Air Arabia shareholders approve 20% dividend for FY2023
SHARJAH, UAE – Air Arabia shareholders approved the distribution of a 20 percent cash dividend for the financial year ended...
Business
Dubai receives 1.77m international tourists in January this year
Dubai, UAE--Dubai welcomed 1.77 million international tourists in January 2024, an increase of 21% compared to 1.47 million visitors in...
Business
Asian, European markets drop as China stimulus hopes fade
Equities enjoyed a strong run-up last week, partly on the back of hopes that Beijing would unveil a raft of...
- Tokyo, Hong Kong, Shanghai, Seoul, Mumbai, Singapore, Taipei, Manila, Jakarta, Bangkok and Wellington were all down, though Sydney rose
- Pound will be in view this week as the Bank of England holds its latest policy meeting, with expectations for another hike to battle persistently high inflation
Economy
UAE’s GCAA signs agreement with ICAO to boost collaboration
Montreal, Canada--The UAE General Civil Aviation Authority (GCAA)Â and the International Civil Aviation Organisation (ICAO) has signed a joint cooperation agreement...
- The meeting between the two sides discussed training collaboration that aims to support a safe, secure, and sustainable development of the global air transport
- The GCAA and ICAO delegations also reviewed joint initiatives, the most notable of which is Fujairah Air Navigation's accession to ICAO's TRAINAIR PLUS Program
Economy
UAE’s foreign trade records 17% jump to US$607bn in 2022
The boost in foreign trade comes on the back of the signing of the comprehensive economic partnership agreements that the...
- The UAE until now has forged comprehensive economic partnership agreements with four nations: Turkey, Israel, Indonesia and India
- Dubai Customs provides a range of commercial and customs services to traders and investors from countries that have signed CEPA with the UAE
Business
Saudi healthcare needs 175,000 professionals by 2030
The Kingdom is modernizing healthcare with national e-health initiatives, integrated plans for virtual and remote healthcare, and the implementation of...
- The Kingdom is modernizing healthcare with national e-health initiatives, integrated plans for virtual and remote healthcare, and implementation of AI at service provider levels
- The Saudi government is also investing in training and recruiting healthcare professionals, encouraging Saudi students to pursue medical and healthcare-related education
Business
New $25bn Intel plant Israel’s single largest foreign investment
The "agreement in principle" would see the semiconductor firm build the facility in southern city Kiryat Gat that would open...
- Intel in return would receive a grant of 12.8 percent of its outlay, the ministry said, in line with Israel's capital investment encouragement law.
- Intel has been operating in Israel since the 1970s with development centers and a production site that employ some 12,000 people.
Business
Allianz, Credit Agricole renew partnership
Credit Agricole Egypt is a subsidiary of Credit Agricole Group.
- The agreement is set to expand Allianz Egypt's customer base while delivering top-notch insurance services to the bank's customers, the companies said in a statement.
- The collaboration aims to provide integrated financial and insurance services, covering life, property, and casualty insurance, under one roof.
Business
Sheikh Mohammed inaugurates 5th phase of Mohammed bin Rashid Al Maktoum Solar Park
DUBAI, UAE - Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of...
- Sheikh Mohammed inaugurates 5th phase of Mohammed bin Rashid Al Maktoum Solar Park.
- The fifth phase of the project will provide clean energy will reduce 1.18 million tonnes of carbon emissions annually.
Business
Iconic Balti eateries in UK facing battle to survive
The balti -- a curry of spices, coriander, onions, tomatoes and green peppers with meat or fish -- was created...
- Andy Munro is on a mission to save what he and other devotees view as a key part of Birmingham's cultural and culinary heritage.
- Munro, author of "Going for a Balti: The Story of Birmingham's Signature Dish" and who runs a website for balti lovers, is looking to the local authorities for support.
Gulf Union Alahlia Q1 profit $7.5m
Results were due to a fall in insurance services expenses.
- Net investment income rose to US$1.2 million (SAR 4.6 million) from US$1 million (SAR 4 million) in Q1 2022.
- The insurance services provider reported a rise in other income to US$4 million (SAR 15 million) in Q1 2023.
Business
Binance and SEC reach deal to repatriate US customers’ funds
US Securities and Exchange Commission did not specify how many of Binance's US customers are affected, nor the value represented...
- Binance is alleged to have permitted US residents to trade, even though the platform is not registered in the United States as a securities exchange.
- The platform, created in Shanghai in 2017, has cornered much of the crypto-trading market, turning its globe-trotting founder Zhao into a billionaire.
Air Arabia shareholders approve 20% dividend for FY2023
SHARJAH, UAE – Air Arabia shareholders approved the distribution of a 20 percent cash dividend for the financial year ended...
Business
Company News
Latest News
Meta, IBM tie up to develop AI
Business
Oil prices slump but stock markets mostly higher
Wall Street indices enjoyed solid gains, including the Dow, which mustered a 0.6 percent advance in spite of an eight...
Most Read
Business
Etihad Airways spreading wings to embrace new skies
"Our goal is to usher in a new era of sustainable growth, anchored by a solid strategic plan," he adds,...
- Etihad plans to expand its global network with new destinations like Boston and Nairobi as part of the 'Etihad Airways 2030' strategy.
- The airline bolsters its strategic growth, providing premium services and connecting Abu Dhabi to 117 international destinations.
Business
CBB Sukuk Al Salam securities oversubscribed by 372%
Manama, Bahrain--The Central Bank of Bahrain (CBB) announced that the monthly issue of the Sukuk Al Salam Islamic securities has...
- With a maturity period of 91 days, subscriptions worth $426 million were received for the $114.36 million issue
- According to Bahrain News Agency, the expected return on the issue is 6.35%, equivalent to the previous issue
Economy
Markets drop as US jobs deal fresh blow to early rate cut hopes
Hong Kong, China - Asian markets stumbled out of the gates Monday, extending last week's grim start to the year, after...
- The keenly awaited non-farm payrolls data Friday showed the world's number one economy remains resilient despite interest rates sitting at a two-decade high
- Equities ended 2023 with a surge as traders bet on a string of reductions this year thanks to falling inflation and a softening of the labor market