SCC committee discusses issues related to Sharjah’s economy and tourism
SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...
Business
Demand for UAE gold jewellery spikes as buyers splurge
Demand for UAE gold jewellery has vaulted 461 percent to 7.3 metric tons in the second quarter as compared to...
Dubai realty sales: Apartment in Marsa sold for $110m
88 plots of land sold for AED 620.22 million, and 1,135 apartments and villas were sold for AED 2.27 billion.
- 88 plots of land sold for AED 620.22 million, and 1,135 apartments and villas were sold for AED 2.27 billion
- The highest number of sales worth AED 66.09 million were recorded in Nad Al Shiba
Foreign investors help DFM post $10.56m net profit in H1
The net profit of the Dubai Financial Market hit AED 15.3 million in the second quarter of 2021 compared to...
Kuwait records realty deals worth $1.3 billion in June
Al Ahmadi Governorate accounted for 67.7 percent of the 1,271 deals, followed by Hawalli and Jahra governorates.
- Al Ahmadi Governorate accounted for 67.7 percent of the 1,271 deals followed by Hawalli.
- The value of real estate transactions in June 2020 was only KD77 million.
Etisalat reports $1.2 billion net profit in H1 2021
Following the impressive performance, the UAE's leading telecommunications company said it will distribute interim dividends of 40 fils per share...
China builds 1.8 km long railway tunnel in the UAE
China has finished building the longest railway tunnel anywhere in the Middle East in the United Arab Emirates. The 1.8...
Egypt’s export of iron, steel spikes 179 percent to $584m
During the first five months of this year, the Egyptian export of iron, steel has surged 179 percent to $584,...
Fully-vaccinated Saudi citizens can fly abroad from Aug 9
Also eligible for travel are citizens who recovered from virus six months ago and those who were infected six months...
- Also eligible for travel are citizens who recovered from virus six months ago and those who were infected six months earlier and vaccinated with single dose
- Passengers below age of 12 need to present an insurance document approved by the Saudi Central Bank
Dubai-based Swvl to go public through $1.5bn SPAC deal
The company has signed a merger deal with Queen’s Gambit Growth Capital, the first special purpose acquisition company (SPAC) led...
On-campus workers must be vaccinated, say Google, Facebook
Spikes in infections due to a Delta variant of the virus have ramped up concerns in the United States, where...
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Nokia Q1 earnings down
Business
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...
Economy
Electric vehicles, lithium-ion, solar batteries become new drivers of China’s foreign trade
Beijing, China - China's traditional export sectors, such as apparel, home appliances, and furniture, have been surpassed by electric vehicles,...
Economy
Saudi Arabia to host MENA Climate Week in October to ‘assess progress’
Riyadh, Saudi Arabia--Saudi Arabia will host the MENA Climate Week 2023 in Riyadh on October 8-12, in coordination with the...
Economy
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Business
IHG to open Hotel Indigo in Oxagon
Oxagon is a coastal industrial city in Saudi Arabia's NEOM.
- The 250-key Hotel Indigo property will be situated in the Oxagon’s first residential community and will open its doors in 2026.
- IHG currently operates 37 hotels across five brands in Saudi Arabia, including InterContinental, Crowne Plaza and Holiday Inn.
Market Report
Asian markets swing as US jobs data disappoint
Asian equities wobbled at the end of a draining week as fresh US jobs data put revived bets on two...
- Data recently pointed to a weakening in the US economy that would help ease inflation, the Fed has said it needed to see more softening in the jobs sector.
- This week's stumble follows a rally last week when a faster-than-expected slowdown in US inflation stoked hopes the Fed could end its rate hikes. .
Business
FAB second quarter net profit $1.14bn
The rise attributed to increase in net interest and non-interest income.
- For the first six months of 2023, the net profit was $2.19 billion, up 7 percent from $2.08 billion.
- The company said the operating income was $1.82 billion, up 37 percent from 2022.