Software solutions that minimize cost overruns, delays in construction Â
Project management software solutions have emerged as essential tools to streamline construction operations, enhance efficiency, and improve project delivery. They...
Iraq holds its first census in nearly 40 years
The Iraqi census is scheduled for Wednesday and Thursday, and will provide sorely needed up-to-date demographic data for the country...
Business
Non-Arab foreigners invest $4.23bn in UAE stocks since Jan 2022
According to Abu Dhabi and Dubai financial markets, non-Arab foreign investors purchased local stocks worth AED70.27bn from the beginning of...
- The purchases of non-Arab foreign investors in the Dubai Financial Market totaled some AED18.75bn since the start of this year.
- The UAE has been ranked first in the Arab world and 19th globally for its ability to attract foreign direct investment in a report by UNCTAD.
Business
Walmart Q2 revenue $152.9bn
The retail giant sales surged, partly due to inflation.
- Revenues for its second fiscal quarter ending July 31 were $152.9 billion, up 8.4 percent from the year-ago period
- Profits rose 20.4 percent to $5.1 billion, with some of the increase connected to the accounting for an asset sale in Brazil
Geostrategy
Spain PM hopes Europe gas pipeline will soon be ready
Spanish Prime Minister Pedro Sanchez said Tuesday he hopes a gas pipeline linking the Iberian Peninsula to central Europe through...
- Russia has reduced deliveries and nations are scrambling for supplies to avoid a possible shortage this winter, while prices for gas and electricity have soared
- Spain currently has six liquefied natural gas (LNG) terminals for processing deliveries made by huge sea tankers back into gas and injecting them into its pipeline network
Business
Trakhees reports 22 percent H1 growth in commercial licensing business
Dubai’s Department of Planning and Development, Trakhees, the regulatory arm of the Ports, Customs and Free Zone Corporation, has completed...
- The Licensing Department provides corporate licensing services to local and free zones and government bodies including issuing work permits, establishment cards and NOCs.
- The demand for local licensing services by customers, both individuals and companies, to reach 7,067 transactions from January to June of this year.
Business
Iraq to build four free-trade zones, two along Jordan and Saudi borders
Iraq plans to establish free-trade zones adjacent to Baghdad and Najaf airports and another one near the Iraqi-Jordanian border, which...
- Two free zones will be established adjacent to Baghdad and Najaf airports, says Iraq’s Free-Trade Zone Authority
- All the factors necessary for the success of the free industrial, commercial or multi-activity zones exist in the country, it adds
Economy
DEWA alert service reduce 217,370 tons of carbon emissions
Dubai Electricity and Water Authority (DEWA) has announced that its High-Water Usage Alert service has helped to reduce 217,370 tons...
- DEWA's High-Water Usage Alert service sends instant notifications to customers to quickly conduct necessary maintenance to reduce wastage
- These alert services helped identify 1,062,781 water leakage reports, 23,199 defects, and 11,566 cases of increased load
Business
UN ship with grain for Africa sails from Ukraine: ministry
The UN brokered agreement lifted a Russian blockade of Ukraine's ports and established safe corridors through the naval mines laid...
- It is the first ship chartered by the UN World Food Program (WFP) to leave Ukraine since Russia's invasion began in February
- Kyiv and Moscow agreed a deal brokered by the UN and Turkey last month to unblock Black Sea grain deliveries after Russia's invasion
Business
BHP posts 40% jump in profit
The gains were due to high demand for coal and copper.
- The company recorded US$23.8 billion in underlying attributable profit after a busy year in which it completed a merger with petroleum giant Woodside
- BHP chief executive Mike Henry said that the strong results were achieved due to safe and reliable operations, project delivery and capital discipline
Business
Global business travel won’t see full recovery until 2026: report
The Global Business Travel Association now projects business travel will regain its 2019 level of $1.43 trillion in mid-2026, 18...
- recovery was "short-circuited" in late 2021 and early 2022 by the Omicron variant of Covid-19, but that trips surged after that once Covid cases fell
- Major obstacles to a full recovery include high energy prices, labor shortages, Covid lockdowns, regional impacts due to the war in Ukraine and sustainability concerns
Business
Metaverse unrolls new prospects, risks for insurance
Many risks companies face in the real world exist in the metaverse, albeit with a digital twist, requiring insurance players...
- Many risks companies face in the real world exist in the metaverse, albeit with a digital twist, requiring insurance players to come up with a new set of liability policies
- Many metaverse projects feature content creation that may implicate IPR, thereby triggering the same coverages or, potentially, commercial general liability coverage
Software solutions that minimize cost overruns, delays in construction Â
Project management software solutions have emerged as essential tools to streamline construction operations, enhance efficiency, and improve project delivery. They...
Company News
Enbridge inks $14bn pact
Business
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ADCB prices $650m green bond
Business
Saudi Arabia, South Africa sign protocol for import of cattle, sheep and goat meat
Riyadh, Saudi Arabia--The Saudi Food and Drug Authority (SFDA) and South Africa’s Department of Agriculture, Land Reform and Rural Development...
Business
Dubai witnesses green transit revolution
Dubai is actively implementing climate adaptation strategies and technologies in transportation and infrastructure to mitigate climate change effects and enhance...
Business
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
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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...
- The two companies will also establish a joint venture, enabling EDGE to further develop Flaris’ portfolio of jets
- The innovations resulting from this joint venture will be showcased at the upcoming Dubai Airshow 2023
Business
BCCI yet to hear officially about Saudi interest for stakes in IPL
NEW DELHI, INDIA - Recent reports of Saudi Arabia expressing an interest in buying a stake in the Indian Premier League...
- The plan is being seen as another move by the oil-rich kingdom to be the biggest ‘soft power’ in the West Asian region.
- Saudi Arabia is now the sole bidder for the 2036 FIFA World Cup and the Saudi Pro League boasts the crème de la crème of global footballers
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.