Gold hovers near a month high on slowing US inflation
ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while...
Business
WTO ministers struggle to forge deals as talks go into overtime
ABU DHABI, UAE – World trade ministers were locked in disagreement Thursday on fisheries subsidies, agriculture and digital customs duties as...
Geostrategy
JNTO opens its first office in Dubai in bid to draw more GCC tourists
Japan aims to attract 60 million visitors annually by 2030 and it is looking to draw a large number of...
- Japan aims to attract 60 million visitors annually by 2030 and it is looking to draw a large number of them from the Middle East
- As many as 28222 tourists visited Japan from the GCC in 2019, marking an increase of 28 percent from last year
Interview
Despite hurdles, interest in 5G high in MENA
As GCC shifts away from dependence on oil and gas revenues, 5G is set to fuel tech growth and ease...
- 5G subscriptions in the MENA have exceeded 1 million at the end of 2020
- The deployment of a 5G network faces several challenges
Business
NMC gross revenue in Q3 up
The number of patient encounters was 6.7m, compared to 3.7m in 2020.
- NMC Group's operating companies would exit administration and hand over the responsibilities to new ownership by the end of this year.
- The company, creditors and advisers are working to finalize the regulatory and approvals to enable the exit.
Business
Dubai Economy, Golden Radiant help DED licensed traders to widen reach
Traders holding Dubai Economy's DED Trader license can digitalize their businesses by using SingleCart App and a complete line-up of...
- Traders can digitalize their businesses by using SingleCart App and a complete line-up of the app's features to reach a larger number of consumers.
- The app is designed to help them handle in-store and online sales seamlessly from their smartphone.
Geostrategy
Lebanon invites Saudis for talks as diplomatic row deepens
Lebanon on Monday called for talks with Saudi Arabia to ease a spiraling diplomatic row sparked by remarks made by...
- "Lebanon invites Saudi Arabia to engage in dialogue to solve all outstanding problems and not just the latest spat, so that the same crisis is not repeated every time"
- On Friday, Saudi Arabia gave Lebanon's ambassador 48 hours to leave the country, recalled its envoy from Beirut
Business
BNET handpicks new CEO
Bahrain Network (BNET) has announced the appointment of Mr. Ahmed Jaber Aldoseri as its Chief Executive Officer, a former member...
- Mr. Ahmed Aldoseri held several notable positions in the past including Acting Director General of Information Security and Radio communications
- Prior to his current position, he provided consultancy services to the Kingdom of Bahrain’s Government on Cybersecurity matters
Business
Transaction law changes will help raise UAE’s competitiveness ranking: CBUAE
Several amendments to the Commercial Transactions Law related to cheques will contribute to raising the UAE's ranking in the Global...
- Several amendments to the Commercial Transactions Law will come into effect in Jan 2022.
- The changes will also consolidate the principles of justice by striking a balance between the interests of the cheque beneficiary or bearer: CBUAE
Business
Saudi firms refinance SAR10bn real estate agreement
Saudi Real Estate Refinance Company of the Public Investment Fund has announced the signing of a refinancing partnership agreement with...
- The agreement aims to increase the liquidity in the home financing market in the Kingdom, reduce the cost of home financing for Saudi families
- The agreement also supports REDF in enhancing its financial stability
Business
Middle East’s first lithium production facility to come up at KIZAD
The first lithium production facility in the Middle East will be established in the Khalifa Industrial Zone Abu Dhabi (KIZAD),...
- The $95 million will be set up by Australia's Lepidico at the eco-friendly, zero-waste facility.
- Lepidico's special process extracts lithium and recovers valuable byproducts from lithium-mica and phosphate minerals.
Business
Emirates set for Boeing talks: CEO
The talks will be held over the delayed 777Xs 'before and during' Dubai Air Show.
- The airline has repeatedly complained about the delivery of the long-haul jet, whose launch has been set back by a series of safety and technical problems.
- Emirates announced an order of 150 777Xs at the 2013 Dubai Air Show and later revised the deal.
Gold hovers near a month high on slowing US inflation
ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while...
Business
Company News
Ryanair posts bumper profits
Business
Latest News
Jordan exhorts ‘companies, institutions’ to switch to renewable energy
Amman, Jordan--Jordan is urging "companies and institutions" to switch to renewable and sustainable energy to reduce operating costs. In this...
Business
Five skills workers require in real estate
Saudi Arabia’s real estate sector is evolving with new regulations, creating fresh job opportunities. The latest initiatives seek to enhance...
Videos
Bahrain Central Bank’s Sukuk Al Salam oversubscribed 319%
Manama, Bahrain - The Central Bank of Bahrain (CBB) has said its monthly issue of the Sukuk Al-Salam Islamic securities...
Business
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Business
KIB posts $19.5m net profit
The bank's total operating income reached approximately $115 million.
- The bank's total operating income reached approximately $115 million, a 14% increase compared to the first six months of 2022
- Its investment securities portfolio, focused on high-quality Sukuk, reached $1 billion, a 4% increase from the same period last year
Business
DP World boosts global supply chain resilience with major capacity expansion
DUBAI -- DP World expects to add approximately 3 million Twenty-Foot Equivalent Units (TEUs) of new container handling capacity by...
- DP World plans to add approximately 3 million TEUs of new container handling capacity by the end of the year
- The firm currently manages about 9% of the world’s handling capacity, ranking among the top five global port operators
Business
APIC H1 net profit down 39%
Total revenues grew by 7.2% YoY to $590 million.
- Net profits attributed to APIC shareholders in the first half of 2023 reached $11.08 million.
- Total assets increased by 8.74 percent compared to 2022's closing and reached $756 million.