Business
ECI, African TIA sign pact
They will strengthen trade ties and boost exports between the two markets.
- The deal follows the MoU each entity signed in March last year to enhance the global competitiveness of exporters by improving their awareness of export credit.
- Trade between the UAE and Africa has registered steady growth in recent years, with the Emirates becoming the fourth-biggest investor in Africa last year.
Economy
Aircraft orders drive US manufactured goods demand
A pick-up in aircraft orders boosted demand for big-ticket US manufactured goods in October, with numbers rising more than expected,...
- Orders for defense aircraft and parts soared 21.7 percent from September to October.
- Surging inflation in the United States and supply chain problems have proven a challenge to industry and consumers.
Geostrategy
Jordan, Egypt discuss various aspects of transportation
ALEXANDRIA, EGYPT - Jordan's Minister of Transport Maher Abu Al-Samen discussed with his Egyptian counterpart Kamel Al-Wazir ways and means...
- The talks were held on the sidelines of the Council meeting of Arab Transport Ministers in Alexandria, Egypt.
- Jordan's minister hailed the constructive meeting of Arab Transport Ministers.
Business
Lulu Group, Amazon sign agreement
They will optimize online grocery shopping for UAE customers.
- The products include everyday essentials and fresh grocery items delivered using fast-delivery options through the Amazon.ae online platform.
- Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (ADDED), said that such partnerships are what Abu Dhabi and the UAE continue to push for.
Business
Abu Dhabi DoH, Eversight to jointly set up UAE’s first eye, tissue bank
ABU DHABI, UAE - Abu Dhabi's Department of Health (DoH), the regulator of the healthcare sector in the Emirate, and...
- Department of Health Abu Dhabi and Eversight will focus on implementing the necessary arrangements for the eye and tissue bank.
- Eversight will develop a comprehensive medical framework to standardize and operate procedures on all clinical functions.
Business
Iraqi furniture-maker carves up stereotypes
Nour al-Janabi, 29, designs, makes and mends in her south Baghdad workshop go from rustic style to Louis XV. She...
- In oil-rich Iraq, women make up just 13.3 percent of the labour force, according to the World Bank.
- Janabi said she receives comments from women and men telling her: "You make Iraq proud and you have accomplished something."
Business
ADFD, AIIB to strengthen cooperation over sustainable economic development
Al Suwaidi welcomed AIIB’s decision to opt for Abu Dhabi as the preferred location to have its first operational office...
- Al Suwaidi welcomed AIIB’s decision to opt for Abu Dhabi as the preferred location to have its first operational office outside of China
- He and Jin Liqun discussed ways to enhance cooperation between ADFD and the bank over the Energy Transition Accelerator Financing initiative
Business
Aldar ties up with ADGMA to nurture local talent
Abu Dhabi— Aldar has partnered with the Abu Dhabi Global Market Academy (ADGMA) to develop a range of talent development...
- Since the introduction of the NAFIS program in September 2021, Aldar has hired more than 260 Emiratis across the group
- The collaboration aims to enhance both entities’ contribution towards the UAE’s knowledge-based economy and foster the next generation of business leaders in the private sector
Business
Affirma Capital seeks to exit its stake in Jordan-based Fine Hygienic Holding
Affirma is in talks with Moelis & Co. on the sale of its minority stake in the company, sources told...
- Affirma is in talks with Moelis & Co. on the sale of its minority stake in the company, sources told the agency
- The Middle East is becoming increasingly attractive to private equity players thanks to strong post-pandemic economic growth
Business
ADGM’s new service highlights how metaverse may help in mediation as underlined at TOP CEO Conference
The ADGM Arbitration Centre has launched the world’s-first service that hosts mediation in the metaverse. Interestingly, it was one of...
- The ADGM Arbitration Centre has launched the world’s-first service that hosts mediation in the metaverse. Interestingly, it was one of the focuses of Dubai event held in May
- ADGM’s “mediation in the metaverse” service will provide a more immersive experience, enhancing virtual mediation by allowing the participants to access a 3D office space.
Company News
Mawani, SGP ink US$266m pact
Business
Volkswagen revenue up
Business
Palms Sports posts Q3 profit
Business
Latest News
Dubai records $3.51 billion in weeklong real estate deals
Dubai, UAE -- The real estate and properties transactions valued at 12.9 billion ($3.51 billion) in total during the week...
Business
GCC region’s non-hydrocarbon growth momentum strong: IMF
Riyadh, Saudi Arabia -- The GCC region’s non-hydrocarbon growth momentum remains strong, driven by higher domestic demand, increased gross capital...
Business
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Business
Tabreed gets US$163m Green Revolving Credit Facility
ABU DHABI, UAE - Tabreed on Thursday announced the successful closure of its inaugural US$163 million (AED600 million) Green Revolving...
- This financing agreement, spanning five years, aligns with Tabreed's overarching sustainability strategy.
- The facility will introduce efficient cooling solutions, meeting the regional demand for sustainable innovative technologies.
Business
ADCB, EIH sign agreement
ADCB to sell 80 percent stake in ADCP to Nine Yards Plus.
- The transaction values ADCP at US$161 million and ADCB will gain of nearly US$133 million subject to closing conditions before end of December 2023.
- ADCB will retain a 20 percent stake in ADCP post transaction and will continue its partnership via a long-term relationship agreement.
Business
Saudi ministry explores investment with Chinese groups in aquaculture
Shenzhen, China - Saudi Ministry of Environment, Water and Agriculture discussed ways to enhance investments between the Kingdom and China...
- The National Fisheries Development Program, a delegation of Saudi ministry, participated in the Global Investment Promotion Conference.
- The conference was held in the Chinese city of Shenzhen, and the two sides discussed investment opportunities and improving investment relations between the two countries.