DWTC welcomes 2.47m visitors in 2023, says EVP
DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC) Mahir Julfar said that the DWTC's performance in 2023...
Business
UAE stocks see US$1.7bn inflow, IHC, Emaar lead
ABU DHABI, UAE- The UAE stock markets attracted liquidity of nearly AED6.5 billion during the week's trading, with the focus...
Business
Business
GCC businesses need to diversify board members
The percentage of women on boards in corporate houses across the GCC countries is low, Christiane Schloderer, INSEAD Alumni Association's...
- Boards that lack women representation suffer reputational and possibly regulatory issues, says Christiane Schloderer, INSEAD Alumni Association's senior member
- Remuneration and placement committees, headhunters, and chairperson play an important role in appointing women in the key positions, she says
Business
Tokyo stocks open lower after US stocks slide
Tokyo stocks opened lower on Wednesday after US stocks mostly retreated on concerns about growth following a profit warning from...
- The dollar fetched 126.68 yen in early Asian trade, against 126.86 yen in New York on Tuesday
- Sony Group dropped 1.19 percent to 11,235 yen, Hitachi fell 1.22 percent to 6,545 yen, and Fujitsu was off 1.45 percent at 19,330 yen
Business
Energy, technology and finance lead Gulf IPOs
Energy, utilities and natural resources account for 42% of the total IPO proceeds, TMT 27% and financial services 21%, Odin...
- Overall, equities in GCC capital markets performed well, with deal volume and valuation up 369 percent in 2021 compared to 2020, bringing in $7.7 billion in new money.Â
- Energy, Utilities and Natural Resources accounted for 42 percent of the total IPO proceeds, TMT 27 percent and financial services 21 percent.
Business
ADNOC partners with BP, Masdar
The three firms will create green hydrogen and sustainable aviation fuel.
- ADNOC and BP will begin the design phase of the H2Teesside low-carbon hydrogen project.
- Cooperation agreements related to BP's HyGreen Teesside, a large-scale green hydrogen production facility in UK.
Business
UAE firm inks airport deal as Afghanistan eyes international flights
A United Arab Emirates company signed a contract with the Taliban authorities Tuesday to provide ground handling services at Afghanistan's...
- UAE firm GAAC, which was previously operating in Afghanistan, signed a new 18-month contract covering three airports: Kabul, Kandahar and Herat.
- GAAC has provided ground handling services at Kabul airport since November 2020, and played a key role in rehabilitating the facility in August.
Business
Standard Chartered, flydubai sign deal
The Sale and Leaseback (SLB) agreement is for five new Boeing 737 MAX aircraft.
- Four of the aircraft were delivered between March and May 2022, while the remaining aircraft is scheduled to arrive from Boeing before the end of the first half of the year.
- The deal was structured, financed and arranged exclusively by Standard Chartered.
Business
Dubai records $386 million in real estate transactions on Monday
Dubai real estate market recorded 552 sales transactions worth AED 1.42 billion ($386 million) and 78 mortgage deals of AED...
- The sales included 427 villas and apartments worth AED 878.57 million, and 125 land plots worth AED 540.79 million.
- The emirate's real estate market recorded the highest number of transactions since 2010 registered in a single quarter and the highest volume since Q1 2014.
Economy
To use rather than collect, the second coming of Non-Fungible Tokens
The non-fungible token (NFT) craze, just over a year old, has given the world works that have sold for millions...
- Tens of billions of dollars have been poured into digital assets market, while also provoking discussions about how they could be useful in the real world.
- Regardless, NFTs, in conjunction with growing interest in the metaverse and a decentralized vision for the internet's future, dubbed web3, are part of building wave of growth.
Business
SRTI Park launches Advanced Industry Accelerator 2.0
The accelerator programme will provided local and regional start-ups with innovative solutions and strong support system within the thriving SRTI...
- The accelerator programme will provided local and regional start-ups with innovative solutions and strong support system within the thriving SRTI Park ecosystem
- SAIA 2.0 is also in line with the UAE’s industrial strategy 'Operation 300bn', a 10-year comprehensive policy aimed at empowering and expanding the industrial sector
Business
Expo Centre Sharjah plans to boost exhibition sector in eastern region
During a recent meeting at Expo Khor Fakkan, the Expo Centre Sharjah reviewed its strategic plans to organise a series...
- During a recent meeting at Expo Khor Fakkan, the Expo Centre Sharjah reviewed its strategic plans to organise a series of specialised events over the coming months
- The meeting also discussed future development plans and strategies, as well as the events and exhibitions that would be organised and held in 2023
DWTC welcomes 2.47m visitors in 2023, says EVP
DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC) Mahir Julfar said that the DWTC's performance in 2023...
Business
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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...
Business
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...
Market Report
Tech summit in disarray after organizer’s Israel comment
Paris, France - Several technology industry leaders have decided to boycott one of the sector's biggest annual events after the organizer...
Geostrategy
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Business
Gaza conflict: Fitch places Israel’s IDR on rating watch negative
London, United Kingdom -- Fitch Ratings has placed Israel's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) of 'A+' on...
- Fitch fears escalation could severely impact Israel's credit metrics due to increased military spending, infrastructure damage, and a shift in consumer and investment sentiment.
- Fitch suggests that a major escalation could lead to a negative rating action for Israel. This could manifest as a prolonged conflict, resulting in sustained fiscal challenges.
Business
Saudi e-visa facility extended to Turkiye, five other countries
Riyadh, Saudi Arabia-- Saudi Arabia announced Tuesday that it will grant e-visa to visitors from six new countries -- Turkiye,...
- Thailand, Panama, Saint Kitts and Nevis, Seychelles and Mauritius are the other countries now eligible for e-visa.
- A visitor e-visa is also provided to holders of valid Schengen, UK and US visas that have been used to enter those countries before arriving in Saudi Arabia.
Business
Saudi Arabia launches bus transport project linking 200 cities
RIYADH, SAUDI ARABIA – The Kingdom’s Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser here launched a significant...
- The project will have a capacity to accommodate six million passengers annually.
- It will operate through three international alliances in three concession areas.