American Airlines orders 260 jets
It is part of the airlines' effort to 'modernize' its fleet.
Business
Business
GSCCO enhances Jubail port
The company is part of the UAE-based Gulftrainer group.
- GSCCO has carried out enhancements to the Jubail Commercial Port in Saudi Arabia to increase its capacity
- With the upgrades, the port now has the capacity to process 1.8 million 20-foot containers or TEUs per year
Economy
Qatar, Poland to enhance cooperation: Polish Deputy Foreign Minister
Deputy Foreign Minister Pawel Jablonski of Poland said on Monday that Poland and Qatar can increase their cooperation in many...
- Jablonski said that his current visit to Doha aims to discuss new opportunities to support and advance economic, investment and tourism cooperation
- He also discussed with Qatari officials ways to enhance cooperation with the Qatar-Poland Business Council, the Qatar Financial Center, the Qatar Free Zones Authority
Business
Meta launches MENA campaign against child abuse
In the eye of the storm of allegations that it did not act against child abuse, Meta said the campaign...
- Facebook and Instagram’s parent Meta has launched the “Report it, Don’t Share it” campaign in the MENA region
- In the eye of the storm of allegations that it did not act against child abuse and exploitation, Meta said the campaign will prevent exactly those things
Interview
E-commerce leads change in Mideast retail, fashion
"During the pandemic, e-commerce grew in popularity since it was the most viable — or only — choice at the...
- The emphasis on value fashion is a structural shift that is part of the new normal
- Building a hyper-convenient service ecosystem can significantly increase reach and profitability
Business
Companies in UAE should invest in technology to stay ahead of digital curve: Microsoft Hololens chief
With the current global circumstances accelerating the need for immersive tools such as augmented reality and virtual reality, businesses across...
- Pace said that collaboration and investment were key to empowering businesses
- She works with a team in San Francisco, US, to address technical challenges to push the barriers and unlock solution
Business
Turkey turns to OECD agreement instead of digital tax
The US Treasury has said in a statement that the deal with Turkey "represents a pragmatic solution.”
- Turkey had levied 7.5 percent tax on foreign tech firms that generate at least $1.7 million per year in revenue in the country
- In response, the US had imposed, but did not collect, tariffs on Turkey, which it will do away with now
Business
UAE’s largest non-oil industrial company joins in-country value program
Emirates Global Aluminum (EGA), the largest industrial company in the UAE outside of oil and gas, has joined the in-country...
- Emirates Global Aluminum targets doubling its economic impact by 2040.
- ICV program is aimed at improving participation of the private sector and facilitating the diversification of GDP.
Business
Maaden of KSA sets up a fertilizer terminal in Africa
Saudi Arabian Mining Co., has established a fertilizer terminal in the African state of Malawi through its subsidiary, the Meridian...
- The state-of-the-art terminal has an annual bagging capacity of 10 million, and a total production capacity of 360,000 MT per year
- The terminal will make available a steady supply of fertilizer to over five million small-hold farmers in Malawi and Zambia
Business
600,000 fish fingerlings delivered to UAE aquaculture companies
A total of 600,000 fish fingerlings have been delivered to several aquaculture companies in the UAE, including Emirates National Fish...
- Sheikh Khalifa Marine Research Centre, which underwent a renovation, delivered the fingerlings.
- The Centre’s hatchery has the capacity to produce 30m fingerlings per year, said Mariam bint Mohammed Almheiri, Minister of Climate Change.
Business
Nuqtah of Saudi Arabia closes pre-seed funding run
Nuqtah, Saudi Arabia’s first non-fungible token marketplace, has closed its pre-seed funding run, but it has not revealed how much...
- The company which was founded this year enables artists to register and trace their work, and serves as a global platform for buyers
- The global NFT market value has seen substantial growth in the past 12 months, rising to $2 billion in the first quarter of 2021
Company News
Advanced secures $586m loan
Business
Latest News
Facebook and Instagram users in Europe to have greater viewing control
One of the changes announced by Nick Clegg, Meta's president of global affairs, includes giving European users of Facebook and...
Business
Microsoft submits new Activision deal
A previous version of the acquisition deal was blocked.
Business
Stocks advance but traders wary of US rates outlook, China concerns
The gains, including a jump in US tech stocks, "looked more like a correction than a reaction to fresh news,...
Business
Most Read
Business
Iran exports non-oil products worth $2.9bn to Iraq in four months
Tehran, Iran -- Iran exported $2.9 billion worth of non-oil products to Iraq in the first four months of the...
- Director General of the TPOI for West Asian Affairs Farzad Piltan said Iran exported $541 million worth of products to Iraq in 2022.
- It is predicted that Iran’s export of non-oil products to Iraq will reach $10.5 billion by the end of the current year (March 20, 2024).
Business
RAKEZ witnesses 35 percent growth in holding company registrations
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) reported a remarkable surge in the registration of holding...
- Holding companies can benefit from the UAE's favorable tax environment, a key factor boosting global investors' appeal.
- This structure offers enhanced protection against potential risks and legal claims, an essential feature in today's complex business landscape.
Business
DGCX waives fees for Shari’ah compliant Spot Gold Contract
Dubai, UAE -- The Dubai Gold & Commodities Exchange (DGCX) Tuesday said it is waiving trading, clearing and delivery fees...
- DGCX will waive the fee until 31 December 2023. This fee waiver excludes the SCA fee of $0.03.
- The Exchange is also seeking approval from SCA to waive fees for its Gold Futures contract.