Jordan exports pharmaceutical products worth US$874m in 2023
AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...
Business
Turkish Airlines restarts Libya flights after almost a decade
Istanbul, Turkey - Turkey's flagship carrier, Turkish Airlines, has resumed flights to Libya's capital, almost 10 years after they were suspended...
Business
Business
Saudi-UAE non-oil trade increased by 92.5 percent in past decade
The value of non-oil exports from the UAE to Saudi Arabia over the past ten years was around AED205.5 billion,...
- By end of 2012, the value of non oil trade between the two countries was AED 64.8 billion ($17.65bn)
- The trade exchange between the two countries in the first half of 2022 totaled AED65.7 billion ($17.9bn)
Business
Dana Gas to pay $85m H1 dividend
The dividend of 4.5 fils per share will be paid by 21 Oct.
- The company posted a net profit of $111 million in the first six months of the year, an 82 percent increase compared to an adjusted net profit in H1 2021.
- The company’s profitability in the first half of 2022 was driven by elevated hydrocarbon prices,
Business
Xiamen Airlines to buy aircraft
The airline plans to buy 40 A320neo aircraft from Airbus.
- The airline, based in the southeastern city of Xiamen has until now had exclusively Boeing aircraft in its fleet.
- While weakened by the pandemic, airlines around the world are preparing for an expected doubling of air travel in the next two decades.
Business
Dubai records realty transactions worth $299 million Thursday
Dubai, UAE-- Dubai real estate market recorded realty transactions worth AED1.1 billion ($299 million) on Thursday, Dubai Land Department said....
- The deals included 371 sales transactions worth AED825.36 million, in addition to 81 mortgage deals of AED231.57 million, and 18 gift deals amounting to AED48.1 million.
- The sales included 334 villas and apartments worth AED626.55 million, and 37 land plots worth AED198.81 million.
Geostrategy
‘Hungary wants EU sanctions on Russia lifted by year end’
Hungarian Prime Minister Viktor Orban wants EU sanctions on Russia over its invasion of Ukraine lifted by year end, a...
- Hungary is highly dependent on Russian oil and gas and Budapest has already secured an exemption from sanctions on Russian crude oil imports via pipelines.
- EU foreign ministers held an emergency meeting to discuss after Moscow mobilized reservists for its war in Ukraine.
Business
Value of building permits issued by Sharjah Municipality hits $2.54 bn
Sharjah, UAE--The contractual value of building permits issued by Sharjah Municipality grew to AED9.344 billion ($2.54 billion) in H1, while...
- The value of building permits for which certificates of completion were issued reached AED3.263 billion.
- Building Permits Department has completed 1,824 applications for accrediting engineering plans, and issued 1,265 building permits.
Geostrategy
UAE, Jordan ink pact to standardize specifications
The UAE Ministry of Industry and Advanced Technology (MoIAT) signed a Memorandum of Understanding (MoU) with the Jordan Standards and...
- The agreement aims to facilitate industrial, trade and economic growth in both the UAE and Jordan.
- The pact encourages cooperation in conformity assessment procedures for non-food and non-pharmaceutical industrial products.
Business
Saudi Education Minister meets founder of edX platform in US
Saudi Arabia's Minister of Education Dr. Hamad bin Mohammed Al AlSheikh has met with the leaders of edX platform at...
- The minister met the platform's founder to discuss ways to promote cooperation in the online education and e-training industry,
- The two discussed ways to develop a partnership between the National Center for E-Learning FutureX and the edX platform.
Business
UN succeeds in raising US$75m to salvage oil tanker off Yemen
The decaying 45-year-old FSO Safer, long used as a floating storage platform and now abandoned off the rebel-held Yemeni port...
- UN officials last month warned that the ship was a ticking environmental time bomb requiring immediate action
- It warned a spill could destroy ecosystems, shut down the fishing industry and close the lifeline Hodeida port for six months
Business
Saudi Steel lands contract
It won a $40 million contract from Aramco to supply pipes.
- Saudi Steel Pipe Co. said, in a bourse filing, that it expects to see financial impact from its new order in the second and third quarters of 2023
- The pipe producer, in May, signed a 10-month contract worth $25.86 million with Saudi Aramco to supply the latter with oil and gas steel pipes
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Jordan exports pharmaceutical products worth US$874m in 2023
AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...
Business
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Saudi EXIM Bank signs deals with African banks and institutions worth $185m
Riyadh, Saudi Arabia - Saudi EXIM Bank has signed multiple agreements and memoranda of understanding (MoUs) with African banks and...
Business
Saudi Arabia sets ambitious goals for mining sector
"We have begun discussions with 80 countries participating in the mining sector. ... An international platform has been established in...
Business
EDGE buys 50% stake in Flaris, marking strategic expansion into aviation technology
Abu Dhabi, UAE -- The UAE’s EDGE Group, one of the world’s leading advanced technology and defence groups, has announced...
Business
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Business
DEWA Q3 2023 revenue $2.5bn
The revenue was driven by demand for electricity, water.
- For January-September 2023, DEWA’s consolidated revenue totalled US$6 billion with an operating profit of US$1.8 billion.
- By the end of Q3 2023, DEWA’s net cash from operating activities increased by a robust US$205 million to US$2.6 billion.
Business
Japan to invest $13 billion on semiconductors and generative AI
Tokyo, Japan - Japan's government said on Friday that it plans to spend 2 trillion yen ($13 billion) to boost domestic...
- The planned outlays will include 700 billion yen ($4.6 billion) to support the construction of a Taiwan Semiconductor Manufacturing Company (TSMC) plant in Kumamoto.
- Japanese trade ministry said the government will also spend 650 billion yen ($4.3 billion) to support Japanese startup Rapidus, which aims to develop next generation microchips.
Business
Dubai’s weeklong real estate transactions exceed AED10.3bn
Dubai, UAE -- The total value of real estate transactions conducted in Dubai during the week ending 10 November 2023,...
- The DLD report showed that 1,782 sales transactions worth AED7.4 billion were conducted, with 396 plots sold for AED3.99 billion.
- The total value of mortgaged properties for the week reached AED1.86 billion. A total of142 properties were granted between first-degree relatives worth AED1 billion.