Dubai’s RERA signs MoU with Zand Digital Bank
Dubai, UAE--The Real Estate Regulatory Agency (RERA), the regulatory arm of Dubai Land Department (DLD), signed a memorandum of understanding...Business
Mubadala lists dollar, dirham bonds
This is Mubadala's seventh listing of a green debt instrument on ADX.Company News Business
Dubai court orders Marka managers, directors to settle $122m debt
A Dubai court has ordered the managers and directors of Marka Holdings to repay the company’s AED448 million (around $128...The court ruled that the managers and directors of the company had mismanaged it, leading to an underfunded bankruptcy
An underfunded bankruptcy is one where the entirety of the company’s assets is less than 20 percent of its outstanding debt
YahSat Q3 profit down 38 percent
YahSat said its contracted future revenues are over $2 billion.Yahsat said a final dividend of $52.5 million for 2021 is expected to be paid to all shareholders in April 2022.
YahSat was last week appointed by the UAE government to complete a detailed analysis, assessment and recommendation for two new satellites.
EGA increases Al Taweelah smelter plant’s capacity by 78,000 tons per year
Emirates Global Aluminium (EGA) has increased the production capacity at Abu Dhabi's Al Taweelah smelter by 78,000 tons per year....The plant adds 66 new reduction cells that were built using EGA's locally developed technology.
He said all 2,843 reduction cells at EGA use the company's own efficient technology developed in the UAE, says EGA CEO.
Organic farmers find fertile ground in North Africa
In Tunisia, the land dedicated to organic farming has multiplied 20-fold since 2001. In Morocco, the area of farmland certified...Despite its small size, Tunisia ranks 30th in the world and first in Africa in terms of area certified for organic farming.
Moroccan authorities are trying to develop the sector with the Green Morocco Plan, which helps farmers cover the costs of getting certified.
Tadawul of Saudi Arabia to list its IPO on the bourse
Tadawul, the owner of Saudi Arabia's stock exchange, will proceed with its initial public offering (IPO) and list the shares...The operator of the bourse will offer 36 million ordinary shares, representing 30 percent of its issued share capital of 120 million shares
This comes after the Gulf state’s regulator, Capital Markets Authority (CMA), signed off on the exchange’s IPO last week
Algerian farmer’s olive oil wins global recognition
Hakim Alileche left a successful career in graphic design and moved to the Algerian countryside to produce "magic potion" --...The 48-year-old says he chose the Ain Oussera plateau for its cheap land and water supply
His oil won first prize at the Dubai Olive Oil Competition in the Extra Virgin Early Harvest category in February 2021
Axa insurance Q3 premiums down 7 percent
Q3 net profit down 18 percent from the same period last year.The firm's total comprehensive income also dropped 36 percent to 38 million riyals.
Axa said the fall in net profit can be attributed to the overall decrease in insurance results and an increase in investment income.
Colombia targets $1bn trade and direct flights with UAE
Colombia sees the UAE as a potential partner for growth in bilateral trade, economy, and tourism.Non-oil bilateral trade between the two countries amounted to $176 million in the first half of 2019
The two nations are also in talks over signing a MoU for double taxation avoidance
Sharjah earmarks $1.23m to support publishers
The gesture aims to provide public and government libraries in Sharjah with various modern publications in all Arab and foreign...Sharjah ruler Sheikh Sultan bin Muhammad Al Qasimi has directed the allocation AED4.5 million (around $1.23 million) to help publishing houses
The amount will be used to purchase the latest publications from publishing houses participating in the Sharjah International Book Fair
Air France inks Dubai deals
It has signed sustainable aviation fuel deals with Dubai firms.A high-level Air France delegation held strategic meetings with aviation leaders based in Dubai at Expo 2020
The networking event was organized in partnership with the lille3000 association and sponsored by Clarins
