Debt, trade barriers drag Asian economies in 2024, says World Bank report   Â
BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast...
Economy
DIB logs 15% net profit growth
Business
EasyLease revenue grows by 37.5%
Business
Arts & Culture
Export credit companies of UAE and Indonesia sign pact to boost trade
Etihad Credit Insurance (ECI), the UAE Federal export credit company, and its Indonesian counterpart PT Reasuransi Indonesia Utama (Persero) or...
- The two agencies also agreed to expand their collaborative initiatives across the globe by fostering sustainable and inclusive economic development and corporation.
- Etihad and Persero will help domestic companies of the respective countries grow overseas by making it easier for these companies to access liquidity.
Business
Dubai allots some 18,000 e-trader licenses in five years
Dubai has allotted some 18,013 e-trader licenses during the last five years, according to a government report.
- Of the total licenses issued, 13,671 are professional, while 4,342 are commercial licenses
- In Dubai, an e-trader license allows freelancers and startups to conduct business activities online and across social networking accounts
Infographics
Iftar lightens the pocket in GCC
Here’s a look at how the price of an Iftar meal compares to a standard meal eaten in moths other...
- Ramadan a month of communal joy, when people gather after dusk and before dawn to partake in feasts that would help them tide over daylong fasts
- However, there seems to be a disparity between how much a full Iftar meal costs versus how much a normal meal costs outside the month of Ramadan
Business
UAE and Egypt to boost investment and cooperation
UAE’s Minister of Industry and Advanced Technology Sultan bin Ahmed Al Jaber reviewed bilateral relations with Mostafa Madbouly, Prime Minister...
- This includes traditional and renewable energy, advanced industries, infrastructure, tourism, agriculture
- The two discussed on wind and solar energy, and finding opportunities for sustainable joint investments
Business
Twitter shares rise on reports it will accept Musk takeover bid
The deal, which media outlets including The Wall Street Journal reported could be announced later in the day, would put...
- About 20 minutes into trading, Twitter shares were up 3.6 pc amid an otherwise downbeat day in New York, where the Dow, Nasdaq and S&P 500 were all in the red by under one percent.
- Musk had earlier this month launched his $43 billion hostile takeover bid for the company, casting it as a promotion of freedom of speech.
Business
DEWA aims to earn $2bn profit next year, not to sell more stock
DEWA has no intention to sell more stock, after having raised $6.1 billion in a record initial public offering, the...
- It is also eyeing 7.4 billion dirhams ($2 billion) in 2023 profit, amid a prospective IPO of its district cooling unit by the end of this year
- DEWA is seeking to spend 40 billion dirhams to expand over the next five years, with more focus on renewable energy
Business
El Khalifa to launch West Cairo projects
West Cairo has witnessed strong real estate development.
- He said the two projects are likely to be launched in May, coinciding with the beginning of the summer season, which represents the peak of real estate market activity.
- Both projects are located in the Green Belt in Sheikh Zayed city, where there is a strong volume of development, reconstruction and a demand from clients.
Business
Emirates Global Aluminum agrees credit facility tied to Term SOFR
Emirates Global Aluminum today announced the company has agreed a revolving credit facility tied to the Term Secured Overnight Funding...
- SOFR is the emerging replacement to the US dollar London Interbank Offering Rate (LIBOR), which has been the global lending benchmark for decades.
- SOFR provides a benchmark interest rate based on data from observable transactions, while LIBOR relied on disclosures from a panel of selected banks.
Business
Rate hike fears and China lockdown drag down stocks
Stock markets sank Monday on growing concerns that lockdowns in China aimed at fighting a worsening Covid outbreak could threaten...
- China's struggle to get a grip on a Covid outbreak that has forced Shanghai -- the country's biggest city -- into lockdown and dealing a blow to demand
- All three main indexes on Wall Street ended more than two percent down Friday, and Asia followed suit with hefty losses
Business
Twitter reexamining Musk’s takeover offer: report
Twitter is reconsidering Elon Musk's buyout proposal, with discussions between the two camps ongoing Sunday, The Wall Street Journal reported,...
- Tesla CEO Musk said Thursday he had secured close to $46.5 billion to finance the transaction
- The potential turnabout on Twitter’s part comes after Musk met privately Friday with several shareholders of the company
Debt, trade barriers drag Asian economies in 2024, says World Bank report   Â
BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast...
Economy
Company News
DIB logs 15% net profit growth
Business
EasyLease revenue grows by 37.5%
Business
Latest News
Aston Martin H1 revenue up
Business
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...
Economy
Dubai Customs strengthens partnerships with courier firms to expand e-commerce
DUBAI, UAE - Dubai Customs recently convened an extensive meeting with the courier and express shipping companies, aimed at bolstering...
Business
FAO raises its forecast for global cereal production in 2023
ROME, ITALY - The Food and Agriculture Organization of the United Nations (FAO) raised its forecast for global cereal production...
Economy
Most Read
Business
Qatar becomes an important global event destination
"Qatar Tourism takes pride in organizing and hosting successful exhibitions across diverse sectors. These events underscore Qatar's capacity to harness...
- Doha hosts the Geneva International Motor Show, its first time outside Switzerland, underscoring Qatar's status as a major hub for global events
- Qatar Tourism excels in hosting varied sector exhibitions, setting its sights on becoming the Middle East's top tourist hotspot by 2030
Business
Dubai’s weeklong real estate transactions exceed US$2.5bn
DUBAI, UAE - A total of 1,445 real estate transactions worth over US$2.5 billion (AED 9.5 billion) were conducted during...
- The Dubai Land Department report showed that 248 plots were sold for US$476 million.
- The DLS report said 1,197 apartments and villas were purchased for US$865 million.
Business
Saudi Arabia’s Tabuk region produces over 28m roses annually
TABUK, SAUDI ARABIA - The Tabuk region's agricultural sector is making steady progress towards achieving the goals of Saudi Arabia's...
- These flowers have a market value of over US$8.5 million making the region a leader in rose production and export.
- The Kingdom’s Ministry of Environment, Water and Agriculture has developed strategies to advance the sector.