IHC posts net profit of US$8.97bn
Its revenue jumped to US$16.33 billion, a rise of 17.9 percent.
Business
Japan’s Moon craft SLIM revives after lunar night
TOKYO, JAPAN – Japan's Moon lander has produced another surprise by waking up after the two-week lunar night, the country's space...
Science
Business
Number of educational firms in Ajman Free Zone grew by 17 percent in 2021
The number of registered educational companies within the Ajman Free Zone (AFZ) grew by 17 percent in 2021 compared to...
- Ajman Free Zone is home to more than 240 educational facilities in 2021.
- AFZ attributed the growth to its strategic location, modern facilities and infrastructure, innovative and seamless services.
Business
YPO Gender Equality Survey: Executives must prioritize mental health
Mental health is a priority for 99 percent of female and 92 percent of male executives, according to the Gender...
- The survey with 300 leaders, of all ages, across 57 countries, was aimed at raising awareness around gender equality.
- Loneliness as a challenge within the workplace has decreased from 2021 and was referenced by fewer than 15 percent of the participants.
Business
Yahsat and Al Seer Marine to test line-fitting unmanned vessels
Yahsat Government Solutions (YGS) and Al Seer Marine PJSC will test line-fitting unmanned vessels with advanced Comms-on-the-Move (COTM) satellite communications...
- The two entities signed an MoU regarding the same on Tuesday at World Defence Show in Riyadh according to a press release
- The MoU will enable Al Seer Marine to build on Yahsat’s extensive experience in delivering highly secure satellite communications
Business
Dubai real estate market posts sales worth $248m
Dubai’s real estate market recorded 368 sales transactions worth $247.66 million and mortgage deals of $48.27 million.
- Mortgage deals worth $48.27 million was also recorded in Dubai
- This was in addition to 70 gift transactions amounting to $34.5 million
Business
Morocco truckers observe strike to protest soaring fuel price
Moroccan truck drivers are observing a three-day strike in protest at spiraling fuel costs, a union said Tuesday, as oil...
- Around three quarters of drivers are observing the strike, said Mounir Benazouz of the SNPTR truckers' union
- The government of Prime Minister Aziz Akhannouch has for weeks been facing growing unrest over mounting living costs
Business
Oil restarts to flow in Libya as gunmen lift blockade
Libya's National Oil Corporation said Tuesday that an armed group blockading two major oil fields had lifted its siege and...
- The NOC had announced the suspension of production on Sunday at the vast Al-Sharara and Al-Fil fields after gunmen closed pipelines to the coast
- Libya, which sits on Africa's largest crude reserves, has been rocked by 11 years of conflict since a NATO-backed revolt toppled and killed dictator Moamer Kadhafi
Business
Moody’s depicts a bleak outlook for sukuks in 2022
Moody’s has depicted a bleak outlook for sukuks in the current year because of a spike in oil prices and...
- However, the risk assessment firm expects Islamic finance to grow even more in 2022 as economic recovery continues in the GCC
- According to Moody’s, Islamic fund AUM continued to grow robustly in 2021 as the economy improved and equity markets performed well
Business
$2.1bn in deals signed at Saudi Arabia’s first defense show: GAMI
Saudi Arabia's first World Defense Show has seen the signing of 22 industrial partnerships with domestic and international defense companies...
- General Authority for Military Industries (GAMI), which is also the regulator of the Kingdom’s defense sector, said that the deals cover a broad range of activities.
- GAMI is the founder of the World Defense Show and the defense industries sector’s regulator.
Geostrategy
US envoys held energy talks with Venezuela’s Maduro: W.House
The White House said Monday that a US delegation held weekend talks in Venezuela with the government of President Nicolas...
- US has broken it's diplomatic relations with Nicolas Maduro, imposed sanctions on Caracas in a bid to force Maduro from power in 2019
- Venezuela President has assured Vladimir Putin of his "strong support" in the wake of the invasion
Business
Saudi, Lockheed Martin in missile defence deal
Saudi military industries authority approved two projects to produce launchers and other equipment used in the THAAD anti-missile defence system.
- Saudi Arabia has signed defence deal with the US firm as the kingdom aims to manufacture 50 percent of its defence needs by 2030
- In 2019 when KSA was in conflict with Iran, US had deployed THAAD and Patriot defence systems in Saudi Arabia
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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
IHC posts net profit of US$8.97bn
Its revenue jumped to US$16.33 billion, a rise of 17.9 percent.
Business
Company News
SPARK, Hutchinson Ports ink pact
Business
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Japan fund to buy out JSR
Business
Saudi Industrial Production Index falls third month in a row
Riyadh, Saudi Arabia -- Saudi Arabia’s Industrial Production Index (IPI) fell for the third month in a row, declining by...
Economy
BMW to make ‘multi-million’ pound investment in UK plants: govt
The first generation of the iconic British vehicle's electric model was launched at the Oxford plant in 2019, but last...
Saudi Arabia’s ROSHN Group announces $2.4bn in commercial partnerships
Riyadh, Saudi Arabia - Saudi Arabia's leading real estate developer, ROSHN Group, announced on Sunday a series of commercial partnerships...
Business
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Business
Single window offers fresh air to Qatar enterprises
This enhanced suite of services simplify registration for investors, enabling them to complete company setup steps without visiting multiple ministries...
- This enhanced suite of services simplify registration for investors, enabling them to complete company setup steps without visiting multiple ministries or their websites
- Before the new system, licensing took 6-8 weeks. Now, the enhanced process bolsters global confidence in Qatar's business landscape, drawing international inquiries
Geostrategy
Keen on promoting digital payments in India, UAE, says RBI
NEW DELHI, INDIA – The Chief General Manager of the Reserve Bank of India's Department of Payment and Settlement Systems,...
- India and UAE have signed two MoUs to strengthen the use of national currencies for bilateral trade, link payment and financial messaging systems.
- The RBI official said the two countries can work together to further develop digital payments and make them more efficient and convenient.
Geostrategy
IsDB to finance projects worth US$800m in member states
JEDDAH, SAUDI ARABIA - The Board of Executive Directors (BED) of the Islamic Development Bank (IsDB) approved to finance projects...
- The aid will contribute to ameliorate the socio-economic challenges faced by the people and will help in achieving significant SDG targets.
- IsDB had made an emergency intervention to support the communities affected by the conflict in Sudan.