Amazon set for launch of its first batch of Starlink-rival satellites
Washington, United States -- After delaying an earlier attempt due to bad weather, Amazon is preparing to launch its first...
Trump trade war pushes firms to consider stockpiling
Even if they don't all acknowledge it so openly, firms in many different sectors are stockpiling their products in the United...
Business
Business
Boubyan Bank 2022 net profit $189m
The bank will pay 6 fils in cash and 6% in bonus shares.
- The total consolidated assets of Boubyan Bank Group increased to KD 7.9 billion at a growth rate of 7 percent.
- The bank said the total of customers’ deposits grew by 6 percent to reach KD 6 billion, while the financing portfolio grew by 7 percent to reach KD 5.9 billion.
Videos
Resilient UAE health sector attracts job seekers
At G20's first Health Working Group meeting in India, UAE affirmed its commitment to play an active role in addressing...
- One of the prominent successes of Nafis program has been the inclusion of local students in health sector cadre development.
- A UAE delegation attended G20's first health working group session held in India from January 18 -20.
Business
UAE launches ‘Tax Support’ program to promote compliance with laws
Dubai, UAE - UAE's Federal Tax Authority (FTA) started the ‘Tax Support’ initiative to raise tax awareness among UAE’s business...
- The step is likely to help the businesses in enhancing compliance with tax laws and regulations.
- As a result, the first workshop for 2023 under the initiative was held on 24th and 25th January in Oud Metha, Dubai.
Business
Qatar joins consortium to explore Lebanon’s offshore gas
The deal will see the state-run QatarEnergy receive a minority 30 percent stake in two blocks of Lebanon's exclusive economic...
- The pact greenlights Lebanon's exploration of its southern Sidon reservoir following the signing of the landmark deal last Oct demarcating its maritime borders with Israel.
- Under a United States-brokered accord, Lebanon and Israel, which are officially still at war, delimited their maritime borders in October 2022.
Geostrategy
Jordan, EU sign two financing agreements worth US$69m
AMMAN, JORDAN - Confirming its role as one of Jordan’s main supporters, the European Union (EU) on Sunday signed two...
- The first is financing a US$42 million program in support of Jordan's Ministry of Justice, Judicial Council, Judicial Institute and Public Security Directorate.
- The second US$27 million contributes to the "Green Growth" program from the Food and Resilience Facility.
Business
DEWA commissions 17 transmission substations worth US$871m in 2022
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) inaugurated 17 new substations in 2022. These include fifteen 132kV stations...
- The transmission substations include 15 132kV stations with a conversion capacity of 2,280 megavolt amperes (MVA) and two 400kV stations with a conversion capacity of 4,000 MVA.
- DEWA installed 5km of 400kV overhead transmission lines and 247km of 132 kV ground cables to connect the substations to the main transmission network.
Business
Qatar’s planning authority, Microsoft to push emirate’s digital goals
Doha, Qatar-- Qatar's Planning and Statistics Authority (PSA) and Microsoft have signed an MoU to support the digital transformation in...
- The MoU will enable the Authority to implement projects, disseminate data and statistics, and support sustainability in line with Qatar National Vision 2030.
- Microsoft will provide PSA with full support, full access to global industry specialists, as well as support in artificial intelligence activities.
Business
Abu Dhabi stock exchange expects boom in listings in 2023
Abu Dhabi, UAE-- The Chairman of the Abu Dhabi Securities Exchange Hisham Khalid Malak expects an increase in listings on...
- Last year the stock exchange featured five initial public offerings and two dual listings, as well as listings for six exchange-traded funds and one blank-cheque company
- The chairman said the global picture is "starting to look better than expected, with a soft landing now forecast in the United States"
YEARBOOK 2023
Dubai realty: 2023 starts with ‘strongest’ sales
The emirate saw a record-breaking rise in real estate sales in the first two weeks of 2023, with a total...
- The emirate saw a record-breaking rise in real estate sales in the first two weeks of 2023, with a total of AED13.22 billion transacted across 4,275 deals, data suggest
- Sales of record amounts in the Dubai real estate market are indicative of the market's maturity and the maturity of its numerous real estate goods, the reports highlight
Business
Flybe stops trading, cancels flights
Earlier it was a leader in the UK domestic flights sector.
- "We are sad to announce that Flybe has been placed into administration," the airline tweeted.
- The UK Civil Aviation Authority advised passengers booked with Flybe not to go to the airport.
Amazon set for launch of its first batch of Starlink-rival satellites
Washington, United States -- After delaying an earlier attempt due to bad weather, Amazon is preparing to launch its first...
Company News
Latest News
Burgan Bank Sells 52% stake
Business
Dubai records $1.57 billion in weeklong real estate transactions
Dubai, UAE -- A total of 1,721 real estate and properties transactions valued at AED 5.8 billion ($1.57 billion) were...
Business
AD Ports to build passenger terminals at Egyptian Red Sea ports
Cairo, Egypt--AD Ports Group (AD Ports) has signed a contract with Egypt to build, develop, operate and maintain terminals for...
Business
Most Read
Business
Alba sets new production record
It produced 1,620,665 metric tonnes of aluminium in 2023.
- The CEO of Alba said that the company was not just celebrating numbers but the human capital behind "such achievement"
- He expressed his gratitude to the chairman of the board and also members of the board for their support during 2023
GCC business landscape evolves with rising AI tide
Companies in the region are leveraging artificial intelligence to enhance customer experiences, streamline operations, and stay competitive in the dynamic...
- Companies in the region are leveraging artificial intelligence to enhance customer experiences, streamline operations, and stay competitive in the dynamic marketplace.
- Driven by Saudi Arabia's 2030 plan and Dubai's Industrial Strategy 2030, the GCC sees a surge in AI adoption, facing regulatory and cybersecurity challenges in the cloud era.
Business
Penguin, SkyBlue ink MoU
The aim is to redefine outdoor media advertising in Abu Dhabi.
- Penguin and SkyBlue will collaborate on key advertising locations, with this being the Malaysian firm’s first move into the Abu Dhabi market.
- This follows an agreement between the Malaysian outdoor advertising company with the Road and Transport Authority (RTA), Dubai.