Over 6,000 F&B companies join Dubai Chamber of Commerce in 2023
DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and...
Business
Business
Abu Dhabi Chamber and Mauritius EDB sign trade agreement
The Abu Dhabi Chamber of Commerce and Industry has signed a cooperation agreement with the Economic Development Board of Mauritius...
- The agreement will establish a framework for developing stronger business relations between the parties.
- The two sides will organize prospective business missions, study trips, commercial events, trade fairs, exhibitions and seminars.
Economy
IACE President warns Tunisia as a state can collapse
The President of the Arab Institute of Business Leaders (IACE) Taieb Bayahi has warned that Tunisia as a state could...
- He added that it is necessary to save the remaining urgently, stressing that "the current economic situation does not allow us to waste any more time
- In a report published this month, the forum ranked Tunisia among the five countries threatened by the spectre of the collapse of the state
Business
dnata of Dubai to invest $233m in Amsterdam Airport
dnata, the global air and travel services provider, will invest more than $223.22 million in a fully automated cargo center...
- dnata Cargo City Amsterdam will significantly enhance cargo capacity in The Netherlands and create new, direct jobs with dnata
- It will enable dnata and its customers to substantially expand operations and business, stimulating local economy and trade
Business
Arabian Centers to set up $14.65m microfinance company
FAS Labs Limited Co., a unit owned by Saudi retail firm Arabian Centers, will set up a digital consumer microfinance...
- According to a bourse filing, FAS Labs Limited Co. has obtained preliminary approval from the central bank
- The move comes as Arabian Centres aims diversify its income sources and enhance profitability
Business
Jordan signs Japan deal for AI-enabled support software
The two sides agreed on the project's overall framework, in addition to a draft accord detailing initial implementation phases.
- Jordan’s Ministry of Digital Economy and Entrepreneurship and Japan International Cooperation Agency (JICA) have signed an agreement
- The agreement lays out the main technical axes of a project to develop Jordan's artificial intelligence (AI)-enabled support system
Business
Qatar Financial Center’s systems benefit aircraft leasing firms: CEO
The Center’s proximity to the most important leading airlines in the world and its wide network of destinations make it...
- Yousuf Mohammed Al Jaida said the Center's proximity to leading airlines makes it ideal for aircraft leasing companies.
- Nearly 30 of the largest aircraft lessors in the world are looking forward to concluding deals with leading airlines that utilize their assets efficiently.
Business
Moro Hub teams up with Swedish firm
Moro Hub, the digital arm of DEWA, has signed an agreement with Axis Communications, a Swedish company, offering video surveillance...
- This partnership is part of Moro Hub’s effort to accelerate its drive to promote Integrated Physical Security in the UAE and GCC
- Moro Hub will now offer government and enterprise clients across varied verticals, including transport, utilities and energy, healthcare, retail and financials
Business
Arab Bank profit up 61%
The net income after tax rose from $195.3m to $314.5m.
- The Arab Bank Group consolidated the financial statements of Oman Arab Bank under its group accounts
- This increased total assets by $8.4 billion to $63.8 billion, compared to $54.4 billion for the same period last year
Business
Top oil producers to discuss high crude prices
Analysts expect that this meeting will decide to boost output by 400,000 barrels per day in March, in line with...
- The 13 members of OPEC along with their 10 allies convened by video conference to set output
- Russian invasion of Ukraine will halt export of natural gas to Europe and prices would be much higher
Business
Arab countries offer Iraq to set up industrial cities
Iraq signed the first agreement to build an economic city with Jordan.
- Iraqi ministry revealed that it has received several offers from Syria, Jordan, Saudi Arabia, Iran and Kuwait to build industrial cities in the country
- The first contract was signed in the holy Karbala for the construction of an industrial city specialized in petrochemicals and engineering
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Over 6,000 F&B companies join Dubai Chamber of Commerce in 2023
DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and...
Business
Company News
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Qatar’s trade balance surplus increases by 12.8 percent in July
Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...
Business
GCC optimistic about FDI growth despite hiccups
Despite a decline in FDI inflows in the past few years, GCC countries remain optimistic as they expect strong economic...
Videos
ChatGPT turns to business as popularity takes a tumble
ChatGPT Enterprise will be powered by GPT-4, OpenAI's highest performing model, much like ChatGPT Plus, the company's subscription version for...
Business
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Interview
Kross Studio redefines high-end horology by crossing tradition and innovation to tick luxury revolution
Launched amidst the pandemic, Marco Tedeschi's venture seamlessly blended traditional watchmaking with modern technology, collaborating with major brands to achieve...
- Launched amidst the pandemic, Marco Tedeschi's venture seamlessly blended traditional watchmaking with modern technology, collaborating with major brands to achieve success.
- Kross Studio partnered with franchises like Star Wars and Game of Thrones, offering timepieces priced between $90,000 and $150,000, with the Middle East as a prime market.
Business
UAE’s PureHealth acquires UK’s largest private healthcare group for $1.19bn
Dubai, Riyadh - PureHealth, the largest healthcare group in the Middle East, has entered into an agreement to acquire Circle...
- The acquisition aligns with their broader expansion strategy, which encompasses acquisitions in the US and other international markets
- Circle Health Group, with over 50 hospitals spread across the UK, is known for its extensive network of private healthcare facilities
Business
ICIEC, SAPICO ink pact
Pact to enhance commercial activities between the two.
- The ICIEC is a member of the Islamic Development Bank (IsDB) Group and a leading Shariah-compliant multilateral insurer.
- This partnership aligns with both parties' shared vision of fostering international trade and economic development.