European Union and UAE agree to launch trade deal negotiations
Emirati President Mohammed bin Zayed Al Nahyan "and I just decided to launch negotiations on an EU-UAE free trade agreement,"...
Geostrategy
$20 million rare blue diamond goes on show in Abu Dhabi
Abu Dhabi, United Arab Emirates -- A rare blue diamond valued at $20 million went on pre-auction display on Tuesday...
Business
Business
Meeza to offer 50% shares in IPO
The company will follow it up with a listing on QSE.
- Meeza, in a statement, said that it will offer 50 percent of the shares, 324.49 million, at an offer price of QR 2.17 per offer share
- Before the offering, it doled out 37.41% of the offer shares to a set of qualified investors according to the book building mechanism
Business
DP World partners with Standard Bank to expand trade finance in Africa
Dubai, UAE-- In order to fulfill demand for working capital in Africa, DP World has partnered with Standard Bank, the...
- Companies across the continent can now borrow working capital from Standard Bank through the DP World Trade Finance platform
- The group chairman of DP World said Africa is a key market for the company and the partnership will strengthen development in Africa
Business
Holiday homes in Dubai to get ‘QR Code’ to improve transparency
Dubai, UAE - Dubai on Monday launched a new QR Code initiative for holiday homes, as part of efforts to...
- As part of the initiative, owners of Holiday Homes will now be required to display a QR code on the main entrances of their vacation properties in Dubai
- This code enables visitors and guests to conveniently scan it and access essential information about the operator of the Holiday Home
Business
Coffee machines brew demand as global crises sip in
Key challenges faced by coffee equipment makers in the GCC include market competition, customer price sensitivity, and managing complex distribution...
- Key challenges faced by coffee equipment makers in the GCC include market competition, customer price sensitivity, and managing complex distribution and logistics networks.
- Csaba Henter, General Manager of La Marzocco in the UAE, sees a rising appreciation for specialty coffee and sustained demand for premium coffee machines in the Gulf region
Business
QCC, Setup in Abu Dhabi partner to strengthen SMEs export capability
ABU DHABI, UAE - Abu Dhabi Quality Conformity Council (QCC) has joined Setup in Abu Dhabi, a comprehensive SME enabling...
- The partnership will strengthen SMEs exporting capabilities by benefiting from in-depth consulting which is backed by research and expertise.
- Setup in Abu Dhabi was launched by Creative Zone in 2022 with Abu Dhabi Department of Economic Development, other government and private entities.
Business
Yanbu Cement to pay $62.93m in dividends
The cash dividend of SAR1.50 per share will be paid for H1 2023.
- In a Tadawul filing, the firm said the eligibility and distribution dates for the cash dividends will be 31 May and 20 June 2023, respectively.
- The company had posted a net profit of SAR51 million for the first quarter of 2023, a 31 percent increase from SAR 39 million in Q1 2022.
Business
UAE-India Business Forum discusses investment opportunities
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has embarked on a landmark trade mission to India,...
- The UAE-India Business Forum brought together key business leaders, government officials and industry experts from both Sharjah and Mumbai.
- The trade mission's first leg commenced with the highly successful UAE-India Business Forum held in Mumbai, India's bustling commercial capital.
Business
Saudi SEZs attract $12bn in investments since launch in April
An additional $31 billion in investments are in progress, the Special Economic Zones Investment Forum in Riyadh was told Tuesday....
- Saudi Arabia's Minister of Investment Khalid Al-Falih said kingdom closed deals worth SAR 285 billion ($76 billion) in 2022 across sectors ranging from agriculture to aerospace.
- The Special Economic Zones Investment Forum in Riyadh was told Tuesday that an additional $31 billion in investments in the SEZs are in progress.
Business
World at tipping point of new computer era: Nvidia chief
Jensen Huang unveiled a raft of AI-related products in his first public speech in four years at Taiwan tech trade...
- The new supercomputer will -- in theory -- help the tech industry as it seeks to create more AI-related products, which require more complex computing tasks.
- “We're so excited that Google Cloud, Meta and Microsoft will be the first companies in the world to have access," Huang added.
Business
DFM launches futures contract on General Index
Dubai, UAE - The Dubai Financial Market (DFM) on Monday announced the offering of futures contracts on its General Index...
- Trading futures contracts on the DFMGI offers investors the opportunity to access DFM’s largest and most liquid stocks.
- DFMGI will provide strong diversification and hedging opportunities for both retail and institutional investors.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
European Union and UAE agree to launch trade deal negotiations
Emirati President Mohammed bin Zayed Al Nahyan "and I just decided to launch negotiations on an EU-UAE free trade agreement,"...
Geostrategy
Company News
Latest News
Oman’s MSX-listed banks see 18.6 percent net profit growth in 2023
MUSCAT, OMAN - Omani banks listed on the Muscat Stock Exchange (MSX) recorded net profits of US$1.17 billion (RO453.5 million)...
Business
Oil sees fluctuating prices, shifting output trends
The crude oil market experienced significant volatility in the year 2023, with prices swinging dramatically, influenced by various global factors.
Business
GCC’s F&B packaging industry transforms post-COVID
The F&B packaging industry in the region adapts to post-COVID consumer behaviors, emphasizing health, wellness, and sustainability, Abdelghany Eladib of...
Business
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Business
Airbus and Tata to build helicopter assembly line in India
Paris, France - Airbus will build a helicopter assembly line in India with Indian conglomerate Tata, the European aircraft manufacturer said Friday....
- Airbus said the facility -- which will take two years to set up -- would be the first such operation to be run by a private group in India.
- Airbus CEO Guillaume Faury said making the helicopter in India would "unlock the true potential of the helicopter market in the country".
Business
Telegraph boss quits as UK investigates UAE-backed takeover
London, United Kingdom - The head of Britain's Telegraph Media Group has stepped down, the company announced on Friday, as the...
- TMG and parent company Press Acquisitions Limited said that chief executive officer Nick Hugh, in the post since 2017, had left his role with immediate effect
- The announcement came on the day the regulators were due to submit a review to the government laying out the potential impact of the attempted takeover by RedBird IMI
Market Report
Paris stocks hit record thanks to luxury
Europe's main stock markets shot higher, with Paris closing at a record high as shares in LVMH surged on record...
- Hong Kong stocks slumped after rallying for much of the week, as traders awaited guidance on more Chinese stimulus.
- Oil prices fell as traders banked profits from a strong week for crude.