Digital innovation spurs gender parity in Middle East
Technology, from digital platforms to AI, offers a transformative avenue for empowering women, says Isabel Neiva of Kearney Middle East...
Business
Business
UAE, Bangladesh to expand cooperation in trade, investment
The UAE-Bangladesh Business Forum discussed ways to enhance cooperation between the two countries in the field of trade and investment,...
- An MoU was signed between the two to establish a joint UAE-Bangladesh Business Council.
- The UAE-Bangladesh Business Forum was held at DP World Pavilion at Expo 2020 today in the presence of ministers.
Business
Dubai records $3.64 bn worth of weeklong real estate transactions
Dubai witnessed real estate and properties transactions worth AED13.4 billion ($3.64 bn) during the week ending 11 March 2022, according...
- The top three transactions were a plot of land in Trade Centre Second sold for AED198.15 million, followed by a plot of land that was sold for AED160.14 million in Palm Jumeirah.
- The sum of the amount of mortgaged properties for the week was AED3.83 billion, with the highest being a building in Palm Jumeirah, mortgaged for AED1 billion.
Business
Sharjah Chamber and Argentina to foster ties between businesses
The Sharjah Chamber of Commerce and Industry (SCCI) and an Argentinian delegation discussed ways to enhance cooperation between the business...
- Sharjah Chamber and a delegation from Argentina discussed economic, trade and investment relations at a forum.
- Abdallah Sultan Al Owais, Chairman of the SCCI highlighted the importance of joint work to advance the existing relations.
Business
DP World revenue up by 26.3 percent
The adjusted EBITDA growth was 15.3 percent ($3.828 bn) and capital expenditure $1.393bn.
- The revenue increase from $2.245 billion to $10.778 billion is supported by acquisitions and new concessions including Angola, Unico and Transworld.
- Like-for-like non containerized revenue grew 9.5 percent with a strong performance from the Feedering business.
Business
Chinese companies threatened with delisting on Wall Street
Five Chinese companies have been ordered to comply with audit requirements by the US Securities and Exchange Commission (SEC) or...
- In total, some 248 companies are affected, with a market capitalization of about $2.1 trillion, according to an ad hoc committee.
- Mainland Chinese and Hong Kong companies are notorious for not submitting their financial statements to US-approved auditors.
Business
Bitcoin being used for money-laundering: Report
Mexican cartels are estimated to have used bitcoin to launder $25 billion a year in Mexico alone, according to a...
- The criminals skirt a law requiring cryptocurrency platforms to notify authorities of any transaction of more than $2,830
- They are then said to use the accounts to repeatedly buy small amounts of bitcoin online to pay associates
Business
UAE, New Zealand partner to strengthen trade relations
According to Statistics New Zealand, the total two-way trade between New Zealand and the UAE in 2021 reached AED8.63 billion...
- ECI and NZEC have agreed to promote the UAE and New Zealand exports and export-related investments
- They will provide tailored trade credit insurance and financial guarantees, backed by their governments
Business
Aramco JV inks China deal
The refinery, in China’s Panjin, should be operational by 2024.
- The liquids-to-chemicals complex is being built by Huajin Aramco Petrochemical Company (HAPCO), of which Aramco is a part
- The other members of the JV are North Huajin Chemical Industries Group Corporation and the Panjin Xincheng Industrial Group
Business
Airlines want end to Covid restrictions for EU flights
Most countries in the EU are beginning to relax requirements to present proof of vaccination and wear masks.
- ACI Europe represents some 500 airports in the region plus IATA, which is the top trade association for airlines
- It noted that numerous countries were now dropping requirements to wear masks or present proof of vaccination
Business
Gulf fitness sector works out well as Covid curbs ease
As the Covid restrictions ease, gyms and fitness centers in the region are on a solid path towards recovery with...
- As pandemic restrictions ease, gyms in the region are on a solid path towards recovery with class occupancy catching up at 88 percent pre-COVID levels
- Fear of getting the virus and social isolation were at the forefront of people's minds during the pandemic, imposing a burden on mental health
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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
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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...
Business
Qatari-Chinese Business Forum discusses ways to boost trade ties
Doha, Qatar--The Qatari-Chinese Business Forum kicked off with the participation of over 70 local companies and nearly 60 Chinese companies...
Economy
GCC real estate transactions surge on demand increase
GCC real estate hits $90.7 billion in the first half of 2023, a 9.9% year-on-year increase, with Dubai leading the...
Business
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Business
Saudi EXIM, India EXIM ink MoU
Pact was signed on the sidelines of G20 Summit in New Delhi.
- The primary objective of this agreement is to facilitate the export of products and services between Saudi Arabia and India.
- The key areas of cooperation encompass exporting products and services, the exchange of information and expertise.
Business
ADNOC L&S boosts barge fleet
With the latest acquisition, the firm now owns 39 JUBs.
- This expansion comes when JUB charter rates are robust due to the high demand for offshore services.
- One of the JUBs will serve the Iraqi market, marking ADNOC L&S’ entry into a new market and supporting the firm’s regional expansion.
Business
Vietnam Airlines, Boeing ink $7.8bn pact
The deal is likely to support more than 30,000 jobs in the US.
- Vietnam Airlines will purchase 50 of the 737 aircraft, Biden said during a roundtable with senior executives from top American and Vietnamese firms.
- The communist country's aviation sector has boomed in recent years thanks to a rapidly expanding middle class with growing appetites.