Gulf aviation industry sets sky-high standards
"The demand from certain sectors indicates a strong interest in First Class, prompting us to introduce a newly-designed First Class...
Business
Vodafone sells Italian unit to Swisscom
British telecoms giant sold the business for US$8.7 billion.
Business
Business
ADDED grants lease contract exemption for one year to 1,200 actiivities
A total of 1,200 economic activities have been granted one-year exemption from a lease contract for work premises as a...
- The economic activities included in this initiative represent 29.5 percent of total economic activities licensed and regulated by ADDED, which reached 4,062 by the end of 2021.
- ADDED said it has launched many initiatives to ensure ease of doing business, including slashing business set-up and renewal fees by over 94 percent.
Business
‘Jordan’s industries have potential to access Algerian market’
Jordan's industrial goods have a great opportunity to gain a foothold in the Algerian market, president of the Jordan and...
- Leather, textile, medical supplies, chemicals, food, agricultural and livestock industries can access the Algerian market
- There is a need for opening a direct maritime transport route between Jordan and Algeria
Business
Shell joins Qatar gas project
Shell is the fifth and final international partner in the North Field expansion.
- The British-based company took a 6.25 percent stake for an undisclosed sum, joining TotalEnergies, Eni, ConocoPhillips and ExxonMobil in the North Field East project.
- The North Field expansion is the biggest liquefied natural gas (LNG) project ever seen, Qatar Energy said. It comes at a time of intense geopolitical tensions over energy supplies.
Business
Tadawul launches single-stock futures trading
Tadawul has posted more than 30 trades in single-stock futures on its launch as Aramco and Saudi Telecom Co. led...
- Aramco futures logged a trading volume of 20 so far with a value of SR76,200 ($20,304), while stc posted 10 trades worth SR97,700
- The launch of single-stock futures as Tadawul’s second derivatives product — after launching index futures in 2020 — comes amid efforts to bolster liquidity
Business
Qatar has a new fixation: eSports
World Cup host Qatar doesn't just have its sights set on football -- it also hopes to harness its people's...
- A digital army is at the ready in the gas-rich emirate, where many "majlis" rooms -- communal gathering places attached to homes -- have long doubled as video game hubs for friends
- Samha is head of eSports projects at Virtuocity, Qatar's first dedicated gaming complex which was set up in 2019
Business
Dragon Oil extends Turkmenistan contract for 10 more years
The Cheleken complex, located in the East Caspian Sea in Turkmenistan, is the main producing asset of Dragon Oil.
- The Cheleken complex, located in the East Caspian Sea in Turkmenistan, is the main producing asset of Dragon Oil
- Over the past decade, Dragon Oil has evolved from a single-origin oil and gas company operating in Turkmenistan only, to a global operator
Business
ADDED, GE Digital to fast-track digital shift in Abu Dhabi’s manufacturing sector
ADDED and GE Digital will collaborate to adopt circular economy strategies “to drive a more productive, competitive, advanced, and innovative...
- ADDED and GE Digital will collaborate to adopt circular economy strategies “to drive a more productive, competitive, advanced, and innovative sector.”
- The UAE’s manufacturing sector plays a pivotal role in the diversification of the national economy, with Abu Dhabi accounting for 40 percent of that
Business
Israel PM to seek French intervention in gas row with Lebanon
Israeli Prime Minister Yair Lapid makes his first foreign trip as premier on Tuesday to Paris, where he will ask...
- Lebanon rejects Israel's claim that the Karish gas field lies within its territorial waters
- Lapid took over the premiership on Friday following the collapse of Israel's coalition government
Business
Innovest of KSA exits Misk Tarout
The Saudi firm earned $8m in profit in the last three months.
- The Alkhobar-based real estate firm confirmed its profit from the exit process will be calculated in the company’s financial statements for the second quarter of 2022
- The exit will also enhance its direction in implementing targeted profitability and growth plans, CEO Essam Bukhamseen said
Business
Mecca businesses see hajj boom ending pandemic slump
Two years of drastic restrictions on the number of pilgrims emptied shops and hotels across the Saudi Arabian city of...
- Two years of drastic restrictions on the number of pilgrims emptied shops and hotels across the Saudi Arabian city of Mecca
- Haj and Umrah generate about $12 billion (11.5 billion euros) annually, keeping the economy humming in Mecca
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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
Gulf aviation industry sets sky-high standards
"The demand from certain sectors indicates a strong interest in First Class, prompting us to introduce a newly-designed First Class...
Business
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Huawei H1 revenue at US$43.3bn
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ADNIC net profit $55.64m
Business
Qatar signs 27-year gas deal with UK’s Shell
Last year Shell inked a deal with QatarEnergy for a 9.4% stake in Qatar's North Field South project, the second...
Business
ADNOC Gas inks $500-700m LNG supply pact with JERA Global Markets
Abu Dhabi, UAE - ADNOC Gas on Wednesday announced a multi-year liquified natural gas (LNG) supply agreement, valued between $500...
Business
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Business
Moro Hub and DDA sign MoU to safeguard Dubai’s information assets
Dubai, UAE--Moro Hub, the digital arm of DEWA, has signed a memorandum of understanding (MoU) with Digital Dubai Authority (DDA)...
- According to the terms of the agreement, Moro Hub will extend its cyber security services to safeguard Dubai's government entities' information assets and systems
- The collaboration between Moro Hub and DDA will play a pivotal role in ensuring that Dubai remains at the forefront of secure and sustainable smart city initiatives
Business
Emirati investments in Turkey reach $5.6 billion in 2022
ABU DHABI, UAE – Ahmet Burak Daglioglu, Head of the Investment Office of the Turkish Presidency, said that the cumulative...
- UAE currently stands as Turkey's 13th largest trade partner for exports and the 15th largest for imports.
- From 2014 to 2022, the total foreign direct investment from Turkey to the UAE amounted to approximately $1.1 billion
Market Report
Markets fall as Biden set for Middle East diplomacy drive
US and European stock markets mostly fell and oil prices rose as US President Joe Biden prepared for a trip...
- Wall Street opened in the red, with the tech-heavy Nasdaq shedding more than one percent, while Frankfurt and Paris fell 0.6 percent afternoon deal.
- "Understandably, not many people are in the mood to put their hard-earned cash at risk in these uncertain economic times," said an expert.