Sharjah, Sfax chambers look to boost ties between UAE and Tunisia
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and the Chamber of Commerce and Industry of Sfax, Tunisia, held...Business
Saudi Arabia signs MoUs with four countries for development in mining industry
RIYADH, SAUDI ARABIA – The Ministry of Industry and Mineral Resources has signed four Memorandums of Understanding (MoUs) with the...Business Geostrategy Global
India’s SGL opens plant in HFZA
The plant involves an initial investment of AED 50mn.Automotive, industrial and construction lubricants and special greases for electric vehicles will be produced at the plant.
Named Trinity Lubes & Greases FZC, the facility has a production capacity of 48,000 liters annually in the initial stage.
QLM’s net profit in Q3 $20.4 million
Gross written premium as of Sept. 30 was QAR 750 million.The gap in gross written premium continues to narrow down as compared to previous quarters, the company said.
The net investment income by September was QAR 29.2 million, compared with QAR 30.3 million for the same period in 2020.
560 foreign firms operate in Al Wusta governorate of Oman: Official
As many as 560 foreign companies are operating in the Omani governorate of Al Wusta and their capital investments by...By the end of Sept. 2021, the capital investment of these firms reached $3.37 billion.
The number of industrial licenses registered in Al Wusta during the first nine months of 2021 was 177.
China aims to cut fossil energy use to below 20% by 2060
China is targeting an ambitious clean energy goal of reducing fossil fuel use to under 20 percent by 2060, according...The document follows a pledge by President Xi Jinping to wean the world's biggest polluter off coal
But the country has been criticized for pushing ahead with opening dozens of new coal power plants
The largest Arab container ports in the world
There are about 186 major maritime container ports worldwide. Do you know the names of the biggest container ports in...Trade between nations has always made a significant contribution in terms of increasing wealth among the world population.
Today, more than 80 percent of all trade is seaborne and maritime ports are playing significant for commercial and navigational purposes
National Aviation Services buys 51% stake in Siginon Aviation
The Kuwait-based National Aviation Services (NAS), a subsidiary of Kuwait-based logistics provider Agility Public Warehousing, has acquired 51 per cent...Siginon Aviation is the largest aviation cargo management and ground handling company in Kenya
The company did not disclose the cost of the deal, but it said the enterprise value is approximately 12 million Kuwaiti dinars ($40 million).
STC net profit $2.32 bn for 9 months
Net profit in Q3 alone increased by 5.71 percentThe company attributed the rise in profits in the third quarter to the rise in revenues and a decrease in operating expenses.
STC's shares are up nearly 20 percent so far this year
Dubai looks to become equine industry hub
The emirate will see a number of new initiatives that will bring new opportunities to the sector, Sheikh Rashid bin...The annual cost of caring for a racehorse training in the UAE is about $30,000
The total money spent by the sector in the country for racehorse training is $570 million
Al Rajhi Bank’s net profit vaults 44% to $2.86bn
Al Rajhi Bank of Saudi Arabia posted a 44 percent rise in net profit to $2.86 billion for the first...The higher net profit for Q3 2021 is spurred by 43 percent year-on-year to SR 3.794 billion, compared to the third quarter of 2020
The bank attributed the profit increase to the rise in total operating income by 26.4 percent, as a result of higher net financing and investment income
Saudi National Bank posts 20% jump in net profit to $1bn
Saudi National Bank (SNB), the kingdom’s biggest lender, has posted a nearly 20% jump in net profit to $1 billion...SNB reported a net profit of 3.8 billion riyals ($1.0 billion) for the quarter that ended on Sept. 30, up from 3.2 billion riyals in the same period a year earlier
The result was better than the 3.6 billion riyals average analysts' forecast
