Business
Aldar Properties of Abu Dhabi put on sale 182 boutique flats
Aldar Properties has announced that all 182 apartments at the second tower of its boutique Reflection project are now available...
- Reflection II is located at the heart of Reem Island, overlooking Abu Dhabi's mangroves, and with all units ready to move in during Q2 2022
- The second tower is being brought to the market to cater to specific demand from both home buyers and investors for high quality
Business
UAE lifts curbs on travel to 12 African countries
The United Arab Emirates has lifted curbs on travel to twelve African countries for citizens fully vaccinated and who have...
- It is okay now to travel to Kenya, Tanzania, Ethiopia, Nigeria, Republic of Congo, South Africa, Botswana, Eswatini, Lesotho, Mozambique, Namibia and Zimbabwe
- The authorities specified the categories of citizens who are allowed to travel to these countries
Business
Dubai South attracts 700 new companies by end of 2021
The total number of companies operating out of Dubai South reached 4,600, attracting more than 700 new companies by the...
- The total number of people working out of Dubai South was expected to reach 20,848 individuals by the end of 2021.
- Dubai South Properties handed over almost all its units at The Pulse, an urban mixed-use development comprising 1,400 apartments and 240 townhouses.
Business
Emaar EC reschedules SR976m loan with SABB
Emaar EC has signed a rescheduling agreement with the Saudi British Bank revising the terms of SR976.25 million Shariah-compliant outstanding...
- The amended terms of the facility also include a grace period up to June 2023 and a repayment starting from June 2023 until December 2029
- Before rescheduling, the financing period was from September 2014 until September 2021
Business
Facebook looks for answers as user numbers fall
Founder Mark Zuckerburg has told investors that people have a lot of choices for how they want to spend their...
- The company has been battling regulatory issues, negative headlines around bullying and disinformation.
- It lost one million daily users in the last quarter of last year but still has almost 1.9 billion, figures that dwarf every other platform.
Business
Sanofi posts strong sales
French pharmaceutical group's overall sales rises 4.8% to $43.3bn in 2021.
- While Sanofi has yet to produce a jab against Covid, its Dupixent drug, which also treats eczema, has been a huge success
- The company posted overall sales of 37.8 billion euros ($43.3 billion) in 2021, a 4.8 percent increase
Business
Dubai hosts 7m tourists in a ‘remarkable turnaround’
More than seven million foreign tourists visited Dubai last year, marking a "remarkable turnaround", the government of the Gulf city...
- The figure was up 32 percent on 2020, the first full year of the coronavirus pandemic, Dubai's economy and tourism department said in a statement
- This year, however, missile attacks since last month by Yemeni rebels on the United Arab Emirates of which Dubai is a member have prompted US and UK travel warnings
Economy
Oman signs three agreements worth $244m with Saudi Fund for Development
Oman has signed three agreements RO 94 million ($244 million) with the Saudi Fund for Development (SFD) for supporting SMEs...
- The first MoU dealt with supporting small and medium enterprises (SMEs) through a soft loan portfolio of RO 57.6 million.
- The second and third MoUs contribute to the funding of infrastructure projects in the Special Economic Zone at Duqm (SEZAD).
Business
Association of Iraqi Banks, Federation of Egyptian Banks sign MoU
The MoU was signed by the president of the association, Wadih Al-Handal in the presence of the Governor of the...
- The MoU was signed by the president of the association, Wadih Al-Handal in the presence of the Governor of the Central Bank Mostafa Ghaleb
- Al-Handal pointed out that the memorandum of understanding will also focus on establishing joint training programs
Business
Non-Jordan investors buy less, sell more at Amman bourse
The net of non-Jordanian investments during January 2022 showed a negative value of JD5 million ($7.05 million).
- The value of shares that were bought by non-Jordanian investors during January 2022 was JD11.2 million ($15.8 million)
- The value of shares sold by these non-Jordanian investors for the same period amounted to JD16.2 million ($22.85 million)
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Company News
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Business
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solutions signs $118m contract
Business
Another Saudi sports push: PIF buys stake in US mixed martial arts league
Combining elements of everything from boxing to judo and Muay Thai, mixed martial arts (MMA) had a limited following in...
Business
GCC asset management market $500bn by 2026
Strong capital inflows, a young and growing population and growing awareness about asset management will drive the sector's growth in...
Business
UAE first half non-oil foreign trade hits all-time high of $337 billion
The results are buoyed by record non-oil exports, which reached AED 205 billion in H1 2023, an 11.9 percent growth...
Business
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Business
Equities extend gains on US jobs data, China rate cut hopes
The mood was brightened by a report that China's biggest state-backed banks would slash rates on mortgages and deposits as...
- A separate report revealed consumer confidence falling owing to concerns about jobs, higher rates and lingering inflation.
- The readings come ahead of the release of the Fed's preferred gauge of inflation -- the personal consumption expenditures price index -- this week.
Business
Oil prices spike on US stockpile draw and hurricane fears
Dubai, UAE--Oil prices extended gains on Wednesday after industry data showed a large draw in crude inventories in the U.S.,...
- U.S. West Texas Intermediate crude futures gained 38 cents, or 0.47%, to $81.54, logging its fifth session of gains
- According to some analysts, the bigger-than-expected draw in U.S. crude oil stockpiles is positive for the oil market
Business
Global dividends hit record US$568 billion in Q2
According to a report by asset management firm Janus Henderson, payouts to shareholders are expected to grow further in spite...
- The report said banks accounted for half of the world's dividend growth as their margins were boosted by interest rate hikes
- Nestle, Swiss food giant, was the world's biggest dividend payer, followed by British bank HSBC and German automaker Mercedes-Benz