EDB’s contribution to UAE’s industrial GDP in 2023 rises to US$1.1bn
ABU DHABI, UAE – Emirates Development Bank (EDB) has unveiled its 2023 results, showcasing an extraordinary year of achievements and...
Business
Business
Al-Rajhi Capital predicts Saudi oil revenues to touch $145.3bn at the end of 2021
Al-Rajhi Capital believes that Saudi oil revenues will touch $145.3 billion at the end of 2021, while total state revenues...
- The bank's estimate for non-oil revenue is at $101bln
- The assessment was made on the Saudi budget forecast released on Thursday
Geostrategy
Jordan, Lebanon discuss cooperation
Jordanian Prime Minister Bishr Khasawneh met his Lebanese counterpart Najib Mikati to discuss cooperation and help Lebanon.
- Jordanian Prime Minister Bishr Khasawneh underlined his country’s support for Lebanon to overcome ongoing challenges
- He also pointed to the relations that bind the two countries and peoples, highlighting Jordan's commitment to enhancing joint cooperation
Business
Saudi Arabia to strengthen trade ties with Austria
The Saudi delegation of the trade system was headed by Minister of Commerce Majid Al-Qasabi.
- During the meeting, the countries discussed opportunities to enhance and develop commercial relations
- They also talked of ways to upgrade the level of trade exchange and cooperation between the two countries
Expo 2020 DUBAI
Dubai Expo 2020 to attract 25 million business, tourist visits
The full expo site has opened its doors to exhibitors from almost 200 countries.
- The full expo site has opened its doors to exhibitors from almost 200 countries
- The event was chosen eight years ago to follow the 2015 Expo in Milan, Italy, and cost around $6.8 billion
Business
ADNOC Distribution will pay $350 million H1 interim dividend to shareholders
DUBAI: ADNOC Distribution has announced AED1.285 billion ($350 million) as an interim dividend payment to shareholders for the first six...
- This is the first payment in what is expected to be a full-year 2021 dividend payment of AED 2.57 billion.
- The company has set a minimum of AED2.57 billion dividend for 2022.
Business
Oman looks to tap Brunei for cooperation
Oman’s Foreign Minister Sayyid Badr Hamad Al Busaidi and Brunei Darussalam’s Second Foreign Minister Dato Seri Setia Haji Erywan bin...
- During the meeting, the ministers stressed on their keenness in promoting cooperation in various fields, especially in areas of joint investments
- They also exchanged views on regional and international matters of common interest
Business
Facebook grilled over mental health fears
Facebook study warned of the harm Instagram can do to girls' well-being
- Facebook study warned of the harm Instagram can do to girls' well-being
- A Facebook whistleblower is set to testify before senators on Tuesday
Economy
Seamless Middle East 2021 held in Dubai
The event, sponsored by the Arab League and organised by Terrapinn, was held at the Dubai World Trade Centre.
- The event, sponsored by the Arab League and organised by Terrapinn, was held at the Dubai World Trade Centre
- Participants in the event included a number of international institutions and organisations, such as Harvard University, the UN and the World Bank
Expo 2020 DUBAI
US Pavilion to inspire ‘spirit of freedom’: Commissioner General
Robert Clark praised the UAE for transforming “the sands of the desert into a thriving World’s Fair site, complete with...
- Robert Clark praised the UAE for transforming “the sands of the desert into a thriving World’s Fair site, complete with spaces for 192 nations to connect
- Clark added that the USA Pavilion will welcome millions in-person and online
Expo 2020 DUBAI
Kuwait Expo 2020 pavilion will be ‘biggest’ in terms of size and activities, says director
DUBAI: Kuwait's participation at Expo 2020 Dubai is "biggest" in terms of pavilion size and range of activities, the pavilion's...
- The Kuwaiti pavilion, which has been designed to resemble water tower structures commonly found in the country, is constructed on an area of over 5,500 square meters.
- A total 200 government and private bodies representing diverse sectors are set to contribute to the booth over the coming six months.
EDB’s contribution to UAE’s industrial GDP in 2023 rises to US$1.1bn
ABU DHABI, UAE – Emirates Development Bank (EDB) has unveiled its 2023 results, showcasing an extraordinary year of achievements and...
Business
Company News
Tabreed Q1 net profit $64.37m
Business
Latest News
Toshiba profit down 35%
Business
Emaar Properties logs 43% growth
Business
Toshiba readies deal to go private
The 14bn deal comes after years of turmoil for the company.
Business
Qatar non-energy private sector firms record strong growth in July
Doha, Qatar -- Non-energy private sector companies recorded the second highest growth in 2023 so far, according to the latest...
Business
Most Read
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...
- According to the National Center for Statistics and Information (NCSI), industrial projects accounted for 58.7 percent of the natural gas use at 15.39 billion cubic meters
- Data showed that the total use of natural gas for oil fields amounted to 6.76 billion cubic meters, power plants at 3.89 and industrial areas at 131.50 million cubic meters
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...
- The kingdom's visitor e-visa is valid for an entire year, grants multiple entries, and permits a stay of up to 90 days
- The oil-rich country has seen rapid growth in tourism due to its visa initiatives, which now include 57 nations
Business
UAE tops MENA startup funding, followed by KSA, Egypt
MENA startups secured US$95 million in July 2023 across 31 deals; equity investments hit US$55 million, boosted by One Moto's...
- MENA startups secured US$95 million in July 2023 across 31 deals; equity investments hit US$55 million, boosted by One Moto's US$ 40 million round
- UAE startups garnered US$14 million without One Moto's contribution, while Saudi' Arabia's Foodtech Kaso clinched US$10.5 million in its Seed round