UAE announces US$2,722 penalty for late corporate tax registration
ABU DHABI, UAE – The Ministry of Finance on Tuesday announced the issuance of Cabinet Decision No. 10 of 2024...
Business
Middle East and Africa smartphone shipments surge 30% YoY in Q4 2023
Dubai, Riyadh - Smartphone shipments in the Middle East and Africa (MEA) region witnessed a remarkable surge, growing by 30%...
Business
Business
Muscat raises foreign ownership in joint stock companies to 100%
The decision to raise the percentage of foreign investment in public companies is one of the most important steps to...
- The decision to raise the percentage of foreign investment in public companies is one of the most important steps to include the market in global emerging market indices
- Oman plans to list 35 state-owned companies in the next five years, with a focus on listing one or two firms from the oil sector during the current year
Business
Jordan’s trade deficit with EU expands 12.9% to $3.77bn
Jordan’s trade balance deficit with the European Union countries expanded by 12.9% in 2021 compared to 2020.
- Total trade deficit reached about JD2.671 billion ($3.77 billion) in 2021
- The value of national exports to EU countries increased by 29.9 per cent during 2021
Geostrategy
Bahrain and the Netherlands discuss ways to boost ties
Bahrain and the Netherlands discussed ways to strengthen cooperation and boost the youth sector in both countries through exchange of...
- Both sides lauded the distinguished relations between Bahrain and the Netherlands in all fields
- They also highlighted the major initiatives and programs launched to support the youth sector
Business
UK PM may visit Saudi Arabia to lobby for uptick in oil output
Britain on Sunday defended lobbying Saudi Arabia to up its oil output as energy sanctions on Russia hit Western consumers,...
- Senior cabinet minister Michael Gove did not deny a report in The Times on Saturday that Prime Minister Boris Johnson is set to visit Riyadh this week
- The newspaper said Johnson will lobby Saudi Crown Prince Mohammed bin Salman to help offset the impact of the Ukraine-linked sanctions
Business
Tibbiyah posts 14% drop in profit
Arabian International Healthcare Holding Co., also known as Tibbiyah, has posted a fourteen percent drop in net profit to $21...
- Despite the fall in profitability, the company's board proposed the distribution of SR3 per share in dividends for 2021
- The company said the drop in profit was caused by a decline in sales
Business
SAMI of Saudi Arabia to hire more women to support diversity
Saudi Arabian Military Industries (SAMI) will hire more staff and most of them will be women in order to support...
- Unit last year, SAMI had about 2,500 employees, with 82 percent Saudization and females representing 22 percent of the workforce
- At the end of 2021, SAMI was among the top 85 defense companies in the world
Business
Saudi women drive for extra cash as costs climb
Sweeping social reforms, including lifting the infamous ban on women driving, have transformed life for many Saudis, but rising costs...
- According to the official data, women made up more than a third of the workforce in 2021
- Over 200,000 women in Saudi Arabia have been issued driving licenses since 2018
Business
Egypt nixes reports that Suez Canal traffic is falling
The key trading link is setting new records, said the government, quoting the Suez Canal Authority.
- About 10 percent of global trade, including 7 percent of the world’s oil, flows through the Suez Canal
- First opened in 1869, the canal is a source of national pride and foreign currency to Egypt
Business
QFD unveils Morocco housing
The residential complex is located in Bir Al-Souk in Morocco.
- The residential complex is expected to have 12 buildings consisting of three floors and a basement
- Each floor contains four apartments, with each apartment having an area of 72 square meters
Business
Saudi Arabia to grant licenses to renewable energy facilities
Saudi Arabia will grant industrial licenses to facilities operating in the renewable energy sector and power plants in order to...
- The Ministry of Industry and Mineral Resources and the Ministry of Energy have partnered with the Non-Oil Revenues Development Center to grant the licenses
- The Ministry of Industry and Mineral Resources also provides many incentives and benefits to investors in the sector
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
UAE announces US$2,722 penalty for late corporate tax registration
ABU DHABI, UAE – The Ministry of Finance on Tuesday announced the issuance of Cabinet Decision No. 10 of 2024...
Business
Company News
BMW to put in $218m in S Africa
Business
H&M shares up
Business
Latest News
Agthia okays H1’23 interim dividend
The interim dividend reflects the firm’s robust balance sheet.
Business
Normalization of Israeli-Saudi ties hit Palestine, security barriers
Despite Israel's strong determination and increasing US mediation efforts, the establishment of diplomatic relations between Tel Aviv-Riyadh still face serious...
Geostrategy
UAE banks to perform strongly in 2023: Standard & Poor’s report
Abu Dhabi, UAE -- Standard & Poor's Global Ratings expects that the banks of the United Arab Emirates (UAE) will...
Business
Most Read
Business
Over 3,500 new members register with Ajman Chamber in H1 2023
AJMAN, UAE- The Ajman Chamber of Commerce and Industry (ACCI) has revealed that in the first half of 2023, at...
- The industrial membership in the Ajman Chamber grew by 6.9 percent during the first half of this year compared to the first half of 2022.
- The Ajman Chamber is keen to attract specialized investments in modern industries based on technology and artificial intelligence.
Business
Saudi capital market institutions employ 5,524 by second quarter end: CMA
Dubai, UAE -- The number of employees at capital market institutions rose by 103 quarter-on-quarter (QoQ) to 5,524 by the...
- Males accounted for 80 percent of the employees at capital market institutions, with 4,400 employees, while the number of females stood at 1,124.
- Meanwhile, the Saudization rate at these institutions reached 75 percent by the end of Q2, from 77 percent in Q1, according to the Capital Market Institutions Report.
Business
Saudi Venture Capital invests $5m in VentureSouq fintech fund
Riyadh, Saudi Arabia - Saudi Venture Capital (SVC) has made a $5 million investment in a fintech fund managed by...
- The company catalyzes financing for startups from the pre-Seed to pre-IPO stages
- It deploys $2 billion through investments in funds and co-investment in startups