e& 2023 net profit is US$2.8bn
e& said the net profit is a growth of 3 percent year-over-year.
Business
Business
Fintech creams off most in $2.1bn funding
The fintech sector has attracted nearly 30 percent of all the funding raised during the year, with one in four...
- Fintech stood out above other sectors on funding volume and value
- RedSeer said financial free zones such as the Abu Dhabi Global Market and the Dubai International Financial Center have contributed to this growth
Business
Emirates to provide extra baggage for Lebanon-bound customers
Customers can avail the additional baggage allowance for travel booked on emirates.com, Emirates sales offices, via travel agents as well...
- Customers can avail the additional baggage allowance for travel booked on emirates.com, Emirates sales offices, via travel agents as well as online travel agents
- The baggage allowance applies to both inbound and outbound travel from Beirut
Business
All fully vaccinated tourists can travel to UAE
Tourists will have to do a mandatory RTPCR test on arrival, according to the National Emergency Crisis and Disasters Management...
- Tourists from the countries from which entry was previously banned also eligible for visas.
- Facilities available to vaccinated UAE residents can be availed by tourists also.
Business
AmCham Bahrain elects new board
Qays Zu’bi has been re-elected the president for two-year term.
- The new board is AmCham’s most diverse and representative since its formation in 2005.
- 40 percent of the Board’s seats are held by women.
Business
TROX re-joins Eurovent Middle East
The company has been active in Middle East for the past 50 years.
- The company said rejoining the association meant it was renewing commitment to joint industry initiatives.
- Calls the industry to reinforce its focus on technical regulations and standards.
Analysis
Covid-19 fails to impact realty in UAE, Saudi Arabia
While the UAE has seen a record amount of real estate sales in the first six months of 2021, Saudi...
- Demand for villas increased in the UAE because of the pandemic outbreak and also due to low-interest rates.
- The real estate sector contributed 14.2 percent of the Saudi GDP ranking third as the most contributing economic activity.
Business
Philippines-UAE trade rose 32% in first 5 months of 2021
Total trade between the Philippines and UAE already crossed Dh1.3 billion from January to May 2021
- Total trade between the Philippines and UAE already crossed Dh1.3 billion from January to May 2021
- With more than 190 countries converging in the Expo, the Philippines aims to showcase the very best of its culture, heritage, and technology
Business
Sharjah’s Sewa delivers gas to Kalba, Khorfakkan
Sharjah Electricity, Water and Gas Authority (Sewa) has completed the delivery of natural gas to 112 housing projects in the...
- Sharjah Electricity, Water and Gas Authority has been implemented by Sewa's Natural Gas Office in the Eastern Region
- Along with this gas project the Sewa unit has also completed the first phase of 22-m-long Al Haray area in the city of Khorfakkan
Business
Dates conference attracts top global experts
Top global experts attended the second edition of the International Dates Conference held in Qassim as part of the annual...
- The two-day conference held several sessions with the participation of 45 speakers — experts and specialists in fields
- It also discussed the international experiences in highlighting the role of the cooperative societies sector in marketing agricultural products
Business
Bahrain Bourse forms Disciplinary Appeals Board
Members of the board will be appointed following a resolution from BHB’s board, and approved by the Central Bank of...
- The board shall be responsible for investigating appeals against disciplinary resolutions issued by related parties
- This will be in compliance with Bahrain Bourse’s Business Rules and the CBB Volume 6 DRA module
Company News
NMDC achieves 366% growth
Business
Latest News
KEZAD, Al Ghurair Foods ink pact
Business
Iran carmaker Saipa supplies 2nd batch of cars to Venezuela
Tehran, Iran – Iran's second-largest carmaker, Saipa, has successfully delivered another batch of cars to Venezuela as part of an...
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...
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...
Business
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Business
Water loss, river pollution threaten Syrian fishermen’s livelihood
The battered country, where half a million died in the conflict, has also suffered the impacts of climate change, from...
- Syria has endured more than a decade of civil war, and the nearby town of Raqa was the center of the Islamic State group's brutal "caliphate" until their ouster in 2017.
- Raqa province received only 208 mm per month of rainfall last year, according to the UN Food and Agriculture Organization.
Business
Major energy firms post sliding profits as oil and gas prices dip
Gas prices had soared last year after Russia cut gas shipments to Europe while oil markets were also rocked by...
- Shell on Thursday said its profit after tax came in at $3.13 billion in the second quarter (Q2), down 80 percent compared with Q2 last year.
- French group TotalEnergies said its net profit dropped 28 percent to $4.1 billion in the second quarter from a year earlier.
Business
ADIB posts 61% net profit growth in H1
The bank's revenue grew by 50 percent to AED 4.3 billion.
- The bank's cost to income ratio was managed down with an improvement of seven percentage points to 33.9 percent.
- Total assets increased 28 percent to AED 182 billion, driven by 18 percent growth in gross financing and 22 percent growth in investments.