Honda and Nissan expected to begin merger talks
Honda and Nissan were poised Monday to announce the start of talks on a merger to help the Japanese giants...
Saudi Arabia partners with World Bank to launch global knowledge hub in RiyadhÂ
According to World Bank Group President Ajay Banga, “The new Knowledge Hub being created by the World Bank Group and...
Business
Economy
WGES 2022 to encourage investment in green projects
The 8th World Green Economy Summit (WGES), to be held in Dubai, will focus on developing investment partnerships in green...
- In WGES 2022 several heads of states and governments, experts from government and non-government sectors would participate.
- The summit would enable finding innovative solutions and financial tools that promote clean and renewable energy projects and sustain growth
Business
JODC posts increase in revenue
High pilgrim traffic caused revenue to go up to $104.34m.
- Its gross profit rose 152.9 percent to $19.06 million in H1, as against the loss of $36.05 million in the same period of last year
- The company expects the increased traffic of pilgrims to sustain for the rest of the year as there remains pent-up solid demand for pilgrims, both domestic and international
Business
Emaar to sell Namshi to Noon
The Dubai developer will sell its online retailer for $335.2m.
- The Department of Economic Development has revealed that e-commerce licenses issued by the emirate jumped 63 per cent in the first half of 2021
- During the last two years of the Covid Pandemic, online buying in the UAE has taken a big leap in growth, with Amazon alone recording net sales of about $500m in 2021
Business
Art market persists with crypto romance
NFT artworks accounted for some $2.8 billion in sales last year and the rate has declined only slightly in the...
- Thirteen Italian museums recently signed deals with Cinello, a firm that sells limited edition digital reproductions, to offer ownership of digital replicas of masterworks
- Cinello said it had digitized more than 200 works and its sales had generated 296,000 euros in extra revenue for Italian museums
Business
Jordan and Algeria agree to boost trade, investment ties
Many Jordanian industrial sectors have the necessary requirements to enter the Algerian market, especially the pharmaceutical components, clothing, chemical and...
- The business groups also agreed to have more meetings and visits in order to assess investment opportunities
- According to official data, the kingdom's exports to Algeria in 2020 amounted to $94 million, compared to about $125 million in imports
Opinion
More firms opt for M&As amidst financial distress
As money starts to dry up and subsequent funding rounds get more precarious, companies are expected to experience more acute...
- The rapid rise in high-velocity M&A interest over the last months is driven by the inherent uncertainty surrounding the global economy and markets
- Deal makers see a great window of opportunity but also understand this window could be fleeting, writes Victor Basta, Co-Head of DAI Magister
Business
Aramco to complete $2.65bn buyout of Valvoline in 2023
Days after disclosing it had signed a $2.65 billion equity purchase agreement with Valvoline Global Products, Mohammed Y. Al-Qahtani, Aramco’s...
- Mohammed Y. Al-Qahtani said that Valvoline and Aramco will expand their existing partnership to ensure that 'Valvoline’s brand is managed in a consistent and holistic manner'
- He noted that VGP will acquire perpetual ownership of the Valvoline brand, trademarks and copyrights in the products sector
Market Report
Conflicts, inflation keep GCC markets on their toes
Though GCC markets witnessed an IPOs rush in the first half of 2022 due to the rising investment interest, the...
- Though GCC markets witnessed an IPOs rush in the first half of 2022 due to the rising investment interest, the future is not comforting for the rest of the year, says an expert
- Due to the volatility of international conditions, GCC stock markets may continue to fluctuate for the rest of 2022, adds Wael Makarem, Sr Market Strategist – MENA at Exness
Market Report
Saudi, Emirati stocks end the week in red
Despite a 3.9 percent increase in the food and beverage sector and a generally mixed week for the Saudi Stock...
- The general index of the Saudi stock market "TASI" ended Thursday's trading down 0.2 percent, or 25.01 points.
- The index was down 0.3 percent, while three sectors on the Dubai Stock Exchange were down 0.93 percent, with banks leading the decline.
Research
Saudi Arabia advances in education competitiveness index
The Kingdom of Saudi Arabia has progressed in the education, research, and innovation indicators per the World Competitiveness Yearbook 2022...
- The Kingdom’s ranking jumped to the 24th position in the report, compared to 32 in 2021.
- The Kingdom advanced two steps in the scientific infrastructure indicator, garnering the 30th position this year compared to 32nd position in 2021.
Honda and Nissan expected to begin merger talks
Honda and Nissan were poised Monday to announce the start of talks on a merger to help the Japanese giants...
Company News
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
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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.
Business
Reforms accelerate positive gender equality in MENA
"We are working towards creating a more balanced environment where women can succeed alongside men in overcoming future challenges. There...
- Sheikha Hessa Saad Al-Abdullah Al-Sabah, Chairwoman of the Council of Arab Businesswomen, emphasized the need for women's economic empowerment and increased opportunities
- Sheikha Hessa highlights the importance of collaboration for achieving workplace gender equality and the role of women in achieving the UN's 2030 Sustainable Development Goals.