KEZAD Group, Al Ghurair Group’s APT ink lease pact to set up manufacturing facility
ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Group subsidiary Automotive Precision Technology (APT)...
Business
Hotel occupancy shows signs of recovery in MENA: Colliers
The hospitality industry has been the worst hit by the Covid pandemic, but there are signs that suggest a recovery...
HSBC MENA’s pre-tax profit at $700m in H1
Economic recovery in the region helps the bank post $386 million profit in the June quarter.
Aldar Properties beachfront land plots sell out in Al Gurm
The company did not disclose the value of the sale of 71 plots sold exclusively to UAE residents.
Saudi Pension Agency posts 9.5 percent returns in 2020
The kingdom’s Public Pension Agency said on Sunday that it had recorded 9.5 percent returns on investments in 2020. Its investments...
Digital payment platform Square to buy Afterpay for $29 billion
Afterpay specializes in the "buy now, pay later" model that offers users staggered payments, often without extra charge.
Kuwait aims to be the hub for electric carmakers in Middle East
Kuwait Ports Authority (KPA) has approved a proposal to build the Middle East’s first city to serve electric vehicle manufacturers,...
RAK Properties net profit rises 348% to AED120m in H1
Revenues of the UAE-based real estate firm, which is listed on the Abu Dhabi Stock Exchange, grew by 121 percent...
Engie roped in for energy-efficiency project at Riyadh airport
The project is aimed at reducing energy demand and costs at the airport and ensuring reliable supply through clean and...
US gears up to sell 18 military choppers to Israel for $3.4 billion
All 18 choppers are Sikorsky CH-53K King Stallion heavy-lift helicopters, and will come fitted with weaponry provided by Lockheed Martin.
Licenses issued by Ajman rise 117 percent in H1 2021
Bulk of licenses issued to building maintenance activities, restaurants import and export, retail of canned and preserved foodstuffs.
Company News
Reliance posts Q1 profit rise
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Dubai seeks to unleash high-powered growth for its family business sector
DUBAI, UAE - In Dubai’s economic growth story, family businesses stand tall as architects of growth, innovation and value creation....
Business
Twitter challenger Threads struggles for traction
Twitter continues to dominate its space as a platform for online comment and news, and Musk "would have to completely...
Saudi Fund for Development commits $10m to boost tourism in Bahamas
Riyadh, Saudi Arabia -- The Saudi Fund for Development (SFD) and Bahamas have signed a $10 million agreement to build...
Business
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Business
Arab-Indian Chamber of Commerce to be unveiled soon
NEW DELHI, INDIA - A Joint Arab-Indian Chamber of Commerce is to be “activated” soon. This was announced in the...
- This was announced in the “Delhi Declaration” at the conclusion of the sixth India-Arab Partnership Conference in New Delhi
- Setting up of the Chamber was decided during an earlier session of the India-Arab Partnership Conference held in Muscat
Business
ECB wants reports on weekly basis to tighten monitoring of banks’ liquidity
BERLIN, GERMANY - The European Central Bank (ECB) announced on Saturday it wants to monitor the liquidity of banks in the...
- The data include details such as the maturity of liquidity in the bank's accounts, their counterparties and refinancing transactions with the ECB.
- The shift comes just after the bankruptcy of regional banks in the United States in March, followed by the collapse of Credit Suisse.
Economy
Morocco’s women football team to make history in World Cup debut
When Morocco's women take on two-times former champions Germany in Melbourne they will be the first Arab team to play...
- Its women team had a surprise run to the final of last year's Africa Cup of Nations, before losing 2-1 to South Africa
- It is in Group H at the Women's World Cup and as well as Germany will face South Korea and Colombia