Qatar’s foreign merchandise trade surplus $4.58 billion in Nov 2023
Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...Business
From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...Business Economy Energy Geostrategy Global
Egypt’s Breadfast to expand to Middle East, gets $26M backing
The investors include lead investors Vostok New Ventures and Endure Capital and participating investors JAM Fund (led by Tinder co-founder...The investment is coming two years after Breadfast raised a $2 million
In total, the company has secured more than $30 million
Dubai’s Wednesday realty transactions worth AED1.1 bn
The sales covered 314 villas and apartments worth AED645.92 million, and 29 land plots worth AED216.81 million.The sales covered 314 villas and apartments worth AED645.92 million, and 29 land plots worth AED216.81 million
The mortgages included 52 villas and apartments worth AED123.74 million and 10 land plots valued at AED45.14 million
Nayifat sets IPO offer price
The IPO kicks off on November 7 and ends on November 8.The listing would result in a market capitalization of SAR 3,400 million (USD 907 million)
The book-building process generated an order book of SAR 162 billion that was 136x oversubscribed
UAE provides $10m in aid to Turkey
The United Arab Emirates has announced the provision of $10 million to contribute to the reconstruction of some Turkish regions...the UAE expressed its solidarity with the Turkish people in these exceptional circumstances
The move follows the directives of Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi
Herfy Foods appoints new CEO
Saudi Arabia’s Herfy Food Services Company (Herfy Foods) has appointed Sam Bader as CEO, after he served as acting CEO.“The board of directors of Herfy Food Services Co extends its appreciate and gratitude for the efforts made by Mr Sam Bader during his term of acting CEO"
The company said Bader had started his career with BK USA, then worked for McDonald’s International USA
DCT Abu Dhabi, Hub71 partner to advance tourism, culture through startups
Hub71, Abu Dhabi’s global tech ecosystem, and the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) will...DCT Abu Dhabi will fund the Proof Of Concepts (POCs) of the startups identified for future work.
Hub71 will provide DCT Abu Dhabi with access to a broad pipeline of startups, regionally and globally.
Al Seer Marine net profit $666m
The net profit for the first nine months of 2020 was AED 25.40m.The increase in net profit was driven by a rise in income from investments and recent acquisitions.
The company has acquired Very Large Gas Carriers for transport of LPG through its partnership with BGN International.
Turkey: ‘Eternal’ wine revives Assyrian culture
Only 3,000 or so Assyrians still live in the wider Mardin province, which is part of the historical Mesopotamia region...Only 3,000 Assyrians still live in the wider Mardin province, which is part of the historical Mesopotamia region where some archaeologists believe wine was invented 2,700 years ago
Subjected to discrimination most of the Assyrians have either relocated to Istanbul or emigrated to the West, reducing their number from 700,000 to 15,000 across Turkey today
Three agreements signed in Dubai for self-driving solutions
The first agreement was signed between Careem and Kiwibot to develop food and grocery delivery robots.The first agreement was signed between Careem and Kiwibot to develop food and grocery delivery robots
Majid Al Futtaim and Yandex have partnered to explore the independent technology solutions to enhance the scope of the last-mile delivery of Carrefour orders
Airports grouping ACI Asia Pacific calls for reopening borders
70% passenger loss is forecast for the Middle East which is reeling under lockdowns, travel, and quarantine restrictions and 56%...70% passenger loss is forecast for the Middle East which is reeling under lockdowns, travel, and quarantine restrictions and 56% for the Middle East
Airport revenues are predicted to decline by US$ 34 billion in Asia-Pacific and US$11 billion in the Middle East by the end of 2021
