New shipping service in Saudi Arabia launched
RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) has announced the addition of the new shipping service 'NRS' by...
Business
UAE exports 31.3m barrels of crude oil to Japan in February
Tokyo, Japan--The UAE exported 44.1 percent, namely 31.3 million barrels, of Japan's crude oil needs in February 2024, according to...
Business
Business
Booking volumes up 195% YoY for Eid, says dnata Travel
The top five most-booked destinations this year so far with dnata Travel include the Maldives, the UAE itself, Turkey, Mauritius,...
- This year, 65 percent of UAE travelers opted for worldwide destinations, while 35 percent chose staycations, according to dnata
- This is compared to 68 percent of travelers booking UAE staycations and 32 percent seeking international holidays in 2021
Business
TA’ZIZ, Reliance ink pact
TA’ZIZ taps Indian conglomerate for Ruwais project.
- Reliance is India’s largest diversified conglomerate and a strategic partner with Abu Dhabi National Oil Company
- The formal shareholder agreement was signed by senior executives during a visit of Mukesh Ambani, Chairman and Managing Director of Reliance
Business
Free speech or hate speech? Fears for Musk’s Twitter
Elon Musk describes himself as a "free-speech absolutist," leaving rights groups fearful that Twitter will provide a forum for hate...
- Civil activists are worried that means Musk, 50, will allow banned extremists back to the platform
- Like other social media networks, Twitter has struggled against disinformation, bullying and hate-fuelled content
Business
Saudi Arabia lifts ban on poultry and eggs from Denmark
Saudi Arabia had stopped the imports as reports of avian influenza, or bird flu, emerged from across the world.
- Food products have a significant role in Denmark’s economy
- Two-thirds of his country’s exports are mainly food products
Business
Russia boycott echoes in UAE retail market
Chanel stores in the UAE reportedly refused to sell products to Russian customers unless they signed a document committing not...
- Russian influencers have complained of experiencing ‘Russophobia’ by global brands but refuse to comment on the issue
- The UAE's anti-discriminatory and anti-hatred law clearly provides a solid legislative ground for the environment of tolerance, co-existence, and acceptance
Business
Alphabet Q1 profit slips
Shares sank nearly 5 percent to $2,257 on the news.
- Alphabet reported net income of $16.4 billion in the first quarter of the current year
- Its revenue climbed 23 percent to $68 billion compared to the same period last year
Business
Dubai Chamber adds 10,000 new companies as members in Q1
More than 10,000 companies joined Dubai Chamber of Commerce as members during the first quarter of 2022, marking a 64...
- Member exports and re-exports saw 11.3 percent growth over the same period last year, while their value reached AED 61 billion.
- The number of certificates of origin issued by the Chamber during the first quarter of this year amounted to 178,654 certificates, a growth of 7.1 percent from 2021.
Business
Jordan and UAE groups join hands to develop beach project
Jordan Free and Development Zones Group Director Arwa Hiyari said the beach project is aimed at diversifying tourism.
- The project features a tourism camp housing restaurants, swimming pools and top-notch chalets of different sizes.
- The project will also provide new services for Dead Sea visitors and create job opportunities, an official said.
Business
Dubai real estate market records highest single-quarter deals since 2010
Dubai real estate market recorded the highest number of transactions since 2010 registered in a single quarter and the highest...
- Q1 2022 recorded a total of 20,539 sales transactions worth AED 55.51 billion ($15.11 billion).
- The quarter had the highest number of rental contracts ever recorded in a single quarter and it had a total of 160,530 rental contracts.
Business
Aldar acquires stake in AD Business Hub
The UAE-based Aldar Investment is the subsidiary of Aldar Properties.
- The acquisition marks the creation of Aldar Logistics, the company's new logistics real estate vertical.
- Aldar Logistics will focus primarily on the UAE, potentially expanding into Saudi Arabia and Egypt, said an Aldar press release on Tuesday.
New shipping service in Saudi Arabia launched
RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) has announced the addition of the new shipping service 'NRS' by...
Business
Company News
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Meta posts big earnings
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
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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