Binaa Al Bahrain aims to create expansive mixed-use projects
ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al...
Business
Ratcliffe unveils electric Ineos car
Jim Ratcliffe is the co-owner of the Manchester United.
Business
GCC: Public-private partnership to boost healthcare
From 2018 to 2022, the private-sector healthcare spending is forecast to increase at a cumulative annual growth rate (CAGR) of...
- From 2018 to 2022, the private-sector healthcare spending is forecast to increase at a cumulative annual growth rate (CAGR) of 9.5 percent
- A report on GCC Healthcare Industry said that the healthcare expenditure was projected to reach US$104.6bn in 2022 from an estimated US$76.1bn in 2017
Business
Union Properties exits Dubai shopping deal
The deal with an unnamed developer was valued at $114m.
- The company chairman calls the deal a part of the firm's plans for diversifying the real-estate portfolio.
- Union Properties posted a profit of AED 32 million for H1.
Business
Dubai real-estate transactions for August cross $4bn
These are the latest numbers from the 18th edition of Mo’asher, which is Dubai’s official sales price index.
- The number of transactions in August 2021 was 5,780
- They are said to be worth AED14.97 billion (around $4.08 billion)
Business
Abu Dhabi to use drones for delivery of vaccines and drugs
DUBAI: Abu Dhabi's department of health (DoH) will be using drones for the transport of high-value medical goods such as...
- US-based Matternet partners with logistics company Skygo and Department of Health for 'world's first city-wide medical drone network.
- SkyGo and Matternet have completed the first phase of in-country flight testing.
Business
23 solar panel plants to come up across Saudi Arabia
DUBAI: As many as 23 factories that will manufacture solar panels and systems will be set up across Saudi Arabia,...
- The factories will be established in 12 industrial cities, according to Modon.
- Products to be manufactured include Solar cells, slim panels for generating solar energy, solar energy panels.
Business
Adnoc Drilling IPO increased
Adnoc Drilling will list on the ADX on or around October 3.
- The increase is expected to be from 1.2 billion ordinary shares to 1.76 billion ordinary shares
- However, the offer price of AED 2.30 per share remains unchanged
Business
Saudi Arabia workshop woos German investors
The workshop discussed the most prominent ways to expand the current investments in line with Saudi Vision 2030.
- Saudi Arabia is opening up its economy while diversifying it to lessen its dependence on oil
- It is believed to have investment opportunities worth SAR12 trillion (€2.7 trillion or $3.2 trillion)
Business
Tradition in Tehran’s oldest teahouse
Tucked in an alleyway of the Grand Bazaar, Kazem Mabhutian’s 1.5-square-metre chaikhaneh (tea house) is invisible from the main street.
- Tucked in an alleyway of the Grand Bazaar, Kazem Mabhutian’s 1.5-square-metre chaikhaneh (tea house) is invisible from the main street.
- And yet it is the most famous among tea connoisseurs in the Iranian capital
Business
Iraqi cement-makers angry at fuel subsidy cut
The oil ministry earlier this month raised the price of fuel sold to cement manufacturers from 150 dinars per litre...
- The measure has caused industry outrage in the crisis-hit country, where some regions are still waiting for post-war reconstruction
- The subsidised fuel price for cement manufacturers was originally approved in exchange for their commitment to cap the price of cement
Interview
Gulf region poised for higher growth in 2021: Expert
The economies of the region are recovering fast on the back of the rising oil prices and speedy vaccination programs,...
- The economies of the region are recovering fast on the back of the rising oil prices and a reasonably speedy vaccination program
- In 2022, tourism should also significantly boost growth, resulting in recovery in the non-oil sector as domestic consumption and investment demand improves
Binaa Al Bahrain aims to create expansive mixed-use projects
ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al...
Business
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Aramco Q1 earnings take a hit
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Adidas posts $92m Q2 profit
Adidas now expects to end the year with an operating loss of $492m.
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AI anxiety: workers fret over uncertain future
Legal assistants, programmers, accountants and financial advisors are among those professions feeling threatened by generative AI.
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Business
Saudi Arabia extends voluntary 1mbpd oil cut to September
Riyadh, Saudi Arabia -- Saudi Arabia will extend the voluntary 1 million barrels per day cut, announced in July, to...
- Saudi Press Agency, quoting an official source from the Kingdom's Ministry of Energy, said the country's production for September 2023 will be approximately 9mpbd.
- This cut is in addition to the voluntary cut previously announced by the Kingdom in April 2023, which extends until the end of December 2024.
Business
EIH buys stake in Gewan Holding
Acquisition aims to diversify and expand into several sectors.
- EIH has cultivated a diversified, innovative, and sustainable investment portfolio comprising over 30 companies across various sectors.
- Gewan is a diversified holding company operating in various sectors, including real estate, general trading, hospitality, travel and tourism.
Business
DUBAL, Oriental Copper ink MoU
JV will manufacture high-quality copper products in UAE.
- As per the agreement, DUBAL Holding will assist with local resources and be a co-investor.
- Oriental Copper will contribute its extensive technical, operational, and market expertise.