Jordan, Tunisia to enhance trade, investment relations
AMMAN, JORDAN - The Chairman of the Amman Chamber of Commerce Khalil Haj Tawfiq has called on Jordanian and Tunisian...
Business
European stocks firm as markets await US inflation data
London, United Kingdom - Europe's main stock markets steadied Friday as traders reacted to more earnings updates from top companies, while...
Business
Business
Q3 real estate transactions worth $1.55 billion recorded in Sharjah
Real estate transactions worth AED5.7 billion ($1.55 billion) were recorded in Sharjah during the third quarter of 2021, an increase...
- A total of 1,662 sales transactions were recorded during Q3 2021, showing an increase of 52.5 percent compared to the same period last year.
- About 76 percent (1,262) of the sales transactions were made in the residential sector, followed by industrial sector (206), commercial (152) and agricultural (42).
Expo 2020 DUBAI
Expo 2020 receives 3m visits in first five weeks
It has just been a little more than a month and Expo 2020 has received some three million visits, since...
- Organizers also said that the number of virtual visits to the Expo 2020 Dubai’s online platform has reached 14.8 million since October 1
- Ticket sales for the fair have been beefed up to increase traffic to the fair
Business
Fertiglobe revenues up 175 percent in Q3
The company expects the strong showing to continue in Q4.
- The adjusted EBITDA increased 257 percent to $371 million in Q3 2021 as compared to Q3 2020.
- Fertiglobe will join ADNOC and ADQ as a partner in a new world-scale 1 million metric tons per annum blue ammonia project at TA’ZIZ in Ruwais.
Business
Non-Saudis can now invest in real estate funds in two holy cities
The Capital Market Authority (CMA) of Saudi Arabia allowed the financial market institutions to accept the subscriptions of non-Saudis in...
- The ownership system for non-Saudis in the Kingdom stipulates that non-Saudis are allowed to own real estate for their own residence
- It can happen after obtaining a license from the Ministry of Interior, and for foreign representations to own their official headquarters
Business
Etihad Rail completes construction of UAE network’s first marine bridge
Etihad Rail has completed the construction of a rail bridge connecting Khalifa Port with the UAE National Rail Network. The...
- The bridge will play an important role in improving the transportation of goods in the region.
- Etihad Rail recently completed construction works for Package A of Stage Two, which extends over 139 km.
Business
Investcorp builds €1bn European real estate portfolio
Since launching its European real estate business in 2017, Investcorp has invested close to €1 billion into 80 properties across...
- Since launching its European realty business in 2017, Investcorp has invested €1 billion into 80 properties across the UK, Germany, The Netherlands, and Belgium
- The recent industrial acquisitions comprise three multi-let and seven single-let industrial properties located in Bedford, Warrington, Stone, Gateshead, Stockton-on-Tees, etc
Business
SoftBank posts $3.5bn loss
This is its first quarterly loss since January-March 2020.
- Japan's SoftBank Group has logged its first quarterly net loss in 18 months
- The loss is due to the falling value of investments in its Vision Fund, including Chinese ride-hailing giant Didi Chuxing
Business
Waha Capital reports AED 297mn profit
Net profit for the third quarter stood at AED 32 million.
- The company also maintained an efficient operating model, with a cost to income ratio of 24.5 percent for the trailing twelve months
- The Private Investments business produced a net income of AED 1 million, with the global pandemic and market volatility impacting certain sectors within the portfolio
Business
Colombia starts business forum at Expo 2020
The Matchmaking Forum is one of the most important commercial initiatives of ProColombia, which is being organized at Expo 2020...
- The Matchmaking Forum is being hosted by ProColombia from November 7 to 11
- This event is expected to help companies and investors explore business partnerships
Business
Dubai arbitration center board gets ruler nod
Sheikh Mohammed bin Rashid Al Maktoum has directed the Board of Directors of DIAC to establish Dubai as a leading...
- Dubai ruler Sheikh Mohammed in September ordered the formation of the DIAC
- It saw the merger of the Emirates Maritime Arbitration Center and the Dubai International Financial Center Arbitration Institute
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Jordan, Tunisia to enhance trade, investment relations
AMMAN, JORDAN - The Chairman of the Amman Chamber of Commerce Khalil Haj Tawfiq has called on Jordanian and Tunisian...
Business
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AD Ports Q1 revenue is $494m
Business
Dubai mega-wheel billed as world’s largest stops turning
Ain Dubai (Dubai Eye) was designed as a tourist-luring landmark in the United Arab Emirates' glam-hub, which is home to...
Business
Oman’s natural gas production climbs up 2.3 percent at June end
Muscat, Oman-- Oman's total domestic production of natural gas shot up 2.3 percent to 26.19 billion cubic meters (CBM) until...
Business
To boost tourism, Saudi Arabia expands visitor e-visa to eight more countries
Riyadh, Saudi Arabia-- Looking to boost leisure, business and religious travel to the kingdom, Saudi Arabia will grant visitor e-visa...
Business
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Business
Office rents in Saudi Arabia’s capital grow 12-14 percent in Q2: Report
Riyadh, Saudi Arabia -- Most of Saudi Arabia's real estate market sectors recorded growth in the second quarter of 2023,...
- Grade A office rents in the capital Riyadh growing by 12.2 percent and Grade B rents rising by 14.4 percent year-on-year.
- The residential sector saw a decline in transaction volumes by 38.1 percent in the year to June 2023.
Business
Saudi Arabia’s PIF creates 181,000 jobs in 2022, boosts economy
Saudi Arabia's employment figures received a significant boost in 2022, thanks to the efforts of the Public Investment Fund (PIF),...
- The sovereign fund has ambitious goals and aims to increase its assets under management to SAR4 trillion by 2025.
- The fund's assets under management also saw substantial growth, increasing by 12.8 percent to $595 billion in 2022.
Business
PIF sets up SRJ Sports Investments firm
The investments are expected to localize partnerships.
- The new company will target businesses specialized in offering unique fan engagement activities and transformative sports technology.
- This firm will help bolster Saudi Arabia’s position as one of the world’s leading sports and entertainment destinations.