UAE’s e-commerce sector projected to earn $9bn revenue in 2024
Dubai, UAE - The UAE's online shopping market is gearing up for unprecedented growth, with revenue projections hitting $9 billion...
Business
Non-Jordanian investors own 47% of ASE market value as of February 2024
AMMAN, JORDAN – Data released by the Amman Stock Exchange reveals that non-Jordanian investors bought shares worth US$12.5 million (JD8.9...
Market Report
Business
Deals worth $6.8m signed in Gulf Print and Pack 2022
Deals worth over AED 25 million ($6.8m) were signed in the Gulf Print and Pack 2022 event (GPP) held at...
- Sales of machinery and equipment were the biggest contributors to the total
- Vinsak and Heidelberg were the other exhibitors that confirmed making substantial sales
Business
Menarini opens office in Dubai
The Italian pharma giant is looking at expansion in MENA.
- Specializing in pharma research and production, consumer healthcare, oncology and diagnostics, the move is part of the group’s planned expansion into the Middle East and Africa
- The CEO of Menarini said the company could contribute to the country's 'visionary strategy'
Interview
With $22bn in bilateral trade, UAE-US economic ties set to grow
The UAE and US economic ties are expected to grow in healthcare, energy sustainability, space, and digital economy, with the...
- The US exports to the UAE touched $16.7 billion last year
- Sebright said that the Business Council has been promoting the partnerships between the US and the UAE in space since day one of the UAE’s nascent space exploration program
Business
Wall Street stocks rally first time in two months as inflation dips
Wall Street stocks rallied Friday following signs of moderating inflation, finishing with weekly gains for the first time in about...
- The Dow Jones Industrial Average climbed 1.8 percent, or about 575 points, to 33,212.96, a weekly increase of 6.2 percent
- Friday's gains extend a rally that began Wednesday, reversing the battering stocks have encountered most of the year
Economy
UAE’s non-oil foreign trade surged to Dh527.5b in Q1-22
The minister added that the UAE's exports grew around 18 percent YoY to AED91 billion by end of Q1-22, noting...
- The minister added that the UAE's exports grew around 18 percent YoY to AED91 billion by end of Q1-22, noting that exports have doubled over the past five years
- Dr. Al Zeyoudi explained that the UAE's non-oil imports grew 25 percent during Q1-22 to AED292 billion, with re-exports hitting AED144 billion
Business
ADC to start trading on ADX
The firm was established by ADQ and Chimera Investment.
- Trading follows the conclusion of ADC's public subscription to retail and professional investors
- The listing of ADC offers target businesses the opportunity to access capital in Abu Dhabi's capital markets
Business
Dubai records $2.36 billion in weeklong real estate transactions
Dubai has recorded 2,884 real estate and properties transactions at the value of AED8.7 billion ($2.36 billion) in total during...
- Dubai Land Department said that 297 plots were sold for AED1.59 billion, as well as 2,116 apartments and villas for AED4.75 billion.
- The total value of mortgaged properties for the week reached AED2.02 billion and 89 properties were granted between first-degree relatives worth AED413 million.
Business
Gulf Print and Pack 2022 concludes, records deals worth $6.8m
The Gulf Print and Pack (GPP) 2022 concluded at the Dubai World Trade Centre, recording deals worth more than AED...
- GPP organisers said the decision to move from a four-day show in past editions to a three-day event in 2022 was vindicated with daily attendance increasing by 15 percent.
- Sales of machinery and equipment were the biggest contributors to the total, with Canon closing over $2.5 million in sales and Kodak reporting in excess of $1 million.
Business
Al Seer buys two new ships
The firm, a subsidiary of IHC, acquired the vessels for AED246m.
- The company, which is pursuing an expansion strategy to become a major world leader in commercial shipping, is looking to buy up to 15 ships in 2022
- In its latest transaction, Al Seer Marine has purchased LPG tankers, MT Alcor and MT Alkaid, each with a capacity of 20,700 cubic meters
Business
Saudi football coach signs new deal after World Cup success
Saudi Arabia's coach Herve Renard has signed a new five-year deal after guiding the team to this year's World Cup...
- The Frenchman was shown signing a shirt with the number "2027" in a video posted by the official Twitter account of the Saudi national team
- Saudi Arabia reached their sixth World Cup and second in a row with room to spare after finishing top of their qualifying group ahead of Japan and Australia
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UAE’s e-commerce sector projected to earn $9bn revenue in 2024
Dubai, UAE - The UAE's online shopping market is gearing up for unprecedented growth, with revenue projections hitting $9 billion...
Business
Company News
SAB H1 profit up 59%
Business
Borouge Q2 net profit $231m
Business
Latest News
flynas adds 5 Airbus A320neo, total fleet now 56
Riyadh, Saudi Arabia – Saudi “flynas” airline announced the delivery of five A320neo aircraft to increase its all-Airbus fleet to...
Business
Adnoc and Occidental sign deal
They will conduct a study to build a direct air-capture facility.
Business
Miss Universe Bahrain and Pakistan promote halal and wellness tourism in Philippines
Dubai, UAE - : Recently crowned Miss Universe Queens Miss Universe Bahrain 2023 Lujane Yacoub and Miss Universe Pakistan 2023...
Business
Most Read
Business
Rise in EVs drives Middle East toward greener future
A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth...
- A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth TRENDS report reveals.
- With global EV sales hitting significant milestones and the UAE setting ambitious green targets, the future of transportation is looking increasingly electric
Business
Rise in EVs drives Middle East toward greener future
A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth...
- A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth TRENDS report reveals.
- With global EV sales hitting significant milestones and the UAE setting ambitious green targets, the future of transportation is looking increasingly electric
Business
Geopolitical changes derailed shift towards green energy, says IMF
Washington, US - Growing geopolitical fragmentation since the invasion of Ukraine has hit commodity markets, threatening to slow the transition to...
- IMF economists said trade disruptions could lower investment in renewable energy and electric vehicles by almost 30 percent till 2030
- It said further geopolitical fragmentation could lead to "turmoil" in the commodity markets, causing long-term economic losses