Aramco CEO highlights collaboration with Beijing at forum in China
AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...
Business
Feeding fit: Saudi Arabia redefines the poultry sector
In February 2024, Saudi Arabia's poultry industry reached a milestone by producing 100 million kilograms of poultry, thereby setting new...
Business
Economy
UAE Banks Federation urges businesses to benefit from SME Campaign
UAE Banks Federations (UBF) has called upon the entrepreneurs of existing and under-formation Small & Medium Enterprises (SMEs) to unlock...
- UBF Director-General, Jamal Saleh, explained that such initiatives will help UAE SMEs become a driving force for a thriving economy.
- SMEs are encouraged to tie up with reliable UBF members' banking partners who will grant them privileged access to customized business banking services and solutions.
Business
Oman Insurance reports highest net profit
The company’s net receivables ratio of 15.4 percent is at an all-time high, reflecting a strong emphasis on generating free...
- The company’s net receivables ratio of 15.4 percent is at an all-time high, reflecting a strong emphasis on generating free cashflows
- The company’s solvency capital requirement before the proposed dividend reached its highest level of approximately 275%
Business
Saudi-European Forum for investors in camel sector kicks off in Riyadh
The forum witnessed the attendance of businessmen and owners from the Kingdom and the GCC countries and employees of the...
- The forum witnessed the attendance of businessmen and owners from the Kingdom and the GCC countries and employees of the Chambers of Commerce
- The participants watched an introductory video presentation about the International Camel Organization and the Camel Club
Business
Three trends that will shape payroll this year
It seems unlikely that the volatility we have experienced since the start of the pandemic will disappear. Therefore, payroll teams...
- Covid-19 has tested the flexibility and resilience of payroll teams, forcing them to cater for hybrid working models and respond with agility to evolving tax relief measures
- Challenging times have prompted many payroll departments to modernise their systems and processes in anticipation of even more change to come
Business
Sharjah Ramadan Festival to offer deals and discounts
The festival is organized by the SCCI in cooperation with local government departments, bodies, institutions, and the private sector.
- The 32nd edition of the festival comes after the SCCI launched an integrated strategy under the theme Sharjah Offers
- It will apparently feature activities to promote the experience across various regions and cities of Sharjah during Ramadan
Business
Evergreen ship runs aground
The Ever Forward ran aground in the Chesapeake Bay in the US.
- The accident came almost exactly a year after the 200,000-ton container ship MV Ever Given blocked the Suez Canal for six days
- The canal is a vital artery from Asia to Europe that carries 10 percent of global maritime trade and provides Egypt with vital revenue
Business
Qatar signs air services agreement with Jordan
The agreement is said to have been formally signed in Qatar’s capital city Doha.
- The Acting Chairman of Qatar’s General Authority of Civil Aviation, Mohammed Al-Hajri, inked the deal for his country
- Jordan’s Civil Aviation Regulatory Commission CEO Haitham Misto signed the agreement on behalf of his country
Business
Art sales hit all-time high in 2021, continue rapid growth in Asia
Art auctions saw a record year in 2021 with $17.1 billion (15.6 billion euros) in sales as the market continued...
- There was also the landmark moment when digital artist Beeple sold a NFT for $69 million, the third-highest figure ever paid for a living artist.
- Contemporary art -- counted as anything created after 1945 -- accounts for a growing share of sales, with 20 percent of the market, up from 3 percent in 2000.
Business
UAE e-commerce hits $5bn in 2021, may surpass $8bn by 2025
E-commerce in the UAE surged to over $5 billion in 2021 and is projected to surpass $8 billion by 2025,...
- More consumers in the UAE made online purchases across all categories during 2021, compared to 2020, with 75 percent of respondents typically purchasing online.
- The UAE and Qatar are on top, with GDP-per-capita above $40,000 and internet penetration above 90 percent.
Business
Digital art in spotlight as Dubai makes crypto bid
Art Dubai, the Middle East's largest annual contemporary art fair, has featured for the first time digital works, as the...
- This year, in its 15th edition, the three-day fair hosted more than 100 local and foreign art dealers
- Local NFT platforms have welcomed the move as good for business, with crypto holders increasingly interested in digital art
Aramco CEO highlights collaboration with Beijing at forum in China
AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...
Business
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KEZAD Group, GFCF ink deal
Business
UAE explores partnership with China in labor and human resources
Dubai, UAE - UAE and China explored opportunities for the two countries to cooperate and exchange experiences in areas related...
Business
QatarEnergy inks pact with Marubeni
QatarEnergy will supply naphtha to Marubeni for 10 years.
Business
Iraq’s oil revenues hit nearly $9bn in Aug: Ministry of Oil
Baghdad, Iraq -- Iraq's oil revenues in August hit nearly $9 billion, according to the data issued by the Iraqi...
Business
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Business
Masdar, PLN NP sign expansion pact
They will develop Phase II of Indonesia's Cirata project by up to 500MW
- The initial 145MW phase of the innovative floating PV project, located in the picturesque Cirata reservoir in West Java, Indonesia, is expected to come online later this year.
- Masdar opened an office in Jakarta, Indonesia, in 2021, to further strengthen links with key players within the region.
Business
India allows export of 75,000 tonnes non-Basmati rice to UAE
New Delhi, India - Indian government has given the green light for the export of 75,000 tonnes of non-basmati white...
- The decision comes in the wake of restrictions placed on non-basmati white rice exports on July 20 aimed at bolstering domestic supplies
- However, exceptions are being made for authorized exports to foreign nations, particularly to meet their food security demands upon request
Business
Ford halts work on US$3.5 billion battery plant
The auto giant announced in February the project in Marshall, Michigan as a way to diversify its battery profile away...
- The stoppage comes as the company faces a major strike along with both of the other "Big Three" US automakers
- Ford spokesperson insisted the decision about the $3.5 billion battery plant had not been related to the ongoing strike