Dubai to host the world’s biggest ‘airport industry show’ in May
Dubai, UAE-- In the month of May scores of airport developers, officials, and suppliers from around the world will troop...
Oil may rise to $100, gold to hit $3,000 by 2025, says Citi
ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce...
Economy
Business
ADNOC is UAE’s most valuable brand for 4th year
ADNOC maintained in 2022 its position as the UAE's most valuable brand for the fourth consecutive year, according to a...
- ADNOC's US$12.76 billion (AED47 billion) brand value witnessed a 19 percent increase over the previous year
- ADNOC ranked the first valuable brand in the UAE, the second in the Middle East and North Africa
Business
Micrsoft startups opens second round of GrowthX Accelerator Program
Microsoft for Startups Middle East Wednesday announced it has opened a second round of applications for Microsoft for Startups’ highly...
- GrowthX Accelerator and Highway to 100 Unicorns are part of a strategic partnership between Microsoft and the Abu Dhabi Investment Office.
- The GrowthX Accelerator brings together corporates with challenges and startups that can build field-ready solutions.
Business
Arabian Healthcare and CommonSpirit to boost alliance
Ras Al Khaimah is taking steps to further enhance its growing healthcare sector through the continuation of an alliance between...
- The critical areas of collaboration with CommonSpirit will include digital innovation, training and education, clinical alignment, care coordination
- Among the care centers widely recognized with clinical expertise in DHI’s US network are the Barrow Neurological Institute in Phoenix, Arizona
Business
Emirates NBD’s profits jump 34%
Dubai's largest bank sees its net profits rising to $2.5 billion in 2021 from $1.9 billion in 2020.
- The bank, the second largest lender in the United Arab Emirates, said its net profits rose 34 percent to $2.5 billion, from $1.9 billion in 2020.
- The bank has set aside $1.6 billion in impairments, covering loan losses, a 26-percent decrease from last year, due to improving economic conditions
Business
Istanbul’s snowed-in airport stirs back to life
Istanbul Airport closed on Monday for the first time since it took over from the old Ataturk Airport as the...
- Istanbul Airport closed on Monday for the first time since it took over from the old Ataturk Airport as the global hub of Turkish Airlines in 2019
- Fuming passengers complained on Twitter about a lack of regular updates from Turkish travel officials and poor customer service
Business
Jordan, Tunisia discuss economic cooperation
The discussion happened at the first session of the Jordanian-Tunisian Joint Trade Committee.
- The meeting was attended by Secretary-General of Jordan’s Ministry of Industry, Trade and Supply Dana Al-Zoubi
- Head of the Cabinet of Minister of Trade and Export Development in the Tunisian Ministry of Trade, Khaled bin Abdullah, also attended
Business
Paramount picks new group CEO
Steve Griessel, the new CEO of the Paramount Group will be providing strategic, financial and operational leadership to the company...
- South Africa born Griessel has served several companies as CEO in South Africa and the US
- Griessel has business leadership and senior management experience of more than 30 years
Business
Masdar, W Solar Investment partner to develop renewable energy projects
Masdar, one of the world’s leading renewable energy companies, and W Solar Investment, a subsidiary of Alpha Dhabi Holding, and...
- The new company, MW Energy Limited, will act as a development platform, focusing initially on a pre-identified pipeline of projects
- The JVC will focus initially on the development of pre-identified projects, primarily in Africa and in the Commonwealth of Independent States (CIS) region
Economy
Tourism helps UAE add $158bn to GDP in six years
Around 31 million visitors are expected to enter the UAE yearly by 2025 as the country has initiated several measures...
- UAE’s total annual visitor spending is expected to reach about $64bn in 2028.
- Tourism is expected to contribute $76bn annually to the UAE's GDP by 2028.
Geostrategy
Saudi Arabia, Romania sign wide-ranging defense agreement
Saudi Arabia and Romania signed on Tuesday a defense cooperation agreement that covers training, exchange of expertise, technologies, developing communications...
- The pact includes training, exchange of expertise, technologies and developing communications systems.
- The agreement is in line with the two sides’ commitment to promote and encourage international peace, media reports said.
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Dubai to host the world’s biggest ‘airport industry show’ in May
Dubai, UAE-- In the month of May scores of airport developers, officials, and suppliers from around the world will troop...
Company News
Latest News
China developer Evergrande plunges as Hong Kong trading resumes
The resumption of trading came after the company said in a filing on Friday that it had met guidelines set...
China EV giant XPeng to buy rival for over $740m
Founded in the southern province of Guangdong in 2015, XPeng is one of dozens of Chinese startups to emerge in...
Barclay family seeks Telegraph control with UAE investor support: report
Dubai, UAE - The Barclay family is reportedly making a bid to regain control of the Telegraph newspaper group. Months...
Business
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Business
Evergrande posts H1 loss
Firm said it has $556 million remaining in cash assets.
- The developer's January-June losses amounted to 33 billion yuan ($4.53 billion), compared to 66.4 billion yuan lost in the same period last year.
- Its statement on Sunday estimated its liabilities now stood at almost $328 billion, down from nearly $340 billion at the end of 2022.
Business
Iran hopes joining BRICS likely to enhance trade and business
Tehran, Iran - Iran’s membership in the BRICS group will lead to the promotion of exports and trade activities, an...
- Logical policymaking and decisions will lead to positive achievements for the country after joining BRICS, the Iranian official Arsalan Ghasemi said.
- BRICS is a club of emerging economies that constitute a large population in the world and this opportunity should be used optimally, he added.
Geostrategy
Iran says European countries willing to buy our drones
TEHRAN, IRAN - A number of European countries have asked to purchase Iran’s unmanned aerial vehicles, the spokesperson for the...
- A spokesperson for the Iranian Defense Ministry said Tehran is prepared to export military drones after fulfilling its domestic needs,
- Political and security considerations will be taken into consideration before finalizing such deals, the spokesperson added.