UAE, NeoNautica collaborate to develop Blue Pass platform
DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in...
Business
Ford to pay US$365m in US tariff fraud case
It will settle a civil suit linked to the disguising of imported vans.
Business
Business
Dubai Municipality unveils new online system for building permits
Dubai, UAE-- Seeking to enhance the emirate's position as a global pioneering city in adopting the latest technology in the...
- Aligned with the updated Dubai Building Code, the new system will provide smart and integrated services and solutions while implementing automated checks
- Complying with the latest BIM standards and geographic information systems, it will facilitate user registration through digital ID and instant recognition
Business
SPC Free Zone signs contracts with publishers from Sweden, Egypt and Algeria
Sharjah, UAE--The Sharjah Publishing City Free Zone (SPC Free Zone) has signed more than 10 partnership agreements with publishers from...
- The free zone since its founding in 2017 has hosted companies and institutions working in the publishing, printing, and distribution fields
- It held meetings with more than 50 publishers from around the world, underscoring the emirate's efforts to support the publishing and creative industries
Economy
UAE-India partnership a driver for economic growth: Al Marri
Speaking at an event in New Delhi, Abdullah bin Touq Al Marri, the UAE’s Minister of Economy, said that the...
- The minister said that the two countries were speeding up efforts to develop both economies and adopt plans that support vision for expansion
- Al Marri noted that the UAE is interested to support Indian government's plan to lift the country's GDP to US$5 trillion by the year 2025
Business
RAKEZ highlights Ras Al Khaimah’s potential to Chinese business owners
RAS AL KHAIMAH, UAE - A top-level delegation from Ras Al Khaimah Economic Zone (RAKEZ) recently concluded its trip to...
- The RAKEZ delegation interacted with prominent Chinese business owners from a range of sectors.
- The team traveled through Shanghai, Suzhou, Qingdao, Tianjin, Guangzhou, Foshan, and Zhuhai.
Business
Dubai records weeklong real estate transactions worth $3.02 billion
Dubai, UAE -- A total of 3,321 real estate transactions worth AED11.1 billion ($3.02 billion) were conducted in Dubai during...
- The DLD report showed that 220 plots were sold for AED 2.54 billion, 2,398 apartments and villas were sold for AED 5.85 billion.
- Wadi Al Safa 3 recorded the most transactions for this week by 61 sales transactions worth AED 728.44 million.
Business
PIF sets up firm Badael to curb tobacco use in Saudi Arabia
RIYADH, SAUDI ARABIA- The Public Investment Fund (PIF) announced the establishment of Badael Company, which aims to develop, manufacture and...
- Badael aims to address the negative impact that smoking has on the well-being of the Saudi population.
- The company’s products are expected to help nearly one million people give up smoking by 2032.
Business
East Pipes net profit $26.63m
The company had posted a loss of 3.2 million riyals the previous year.
- The growth in net profit was driven by a 141 percent year-on-year (YoY) surge in revenue to SAR 1.4 billion.
- The company's board also announced that SAR31.50 million in dividends was distributed to the company's shareholders.
Business
Ajman hotels posts 3% increase in revenues in Q1 2023
AJMAN, UAE - Ajman hotels and serviced apartments recorded a three percent growth in hotel revenues in the first quarter...
- Ajman tourism is looking for new ways to collaborate with local and international partners to advance the tourism sector by attracting new investments.
- The emirate of Ajman hosts 44 hotel establishments ranging from 1-star to 5-star hotels, resorts and luxury hotel apartments with 3,997 hotel rooms.
Business
Travel industry looks to Chinese tourists to cap post-Covid rebound
Jet makers, airline executives and hotel tycoons at this week's Qatar Economic Forum spoke of an apparently insatiable demand for...
- William Ellwood Heinecke, the owner of the Minor International hospitality group, said that in Q1 2023 the number of Chinese tourists in Thailand was 85% lesser than in 2019.
- "I think we are definitely in rebound, but more importantly we haven't seen China come back yet," he said, predicting the boom would be completed in the second half.
Business
Transporters in UAE asked to register in e-tracking system by Oct 30
Abu Dhabi, UAE -- UAE's Federal Authority for Identity, Citizenship, Customs & Port Security has asked transporters in the Emirates...
- Those who fail to register by this date will be fined AED1,000 for the first month, and AED100 for each subsequent month, with a maximum of AED5,000.
- The registration in the system shall be carried out by the target groups, through the license holder or his legal representative.
UAE, NeoNautica collaborate to develop Blue Pass platform
DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in...
Business
Company News
Gulf Air hit by data breach
Economy
Latest News
PGA works to extend ‘active and productive’ Saudi merger talks
An update on the PGA Tour website regarding talks said the memo, which reportedly was obtained by The Golf Channel...
Business
Iran-Azerbaijan trade registers 46 percent jump in 2022
Tehran, Iran-- Trade between Iran and Azerbaijan has registered a 46 percent jump in 2022, according to the deputy prime...
Business
Visitors flock to Sheikh Zayed Festival, boosting exhibitors’ sales
Abu Dhabi, UAE--Sheikh Zayed Festival is witnessing a large public turnout from citizens, residents and tourists from all over the...
Business
Most Read
YEARBOOK 2023
From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...
- UAE launched ALTÉRRA, the world’s largest private investment climate action vehicle, aimed at raising and mobilizing an additional $250bn for climate action.
- Despite global headwinds, CBUAE projects 3.3 percent year-on-year growth projected for the UAE economy in 2024.
Business
45 percent of Saudi employees work over 40 hours per week
Riyadh, Saudi Arabia -- Nearly 45.8 percent of employees in Saudi Arabia work more than 40 hours per week and...
- Figures also show that 46.6 percent of employees have received training on health and safety procedures, and 48.7 percent have health and safety departments in their workplace.
- Data also shows that 7.8 percent of employees deal directly or indirectly with chemicals, medical waste, radioactive materials or toxic gases.
Business
Bank takes over Amiantit subsidiary
The bank will absolve Amiantit of all its financial obligations.
- The debt being cleared constitutes approximately 50 percent of the total liabilities that Amiantit owes to various banks.
- Preliminary estimates suggest the company will recognize profits worth US$128 million as a result of this settlement.