Globalization must be inclusive, not extractive. Multinationals can lead by example
We’re witnessing a period of dramatic adjustment in international trade, as tariffs and geopolitical tensions disrupt or reorient supply chains....
Business
24 Dubai real-estate projects worth $1.22bn completed in H1
Dubai, UAE -- The first half of 2025 saw the completion of 24 real estate projects valued at AED 4.5...
Business
Business
Qatar Finance and Business Academy signs MoU with Morgan International
Doha, Qatar-- Qatar Finance and Business Academy and Morgan International have signed a memorandum of understanding (MoU) to provide training...
- The agreement between the two will provide individuals and organizations with training and upskilling solutions to enable them to operate within the country's financial market
- Qatar Finance and Business Academy looks to support the process of localization in Qatar through its programs by providing the labor market with professional leaders
Business
Saudi Arabia and UK hold discussions to boost economic partnership
London, UK-- Saudi Arabia and the UK have held discussions to boost trade and economic partnership between the two countries....
- Saudi Commerce Minister Dr. Majid Al-Qasabi met with several British ministers and leaders of major companies in London to discuss expansion of business ties
- The Saudi delegation presented the programs of the kingdom's Vision 2030 to expand business opportunities and investments between the two countries
Economy
UAE-Turkey non-oil intra-trade crosses US$103 billion in last 10 years
Abu Dhabi, UAE-- The UAE and Turkey economic ties have witnessed a great leap in the last decade with non-oil...
- Raw gold topped the list of the five most key commodities imported by the UAE from Turkey in 2022, with a value of $4.35 billion
- The UAE and Turkey inked an agreement in March this year, which looks to scale up trade between the two countries to US$40 billion in five years
Interview
Rate rise boosts Gulf banks amid crisis
Despite global economic challenges such as the crisis, inflation, and high interest rates, the GCC banking sector has shown impressive...
- Despite crises in US and Europe, the GCC banking sector has shown significant growth, aided by rate hikes and digitalization, says Commercial Bank of Kuwait CEO Elham Mahfouz
- Kuwait's banking industry recorded a 37% profit increase in 2022, and is making strides in adopting AI and supporting sustainability initiatives, she tells TRENDS in an interview
Geostrategy
UAE, Turkish presidents discuss bilateral, economic relations in Istanbul
ISTANBUL, TURKEY - UAE President Sheikh Mohamed bin Zayed Al Nahyan arrived here on Saturday for a working visit and...
- The UAE and Turkish presidents discussed their shared interest in advancing sustainable economic growth and social development.
- Both the leaders applauded the recent progress witnessed in UAE- Turkey relations and discussed the benefits of CEPA.
Business
SPC Free Zone to provide licenses within 45 minutes
SHARJAH, UAE - Sharjah Publishing City Free Zone (SPC Free Zone) has announced an expedited business setup process, allowing businesses...
- SPC Free Zone has also unveiled a limited-time package aimed at reducing business licensing and set-up costs.
- It empowers smaller businesses and aspiring entrepreneurs to establish or expand their operations in the emirate.
Business
DEWA’s R&D Center develops technology to simulate leaks in water transmission pipes
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) ’s Research and Development (R&D) Center has developed an advanced, smart...
- The center developed the facility using software and hardware, based on the concept of the Internet of Things (IoT).
- Based on experimental data using the facility, the developed algorithm was able to identify leakage events with 94.4 percent accuracy.
Economy
Qatar and Iran to boost cooperation in labor sector
Dubai, UAE-- Qatar and Iran intend to expand cooperation in the fields of labor, employment, and exchange of skill-training experiences....
- The two ministers met on the sidelines of the 111th session of the International Labour Conference in Geneva and discussed deepening ties
- Qatari minister while applauding Iran's role during the sanctions said Doha will never forget Tehran's support during the period of crisis
Business
UAE and Cambodia to ramp up bilateral trade to US$1bn in five years
Phnom Penh, Cambodia-- The UAE and Cambodia have agreed to boost economic ties, expanding the bilateral non-oil trade from the...
- The two sides agreed that the Comprehensive Economic Partnership Agreement signed during the visit was the best means of achieving the economic ambitions
- The UAE side explored opportunities to enter into partnerships with business executives from Cambodia's fast developing sectors like apparel and fintech
Economy
UAE national banks provide $99.9 bn credit to trade, industry in Q1 2023
Abu Dhabi, UAE - Credit financing provided by the UAE national banks to the trade and industry sectors grew 6.1...
- The statistics showed that the cumulative balance of credit provided by national banks to the two sectors amounted to $99.9 billion
- According to the apex bank’s data, the cumulative balance of credit provided by national banks to the two sectors increased on a monthly basis by 0.1 percent
Globalization must be inclusive, not extractive. Multinationals can lead by example
We’re witnessing a period of dramatic adjustment in international trade, as tariffs and geopolitical tensions disrupt or reorient supply chains....
Business
Company News
Saudi, UAE report highest levels of gross debt
Infographics
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Geostrategy
Air Arabia 2023 net profit $408m
The firm recorded a 27 percent rise in profit compared to 2022.
Business
EU adopts fallow land exemption after farmer protests
Brussels, Belgium - The European Commission on Tuesday officially extended an exemption from contested rules to leave a share of agricultural...
Business
Bitcoin crosses $50,000 for first time since 2021
The cryptocurrency has enjoyed a strong run-in recent month, fueled by expectations US lawmakers would allow the creation of exchange-traded...
Business
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Business
ADNOC Drilling profit soars 29%
The company's revenue for the year 2023 was US$3.05bn.
- The company's EBITDA for 2023 shot up 20 percent to US$1.483 billion with industry-leading EBITDA margin of 49 percent
- It added 14 new drilling units in 2023, including four lease-to-own land rigs, making it one of the world’s largest fleets of 129 rigs
Business
Al Mal Capital REIT to launch rights issue
The fund has an existing portfolio valued at US$158m.
- Its CEO said the issue is a step in their journey to generate consistent and sustainable value for investors
- The fund has an existing portfolio valued at $158 million, primarily invested in educational assets in the UAE
Business
Energy transition led Saudi Arabia to halt oil expansion, says official
RIYADH, SAUDI ARABIA – The Kingdom's surprise decision to halt a planned expansion of its oil production capacity reflects ambitions to...
- Aramco announced on January 30 that the energy ministry had ordered it to maintain production capacity at 12 million barrels per day.
- Officials in the world's biggest crude exporter did not explain the move, leaving analysts to speculate that it reflected lack of confidence