KEZAD Group, Al Ghurair Group’s APT ink lease pact to set up manufacturing facility
ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Group subsidiary Automotive Precision Technology (APT)...
Business
Business
Bahraini imports increase by 18 percent in Q4 2021
The value of Bahraini imports increased by 18 percent in the fourth quarter of 2021, reaching BD1.406 billion, the Information...
- The top 10 countries accounted for 71 percent of the value of imports, with the remaining countries accounting for 29 percent, Bahraini media reports said.
- The value of exports of national origin increased by 99 percent to BD1.192 billion during the fourth quarter of 2021.
Business
ADDED lays down strict rules on ‘hazardous materials’
ADDED has directed commercial and industrial facilities in the Emirate to license warehouses of hazardous materials away from their headquarters...
- ADDED has directed commercial and industrial facilities in the Emirate to license warehouses of hazardous materials away from their headquarters
- Special requirements, in line with criteria and stipulations of regulatory government entities were introduced
Business
Saudi energy minister says OPEC+ is independent
Prince Abdulaziz bin Salman, Saudi energy minister, has remarked that the OPEC+ group is independent and against any external interference...
- Prince Abdulaziz pointed out that the OPEC+ policy has succeeded in providing the oil market with the supplies it needs at all times
- Its decisions have come against a backdrop of pressure from countries such as the US, which want oil production drastically increased to tackle rising prices
Business
Citi to sell SE Asian biz for $3.6 bn
Singapore's United Overseas Bank will buy the franchises
- The total price of the Singapore's United Overseas Bank acquisition is Sg$4.9 billion ($3.6 billion).
- As part of the deal, around 5,000 Citi employees are expected to transfer to UOB, the lenders said.
Business
Football transfer values hit 5-year low in 2021: FIFA
A total of 18,068 transfers were registered, against 17,190 in 2020, a rise of 5 percent. The top 10 transfers...
- Spending on transfer fees was $4.86 billion, down 13.6 percent from 2020 and 33.8 percent from the record levels of 2019
- Players from France accounted for the highest amount of spending, with $643 million, displacing Brazil from the top spot
Business
Moody’s ranks QIIB ‘stable’
It has also has assigned the Qatari bank an A2 rating.
- Moody's said the rating reflects the bank’s position as one of Qatar's leading Islamic financial institutions
- It added that the financial institution has solid asset quality, profitability, liquidity, and capitalization
Economy
Bitcoin mining for all
Block is building a system to mine bitcoin.
- Block changed its name from Square late last year to denote a broader mission that includes blockchain and economic empowerment
- Hardware and software teams at Block will openly collaborate with the cryptocurrency community outside the San Francisco-based company
Geostrategy
China wants greater GCC role in global, regional affairs
GCC Secretary-General Naif Falah Al-Hajraf and Chinese State Advisor and Minister of Foreign Affairs, Wang Yi, also agreed on a...
- In a joint statement, the Chinese side is said to have praised the GCC’s achievements since its inception 40 years ago
- The two sides concurred on the completing negotiations on the free trade agreement between the GCC and China as soon as possible
Interview
Despite culture, MENA coffee business still nascent
The region’s coffee market growing rapidly creates new business opportunities, says Ali Al-Ebrahim, founder and CEO of COFE.
- Coffee consumption in MENA has experienced a massive shift, with sales growing at twice the global average
- Coffee has been at the heart of Middle Eastern culture for centuries
Economy
Climate change worsening toll on outdoor workers: Study
Researchers in the United States, who estimated the current cost at $2.1 trillion every year, said the effects of stifling...
- The researchers looked at data on humid heat — particularly dangerous because the body is less able to cool down by sweating
- The study, published in the journal Environmental Research Letters, said around 677 billion work hours are lost a year to humid heat
Most Read
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
KEZAD Group, Al Ghurair Group’s APT ink lease pact to set up manufacturing facility
ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Group subsidiary Automotive Precision Technology (APT)...
Business
Company News
Are ‘unethical’ PR tactics harming GCC journalism?
Investigation
Are ‘unethical’ PR tactics harming GCC journalism?
Investigation
Latest News
Markets surge as traders await Powell speech, Nvidia results
A rally in Nvidia helped propel gains in global markets earlier this week, though traders could not keep up the...
Business
Iran-China trade down 11 percent to $8.5 bn in seven months
Tehran, Iran -- The trade exchanges between Iran and China in the first seven months of the current year reached...
Business
Most Read
Business
GCC top export market for Dubai Chamber of Commerce members
Dubai, UAE -- The Gulf Cooperation Council countries were the top destinations for exports and re-exports of Dubai Chamber of...
- Saudi Arabia was named the top destination for members' exports, with the total value recording year-over-year growth of more than 15 percent to reach AED35 billion.
- Members' exports to Kuwait during H1 2023 were valued at AED12.8 billion, while exports to Qatar grew by 39.3 percent.
Business
Subway to sell for US$9bn
The fast-food chain has some 37,000 outlets across the world.
- In February, the company said it had hired JPMorgan to advise it on a possible sale, while saying it "remains committed to the future"
- A few months back, it unveiled a franchising agreement to open some 4,000 restaurants in mainland China over the next 20 years
Business
Saudi Esports Federation to launch ‘Next World Forum’ in Riyadh
Riyadh, Saudi Arabia--The Saudi Esports Federation will launch the "Next World Forum" on August 30 and 31 in Riyadh, at...
- Next World Forum will discuss opportunities in the gaming and esports industry valued to be at $170 billion globally
- The forum will also hold a discussion on the challenges women are facing in achieving leadership roles in the industry