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
Business
UAE set to rake in millions from cricket
Come November, the Untied Arab Emirates will be hosting the T20 World Cup, with as many as 16 teams expected...
- The sport is expected to bring in millions of dollars in broadcast rights, advertisements, and packed stadiums of Pakistani and Indian fans
- the hospitality industry and the aviation sector in the UAE stands to gain as 14 five-star hotels were fully occupied during IPL 2020 season in the country
Etihad arm to convert Boeings
Etihad Engineering will provide passenger-to-freighter conversions.
- Etihad Engineering will use its expertise and capabilities for the specialized Boeing 777-300ERSF conversion
- It will initially facilitate two conversion lines to accommodate multiple aircraft conversions per year
Qatar Petroleum begins expansion
It has awarded an contract to Madrid-based Técnicas Reunidas.
- The expanded facilities will be utilized to handle liquid products from the four new LNG trains comprising the North Field East project
- The facilities will also reportedly support two new LNG trains comprising the North Field South project
Analysis
The most vulnerable Linux distros
Now, security solutions provider Trend Micro has said that detected millions of “security events” in Linux distributions — both in...
- The most common security event seen in Linux systems was coinminers
- The Linux distro with the most vulnerabilities was CentOS Linux
Business
Women-only business package introduced in Masdar
Masdar City Free Zone offers opportunities for UAE women who constitute 70 percent of UAE university graduates and are also...
- The announcement comes ahead of Emirati Women’s Day on Aug. 28.
- A team of experts are available to assist aspiring women entrepreneurs.
Business
Now airplanes probe earth for mineral wealth
Saudi Arabia has begun to obtain ‘high-resolution’ geological data spread over 600,000 square kilometers in the kingdom, enabling it to...
- He also said that the Kingdom is one of the richest countries in the world in terms of mineral resources with an estimated value of SR5 trillion ($1.3 trillion)
- It will also attract investments in the mining sector to achieve the goals of Saudi Arabia’s Vision 2030
Geostrategy
IsDB and OIC keen to boost cooperation
Both institutions will work toward supporting economic and social development in member countries.
- IsDB is organizing a forum in Tashkent on Sept. 2 on post-Covid 19 situation.
- Both institutions will work toward supporting economic and social development in member countries.
Business
Saudi IT sector eyes boom, likely to touch $27bn by 2025
The Information technology (IT) sector in Saudi Arabia will witness a big boom, with the market expected to touch $27...
- IoT market size is expected to grow at a compound annual rate of 26%
- Cloud services are expected to make up to 30 percent of the total ICT spend in the Kingdom by 2030
Business
Iran to set up real-estate stock exchange in H2
When established, it is expected to be Iran’s fifth major stock exchange.
- It will be under the purview of the Iran Mercantile Exchange or IME
- Such an exchange is expected to provide housing units for the underprivileged
Business
Saudi Arabia lifts ban on entry of foreigners
Saudi Arabia has lifted the ban on the entry of foreigners from 20 countries, six months after the kingdom declared...
- The Ministry of Foreign Affairs’ agency for consular affairs said the decision only applied to expats who were fully vaccinated in Saudi Arabia before they departed for their home
- Expats wanting to return to the Kingdom should undergo all health measures to ensure they were free from infection, the agency added
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
Company News
American Q1 profit at $10m
Business
FAB posts Q1 net profit of $1bn
Business
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TotalEnergies Q1 profit up 12%
Business
Barclays Q1 net profit at $2.2bn
Business
Samsung Q1 profit falls 95%
This is firm's worst quarterly profit since Q1 2009.
DEWA commissions 676 11 kV distribution substations in H1 2023
Dubai, UAE - Dubai Electricity and Water Authority (DEWA) commissioned 676 11kV distribution substations across Dubai in the first half...
Business
Fawry to expand into Saudi Arabia
The money transfer firm plans to set up base across the GCC.
Business
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Business
EasyLease revenue grows by 37.5%
The company logged a net profit of $4.4m.
- The company registered a net profit of $4.4 million, compared to $6 million in the previous corresponding period
- A subsidiary of Abu Dhabi-based International Holdings Company (IHC), Easylease has recently reaffirmed its 2023 guidance
Business
Aston Martin H1 revenue up
Revenue accelerated 25 percent to US$877 million.
- Losses after tax dropped to £142.6 million ($184 million) in the six months to the end of June
- During the same period last year, the firm suffered a net loss of £290 million ($374.75m)
Business
Saudi Arabia at 16 position in Lloyd’s List 2023 rankings
RIYADH, SAUDI ARABIA - The Kingdom of Saudi Arabia was ranked 16 in annual container throughput by the 2023 edition...
- As per the industry report, container volumes across the Kingdom’s ports during 2022 were estimated at 10,439,620 TEUs.
- The Kingdom’s groundbreaking strides in the global logistics landscape boils down to a host of critical catalysts,