Over 6,000 F&B companies join Dubai Chamber of Commerce in 2023
DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and...
Business
EGA sees $473m profit in H1
This was the company’s strongest H1 financial performance ever.
- EGA supplied some 442 customers in 57 countries with metal in the first half of 2021
- In the UAE, the company supplied 140,000 tons of metal to local customers
Business
Jeddah asks traders to stick up QR code on shop fronts
Aiming to improve the quality of services and goods provided to Jeddah resident, the Municipality has called on businesses to...
- “The mandatory service is part of the modern services launched by the Ministry of Municipal, Rural Affairs and Housing through the ‘Balady’ platform”
- the QR code aims to improve the quality of services and goods provided to Jeddah residents by promoting effective digital communication
Business
Kuwait to transform ‘tire graveyard’ into new city
After 17 years of accumulation of end-of-life tires, the dump was spread across 2 sq km, with 40 million tires...
- Three massive fires between 2012 and 2020 sparked environmental concerns, prompting the authorities to shut it down for good
- In past months, trucks loaded with tires had made more than 44,000 trips from the landfill to the Al-Salmi region, near Kuwait's industrial area, where they would be temporarily st
Tabreed ups cooling-scheme stake
The exclusive scheme supplies Al Maryah Island in Abu Dhabi.
- The acquisition is from joint venture partner Mubadala Infrastructure Partners
- The deal brings ownership of Tabreed in the scheme to 100 percent
Business
Arkan launches digital platform
Medical, lab supplies and equipment can be purchase online.
- The platform provides a user interface for B2B procurement management.
- Arkan said the launch in sync with Saudi Arabia Vision 2030.
Analysis
UAE investing hub despite high starting cost
Starting a business in the Emirates makes a $7,444 hole in the pocket, but world-class infrastructure, excellent connectivity, business-friendly policies and...
- Having been pegged to the US Dollar since 1973, the AED is favorable to all business firms within the country due to its steadiness.
- Saudi businesses in the past had to clear 13 procedures and required to have 1,057 percent of income per capita in the bank before starting a business.
Business
Demand for lithium boosts Tianqi’s net profit
In a boost to China's Tianqi Lithium Corp, one of the world's top lithium producers, it posted its first net...
- China's Tianqi Lithium Corp posted its first net profit in two years on Sunday
- net income was 85.8 million yuan ($13.3 million) for the first half of 2021
Business
Al Seer Marine of IHC lists on ADX
The subsidiary of the International Holding Company has been listed under the ticker ASM.
- Al Seer Marine, which builds and operates vessels and manages yachts, has total assets of 3.98 billion dirhams ($1 billion)
- Al Seer Marine is the sixth IHC Group company to list on the ADX, following the successful listings of Palm Sports, Easylease, Zee Stores, Emirates Stallion Group
Business
Saudi Arabia and Oman pledge to boost trade ties
Saudi Arabia and Oman have pledged to boost trade and economic ties between the two countries, months after the two...
- Saudi Arabia's Investment Minister Khalid al-Falih was visiting Oman on Sunday to discuss opportunities in both Gulf countries
- Saudi Arabia is in the midst of an ambitious economic development plan to wean the economy off oil, while Oman last year introduced measures to boost its finances
Business
EMotorad starts global journey with e-bike launch in UAE
The brand sees UAE as a major platform to showcase its futuristic products globally
- The brand sees UAE as a major platform to showcase its futuristic products globally
- EZYTRONIX and EM have joined hands to launch the flagship brand and establish EM products
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NMDC achieves 366% growth
Business
Ford raises 2023 profit outlook
Profits in the second quarter were $1.9 bn.
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Business
UAE leads the charge in GCC’s electric vehicle market
Despite making up just over 1% of the UAE car market, EV popularity is growing, with plans to boost the...
- Despite making up just over 1% of the UAE car market, EV popularity is growing, with plans to boost the electric charging network by 170% by 2025, says a latest report
- Ranked eighth globally for electric mobility readiness, the UAE's EV market is set to grow 30% annually from 2022-2028, with over 30% of residents considering EV purchases
Business
European Commission orders probe into Microsoft over Teams
Brussels, Belgium - The European Commission on Thursday announced an antitrust probe into Microsoft bundling its Teams communication app with its...
- The investigation will check whether the US software giant is bundling its Teams communication app with its popular Office suite, on concerns it could be cutting out competitors.
- Teams is a platform that allows users to communicate through messages, video calls and file sharing.
Business
Saudi club Al-Ettifaq signs English footballer Jordan Henderson
Liverpool, United Kingdom - Liverpool captain Jordan Henderson completed his move to Saudi Pro League side Al-Ettifaq on Thursday, becoming the...
- The 33-year-old, who played 492 matches for Liverpool, scoring 33 goals, has finalized a deal with reported wages of up to £700,000-a-week.
- Liverpool are due to receive an initial £12 million ($15.5 million) from the Saudi club. The England international will be reunited in Saudi with Gerrard, who is Al-Ettifaq coach.