Business
GMIS, FAB to enhance SME’s access to finance, drive industrial growth
The Global Manufacturing and Industrialisation Summit (GMIS) announced on Thursday a partnership with First Abu Dhabi Bank (FAB), that will...
- The GMIS-FAB partnership will also highlight the importance of ‘green finance’.
- GMIS 2021 will be held alongside the six-day GMIS Week from November 22-27 at the Expo.
Business
Emirates to launch daily Dubai-Tel Aviv flights from Dec.6
Emirates is to start daily flights between Dubai and Tel Aviv on December 6, the airline announced, in the latest...
- Abu Dhabi-based airline Etihad and Israeli carrier Arkia now also offer regular flights.
- Emirates said the new service would also link Israel seamlessly with its global route network.
Business
Finfluencers turn to TikTok to peddle investment advice
Across the globe, investment gurus in their 20s are building huge followings on social media.
- Fintok and Stocktok finfluencers have made their influence on TikTok
- Reels and videos made on stocks and finance education getting viral on this world of entertainment
Business
Toyota lifts annual profit forecast despite production cuts
The world's top-selling automaker has recovered quicker than its competitors from some of the impact from Covid.
- The world's top-selling automaker has recovered quicker than its competitors from some of the impact from Covid
- The global shortage of microchips -- essential components of modern cars -- has forced many automakers to slow or temporarily halt production
Business
Egypt’s Breadfast to expand to Middle East, gets $26M backing
The investors include lead investors Vostok New Ventures and Endure Capital and participating investors JAM Fund (led by Tinder co-founder...
- The investment is coming two years after Breadfast raised a $2 million
- In total, the company has secured more than $30 million
Business
Dubai’s Wednesday realty transactions worth AED1.1 bn
The sales covered 314 villas and apartments worth AED645.92 million, and 29 land plots worth AED216.81 million.
- The sales covered 314 villas and apartments worth AED645.92 million, and 29 land plots worth AED216.81 million
- The mortgages included 52 villas and apartments worth AED123.74 million and 10 land plots valued at AED45.14 million
Business
Nayifat sets IPO offer price
The IPO kicks off on November 7 and ends on November 8.
- The listing would result in a market capitalization of SAR 3,400 million (USD 907 million)
- The book-building process generated an order book of SAR 162 billion that was 136x oversubscribed
Business
UAE provides $10m in aid to Turkey
The United Arab Emirates has announced the provision of $10 million to contribute to the reconstruction of some Turkish regions...
- the UAE expressed its solidarity with the Turkish people in these exceptional circumstances
- The move follows the directives of Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi
Business
Herfy Foods appoints new CEO
Saudi Arabia’s Herfy Food Services Company (Herfy Foods) has appointed Sam Bader as CEO, after he served as acting CEO.
- “The board of directors of Herfy Food Services Co extends its appreciate and gratitude for the efforts made by Mr Sam Bader during his term of acting CEO"
- The company said Bader had started his career with BK USA, then worked for McDonald’s International USA
Business
DCT Abu Dhabi, Hub71 partner to advance tourism, culture through startups
Hub71, Abu Dhabi’s global tech ecosystem, and the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) will...
- DCT Abu Dhabi will fund the Proof Of Concepts (POCs) of the startups identified for future work.
- Hub71 will provide DCT Abu Dhabi with access to a broad pipeline of startups, regionally and globally.
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Saudis, Emiratis gain wealth, but disparity remains
In 2022, 45 percent of adults in Saudi Arabia had a net worth of less than $10,000, against 43 percent...
Economy
Riyad Capital okays 2.5% cash dividend
The SAR 0.25 per unit dividend will be paid to Riyad REIT Fund's unitholders.
Business
Bahrain supports AI tendering platform, Procural, to create jobs
Manama, Bahrain - Tamkeen, a semi-autonomous government agency, tasked with developing Bahrain's private sector has decided to support the Bahrain-based...
Economy
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Business
Oman Air Cargo revenue up
Its cargo revenue recorded a 42% jump in H1 to US$57.9m.
- Oman Air Cargo said that the jump in cargo aligns with the carrier's aim to retain its strong position in the market
- Launched in 2009, the airline has sustained an upward trajectory despite a fall in yield compared to the previous year
Social media app TweetDeck placed behind paywall
The social media firm, bought by billionaire Elon Musk last year, has been thrashing around for ways to make a...
- X announced in July that TweetDeck would be available only to "verified" account holders from August
- On Tuesday, users attempting to access the service were required to pay for X's blue checkmark verification for an annual fee of $84
Business
Saudi Arabia lures football stars with big money
From Cristiano Ronaldo to Neymar, the kingdom is offering eye-watering salaries to international football stars to bring them over from...
- Ronaldo's arrival in January to play for Al-Nassr drew global attention to ongoing efforts to boost the Saudi Pro League
- The signing up of Neymar, Brazil forward who quit Paris Saint-Germain after six seasons, for Al-Hilal is another coup for the Saudis