Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
Business
ADCB approves cash dividends worth US$1.1bn
ABU DHABI, UAE – Abu Dhabi Commercial Bank (ADCB) has approved the Board of Directors proposal to distribute a cash...
Business
Business
Dubai Airport retains position as world’s busiest
The Airport Show, the world’s largest annual airport event, was opened by Sheikh Ahmed bin Saeed Al Maktoum, President of...
- The Airport Show, the world’s largest annual airport event, was opened by Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority
- The future projects at the airport include Unmanned Traffic Management, Scheduled UA operations, Night Operations, Multiple Unmanned Aircraft Operations among others
Business
CB of Kuwait to digitize
The bank CEO said robots will play a major role in the future.
- CBK is the only bank to have SwatchPAY, which is a smart-watch payment service, she informed.
- Mahfouz said that one of the things that stood out to her as a woman working in the banking sector was getting more support from males than females.
Business
Musk says no Twitter deal without clarity on spam accounts
Billionaire Elon Musk said Tuesday his bid to buy Twitter won't proceed unless he gets proof of the number of...
- This latest twist to his $44 billion move to acquire the key platform sparked speculation over whether the world's richest person was trying to shrink the price tag
- Musk last week tweeted his bid for the company was "temporarily on hold," pending questions over its estimates of the number of fake accounts, or bots
Economy
Stocks recover as Shanghai set to ease lockdown, reopen business
The impact of Beijing's zero-Covid strategy on the world's second-largest economy was revealed Monday when official data showed that retail...
- Much of the city of 25 million has been under lockdown since April as Beijing attempts to stamp out an Omicron-fueled virus surge.
- Tuesday's rally coincides with the third day in a row that Shanghai has recorded no Covid-19 cases outside of its quarantine facilities.
Business
Julphar Q1 sales up by 156 percent
Acquisition of Planet Pharmacies and growth in segment ops led to growth.
- Gross profit margin increased to 41 percent compared to 28 percent in the previous year.
- EBITDA from continuing operations increased to AED40 million in Q1 2022.
Geostrategy
Russia may cut gas supplies to Finland over Ruble payment refusal
Russia may cut gas supplies to Finland soon over the Nordic country's refusal to pay Gazprom in rubles, Finnish state-owned...
- On Sunday, Russia suspended electricity supplies to Finland overnight after its energy firm RAO Nordic claimed payment arrears.
- Moscow has repeatedly warned Finland that any NATO membership application would be "a grave mistake far reaching consequences".
Business
IHC completes $2bn Adani deal
IHC to provide capital to Adani firms for green energy projects.
- The deal represents 4.87 percent of the total trade between the UAE and India, which has reached $41 billion between 2020 and 2021.
- India's total electricity generating capacity is more than 390GW, and renewables exceed 100 GW.
Business
Morocco, Spain reopen borders after two-year closure
The gates opened shortly after 11:00 pm local time (2200 GMT) on Monday night, letting dozens of cars and queues...
- borders between the two countries were shut due to Covid restrictions and a major diplomatic row
- Local economies in the border areas of two enclaves depend on the crossing of people and goods
Business
GCC IPOs raise $4.8bn in 2022, outpacing Europe
May Nasrallah, founder of deNovo, tells TRENDS the new listings on GCC bourses have spawned a new chapter in regional...
- "IPOs in the Gulf prove resilient to the volatility hurting deals in other markets, such as high oil prices, stable economies, and abundant liquidity fuel activity," she said.
- Recent IPO listings in 2021 include 20 public listings of Saudi companies (9 on Tadawul and 11 on Nomu), like ACWA Power International and Saudi Telecom.
Business
Women empowerment key focus as region eyes growth
Top executives, officials and experts explore ways to strengthen the role of women in regional business dynamics during the TOP...
- The first day of the conference is dedicated to women under the "Arab Women Forum," where conversations will be hosted to explore regional and global business dynamics
- The Top CEO Conference is an open discussion among thought leaders, executives, and senior government officials and its purpose is to bring global issues into a regional context
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Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
Business
Company News
Latest News
Bahrain’s Treasury Bills oversubscribed by 270 percent
MANAMA, BAHRAIN – This week’s US$186 million (BD 70 million) issue of Government Treasury Bills has been oversubscribed by 270...
Economy
Ducab bags 30 major contracts
The contracts were secured in the oil, gas and petrochemical sector.
Business
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Economy
Abu Dhabi’s non-oil economy up by 12.3 percent in second quarter
Statistical estimates published by the Statistical Centre Abu Dhabi said the construction sector grew by 19.1 percent in the second...
- The manufacturing activity grew by 7 percent compared to the same period last year, with the sector recording its highest quarterly value-added since 2014.
- Abu Dhabi's financial sector recorded a robust growth of nearly 30 percent, also its highest growth rate since 2014.
Business
Saudi Arabia issues 162 licenses to companies relocating hqrs to the Kingdom
Riyadh, Saudi Arabia - Saudi Arabia has so far issued 162 regional center licenses to the companies relocating their headquarters...
- The headquarters will operate in strict accordance with Saudi laws, providing crucial support, management, and strategic direction to their branches
- The Ministry of Investment has enacted a mechanism to offer premium residency status to executives working within these regional headquarters
Business
Iran foreign trade posts 4.84% jump to US$54.6bn in last six months
Tehran, Iran-- Iran's foreign trade has registered a 4.84 percent jump to $54.6 billion between March and September this year....
- The exports posted a 29 percent increase in weight and 2.6 percent decline in value compared to last year’s corresponding period
- Some 17.6m tons of goods, valued at $30.4bn, were imported into the country in the first half of the current Iranian calendar year