Singapore’s Petrozo Energy setting up Sharjah base to target Middle East
Sharjah, UAE – Petrozo Energy, a leading Singapore-based oil and gas company, has announced a plan to establish a new...
Business
Business
UAE accounts for 77% of GCC investments in Latin America over 2016-2021
Saudi Arabia accounted for 22 percent of GCC investments to Latin America during 2016-2021, followed by Qatar with 1 percent.
- Saudi Arabia accounted for 22 percent of GCC investments to Latin America during 2016-2021, followed by Qatar with 1 percent
- The report, titled Cultivating Ties: Deepening trade and investment between Latin America and the GCC, was issued ahead of the Global Business Forum Latin America 2022
Business
Pandemic aided digital adoption by UAE businesses: PayPal survey
Survey analyses the impact of COVID-19 on small businesses, the key verticals of growth and the growing acceptance of digital...
- Survey analyses the impact of COVID-19 on small businesses, the key verticals of growth and the growing acceptance of digital payments
- With adoption of digitalization, 41 percent of the respondents have seen increased purchases through social media channels
Business
Sustainability key challenge for UAE realty players
It is hard to balance sustainable developments and what people want in the market, especially when it comes to pricing,...
- Designing a building, putting up construction plans in terms of materials until the demolition are responsibilities of a sustainable property developer
- The real estate market in Dubai had a 65 percent increase in the number of transactions and a 71 percent increase in value in 2021.
alfanar invests $1.3bn in UK
The money will go in producing aviation fuel from waste.
- The Lighthouse Green Fuel project generates more than 180 million liters of sustainable aviation fuel annually in the UK
- This amount of sustainable aviation fuel is sufficient to power 15,000 flights per year, reducing harmful carbon emissions from conventional fuels by over 700,000 tons annually
Business
Dubai SMEs bag contracts worth $250m under procurement program
Emirati entrepreneurs and national enterprises in Dubai won contracts worth AED 921.6 million ($250 million) from various local and federal...
- Since 2002, GPP has facilitated contracts worth over AED 8.4 billion for Dubai SME members from 69 supporting entities across the government, semi-government and private sectors.
- Expo 2020 Dubai topped the list of local government support agencies of GPP last year with contracts worth AED 161.7 million.
Business
Egypt hosts UAE and Israel leaders for three-way talks
Egypt hosted the Israeli and UAE leaders for unprecedented three-way talks Tuesday as the Ukraine war rocks energy and food...
- The meeting, which took place in the Red Sea resort of Sharm el-Sheikh, included discussions on "energy, market stability, and food security"
- The first three-way summit of its kind comes at a crucial time for the Middle East after Russia's invasion of Ukraine sparked concerns about stability and sent commodity prices up
Business
Vietnam experts see Middle East as promising market for country’s exporters
Vietnam has signed economic, trade and scientific-technological cooperation agreements with five GCC countries.
- Vietnam has mostly traded with six member nations of the Gulf Cooperation Council in the Middle East region.
- Trade between Vietnam and the GCC countries has surged from US$2.7 billion in 2012 to US$12.5 billion in 2021.
Business
Tabreed to pay highest ever dividend
The payout will be in the form of cash and bonus shares.
- The firm said the shareholders will get a cash dividend of six fils per share and a bonus of one share for every 40 shares held, which is equivalent to 12 fils per share.
- Last year, group revenue increased by 12 percent to 1.95 billion dirhams ($530 million), while net income grew 6.3 percent to 585 million dirhams.
Business
Libya restarts domestic flights after two-week shutdown
Libyan authorities reopened the war-torn country's skies for domestic flights on Tuesday, an aviation official said, two weeks after they...
- Flights between Mitiga and other Libyan airports had been suspended since March 7, after the country's eastern-based parliament appointed a rival government
- The United Nations and Western officials had called repeatedly for the airspace to be reopened
Business
Tesla to open Berlin factory
Elon Musk to hand over first 'made in Germany' Model Y car.
- The electric car maker will inaugurate its new "gigafactory" near Berlin an arduous two-year approval and construction process.
- Tesla aims to eventually employ some 12,000 workers at the site who will churn out around 500,000 Model Y cars annually.
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Singapore’s Petrozo Energy setting up Sharjah base to target Middle East
Sharjah, UAE – Petrozo Energy, a leading Singapore-based oil and gas company, has announced a plan to establish a new...
Business
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Europe’s tussle with Big Tech involves dominance, data, disinformation
Paris, France - Irish regulators on Friday handed out a 345-million-euro ($369-million) fine to TikTok over data breaches, part of a...
Geostrategy
UAE, China’s Hainan Province ink multiple deals to boost trade, economic ties
DUBAI, UAE - The UAE and China's Hainan Province have signed four major private-sector agreements aimed at boosting the rapidly...
Geostrategy
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Business
Dubai real estate transactions worth over $3.4bn in week ending September 15
DUBAI, UAE - A total of 2,329 real estate transactions worth over US$3.4 billion (AED 12.7 billion) were conducted during...
- A total of 549 plots were sold for US$1.1 billion, while 1,780 apartments and villas were purchased for $1.07 billion.
- A plot in Marsa Dubai sold for US$169 million while a plot sold for US$49 million in Business Bay.
Business
Turkey-China nuclear power plant deal possible soon: Minister
Dubai, UAE -- The talks between Turkey and China to build a nuclear power plant in eastern Thrace are progressing and...
- Senior officials from the Chinese government visited eastern Thrace and saw the sites where the construction is planned, Middle East Eye reported.
- Russia is already building a power plant in Akkuyu that will become partly operational next year.
Business
Saudi business delegation visits ZSBVC steel factory in Vietnam
HANOI, VIETNAM - A delegation of 80 Saudi businessmen, representing over 50 companies, and representatives from national specialized bodies and...
- The visit aims to explore investment opportunities, enhance trade, investment and industrial cooperation between Saudi Arabia and Vietnam.
- The visiting delegation was briefed on the production lines at Zamil Steel Building Vietnam Co and witnessed the skill of the workers.