UAE records more than 25% growth in international card spending in 2023
Dubai, UAE--Total spending using international cards in the UAE witnessed a growth of more than 25% during the year 2023.J.K....
Business
Investigation
Are ‘unethical’ PR tactics harming GCC journalism?
TRENDS investigation uncovers Media-Public Relations Nexus as PR companies in the region are found crossing ethical boundaries to secure favorable...
- TRENDS investigation reveals questionable practices by public relations companies in the Middle East that contribute to the decline in critical reportage in the region
- Journalists disclose inducements from PR firms to secure favorable coverage for their clients; accuse them of blurring lines between editorial and sales, leading to ethical issues
Business
Dubai Islamic Bank unveils digital banking services
Dubai, UAE - Dubai Islamic Bank launched DIB alt, a full-fledged digital umbrella brand to house all of the bank's...
- DIB ‘alt’ is a full-service transformative digital banking experience that is set to enhance the banking experience for DIB’s customers.
- The platform brings together more than 135 digital services via the DIB Mobile App, Online Banking, WhatsApp, and ATMs.
Business
TAQA Arabia’s shares listed on EGX
More than 1.35 billion shares of the energy distribution firm were listed.
- The shares, at a nominal value of Egyptian Pound 0.50 apiece, will be listed in Egypt Listed Securities.
- From Sunday, TAQA Arabia’s shares shall be added to EGX database under the ticker symbol TAQA.CA, and it will be allocated in the utilities sector.
Geostrategy
Sharjah Chamber concludes successful 5-day trade mission to India
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has successfully concluded its trade mission to India after...
- The trade mission visited New Delhi and Mumbai to discuss potential investment opportunities.
- The business gatherings has served as an effective platform to discuss potential investment advantages.
Business
Workshops on suspicious transactions in gold, precious stone sector in UAE
ABU DHABI, UAE - UAE Ministry of Economy organized two workshops, in Arabic and English, to promote the awareness of...
- The workshops made the traders and business owners aware of the necessity of reporting suspicious transactions to the Financial Intelligence Unit.
- This will contribute to enhance the competitiveness of the gold sector and its development in line with international best practices.
Economy
Global Research Council re-elects Saudi Arabia as MENA region chair
Riyadh, Saudi Arabia--Saudi Arabia has been re-elected to represent the MENA region on the board of the Global Research Council...
- Dr. Munir Eldesouki's re-election to represent Saudi Arabia at the GRC reaffirms the kingdom's prominent position in the scientific and research fields
- Saudi Arabia has played a key role in the GRC's work since its founding in 2012, including boosting cooperation between research funding institutions
Economy
EDB inks MoU with ADDED to enhance support for Financial Support Program
Abu Dhabi, UAE--Emirates Development Bank (EDB) has signed a memorandum of understanding (MoU) with the Abu Dhabi Department of Economic...
- The financing program aims to help Abu Dhabi-based companies to receive finance offers from a range of banks all at once
- Emirates Development Bank can, according to its mandate, provide $8.16 billion in financing support to 13,500 companies by 2026
Business
GCC feeds growing appetite for catering services
Rising disposable incomes, demand from businesses and events, online food delivery services, and increased tourism are driving the growth of...
- Rising disposable incomes, demand from businesses and events, online food delivery services, and increased tourism are driving the growth of Gulf catering services market
- Saudi Arabia leads the market, while the UAE is showing the fastest growth as major tech companies like Google and Microsoft are investing heavily in the sector
Business
Jewels of Emirates continues to attract visitors on third day
SHARJAH, UAE- The fourth edition of Jewels of Emirates Show at the Expo Center Sharjah has so far seen record...
- The event received an overwhelming response from visitors, with exhibitors unveiling a stunning array of exclusive and rare jewelry pieces.
- Emirati designer Shamma Al Hallami, in partnership with Salem Al Shueibi Jewelery, also debuted her latest collection of 18-carat gold jewelry
Business
EU bicycle exports surged to US$1.1bn in 2022
BRUSSELS, BELGIUM - The EU exported US$1.1 billion (€1.1 billion) worth of bicycles in 2022 (both electric and non-electric, a...
- The EU exported 365,000 electric bicycles and imported 1.2 million in 2022 while the imports were worth US$2.6 billion.
- The overall increase in the trade of bicycles can be attributed to an increase in the export and import of electric bicycles.
Company News
Latest News
Saudi Ports Authority invests US$3.46bn in maritime and logistics sectors
Riyadh, Saudi Arabia-- The Saudi Ports Authority also known as Mawani strengthened the maritime and logistics sectors with an investment...
Business
BYD overtakes Tesla in EV sales
Tesla's stock slipped after the news was announced.
Qatari exports to clients surge in 2023 to US$412m: Tasdeer
Doha, Qatar--The Qatar Development Bank's Export Development and Promotion Agency (Tasdeer), a subsidiary of the Qatar Development Bank, announced an...
Business
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Business
Dragon Oil starts oil production
The Al Wasl field is its first oil discovery in Egypt.
- Dragon Oil discovered the Al Wasl field, “North Safa” in 2021, making it the largest oil discovery in the Gulf of Suez region during the last twenty years
- The oil company will begin setting up a new offshore production platform, extending a production line and an electricity line to operate oil pumps
Business
GCC realty builds on diversification, sustainability
The Gulf real estate sector demonstrates remarkable resilience, buoyed by strategic economic diversification and a focus on sustainable and innovative...
- The Gulf real estate sector demonstrates remarkable resilience, buoyed by strategic economic diversification and a focus on sustainable and innovative urban development.
- Dubai's real estate market experienced a significant surge, with substantial growth in transactions and a continued appeal for foreign investors, despite global uncertainties.
Business
Invest Qatar launches azure open AI GPT-powered chatbot ‘Ai.SHA’
DOHA, QATAR - The Investment Promotion Agency Qatar (Invest Qatar) has partnered with Microsoft to develop Ai.SHA, an innovative AI-powered...
- This initiative positions Invest Qatar as one of the first investment promotion agencies (IPA) in the world to adopt advanced technology.
- This will pave the way for transformative changes in professional interactions between investors and businesses in Qatar.