating at...The two-day International Franchise Forum in Dubai will provide 10 Saudi brands opportunity for expansion.
Emtiyaz, which represents Monshaat, is tasked with supporting and empowering local brands.
Sanad secures $100m loan from FAB
The revolving credit facility deal was signed during Dubai Airshow.Sanad said its relationship with FAB is now 10 years old and the two companies have seen over $950 million worth of agreements.
The various financings have been extended in support of Sanad’s global spare engine leasing and component access portfolios.
CBK plans $794 million bonds
The issue's maturity period is six months, with a return rate of 1.250 percent.The issue's maturity period is six months, with a return rate of 1.250 percent
The CBK had issued bonds and tawarruq worth 160 million Kuwaiti Dinars at the beginning of this month, with a return rate of 1.125 percent for a six-month maturity
Iraq to scale up oil exports to 3.4 million barrels a day in Q1 2022
Iraq is expected to scale up its oil exports to 3.4 million barrels per day in the first quarter of...The minister was speaking at the the Defense University for Higher Military Studies, stressing the role of the oil and gas industry in supporting the national economy
"Oil sector companies are working on a planned strategy to develop oil fields, optimize gas investment and use modern technology in manufacturing and refining"
Emirates to retrofit 105 aircraft with Premium Economy product from 2022
Emirates announced at the Dubai Airshow 2021 on Tuesday that it will retrofit 105 of its modern wide-body aircraft with...The aircraft will be retrofitted at Emirates Engineering Centre in Dubai.
The airline is also considering installing a new Business Class product on its Boeing 777 aircraft, with customized seats in a 1-2-1 layout.
Saudi Arabia stares at another round of inflation
The country’s inflation in the last quarter of this year, however, will be relatively stable, SAMA has pointed out. As...Saudi Central Bank cites jumps in global inflation levels and a strengthening of domestic demand as contributors to the rise in consumer prices
On a quarterly basis, however, the country’s inflation in this year’s last quarter will be relatively stable, says SAMA
ADNOC to invest $6 billion more in drilling to ramp up production
Abu Dhabi's national oil company announced Tuesday a $6 billion investment in crude oil drilling as it ramps up production...The investment would "enable drilling growth as it boosts its crude oil production capacity to 5 million barrels per day by 2030", ADNOC said.
The UAE is one of the world's top crude exporters, with an average of 4.2 million barrels per day.
Emirates expects to return to profit in ‘next 18 months’ as losses drop by half
Aviation giant Emirates expects to return to profitability "in the next 18 months" as the sector bounces back from the...The Dubai-based carrier said last week it was on the path to recovery as six-month losses dropped by more than half from a year earlier.
Emirates posted an April-September loss of $1.6 billion, compared with $3.4 billion during the same period in 2020.
Investment Group signs share swap contract with Elegancia
Investment Holding Group Q.P.S.C. has signed a share swap contract with the sellers of the shares of Elegancia Group LLC...The contract, however, will not result in any legal effect until after obtaining the approval of the Qatar Financial Markets Authority
The company will follow and implement all laws and instructions issued by the Qatar Financial Markets Authority
GCC countries warm up to cloud kitchens
Mubarak Jaffar, CEO of the cloud-kitchen firm KLC company, tells TRENDS how virtual kitchens are feeding a growing demand.A virtual or cloud kitchen simply hosts virtual brands that don’t have a store
The kitchen itself doesn’t provide dining services — only delivery — and in some cases takeaway
