Real estate transactions worth over US$74m take place in Qatar in week
DOHA, QATAR - The volume of real estate trading in the country in sales contracts at the Department of Real...
Business
Business
US approves $500mn helicopter maintenance deal for Saudis
Under the deal, US will provide 350 contractor technicians and two government officials over two years to handle the maintenance...
- Before his election Biden had promised to make Saudi leaders "pay" for the murder of US-based journalist Jamal Khashoggi.
- In late January Biden ordered a review of all arms contracts concluded by his predecessor Donald Trump with Saudi Arabia and other countries.
Business
Etihad, Sabre renew partnership
Under the new pact, Etihad will leverage Sabre's IT solutions.
- Under the new agreement, Etihad will continue leveraging a suite of Sabre's IT solutions to aid recovery
- Sabre will help Etihad in network planning and scheduling, pricing and revenue management and cargo technology
Business
IPL to resume in UAE on Sunday after tournament suspension due to Covid
The tournament was halted in May because of a devastating surge in coronavirus deaths in India, prompting foreign players to...
- The eight-team tournament resumes with Delhi Capitals at the top of the table
- The final will be in Dubai on October 15, just two days before the T20 World Cup begins
Business
UAE to establish business council with Estonia
The council will aim to enhance bilateral economic and trade relations between the two countries.
- The MoU was signed by Abdullah Mohammed Al Mazrouei, Chairman of the Federation of UAE Chambers of Commerce and Industry
- Peeter Raudsepp, CEO of Enterprise Estonia, signed the agreement on behalf of his country
Arts & Culture
Unesco recognizes Saudi marine sanctuary
The UN body has registered the Farasan Island Marine Sanctuary in its Man and Biosphere Program.
- The Farasan Islands are said to support the largest population of idmi gazelle in Saudi Arabia
- They also have high concentrations of greater flamingo, pink-backed pelican, Eurasian spoonbill, and osprey
Geostrategy
UAE to invest billions of pounds in UK
The UAE has vowed to invest £10 billion ($13.8bn) in the UK over five years as Abu Dhabi Crown Prince...
- The focus of investment will be on the UK's technology, infrastructure and energy transition sectors
- Mubadala's investment plans is likely to 'drive a significant increase' across the three target sectors
Business
Dubai-France trade reaches AED8.5 billion in the first half of 2021
DUBAI: The emirate of Dubai sees tourism and exhibition activity returning to normal, with EXPO 2020 around the corner, according...
- The emirate sees tourism and exhibition activity returning to normal, with EXPO 2020 around the corner, according to DP World chairman.
- Top commodities included jewelry, perfumes, medical products, textiles and leather.
Business
ADQ to acquire pharma firm
ADQ will acquire Swiss firm Acino from its current shareholders.
- Switzerland-based Acino is known as a provider of pharmaceuticals
- Its markets include the Middle East, Africa, Latin America, Russia, Ukraine, and the CIS Region
Business
Solutions by STC prices IPO at top range
The IPO order book 130 times oversubscribed during the book-building process.
- The company is set to raise $960m, pricing IPO at 151 riyals per share.
- The individual investors tranche subscription process will commence on Sunday and ends on Tuesday.
Economy
Global economy to grow by 5.3 percent in 2021: UN
But if widening economic gaps between the developed world and the poor countries persists, only a few will enjoy the...
- Many developing economies are being held back by constraints on fiscal measures, lack of monetary autonomy and limited access to vaccines.
- By 2025, developing countries will be $12 trillion poorer owing to the pandemic, the report said.
Company News
Bank of Sharjah to boost capital
Business
Latest News
Alpha Dhabi logs $2bn profit
Business
TECOM Group profit soars 13%
Its net profit vaulted to US$132 million in the first half of 2023.
Business
Arabian Drilling H1 profit up 36%
The company has approved a cash dividend of SAR225 million.
Business
Dubai leads as GCC real estate transactions soar in H1
Gulf real estate hit $90.7 billion in the first half of 2023, a 9.9% rise y-o-y, as Dubai led the...
Business
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Business
Meta to seek user permission for targeted advertisement
European regulators in January had dismissed the previous legal basis -- "legitimate interest" -- Meta had used to justify gathering...
- It said the changes were to address "evolving and emerging regulatory requirements" amid a bruising tussle with the Irish Data Protection Commission.
- Currently, users joining Facebook and Instagram by default have that permission turned on, feeding their data to Meta so it can generate billions of dollars.
Business
e& H1 net profit $1.27bn
The company's second quarter net profit increased 4% year on year.
- In a statement, the company said its consolidated EBITDA reached AED 12.8 billion, resulting in an EBITDA margin of 48 percent.
- In the UAE, etisalat by e& recorded 13.9 million subscribers, an increase of 5.1 percent compared to the same period of last year.
Geostrategy
Saudi Arabia funds construction of library in Bosnia and Herzegovina
SARAJEVO, BOSNIA AND HERZEGOVINA - Saudi Fund for Development (SFD) Board of Directors Chairman Ahmed Al-Khateeb, laid the foundation stone...
- The funding for construction and equipping of the library has been through a US$22 million grant provided by the Saudi Fund for Development.
- The new library will act as a central hub to connect the university’s 28 sub-libraries and will contribute towards enhancing its educational capabilities.