Brighter US economic outlook fuels global oil demand growth forecast
Rising fuel needs of ships rerouted away from the Red Sea also to increase demand, the International Energy Agency said....
Geostrategy
ADNEC to organize first Bitcoin MENA Conference in Abu Dhabi
Abu Dhabi, UAE--ADNEC Group has announced the launch of the region's first Bitcoin MENA Conference 2024 set to take place...
Business
Business
Dubai Land Department and three firms team up to provide real estate data
Dubai Land Department (DLD) has signed memoranda of understanding (MoUs) with three companies that specialize in providing smart and advanced...
- The department sigs MoUs with Bayut, DXBinteract.com, and Property Finder.
- Data will be provided according to real estate construction, including the regional buying and selling prices.
Business
Arada secures $41m in finance
The money will fund Aljada mixed-use project in Sharjah.
- While AED37m will finance a villa complex within the Aljada community, AED115m will fund the construction of the final phase of the SABIS International School.
- Founded in 2017, Arada has since launched three communities in Sharjah. Its first project, Nasma Residences, became Sharjah’s fastest-selling community.
Business
FTA appeals to tax registrants to benefit from extension
The Federal Tax Authority (FTA) has called on tax registrants to benefit from the Cabinet Decision to extend the grace...
- The FTA reaffirmed that the Cabinet Decision provided an opportunity for the business sector to benefit from the reduction of the administrative penalties
- It said it continues to review and audit the records of tax registrants who have fulfilled the requirements prescribed in the law
Business
Financial scam websites victimize 137,000 Arabs daily
Five different types of financial frauds are prevalent in the Arab world, with 24 criminal methods being used to reach...
- According to a review of 503 fake adverts, the number of daily visits from potential victims of these fraudulent sites reaches 137,000 per day
- The study stated that five different types of financial frauds are prevalent in the Arab world, with 24 criminal methods used to reach the victims
Business
Aldar and EWEC sign clean energy deal
EWEC will supply clean energy to all Aldar owned and managed assets.
- Aldar has increased its ESG ratings within two major global benchmarks, the Dow Jones Sustainability Index and Sustainalytics.
- EWEC is one of the key parties enabling the implementation of Abu Dhabi’s Clean Energy Certificate scheme.
Business
Sharjah Chamber and Syria look to boost mutual trade
Sharjah and Syria are looking at ways to increase economic relations and enhance partnership between businessmen and traders.
- In this regard The Sharjah Chamber of Commerce and Industry (SCCI) received a Syrian delegation led by Kinan Zahreddine, Syrian Consul-General in Dubai
- The meeting also reviewed potential investment opportunities to support economic cooperation and enhance the partnership between businessmen
Business
AD Ports, Eni Abu Dhabi sign pact
The two firms will establish a marine logistics base at Mugharraq Port.
- Mugharraq Port was recently recognized as an international port facility.
- Its new status enables it to receive and service a host of international and local vessels.
Business
Covid restrictions hit spending, slowing eurozone growth
Economic growth in the eurozone slowed sharply in January, a key survey showed Monday, as new coronavirus restrictions hit consumer...
- IHS Markit said that the sky-high caseloads for the highly contagious Omicron variant had disrupted consumer-facing services through staff absences
- Tourism, travel and recreation were "especially hard hit", said Chris Williamson, chief business economist at IHS Markit
Business
Israel okays UAE joint fund for high-tech investment
The Israel government has approved the plan for a joint fund with the UAE for investment in high-tech firms and...
- The proposal was brought to the government by Israel’s Minister of Foreign Affairs of the State Yair Lapid
- It was co-sponsored by the country’s Minister of Foreign Affairs of the State Orit Farkash Hacohen
Business
Investcorp inks $4bn deals in US
It acquired properties worth $2.5 billion, and made sales of $1.5 billion.
- Invescorp expanded its US platform with focus on industrial and residential sectors
- The team has acquired over 200 properties in 2021 worth $2.5 billion and has sold for $1.5 billion
Brighter US economic outlook fuels global oil demand growth forecast
Rising fuel needs of ships rerouted away from the Red Sea also to increase demand, the International Energy Agency said....
Geostrategy
Company News
Latest News
Saudi Arabia’s economy and fiscal position strong due to Vision 2030: IMF
Riyadh, Saudi Arabia-- Saudi Arabia's economy is in a state of prosperity and growth, and that the kingdom's fiscal position...
Economy
Rani R Raad is new CEO of IMI
International Media Investments owns and operates a portfolio of media outlets.
Business
Global trade finance gap grew to record US$2.5trn in 2022: ADB
The Asian Development Bank survey found that rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reduced the capacity...
Economy
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Business
Enbridge inks $14bn pact
The deal will make it North America's largest natural gas supplier.
- Enbridge, which operates the world's longest petroleum pipeline system, said it is doubling its gas distribution business with the acquisitions.
- The deal underscores the continued value producers are placing in natural gas even as countries strive to reduce fossil fuel dependence to curb greenhouse gas emissions.
Business
Apple, Facebook among tech giants to face tough new EU curbs
The European Commission, the EU's powerful antitrust body, named 22 "core platform" services belonging to five US tech behemoths identified...
- Brussels is working through a dense legislative agenda to build tougher regulation of big tech, arguing it needs to protect European consumers online.
- Observers say the law could open a new battlefront between digital titans and the European Union as some companies consider launching legal challenges.
Business
Production of pick-up trucks and vans in Iran rises by 52-70%
Tehran, Iran -- Production of pick-up trucks and vans in Iran in the first five months of the current Iranian...
- In total, 11,436 pick-up trucks were manufactured in the country in the first five months of the current Iranian calendar year.
- The number of vans produced in the country from March 21 to August 22, 2023 was 1,371, showing a 70 percent hike compared to the same period of last year.