Digital transformation fuels GCC banks’ growth
The banking sector across the GCC has demonstrated formidable growth and profitability, with Qatar leading in several key performance indicators,...
Business
UAE and Kenya sign agreement to enhance digital, tech cooperation
Abu Dhabi, UAE--The UAE and Kenya have signed an investment memorandum establishing a framework for investment cooperation in digitalisation and...
Business
Tamimi Markets of KSA to develop smart farms with foreign firms
Tamimi Markets, Saudi supermarket chain, has teamed up with Japan's Mitsui & Co. and Italy's Zero SRL to develop the...
- The three partners aim to develop the next generation of vertical smart farms in the Al-Kharj area of Saudi Arabia
- Starting with Riyadh, the new joint venture will bring fresh produce to the market using far less water than traditional farming techniques
Business
QEWC profit up 4.5% in Q1
Profits in the first quarter of 2022 reached $106.78 million.
- QEWC is one of the largest energy production and desalination companies in MENA
- It is the main provider of electricity and desalinated water in Qatar
Business
NBQ reports Q1 profit of $26.3m
Its net profit increased 26.26% from the same period last year.
- The cost to income of NBQ stood at 27.11 percent during three months
- It reflected the bank's operational efficiencies and disciplined cost management
Interview
Greece’s Ionian Islands eye UAE to woo tourists
Rodi Kratsa-Tsagaropoulou, Mayor of Greece's Ionian Islands, explains how an enhanced cultural and tourism ties with UAE will be mutually...
- The Ionian Islands and the United Arab Emirates are developing cultural and tourism ties
- The two have established direct flights from Abu Dhabi and Dubai on Etihad and Fly Dubai
Business
Gulf Biotech Company becomes second drug producing firm in Bahrain
The licensed plant will manufacture a variety of injectable human healthcare formulations such as vials, ampoules and prefilled syringes.
- National Health Regulatory Authority (NHRA) announced that it had licensed the medical firm.
- The injectable drugs will be subjected to final inspection to be granted a Good Manufacturing Practices.
Business
Ajman Chamber membership grows by 35 percent in 2021
The membership of the Ajman Chamber of Commerce and Industry (ACCI) grew by 35 percent in 2021, according to Muhammad...
- The number of new members reached 7,704 during 2021, compared to 5,723 members during 2020.
- New commercial licenses for the previous year was 4,238 membership, 2534 professional membership and 131 industrial memberships.
Business
Egypt turns to India to import much needed wheat
Egypt will import wheat from India to compensate for the loss of wheat supplies from Ukraine and Russia, the north...
- El-Said Marzouq El-Qosair, Egypt’s minister of agriculture and land reclamation, said this comes within the framework of the state’s efforts to secure new sources of wheat
- Egypt is the largest importer of wheat in the world and depends on Russia and Ukraine, which have been in conflict for nearly two months
Business
Ekar kicks off car rentals in KSA
A person can rent out his vehicle on the ekar platform.
- Ekar’s entire process of renting vehicles is contactless, as the rented cars will be activated through an app, which unlocks the vehicle, while the keys are inside the car
- This feature aims to reduce the chances of theft and unauthorized access
Business
Dubai Logistics City Customs Centre clears goods worth $435m in Q1
Dubai Logistics City Customs Centre completed 48,000 transactions and cleared goods valued at AED 1.6 billion in the first quarter...
- The Centre facilitates processes and operations of companies and traders.
- In particular, the Centre handles the shipments of the International Humanitarian City, the largest humanitarian logistics centre in the world.
Videos
Grocery apps reap Ramadan benefits
Grocery apps are witnessing a busy period during the Holy Month as scorching summer persuades customers to remain indoors while...
- More than two years of the Covid-19 pandemic have led to a rise in the adoption of personal electronic devices
- This itself has led to a change in people’s behavior, especially when it comes to entertainment and ecommerce
Digital transformation fuels GCC banks’ growth
The banking sector across the GCC has demonstrated formidable growth and profitability, with Qatar leading in several key performance indicators,...
Business
Company News
Latest News
Qatar, Iran discuss cooperation in free zones, investment
DOHA, QATAR - Minister of State and Chairman of the Board of Directors of the Free Zones Authority Ahmad bin...
Geostrategy
ADNOC awards two contracts for Hail and Ghasha Offshore Development project
ABU DHABI, UAE – ADNOC on Thursday announced the final investment decision (FID) and award of contracts for the Hail...
Business
Value of Dubai realty deals up 40 percent in third quarter 2023
Dubai, UAE -- The value of real estate deals in Dubai increased by 40 percent to reach AED 97.55 billion...
Business
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Business
ADNOC signs pacts with 30 firms
This will create manufacturing opportunities worth $2.7bn.
- The new agreements, outline the companies’ intention to locally manufacture products potentially worth up to AED10 billion ($2.7 billion) in ADNOC’s supply chain, ADNOC said.
- Personal Protective Equipment, which will enhance the safety of operations across all ADNOC Group companies, are among the products to be produced locally.
Business
Arab Development Establishment looks for JV partnerships in oil, gas sector
Abu Dhabi, UAE-- The Arab Development Establishment (ARDECO) has revealed that it is in talks with several international companies in...
- The CEO of ARDECO said the partnerships with global companies will strengthen the government's approach to making the emirate a global hub for the oil and gas sector
- He went on to add that his company represents more than 200 global firms in gas, oilfield services, and it intends to transform its relationship with these companies
Google’s new phone to run AI on-device
At a launch event in New York, Rick Osterloh, SVP of devices and services at Google, said that the company's...
- The announcement by Google caps the autumn release season for big tech hardware that saw Apple unveil the iPhone 15 series and Meta officially launch its latest VR headset
- Running on a powerful chip, Google's Pixel 8 Pro would carry out AI functions on device itself instead of relying on transfers from cloud data centers that require heavy bandwidth