Business
World’s biggest chocolate plant restarts after scare
The plant, which supplies industry giants such as Hershey but not to consumers directly, was shut down after salmonella bacteria...
- Zurich-based Barry Callebaut said it halted shipments and informed clients in time to prevent contaminated chocolate making its way to shops.
- It identified lecithin, added to smooth food textures, as the source of the contamination, prompting weeks of extensive cleaning.
Economy
UAE foreign ministry, ECI sign MoU to promote trade, investment
The Ministry of Foreign Affairs and International Corporation (MoFAIC) and Etihad Credit Insurance (ECI), the UAE's federal export credit company,...
- MoFAIC and ECI agree to work together to position the UAE as an ideal destination for trade and investment
- They will highlight the UAE's stable and secure environment, investor-friendly legislation and advanced trade finance infrastructure
Economy
Tie-ups with UAE helps boost Indian farm exports by 31 percent
Buyer-seller meets in the UAE on agricultural and food products with registered geographical indication (GI) tags, a week-long mango festival...
- Buyer-seller meets in the UAE on agricultural, food products with registered geographical indication tags helped boost India's exports
- A week-long mango festival in Bahrain, and an international buyer-seller meet in Ladakh attended by buyers from Dubai and Oman also helped
Economy
UAE issues new guidelines for real estate transactions
The Ministry of Economy (MoE) and the Ministry of Justice (MoJ), in partnership with the UAE Financial Intelligence Unit (FIU),...
- The move will help the UAE’s sustainable, evolving approach to the global fight against money laundering and terrorist financing
- The decision was made following multiple meetings and discussions among the MoE, MoJ, FIU, and other competent authorities in the UAE
Business
Jordan real estate trade grows by 20% to $4.41 billion
Jordan has posted a twenty percent rise in real estate trade to $4.41 billion during the first seven months of...
- Jordan's revenue from the real estate market stood at $200 million in the January-July period of 2022, a 33-percent increase from the figure reported in 2021
- In July alone the trade volume went up by 40 percent, touching $695 million
Business
Jordan cabinet meeting debates implementation of reform plan
A cabinet meeting in Jordan discussed ways of implementing the "roadmap" in accordance with the time frame set by the...
- Nasser Shraideh, the Minister of Planning and International Cooperation, briefed the Cabinet on the proposed work methods and mechanisms for implementing the roadmap
- The Cabinet endorsed the Industry Support and Development Fund Regulations for 2022 that would establish the Support and Development of Industry
Business
QAMCO profit rises by 112%
The company's net profit rose to $164 million in H1 of 2022.
- The company's earnings per share (EPS) amounted to QR 0.110 as of June 30 this year as against QR 0.052 for the same period in 2021
- QAMCO, a Qatari Public Shareholding Company, capital amounts to $1.60 billion
Business
Dubai to be pitched as global hub for creative economy
The agreement between the two will see them both offering services to help set up new businesses in creative economy...
- The partnership will aim to double the creative industries’ contribution to Dubai’s GDP to five percent
- It will provide creative businesses with special incentives, such as creative activities, logistics, consultation, banking solutions and services
Business
Retaining customers rattles retailers as sales drop
From optimizing the purchasing ecosystem to driving personalization and developing schemes that help consumers with finance management, retailers must work...
- From optimizing the purchasing ecosystem to driving personalization and developing schemes that help consumers with finance management, retailers must work harder
- During the pandemic, nearly 40 percent switched brands or retailers, and more than 80 percent developed new shopping habits, says a recent McKinsey study
Business
Dubai Digital Assets Business Group formed to promote digital assets growth
Dubai Chamber of Digital Economy, one of three chambers operating under the umbrella of Dubai Chambers, has announced the formation...
- The key objectives of the new business group include promoting the digital asset industry in Dubai, boost transparency through market intelligence and data.
- The group provides an ideal platform for companies operating in the digital asset sphere to unify their voices, said Omar bin Sultan Al Olama.
Most Read
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
Company News
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Vietnam’s VNG files for US IPO
Business
PIF to reveal complementary auto projects soon, says top official
Riyadh, Saudi Arabia -- The Public Investment Fund will soon announce complementary projects for the automobile industry, mainly batteries, said...
Business
Air France-KLM posts profit jump
Turnover increased nearly seven percent to 8.7 billion euros.
Most Read
Apple Watch models face US import ban in patent clash
Apple has been steadily ramping up fitness and health features with each generation of Apple Watch, which market trackers say...
- US International Trade Commission issued a "limited exclusion order" set to go into effect in 60 days if not nixed by President Joe Biden, according to California-based Masimo
- The order stemmed from a complaint made to the commission in mid-2021 accusing Apple Watch of infringing on its patented technology for "light-based oximetry functionality
Geostrategy
Hamas says 50 hostages dead in Israeli strikes on Gaza
Jerusalem - Hamas's armed wing said on Thursday that "almost 50" Israeli hostages held in the Gaza Strip since the...
- Earlier, the Israeli army said 224 people were abducted by militants during the attack that left 1,400 people, mostly civilians, dead.
- "We have informed the families of 224 hostages. This number is changing based on the intelligence we obtain," military spokesman Daniel Hagari said
Business
Positive trial for Pfizer-BioNTech Covid-flu jab
Berlin, Germany - Germany's BioNTech and US pharmaceutical giant Pfizer on Thursday announced "positive" results from initial trials of their combined...
- The messenger RNA method made its debut with the Pfizer-BioNTech coronavirus vaccine, which was the first jab against Covid to be approved in the West in late 2020
- Pfizer and BioNTech first announced in November 2022 that they were planning to use the same technology to develop a combined Covid and flu vaccine