Alcoa to buy Alumina in all-stock deal
The US aluminum producer will buy Alumina for US$2.2bn.
Business
WTO launches US$50m fund for women entrepreneurs in developing countries
ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...
Geostrategy
Business
Abu Dhabi, Pakistan discuss boosting business ties
The chamber is ready to offer all the services required to help Pakistani businesses and entrepreneurs in Abu Dhabi.
- Mohamed Helal Al Mheiri, Director-General of Abu Dhabi Chamber of Commerce and Industry, represented the emirate
- Afzaal Mahmood, Pakistan's Ambassador to the UAE, represented his country at the discussion
Business
Dubai ups housing loan limit for UAE citizens to $272,000
The ruler of Dubai, and vice president and prime minister of the United Arab Emirates, Sheikh Mohammed bin Rashid Al...
- The government is also set to allocate thousands of plots of land and housing for Emiratis at a cost of 5.2 billion dirhams
- “Today, we approved raising the value of the housing loan for citizens in Dubai to one million dirhams,” Sheikh Mohammed tweeted
Business
Turkish discovery of gas in Black Sea to raise EU production capacity by 25%
Following the discovery of gas by Turkey in the Black Sea, the European Union's gas production capacity is likely to...
- The natural gas field will provide nearly a third of Turkey’s domestic needs by 2027
- The initial production from the new field will be 3.5 billion cubic meters of gas annually starting from 2023
Business
Dubai Customs clears AED948m worth of goods to be exhibited at EXPO
Days before the EXPO2020 kicks off, Dubai Customs has cleared goods worth AED948 million that will be exhibited at the...
- Exhibitors to obtain permits and licenses can use Dubai Trade Portal
- Countries participating in EXPO 2020 are exempted of registration fees, and exhibitors’ documents will have unique codes for preferential and speedy clearance
Business
Dubai Chamber initiative focuses on West Africa
The initiative, called Why Africa, will also look at the region’s key economic indicators and competitive advantages.
- The initiative, called Why Africa, comprises in-depth analyses conducted by Dubai Chamber
- It is based on recent data from UNCTAD, up-to-date insights for prospective investors, and recent trade trends
Business
Shuaa Capital of UAE to hand over $2.7bn London property projects at year’s end
Shuaa Capital, the United Arab Emirates (UAE) based company, has said that it intends to fully complete and deliver the...
- Shuaa Capital, which has $14 billion in assets under management, said in a statement to the Dubai Financial Market where its stock trades, that Northacre is currently focused on c
- Following its merger with Abu Dhabi Financial Group (ADFG) in 2019, Shuaa Capital has expanded its real estate business
Business
EZDubai starts four projects
It already has 1.3 million sq ft developed and handed over.
- EZDubai was launched in January 2019 by Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum
- The 9,902,700 square-feet purpose-built ecommerce hub is designed to attract ecommerce companies
Business
Kuwait Fund’s $3.6bn development works earns it gratitude of Egyptian PM
Noting the wide contributions of the Kuwait Fund for Arab Economic Development (KFAED) to his country, the Prime Minister of...
- The Kuwait Fund was financing $3.6 billion worth of projects in health, transportation, agriculture, electricity, oil, and water
- Al-Ghanim will attend inauguration of Bahr Al-Baqar water treatment station
Business
42 foreign tech firms have opened office in Kuwait
The Kuwait Direct Investment Promotion Authority has taken steps that have led to several foreign technological firms opening offices in...
- Technology is said to be a kay part of the 2035 New Kuwait vision
- KDIPA is the government’s arm responsible for promotion for foreign companies
Geostrategy
Oman discusses green energy with Belgium
Oman already has a roadmap ready for a green economy, one which it discussed with the UNEP earlier this month.
- The meeting reviewed aspects of joint cooperation between the two countries and means of enhancing them
- The two sides also touched upon means of completing the agreements that boost partnership
Alcoa to buy Alumina in all-stock deal
The US aluminum producer will buy Alumina for US$2.2bn.
Business
Company News
Dana Gas posts fall in profit
Business
Latest News
Union Properties profit is $3.3m
Business
Savola Group net profit up 45%
Business
CEPA signed with UAE is a special achievement: Indian minister
New Delhi, India--The Comprehensive Economic Partnership Agreement (CEPA) signed with the UAE and operationalized last year is a “special achievement...
Economy
‘Barbie’ set to screen in UAE theaters on August 10
Dubai, UAE - The highly anticipated 'Barbie' movie is all set to grace the big screens in the UAE on...
Business
Bahrain pledges to protect consumer rights in e-commerce sector
Manama, Bahrain-- Looking to develop the e-commerce sector in the kingdom, Bahrain's Ministry of Industry and Commerce has published a...
Business
Most Read
Business
ADNOC Distribution profit rises 2%
The Company’s non-fuel retail business rose by over 12%.
- The company's growth in total fuel volumes in the UAE and Saudi Arabia, witnessed a 9% rise in H1 2023 compared to H1 2022
- The Company’s non-fuel retail business rose by more than 12% year-on-year primarily driven by a 14% increase in transactions
Business
Investor confidence fuels UAE’s real estate boom in Q2
Dubai's off-plan sales rose 38% in value, while Abu Dhabi's doubled to $1 billion, as the market saw the addition...
- Dubai's off-plan sales rose 38% in value, while Abu Dhabi's doubled to $1 billion, as the market saw the addition of 7,300 new units in the former and 1,000 in the latter
- Strong demand in Dubai and Abu Dhabi's office space market led to an 18% rent increase in Dubai and 11% in Abu Dhabi, says a report by Dubai Pulse digital platform
Business
Dubai Investments net rises to $157m
Real estate sector remains one of the key business verticals.
- Total income for the Group increased by 31 percent from US$422 million (AED 1.55 billion) in H1 2022 to US$552 million (AED 2.03 billion) during H1 2023.
- Total shareholder equity increased to US$3.5 billon as of June 30 2023, compared to US$3.5 billion (AED12.84 billion) as of year ended December 31 2022.