CBUAE cancels license of First Insurance Brokers Company
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) has cancelled the license of First Insurance Brokers Company...Business Banking & Finance Geostrategy
Wars to cast pall over meeting of global VIPs in Davos
Paris, France - The world's political and business elites will convene in Davos next week, with wars in Gaza and Ukraine...Business Economy
Brazil’s InvestSP joins Global Logistics Passport initiative
InvestSP Corporation and the Global Logistics Passport initiative have signed a Memorandum of Understanding or MoU for better shipping and...Members of the Global Logistics Passport Initiative can expect an annual increase in trade of 5-10 percent
As merchants benefit from more efficient commodity movements, new trade routes are expected to be opened
Etisalat Q3 revenue up 2%
The aggregate subscriber base increases by 4 percent YoY.Net profit amounts to AED 2.4 billion, an increase of 1 percent compared to the same period last year.
The company said that in the UAE, its subscriber base reached 12 million.
DEWA wins Guinness World Record for first 3D lab in world
Dubai Electricity and Water Authority (DEWA) has another accomplishment to its credit, achieving the Guinness World Records title for the...The record was awarded for DEWA’s Robotics & Drone laboratory, housed within the Research & Development (R&D) Centre
Al Tayer emphasized that Dubai provides a motivational environment to encourage construction in 3D printing
10 big companies that changed their names
It was nothing new when Facebook changed its name to Meta, and invited people to the Metaverse. TRENDS has curated...While some have changed their names entirely, others have made only small alterations to the original names
They have achieved varying degrees of success by changing their names
Dubai increases ease of doing business by more than half
This was more than double the target of 30 percent reduction in business setup procedures that the emirate had set...The move is said to be part of Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum’s vision to make the emirate economically attractive
The vision looks to achieve this by helping entrepreneurs set up and run businesses much more easily
Maersk lands Saudi deal
Maersk will set up a Logistics Park at Jeddah Islamic Port.Maersk will set up an Integrated Logistics Park at Jeddah Islamic Port, investing more than SAR500m
The agreement is a step to make Jeddah Islamic Port among the top ten ports in the world by 2030
Etisalat Q3 revenues rise 2%
Its consolidated revenues in Q3 reached AED13.3bn ($3.62bn).Consolidated net profit after Federal Royalty amounted to AED2.4 billion ($653.5 million), an increase of 1 percent
Consolidated EBITDA amounted to AED 6.7 billion ($1.82 billion), resulting in an EBITDA margin of 51 percent
Israel eyes influx of tourists from UAE, Bahrain
Israel is anticipating a significant influx of Emirati and Bahraini tourists as the global tourism industry starts recovering from the...Israel expects 100,000 tourists a year from the UAE and Bahrain, with each tourist spending $1,500 per vacation
The Jewish state is expected to make $150 million annually in revenues from the Gulf tourists
Two Saudi defense firms sign contract to build SkyGuard UAV
Saudi Arabia's General Authority for Military Industries (GAMI) and Saudi Arabian Military Industries (SAMI) have signed a contract for the...SkyGuard is the outcome of numerous R&D efforts and geared towards developing a 'truly local' product.
Saudi Arabia has set a target of spending 50 percent of expenditure on locally manufactured defense products and services by 2030.
Masdar City and ADRO facilitating Golden Visas for eligible persons
Masdar City Free Zone has been facilitating the processing and submission of Golden Visas for eligible persons and their families...The Golden Visa is a 10-year residency for certain professions including specialized degree-holders and others.
Golden Visa is of particular relevance to Masdar City as it hosts more than 900 companies, says Executive Director Abdulla Balalaa.
