Qatar’s foreign merchandise trade surplus $5.13 billion in Dec 2023
Doha, Qatar - Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...Business
Philips to halt sales of sleep machines in US
It posted losses to the tune of US$502m during the year 2023.Business
UAE and Greek credit insurance organizations to promote businesses
The UAE's federal export credit company Etihad Credit Insurance (ECI) signed an MoU with Greece’s Export Credit Insurance Organization (ECIO)...An MoU between Etihad Credit Insurance and Greece’s Export Credit Insurance Organization will also promote SMEs.
This agreement follows the recent UAE-Greece high-level diplomatic meetings between the ministers of both countries.
Kuwait begins a drive to educate people on virtual assets
The Central Bank of Kuwait (CBK) and Capital Market Authority (CMA) have launched a campaign to educate people about virtual...The CBK and the CMA said in a joint statement on Sunday the campaign was launched as part of efforts to raise people's awareness as how to deal with these assets
Traders in the digital assets are prone to fall prey to scam, thus these online dealings are quite risky, particularly for individuals
EPG to bring out NFT stamps on National Day
To commemorate the UAE’s National Day, Emirates Post Group (EPG) will issue non-fungible token (NFT) stamps, the first in the...These innovative NFT stamps will have a digital twin in the blockchain and will be sold as digital collectibles linked to its physical stamp counterpart
Buyers will only get to see the digital design linked to the physical stamp after scanning the QR code printed on the front side of the card
ENOC Group records strong growth in supply of lubricants Idemitsu
"Our successful partnership with Idemitsu underlines the Group’s strong competencies in the lubricants business,” Saif Humaid Al Falasi, Group CEO,...ENOC Group plans to expand its geographical reach to Jordan, Kuwait, Yemen, Sudan, Ghana, Nigeria, Ethiopia, Tajikistan and Uzbekistan by end of 2021
In 2020, ENOC signed an agreement with Idemitsu to produce, distribute and manage the supply of lubricants for Idemitsu and Japanese OEM clients
ECI partners with Tradeling for business growth in MENA region
Under the agreement, the ECI will provide Tradeling’s customers with a broad range of trade credit insurance solutions.Under the agreement, the ECI will provide Tradeling’s customers with a broad range of trade credit insurance solutions
In addition to ECI Islamic and SME Protect, other innovative trade credit insurance products will benefit small, mid-cap and large enterprises using Tradeling’s platform
QFZA, Alfardan Automotive partner to build logistical hub
Alfardan Automotive's regional center will be located in the mobility industries cluster in Umm Al Houl Free Zone, located near...The hub will cover an area of more than 67,000 square meters and will utilize the latest logistics systems and processes to import vehicles
QFZA has created specialized clusters within the zones for specific sectors, including maritime, logistics and emerging technology
AD Ports Group inks deal to boost Bahrain cruise sector
Abu Dhabi-based AD Ports Group has inked an initial agreement with Bahrain-based real-estate firms Diyar Al Muharraq and the Eagle...Bahrain is tipped to become the fourth high-performing cruise destination in the Arabian Gulf
It witnessed an increase in annual arrivals in recent years, observing a record high of 130,778 passengers in 2019
Weibo plans $547m HK listing
Hong Kong listing is seen as a hedge against removal from US exchangesListing in Hong Kong is seen as a hedge against the risk of being removed from US exchanges
China also has been encouraging its big tech players to list either in Hong Kong or Shanghai
Pandemic to cost global tourism $2trn
International tourist arrivals will this year remain 70-75 percent below the 1.5 billion arrivals recorded in 2019, before the pandemic...In addition to virus-related travel restrictions, the tourism sector is also grappling with the economic strain caused by the pandemic
The spike in oils prices and the disruption of supply chains are also complicating matters
AED100m endowment funds ‘Khalifa University Enterprises Company’
The KUEC will aim to encourage technology investors and entrepreneurs to partner with the University to commercialize its growing patent...The KUEC will include ‘Innovation Acceleration and Startups’ and ‘KU Ventures’, which will support establishing and operating non-IP technology companies
KUEC also includes the Endowment Fund that will allocate funding for investments and operations
