Business
EDB and Dubai IE sign pact to offer UAE exporters access to finance
Emirates Development Bank (EDB) has signed a strategic agreement with Dubai Industries & Exports (Dubai IE) to provide innovative financing...
- The finance will help exporters expand their global value chains, said CEO of EDB.
- EDB has also allocated AED30 billion as a direct and indirect financial bundle to finance SMEs, startups, and corporates.
Business
EDGE bags AED11 bn contract to service UAE Air Force
For the first time in the company’s history, the three-year AED11 billion PBL contract will see GAL support the AFAD...
- For the first time in the company’s history, the three-year AED11 billion PBL contract will see GAL support the AFAD with their operational readiness
- The agreement reinforces GAL’s position as one of the Middle East’s leading providers of aviation MRO services and will also streamline AFAD’s processes
Business
MAWANI signs MoU to build cruise terminal at Dammam port
The Saudi Ports Authority (MAWANI) has signed an agreement with Cruise Saudi and Globe Group to build a new cruise...
- New terminal expected to boost the kingdom's tourism sector along the coastlines.
- The agreement with Cruise Saudi and Globe Group elevates Saudi Arabia’s position as a leader in the cruise industry, said President MAWANI.
Business
Tawazun, Airbus to establish new Abu Dhabi subsidiary
The MoU comes as part of Tawazun’s endeavors to attract long-term partnerships with leading defense and security, aviation and aerospace...
- The MoU comes as part of Tawazun’s endeavors to attract long-term partnerships with leading defense and security, aviation and aerospace manufacturing companies
- According to the MoU, Tawazun and Airbus will explore potential cooperation opportunities in the areas of refueling solutions for Military Air Systems, Unmanned Aerial Systems etc
Business
L’Oréal Middle East taps Accenture
Accenture will help L'Oréal Middle East improve its consumer experience.
- Accenture Interactive is expected to use its expertise in data-driven marketing transformation for L'Oréal Middle East
- This, L'Oréal said, will help it develop a more precise and connected approach to increase consumer engagement in the GCC region
Business
Epic Games pulls Fortnite from China
Fortnite’s Chinese test version was released in 2018, but it never got the permission to be formally launched and monetized.
- Epic had announced two weeks ago that it would shut down the Chinese version of the game on November 15
- It noted back then that ‘Fortnite China's Beta test has reached an end,’ and that servers would be closed
Business
ADGM meet promises development
This was the first meeting of ADGM’s new Board of Directors.
- The board members reiterated their commitment to progressing ADGM’s growth journey, and strengthening the financial sector
- They said they were also looking to attract global companies and investments, and develop a business environment underpinned by innovation
Business
Abu Dhabi adds 11 new activities to list of Freelance Professional License
The license allows Abu Dhabi citizens, residents, and non-residents to conduct commercial activities from anywhere in the world.
- To obtain the license, the applicant must have a minimum of three years of experience in the specific field or industry
- Alternatively, they are expected to have earned an academic or professional achievement in that field
Analysis
Value via sustainability gives firms an edge
A sustainability-focused company strategy boosts brand value and efficiency, matches customer demands, attracts top personnel, and opens new doors.
- A McKinsey Global Survey reveals that organizations can become sustainable simply by adopting a set of management strategies
- As per the respondents, organizations are now also likelier to prioritize sustainability and define specific goals and objectives
Business
Emaar property sales at $5.7bn
Emaar Development sales were AED20.943 billion in Jan-Sept 2021.
- The $5.7-billion property sales revenue was said to be an increase of 382 percent compared to the first nine months of 2020
- The build-to-sell property development business is majority-owned by Emaar Properties
Company News
Latest News
Iran-European Union trade reaches $2.5 billion in first half of 2023
Tehran, Iran -- Trade between Iran and the European Union member states reached 2.3 billion euros ($2.5 billion) in the...
Business
Bread-short Tunisia to restore flour supply to some bakeries
Since the beginning of August, European-style bakeries selling baguettes in the formerly French-ruled country had been prevented from accessing their...
Business
Brazilian exports to Arab countries up 8% in seven months
Dubai, UAE -- The Arab Brazilian Chamber of Commerce (ABCC) recorded a surge of 8 percent in Brazilian exports to...
Business
Most Read
Economy
Indonesia president to participate in BRICS summit in South Africa
Jakarta, Indonesia--Indonesian President Joko Widodo departed for South Africa on Sunday to attend the BRICS summit in Johannesburg amid speculation that...
- Before leaving for the BRICS summit, Widodo told reporters that apart from attending the event he will also meet with other world leaders
- Launched in 2009, BRICS aims to tame Western economic domination in global affairs, much to the consternation of the Western political leadership
Business
Al Hilal wins over Fulham striker Mitrovic for US$64m
Saudi Arabia's football clubs continue to win over global stars with Serbian forward Aleksandar Mitrovic becoming the latest player to...
- Fulham said in a statement that it can confirm that Aleksandar Mitrovic has this evening left to join Al Hilal for a record transfer fee
- Mitrovic will be Al Hilal's latest high-profile signing after their swoops for stars like Neymar Neymar, Kalidou Koulibaly and others
Geostrategy
UAE takes part in G20 joint health-finance ministers meeting  Â
GANDHINAGAR, INDIA - Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini and Assistant Minister of Foreign Affairs...
- The meeting discussed the progress made by the Joint Finance and Health Task Force (JFHTF) this year.
- The UAE participated in the three meetings that the Task Force held this year under the G20 Finance Track.