Business
President of Jordan Chambers praises reforms to boost business
President of the Jordan and Amman Chambers of Industry Fathi Jaghbir said Saturday that the National trade window to facilitate...
- Trade facilitation window had helped to reduce the time for clearance and boost the competitiveness of sectors, he said
- Single window for trade carries out the logistical measures of the Customs Department and other entities on clearance and export
Business
Real estate trade volume in Amman $1.6 billion by March end
The total real estate trading volume in Jordan by the end of March reached JD 1.414 billion ($1.6 billion). The...
- Iraqi investors ranked first with a total of 202 real estate sales and Saudi second with a total of 194 sales among non-Jordanian investors.
- Real estate sales in Amman were distributed over 6,077 apartments and 8,265,000 plots of land.
Business
Almarai posts $112m profit in Q1
The Saudi dairy company recorded 9% jump in net profit.
- The Saudi dairy giant posted the jump in profit for the first quarter of 2022 on the back of higher revenue
- Results were attributed to a hike in revenue of 23.6 percent and gross profit of 7.8 percent, even as selling and administration expenses went up
Business
Abu Dhabi grants Binance approval to operate in emirate
Abu Dhabi has allowed Binance, the world’s leading blockchain and cryptocurrency infrastructure provider, to operate as a broker-dealer in virtual...
- The company has received approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM)
- Upon the successful completion of its ADGM FSRA application, Binance will then be able to offer its services regarding virtual asset offerings to customers across the MENA region
Science
First private mission reaches International Space Station
Axiom sees the voyages as the first steps of a grander goal: to build its own private space station. The...
- NASA join hands with Axiom and SpaceX to focus on more ambitious voyages deeper into the cosmos
- ISS will carry out 25 research projects, including an MIT technology demonstration of smart tiles
Analysis
GCC keeps pace with global solar, wind trends
Countries like the UAE, Saudi Arabia, and Oman appear on track to take giant strides in diversifying their portfolios when...
- Across the greater MENA region, Yemen, Jordan, Turkey, and Morocco have generated more than 10 percent of their power from solar and wind
- However, things appear poised to change very soon, with several projects that may improve the region’s overall renewable outlook
Business
Elon Musk asks: ‘Is Twitter dying?’
He also called out users who are highly followed but rarely post.
- Tesla founder Elon Musk recently disclosed that he had acquired a more-than-9-percent stake in Twitter
- This made him Twitter’s largest shareholder, and so the social media company named him to the board
Opinion
Successful acquirers make insurgent assets unique
Incumbent brands need small-brand deals to recapture top-line growth and boost total shareholder return. While challenging to get right, these...
- Despite an overall annual market growth of 4% from 2012 to 2019, the 30 largest consumer goods companies grew less than 1%, a growth gap further widened by Covid-19
- Prior to the pandemic, insurgent brands captured more than 30% of the growth across the categories in which they exist, despite accounting for only 3% of the market share
Business
Spurred by higher oil prices, GCC indices post gains this week
The GCC's main indices closed higher toward the end of week, spurred by higher oil prices. The Saudi index "TASI"...
- The Saudi index "TASI" reached 13,314 points, achieving an increase of 0.4 percent on Thursday, its last trading day
- the Dubai index increased by 0.2 percent during the week as the sentiment cooled
Business
Abu Dhabi launches drive to keep infected Kinder products away
The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) has said that the Abu Dhabi's markets are completely free of...
- The Authority's inspectors checked Abu Dhabi's markets to ensure whether suspected products were identified in the alert or not
- It also coordinated with suppliers and food facilities and contacted the local agent "Ferrero" in UAE
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Qatar begins construction on North Field gas expansion
RAS LAFFAN, QATAR - Qatar's state-owned energy giant began construction on Tuesday on a project to expand production from the world's...
Geostrategy
Saudi Cruise signs pacts with leading firms
The agreements are aimed at boosting investment in Aroya Cruise.
Business
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Business
South Korean firms eyeing expansion in UAE’s oil and gas sector
Abu Dhabi, UAE -- Top executives from South Korean companies have affirmed that numerous firms are actively looking to expand...
- Top executives told WAM that UAE has made significant strides in energy transformation in recent years and continues its relentless efforts to address the climate change fallout.
- Kyle Moon, Deputy General Manager of Daeha company said ADIPEC enhances collaboration opportunities among policymakers and decision-makers.
Business
Ford lays off 300 US workers
The workers were asked not to report to work due to the strike.
- The strike against the "Big Three" car manufacturers -- Ford, Stellantis and General Motors -- began on September 15 when a previous contract expired without a replacement
- Instead of calling for all of its 146,000 members to strike at once, the UAW union has deployed a targeted approach, adding more sites as the weeks drag on
Business
Global energy demand to rise 25% by 2045: OPEC chief
Abu Dhabi, UAE - Global demand for all forms of energy is forecast to rise by 25% through 2045, according...
- No single energy source can meet the world's growing needs as the economy expands and the population increases, Al Ghais said
- He added that despite some setbacks, global growth continues, and he was optimistic about future oil demand