Boeing lowers 2044 global air fleet outlook amid supply chain woes
New York, United States -- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most...
Economy
Nvidia marks Paris tech fair with Europe AI push
Paris, France -- Drawing high-powered tech CEOs and a presidential visit, the Vivatech trade fair opened in Paris on Wednesday...
Business
Business
Saudi Arabia 60 percent self-sufficient in mango production
Dubai, UAE – Saudi Arabia has achieved 60 percent self-sufficiency in the production of mangoes in the kingdom, producing more...
- The kingdom produced more than 88000 tons of mangoes on more than 6880 hectares of land, the Ministry of Environment, Water and Agriculture said.
- More than 20 varieties of mango are produced during the growing season from April to August, which include Tommy Atkins, Kate, Kent, Alphonso.
Business
Oman issues order to regulate consumer cooperatives
MUSCAT, OMAN - Oman Ministry of Commerce, Industry and Investment Promotion on Sunday issued an order to regulate the activities...
- The order aims at promoting Omani products, establishing new supply chains, supporting national industries.
- The ministry pointed out that consumer cooperatives operate under a legal framework to sell goods.
Business
Ras Al Khaimah Economic Zone attracts 1,839 companies in Q1
Ras Al Khaimah, UAE--Ras Al Khaimah Economic Zone (RAKEZ) brought in 1,839 new companies in the first quarter of 2023,...
- RAKEZ CEO said the reason companies choose the zone was because of its innovative business solutions and aiding enterprises of diverse types
- The economic zone also posted high growth in sectors like services, e-commerce, and media companies, highlighting its diverse business landscape
Business
Women leaders ‘just as competent as men’
Creating an environment conducive to growth for women is no longer a nice-to-have but simply good business sense, says Sahar...
- Sahar Haidar, Director of Global Operations at Amana, highlights the competence of women leaders in male-dominated fields.
- Haidar emphasizes the importance of mentorship and creating supportive environments for women in the workforce.
Business
SDF signs $240m loan pact for Pakistan hydropower project
Dubai, UAE -- The Saudi Fund for Development (SFD) has signed a US$240 million loan agreement to support Pakistan's Mohmand...
- The project is co-financed by the Saudi Fund for Development, OPEC, Islamic Development Bank, and the Kuwait Fund for Arab Economic Development.
- By using renewable energy sources, the project will generate 800 MW of electricity production capacity.
Business
$124m plot of land among $2.83bn weekly realty deals in Dubai
Dubai, UAE – A plot of land that sold for AED456.25 million ($124.23 million) in Business Bay was the most...
- The Dubai Land Department said in its weekly report that 222 plots were sold for AED1.8 billion and 2,086 apartments and villas were sold for AED4.56 billion.
- Al Hebiah Fifth recorded the most transactions for this week with 93 sales transactions worth AED246.61 million.
Economy
US hiring eases in March as economy shows signs of cooling
US job gains eased in March for a second straight month, government data showed, adding to signs that the economy...
- The figures could bring some relief to policymakers who have been battling to rein in stubborn inflation.
- To ease demand, the Federal Reserve has lifted the benchmark lending rate nine times since early last year.
Economy
World food prices fall for 12 consecutive months, says UN
World food prices are still high but have fallen by a fifth compared to a year ago when prices soared...
- FAO said the fall in benchmark prices was "driven by declines in world quotations for cereals and vegetable oils."
- The UN agency added that food remained expensive for developing countries highly dependent on imports.
Business
Number of SMEs in UAE reaches 557,000 by end of 2022: Minister
Dubai, UAE -- A total of 557,000 small and medium enterprises (SMEs) were operating in the UAE at the end...
- Minister of Economy Abdullah bin Touq Al Marri said the number was in line with UAE’s ambitious plan to achieving 1 million SMEs by the end of 2030.
- The UAE banks provided AED 83.3 billion ($23 billion) in financial facilities to small and medium-sized enterprises in 2022.
Business
Al Ansari lists on DFM
The group raised $210m through the sale of 750 million shares.
- The group successfully raised $210 million)through the sale of 750 million shares for AED1.03
- The IPO was met with strong demand from investors, with the offering oversubscribed 22 times
Boeing lowers 2044 global air fleet outlook amid supply chain woes
New York, United States -- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most...
Economy
Company News
KPMG to merge UK, Swiss ops
Business
Latest News
ROSHN, Retal sign $99m deal
Business
Bahrain and GCC look to boost ‘convention, exhibition’ industry
Manama, Bahrain-- Bahrain and the Gulf Cooperation Council (GCC) are looking to boost cooperation in the convention and conference industry...
Business
IPT Energy floats new firm in Sharjah
It will engage in the import and trading of oil products.
Business
Most Read
Business
Imane Ayissi brings African tradition to Paris couture
PARIS, FRANCE - Imane Ayissi is on a mission to put authentic African textiles in the spotlight but faces an uphill...
- Ayissi in 2020 became the first designer from sub-Saharan Africa at haute couture week and seeks to resurrect more traditional fabrics like rafia.
- Such fabrics are drawn from local trees and plants, that were used before the African market was flooded with imports during the colonial period.
Business
European market up on record-busting Wall Street
A surge in tech titans including Apple, Amazon, Nvidia and Facebook parent Meta on Friday pushed New York's S&P 500...
- "European indices are pushing higher... as optimism over the direction of US earnings provide a tailwind behind tech stocks in particular," an expert said.
- Back in Asia, Tokyo was the main winner again, extending its blockbuster start to the year thanks to a weaker yen and rising Japanese inflation.
Business
Mac computers could reach new glory due to AI
SAN FRANCISCO, US - Forty years after igniting a PC revolution, Apple's Mac is stronger than ever and could reach new...
- Macs became the preferred choice for Apple fans along with artists, film makers and other creative professionals.
- Apple has been making inroads in business, getting help from iPhone lovers using their smartphones for work.