Trump’s granddaughter launches clothing brand from White House
Washington, United States - US President Donald Trump's granddaughter has unveiled a clothing brand bearing her name, with promotional photos...
Business
The next chapter in branded residences: A deep dive with top experts
Experts predict continued growth, with developers increasingly seeking partnerships for brand prestige, service excellence, and higher premiums.
Business
Business
Saudi Arabia’s NDMC issues local sukuk worth US$9.57 billion
Riyadh, Saudi Arabia--The Saudi National Debt Management Center (NDMC) has issued new sukuk worth $9.57 billion under the Local Saudi...
- NDMC said in a statement that such a step is part of its initiative to activate its role in managing its public debt commitments
- The sukuk issuance will be done in four tranches of $2 billion, $3.86 billion, $2.88 billion and $853 million, said NDMC
Business
Ithmaar Bank H1 profit up
Its net profit rose to US$4.14m as against US$3.96m last year.
- Its total assets were $5.85 billion at the end of June 2023, 4.6 percent lower than $6.14 billion as on 31 December 2022
- The bank said total owners' equity rose to $100.21m at the end of June 2023, a 4.3 percent increase from $96.06m as on December 31, 2022
Economy
UAE commends UN for successful oil transfer from decaying Yemen tanker
Abu Dhabi, UAE--The UAE has applauded the UN for the successful unloading of oil from the deteriorating tanker, FSO Safer,...
- The UAE's Ministry of Foreign Affairs praised the efforts of the UN, its secretary general and the donor nations for preventing the disaster
- It cost some $143 million to transfer the oil from the stricken tanker to a new vessel, much lower than $20 billion in cleanup cost in the event of a spill
Business
Use of technology, innovation crucial in daily life
"Multi-carrier aggregation is a proven method to enhance both the peak and average throughputs of wireless networks. This deployment underscores...
- du introduces multi-carrier aggregation, promising three times faster data speeds
- Home wireless services, introduced by du in 2021, set to benefit from this innovation
Business
UAE ranks first globally in employing Indians, Saudi second: Minister
New Delhi, India -- The UAE ranks first among the countries in the world in the employment of Indians, currently...
- Taken together, five Gulf countries -- UAE, Saudi Arabia, Kuwait, Qatar and Oman, in that order -- are among the top destinations providing employment for Indians.
- The number of Indians in the UAE last year was 3.419 million and more than 134,000 were added in one year, India's Minister of External Affairs told parliament.
Business
Ma’aden Q2 revenues hit $1.86bn
Record phosphate output boosts the company's performance.
- The firm's net profit records US$93.5 million, reflecting the downturn in commodity prices
- Debt reduction witnessed with long-term borrowings and net debt decreasing by 11% and 9%
Business
DEWA picks bidder for 1,800MW phase of Al Maktoum Solar Park
Dubai, UAE -- In a step towards its clean energy ambitions, the Dubai Electricity and Water Authority (DEWA), has announced...
- Designed to be the world's largest single-site solar park, it is projected to boast a remarkable capacity of 5,000MW by 2030, with an investment infusion totaling AED 50 billion.
- The upcoming 1,800MW 6th phase is anticipated to catapult the cumulative production capacity to 4,660MW as additional 433 MW capacity is currently under construction.
Business
QCB to grant licenses to website providers for comparing prices of insurance policies
Doha, Qatar--Qatar Central Bank (QCB) has exhorted companies willing to work in providing website services to compare prices of insurance...
- With this announcement, the central bank seeks to regularize and upgrade the financial sector in the country
- The bank said in a statement that the instructions are intended to streamline operations of service providers
Business
Cristiano Ronaldo’s goal propels Al-Nassr to win King Salman Club Cup
Taif, Saudi Arabia-- Cristiano Ronaldo led his team to victory as Al-Nassr FC won the 2023 King Salman Club Cup...
- Inspired by Ronaldo, Al Nassr beat its rival Al-Hilal after extra time despite playing for more than an hour with just 10 men
- The final match which went into extra time after the game was tied at 1-1 was held at the King Fahd Sports City Stadium in Taif
Infographics
Saudi home to three of top five Arab smart cities
Saudi Arabia, which has pioneered the development of smart cities in the region, plans to establish more than 200 smart...
- The Middle East and North Africa's smart city spending is expected to reach $2.7 billion by 2022, driven primarily by the region's progressive, innovative city projects.
- NEOM, Egypt's New Administrative Capital, Abu Dhabi's Masdar City, and Dubai Digital Park are examples of this trend.
Trump’s granddaughter launches clothing brand from White House
Washington, United States - US President Donald Trump's granddaughter has unveiled a clothing brand bearing her name, with promotional photos...
Business
Company News
QatarEnergy, Mitsui ink pact
Business
Latest News
ADNEC to organize first Bitcoin MENA Conference in Abu Dhabi
Abu Dhabi, UAE--ADNEC Group has announced the launch of the region's first Bitcoin MENA Conference 2024 set to take place...
Business
Ramadan influences consumer habits, retail strategy
The ongoing fasting month brings traditional practices and modern shopping habits together, impacting market trends significantly in the Gulf region.
Business
Inditex posts record net profit
Inditex, the world's biggest fashion retailer, is owned by Zara.
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Business
Volkswagen profit up
It delivered some 9.2 million cars to customers in 2023.
- Its profit rose 13.1 percent to $19.6 billion from the previous year
- The German auto giant expects vehicle deliveries to advance this year
Business
Over 70% report revenue surge in UAE from digital payments, Visa finds
Dubai, UAE - More than 70% of surveyed retailers in the UAE have experienced increased revenue and higher customer footfall since...
- The study focused on two groups of merchants - those accepting digital payments for 1-4 years and those exclusively dealing in cash transactions
- 95% of digital payment-accepting merchants believe that the value derived from digital payment acceptance are on par with or exceed the associated costs
Business
Thousands of international companies join Dubai Chamber of Commerce in 2023
Dubai, UAE--A study undertaken by Dubai Chamber of Commerce has revealed that Indian investors topped the list of nationalities of...
- Some 15,481 new Indian-owned companies became members in 2023, representing year-over-year (YoY) growth of 38 percent
- Pakistan ranked second in terms of new company memberships in 2023, with the chamber welcoming 8,036 new businesses in 2023