Xiaomi announces release date for EV
It will be its first foray into the electric vehicle sector.
Business
Business
Abu Dhabi bourse records highest trading value in Arab markets: AMF
Abu Dhabi Securities Exchange (ADX) recorded the highest increase in trading value among Arab financial markets in May 2022 at...
- IPOs have boosted the performances of Arab financial markets in May 2022, increasing the value of overall trading to nearly $107.22 billion.
- The Beirut Stock Exchange topped Arab exchanges in terms of market capitalization gains with an increase of 39.50 percent.
Economy
FAO predicts increase in global food bill in 2022
FAO predicts the global food import bill would rise by $51 billion compared to 2021, of which $49 billion would...
- FAO says global food import bill may reach a new record of $1.8 trillion in 2022
- It says global production of main cereals would decline in 2022 for the first time in four years
Economy
Abu Dhabi, China’s Shandong to enhance cooperation
Abu Dhabi, China’s Shandong agree to work towards boosting investment opportunities
- The MoU aims to enhance industrial cooperation, facilitate delegation visits, investor meetings
- It seeks to organize entrepreneurship, management consultancy training programs between companies
Business
Chinese firm bags $974m Madinah tunnel project
Saudi Arabia has awarded the building of a five-kilometer-long tunnel in the city of Madinah to a Chinese construction firm,...
- Canada’s WSP and US-based Parsons are among consultants working on the project while Rua al-Madinah Holding is the client
- Al-Amida road will serve as an alternative to the current ring road, through expanding the roadway to six lanes
Business
DMCC and Brooklyn Chamber of Commerce sign pact to promote trade
Dubai Multi Commodities Centre and Brooklyn Chamber of Commerce have signed an agreement to work together to promote trade and...
- DMCC will work with the Brooklyn Chamber to support New York-based businesses in setting up their operations in Dubai.
- Similarly, the partnership will look to facilitate the expansion of DMCC's member companies into the US market.
Business
UAE and European Union look to deepen cooperation
The UAE and European Union are looking to deepen cooperation in many fields, and in particular in sub-Saharan Africa. In...
- The two sides discussed political priorities and related programs, including the UN Sustainable Development Goals, the European Green Deal and global recovery
- They also discussed the latest economic and trade developments in Africa and a number of essential issues in the continent
Business
Savola Foods buys Egybelg
The Saudi firm plans to invest $91m in Egypt.
- Savola will allocate 730 million pounds toward rehabilitating the newly acquired firm and up to 400 million pounds to upgrade factories and raise production capacity
- With three factories across Egypt and five production lines, Cairo-based Egybelg manufactures and distributes bakery goods
Business
European equities retreat before US inflation data
European stock markets retreated at the open Friday following losses in Tokyo, with all eyes on US inflation data and...
- In the eurozone, Frankfurt's DAX index shed 0.7 percent to 14,103.61 points and the Paris CAC 40 lost 0.7 percent to 6,315.39
- Economists warn that surging inflation, driven by soaring energy prices, could push top economies into recession
Economy
UAE’s trade surplus with GCC countries at Dh135 bn in 2021
The figures showed a 26 percent increase in trade between the UAE and GCC countries in 2021.
- The figures showed a 26 percent increase in trade between the UAE and GCC countries in 2021
- UAE imports from GCC countries in 2021 rose in value to AED56.3 billion, weighing 27.9 million tonnes
Economy
Sustainability meets affordability at smart UAE homes
With proliferation of smart home technology and advanced Wi-Fi connectivity, a smart home is achievable to anyone, says Sharjah Sustainable...
- With proliferation of smart home technology and advanced Wi-Fi connectivity, a smart home is achievable to anyone, says Sharjah Sustainable City CEO Yousif Ahmed Al-Mutawa
- The UAE is proactively embracing digital technologies to promote sustainability and ensure that GCC remains well-positioned to evolve into a power-packed digital economy
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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
Company News
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e& H1 net profit $1.27bn
Business
Ooredoo Algeria gets new CEO
Business
Saudi Arabia, India ink MoU on electrical interconnectivity, green hydrogen
RIYADH, SAUDI ARABIA - India and Saudi Arabia signed a Memorandum of Understanding (MoU) here in electrical interconnection, green/clean hydrogen,...
Geostrategy
Saudi Arabia Railways launches hydrogen train tests
Riyadh, Saudi Arabia -- Saudi Arabia Railways (SAR) has announced the launch of hydrogen train tests in the Kingdom, following...
Business
Hotels in UAE generate revenues of US$7bn in first seven months, says minister
ABU DHABI, UAE - In the first seven months of the year, hotel establishments in the UAE generated revenues of...
Business
Most Read
Economy
In a world first, EU gives nod to green bond standards
Brussels, Belgium - European Parliament has adopted a new voluntary standard for the use of a “European Green Bond” label, the...
- The regulation, adopted by 418 votes in favour lays down uniform standards for issuers who wish to use the designation ‘European green bond’
- The standards will enable investors to direct their money more confidently towards more sustainable technologies and businesses
Economy
Qatar Chamber forms two committees to develop insurance sector
Doha, Qatar - The Qatar Chamber (QC) has established two technical teams to further develop the country’s insurance sector. One...
- The committees were formed during a meeting of the chamber’s insurance committee on Saturday
- One of the committees specializes in legal and services, and another in the financial and IT fields
Economy
UAE and Kyrgyzstan to boost renewable energy, transportation ties
Bishkek, Kyrgyzstan--The UAE and Kyrgyzstan have discussed mechanisms to enhance joint cooperation in various fields, especially renewable energy, transportation, and...
- Al Mazrouei headed a large delegation to the Central Asian country to explore opportunities to enhance cooperation between the two countries in all fields
- The talks with Kyrgyz president focused on mechanisms to enhance joint cooperation in various fields, especially renewable energy, transportation, and logistics services