Boeing to sell some assets to Thoma Bravo
The $10.55 bn sale includes portions of digital aviation solutions business.
Business
Global tax plans targeting super rich and tech giants stall under Trump
Paris, France -- Global tax plans targeting billionaires and multinational companies are running aground, with the United States torpedoing reforms...
Business
Business
ECI names acting CEO
Raja Al Mazrouei will succeed Massimo Falcioni.
- Raja Al Mazrouei is a digital transformation expert with over two decades of experience in the financial services and technology sectors
- She has a track record of successfully turning around and enabling businesses and is also a member of multiple boards in the region
Geostrategy
UAE, UK sign agreement to cooperate in the energy sector
ABU DHABI, UAE - UAE Ministry of Energy and Infrastructure signed a Memorandum of Understanding (MoU) with UK Department for...
- The agreement aims to exchange information, knowledge, expertise and studies in the field of energy
- The MoU aims to enhance strategic and technical cooperation in the energy sector, develop renewable energy technologies including regulatory frameworks and incentives.
Business
UAE Tax Policy ranks fourth on World Competitiveness Yearbook 2022
Dubai, UAE: The United Arab Emirates ranks fourth on the list of 63 economies around the world in the Tax...
- Published by Switzerland-based International Institute for Management Development (IMD), the World Competitiveness Yearbook assesses and ranks 63 economies around the world.
- The UAE place on the Yearbook depicts the country’s total contribution to GDP with its taxes, its stable rates of inflation, low tariffs and balanced price indexes.
Business
Building permissions issued by Qatar fall by 18 percent in Dec
Doha, Qatar-- The number of building permits issued in Qatar in December 2022 decreased by 18 percent (527 permits), compared...
- The decrease was noted the most in the municipalities of Al Rayyan (47 percent), Al Khor (37 percent), Al Shammal (25 percent.
- permits. Villas top the new residential buildings permits list, accounting for 83 percent (120 permits) in the residential sector.
Market Report
Gulf markets, except Kuwait and Qatar, end higher
The Saudi market's general index, TASI, rose 1.19%, Dubai Financial Market 0.47%, Abu Dhabi Stock Market Vadax 15 index 0.133%...
- Fifteen sectors rose on the Saudi Stock Exchange, led by banks at 2.37 percent, capital goods 1.64 percent, energy 0.93 percent.
- In the Dubai Stock Exchange, the industry sector increased by 1.2 percent, followed by the real estate sector by 0.9 percent, the consumer goods sector by 0.44 percent,
Business
Al Seer Marine unveils MEGA II
MEGA II is the world's largest 3D printer, the company said.
- The technology will enable engineers to develop large-scale boats and products that are in high demand.
- The global additive manufacturing market size was valued at $13.84 billion in 2021 and is expected to reach $44.03 billion by 2027.
Science
Global conference on Pharmaceutical Technologies concludes in Dubai
DUBAI, UAE - The 28th edition of the Dubai International Pharmaceutical Technologies Conference and Exhibition (DUPHAT) 2023 concluded. The three-day...
- The largest-ever edition of DUPHAT, the 2023 event brought together more than 1,100 exhibiting companies.
- The event also discussed on how countries in the region can collaborate to enhance partnerships in the pharmaceutical industry.
Business
DEWA organized 157 health, safety training sessions for employees in 2022
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has organized 157 training courses and awareness sessions on occupational health...
- DEWA organized its 20th Internal Health and Safety Week which featured various activities in aspects of occupational health and safety.
- DEWA continues to upgrade the expertise of its staff to reach the highest levels of excellence and quality through ongoing training.
Business
Dubai records over $517 million in realty transactions Thursday
Dubai, UAE--Dubai real estate market recorded transactions worth AED1.9 billion ($517 million) on Thursday, Dubai Land Department said. These included...
- These included 432 sales worth AED1.45 billion, in addition to 73 mortgage deals of AED464.03 million, and 20 gift deals amounting to AED18.34 million.
- The sales included 342 villas and apartments worth AED1.06 billion, and 90 land plots worth AED384.09 million.
China operates first domestic Boeing 737 MAX flight since 2019
China grounded the plane after two deadly accidents involving the model in 2018 and 2019. An Ethiopian Airlines flight crashed...
- The China Southern Airlines flight left the city of Guangzhou in the afternoon headed for Zhengzhou
- A second 737 MAX flight took off from Guangzhou later on, flying to the central city of Wuhan
Boeing to sell some assets to Thoma Bravo
The $10.55 bn sale includes portions of digital aviation solutions business.
Business
Company News
Agthia Group revenue soars
Business
Latest News
EDGE acquires 52% of ANAVIA
Business
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.