25,647 new economic licenses issued in Abu Dhabi in 2023, says ADDED report
ABU DHABI, UAE - The Abu Dhabi's “Business Activity Report” for the year 2023, issued by the Abu Dhabi Department...Business Economy
Hong Kong court orders liquidation of China’s Evergrande
Evergrande's demise has been closely watched as it was once a pillar of China's economy, with the construction and property...Business
Oman’s economic city Khazaen signs two pacts to carry out vital projects
Khazaen, Oman's fully integrated economic city, has signed two agreements worth more than Omani Riyal 1.5 million ($3.8 million) with...One of the agreements signed with an Omani company named Western Door Trading to set up a multipurpose logistics center.
The second agreement provides for the setting up of a processing unit and a warehouse with a capacity 20 tons a day.
12 Ajman banks sign pact with Department of Finance for easy payment plan
The Ajman’s Department of Finance has signed agreements with 12 local banks to offer an "easy payment plan", which allows...The plan allows payments for government service fees through installments through Ajman Pay platform.
Conditions and steps to apply for easy payment plan are defined by the participating banks.
Cooperation, security remain focus of GCC summit
The GCC leaders discuss political issues and security challenges that require intensified efforts to enhance regional solidarity.The GCC leaders discuss political issues and security challenges that require intensified efforts to enhance regional solidarity
The 42nd session of the Supreme Council of the GCC countries, chaired by Saudi Arabia, seeks to strengthen the process of cooperation
Borouge and ADNOC sign agreement
ADNOC L&S will manage integrated logistics for Borouge.The pact covers transportation and handling operations for Borouge-manufactured polymer products at Khalifa Port for export.
The new agreement will see 85 percent of its value flow back to the UAE’s economy, accelerating the development of critical local supply chain functions.
Mubadala and Bahrain’s sovereign wealth fund Mumtalakat sign pact
Mubadala Investment Company and Bahrain Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom of Bahrain, Tuesday signed a...The two entities will exchange knowledge and best practices to enhance investment and operational capabilities.
Our partnership with Mubadala will strengthen our collective operational capacity and bolster our historical ties.
Asia markets down on Omicron, Fed tapering fears
Beyond property woes and virus fears, all eyes this week are on the Fed, which must carefully calibrate its response...After last week's strong performance, stocks have stumbled this week as Britain struggled with its response to the Omicron strain
The US Federal Reserve is scheduled to announce its latest interest-rate decision on Wednesday
Saudi Arabia, UAE fashion industry set for boom
The UAE and Saudi Arabia seem poised to see their respective fashion sectors double their revenues in the near future.The ecommerce boom has led to more and more people buying apparel and accessories online
They are doing so especially after they check reviews and sustainability factors of their intended purchase
Elon Musk named Time magazine person of the year
Musk, the world's wealthiest person wields impact on Earth with his Tesla electric car company and beyond our planet with...Musk, the world's wealthiest person wields impact on Earth with his Tesla electric car company and beyond our planet with his SpaceX rockets
"Musk's rise coincides with broader trends of which he and his fellow technology magnates are part cause and part effect," Time editor-in-chief Edward Felsenthal wrote
Emaar Properties tops Forbes list of 50 Middle East real estate firms
Forbes Middle East also unveiled a ranking of the "Top 10 Construction Companies in MENA 2021".Developers from nine countries feature in the Forbes Middle East list. The UAE leads with 17 companies on the list.
The list was developed based on financials, reputation, company’s age, value of projects completed and projects under construction.
Trade between Mexico and UAE grew by 38 percent in last five years
Mexico-UAE bilateral trade has witnessed an approximate 38 percent upsurge in the past five years (2016-2020), a senior Mexican official...The bilateral trade between 2016 and 2020 registered an average annual growth rate of 6.7 percent, from $511m in 2016 to $705.1m in 2020.
Mexico has the capacity to be a strategic partner for it in the agri-food sector, said Martha Delgado Mexican Vice Minister for Multilateral Affairs.
