Expo Centre Sharjah gives peek into its plan to attract new exhibitors
Sharjah, UAE--Expo Centre Sharjah (ECS) has unveiled its future projects and forthcoming initiatives to develop and enhance the exhibitions sector...
Business
Global football stars choose Red Sea destination for holiday
TABUK, SAUDI ARABIA – A few days ago, the Red Sea destination hosted several international football stars from Saudi Pro...
Business
Business
Defying turmoil, Porsche to go ‘full throttle’ with blockbuster IPO
Even as stocks worldwide suffer from surging inflation and mounting recession fears, the maker of the 911 sports car is...
- Parent company Volkswagen is set to raise 9.4 billion euros from the listing with Porsche's shares each to be issued at 82.50 euros
- Some of the cash raised will be ploughed into Volkswagen's high-speed drive towards electric vehicles
Business
High oil prices keep MENA’s economic health intact
The average price of a barrel of Brent crude oil is expected to be $101 in 2022 and $84 in...
- The average price of a barrel of Brent crude oil is expected to be $101 in 2022 and $84 in 2023. However, Brent oil prices may fall to US$ 75/b by 2025 and US$ 70/b by 2027
- Even if Brent crude oil prices drop to US$ 75/b, major oil exporters in the MENA regoin --mainly Saudi Arabia, Iraq, UAE, and Kuwait -- would be able to adapt well, says a report
Business
Afghanistan to import petroleum products, wheat from Russia
Taliban officials have maintained that they are looking to strike trade deals with the international community, and have so far...
- Russia is hit hard by unprecedented Western sanctions over its invasion of Ukraine, causing Moscow to push exports to Asian countries.
- The deal includes supplying Kabul with one million tons of gasoline, a million tons of diesel, 500,000 tons of liquefied petroleum gas.
Business
$3 billion joint-venture railway to link Oman and UAE
The 303km railway, with passenger trains traveling up to 200kmper hour, will join up with the UAE's national network that...
- The railway will link Abu Dhabi with Oman's deep-sea Sohar port, which bills itself as a nexus of trade between Asia and Europe.
- A multi-billion dollar railway linking the six Gulf Cooperation Council countries has languished since a feasibility study was approved in 2004.
Geostrategy
EU proposes new sanctions on Russian exports
The EU's executive proposed a new round of sanctions on Moscow over its latest "escalation" in Ukraine, including an oil...
- As part of the new round of sanctions the commission is laying out a 'legal basis' for a price cap on Russian oil
- It will also look to ban Russian exports worth $7 billion and tighten restrictions on goods flowing from the EU.
Business
Musk seeks to lift regulator ‘muzzle’ on Tesla tweets
The SEC also charged Musk with fraud and ordered him to step down as chair of Tesla's board of directors,...
- The Securities and Exchange Commission reprimanded Musk after posting a tweet in 2018, in which he said he had acquired funding to take Tesla private
- Musk, whose fortune is estimated by Forbes to be nearly $260 billion, is also locked in a lawsuit with Twitter over a potential acquisition of the micro-blogging platform
Geostrategy
UAE, Japan sign comprehensive strategic partnership pact
Minister of Industry and Advanced Technology and UAE Special Envoy to Japan Dr. Sultan bin Ahmed Al Jaber and the...
- The UAE-Japan strategic partnership agreement aims to bolster relations between the two countries to advance their common interests.
- The key areas of the partnership include diplomacy, enhancing international development, humanitarian aid efforts, business, trade, energy.
Business
Abu Dhabi Exchange, MSX sign cooperation agreement
Abu Dhabi, UAE---The Abu Dhabi Securities Exchange (ADX) and the Muscat Securities Market (MSX) signed a memorandum of understanding (MOU)...
- The two sides will cooperate in a number of areas, including advisory services, training, development of systems, and promotion of integration.
- It also provides a channel of direct communication between the two parties, for the exchange of legal and technical information, sustainability and ESG.
Business
CMA clears three new IPOs for listings on Saudi bourses
The CMA has approved an application from Power and Water Utility Co. for Jubail and Yanbu to register and sell...
- IPOs in Saudi Arabia are on course for a record year, with the number of listings already exceeding last year
- The main TASI index accounted for eight listings generating $4.4 billion, and the parallel Nomu market had nine listings worth $649 million
Business
IHC buys 54% stake in Emircom
Firm buys stake for $68 million via its subsidiary IHC Digital
- Emircom is the Middle East’s leading information and communications technology (ICT) provider.
- This $68 million purchase comes as part of IHC’s strategy to grow its digital assets portfolio and expand into new growth areas.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Expo Centre Sharjah gives peek into its plan to attract new exhibitors
Sharjah, UAE--Expo Centre Sharjah (ECS) has unveiled its future projects and forthcoming initiatives to develop and enhance the exhibitions sector...
Business
Company News
Chimera launches Lunate
Business
Latest News
Sharjah records real estate transactions worth US$980m in October 2023
SHARJAH, UAE – A total of 3,798 transactions were conducted here in October 2023 across various regions of the emirate,...
Business
Dubai Taxi to sell 624 million shares in IPO, plans to list on DFM
Dubai, UAE -- Dubai Taxi Company Monday announced its intention to proceed with an Initial Public Offering (IPO) and to...
Business
Most Read
Economy
Insect farming ‘revolutionizes’ Gulf agriculture
Across the arid region, in which conventional agriculture is beset by many challenges, insect farming for livestock feed is perceived...
- Many experts feel insect farming as against livestock farming emits fewer greenhouse emissions and uses fewer natural resources like water and feed
- The region, however, with its unique climatic conditions and inadequate water supply, poses many hurdles for sustainable insect cultivation
Economy
Emiratization: CBUAE to provide financial sector job opportunities
Abu Dhabi, UAE - The CBUAE will provide UAE nationals with job opportunities across various banking and insurance specializations in...
- The central bank will leverage the platform to educate attendants of its regulatory and supervisory role and financial inclusion efforts
- The CBUAE Youth Council will also showcase its initiatives to enhance the role of the youth in the financial sector
Business
Blockchain enhances efficiency, security in aviation
Despite facing challenges like regulatory compliance and interoperability, blockchain promises to revolutionize airline operations, offering improved passenger experiences.
- Despite facing challenges like regulatory compliance and interoperability, blockchain promises to revolutionize airline operations, offering improved passenger experiences.
- Blockchain technology is revolutionizing aviation with enhanced transparency, security, and operational efficiency, promising significant cost savings, says Aerobloc's founder.