35 Jordanian companies to participate in Gulfood 2024 in Dubai
AMMAN, JORDAN – A total of 35 Jordanian companies are taking part in Gulfood 2024, the world's largest annual food...
Business
Asian markets rally after Wall Street highs, oil prices slide
"The weakness of yesterday's US retail sales release have given market doves a new lease of life and allowed them...
Business
Business
Dubai’s Emaar group to develop shopping mall in Kashmir
The governments of Dubai and Jammu & Kashmir have signed a memorandum of understanding (MoU) to facilitate investment in the...
- The governments of Dubai and Jammu & Kashmir have signed a memorandum of understanding (MoU) to facilitate investment in the proposed project
- Emaar Properties entered the Indian real estate market in 2005 by partnering with India's MGF group and investing Rs 8,500 crore into joint venture Emaar MGF Land
Business
Dubai approves 600 housing loans worth $163m
The loans are to be provided by the Mohammed bin Rashid Housing Establishment as part of housing projects announced last...
- The decision reflects the vision of the emirate’s ruler Sheikh Mohammed bin Rashid to provide the best living conditions for Emirati families
- It is said to be in line with the Dubai 2040 Urban Master Plan that lays out a roadmap for sustainable urban development in the emirate
Business
US telecom firms agree to airlines’ call, delay 5G rollout
The move came a day after AT&T and Verizon rebuffed a request to delay the already delayed rollout, prompting airlines...
- AT&T and Verizon have agreed to postpone deployment of their 5G infrastructure after concerns were raised over aircraft interference
- A last-minute draft agreement first will see AT&T and Verizon put off the deployment of their new 5G frequency bands by 15 days
Business
Sonatrach plans $40bn investment
The Algerian firm will make the investments over five years.
- The $40 billion plan includes a refinery project at the largest oil field of Algeria, as well as an extension of the Skikda refinery to convert derivatives into fuel
- Sonatrach has also planned to put into service the fourth turbocharger of the Medgaz pipeline, which transports gas to Spain and Portugal
Interview
‘Challenging year ahead for logistics industry’
Companies have used innovative methods to keep their operations running while overcoming numerous challenges linked to Covid-19 pandemic. However, the...
- The limited capacity and high freight rates will remain until global vaccine campaigns gather traction
- Logistic companies who fail to recognize necessity of digital adoption will be left behind
Business
Apple hits $3trn valuation
It has become the first US company to reach that valuation.
- The iPhone-maker scaled the record level near 1845 GMT on Monday, January 3
- It reached $182.88 a share before slipping back slightly to end at $182.01
Ajman issues 41 percent more economic licenses in 2021
The economic licenses issued by the Department of Economic Development in Ajman (Ajman DED) during 2021 grew by 41 percent....
- The initiatives launched by the Ajman DED during the current year have resulted in a high growth rate of the Taziz Program to about 238 percent.
- The department signed 54 agreements during the current year, and the percentage of partners' satisfaction reached 85 percent.
Business
Emirates declared safest airline globally by Hamburg-based JACDEC
The Hamburg-based Jet Airliner Crash Data Evaluation Centre (JACDEC) has again named Emirates Airline as the world’s safest airline in...
- With a risk index of 95.05 per cent, Emirates beat its nearest rivals KLM (93.31 per cent), JetBlue (91.61), Delta (91.55) and easyJet (91.28) among the 25 airlines surveyed.
- In Europe, KLM (93.31) took first place, ahead of Finnair (93.16), Air Europa (93.12), Transavia (92.83), easyJet (91.28) and Norwegian (90.95).
Business
Syria to host three-day exhibition of Jordan’s trade and services
An exhibition of Jordan’s trade and services is scheduled to start next Tuesday in the Syrian capital, Damascus. The event...
- The event is jointly organized by the Jordan Chamber of Commerce (JCC) and the Federation of Syrian Chambers of Commerce (FSCC).
- Jordanian companies working in various sectors, particularly in trade, information and telecom technology will take part in the event.
Business
MAWANI and SCCA sign MoU
Both will create an environment for the settlement of disputes.
- The two sides agreed upon developing the skills of authority staff and those concerned with the maritime transport and ports sector.
- The pact also contributes to SCCA's endeavor to develop national ADR capacities by providing ADR services.
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35 Jordanian companies to participate in Gulfood 2024 in Dubai
AMMAN, JORDAN – A total of 35 Jordanian companies are taking part in Gulfood 2024, the world's largest annual food...
Business
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Hungarian companies want to expand work in Russia, says PM Orban
BUDAPEST, HUNGARY – Hungarian Prime Minister Viktor Orban said that companies from his country plan to expand their activities in...
Geostrategy
Indonesia president to participate in BRICS summit in South Africa
Jakarta, Indonesia--Indonesian President Joko Widodo departed for South Africa on Sunday to attend the BRICS summit in Johannesburg amid speculation that...
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Al Hilal wins over Fulham striker Mitrovic for US$64m
Saudi Arabia's football clubs continue to win over global stars with Serbian forward Aleksandar Mitrovic becoming the latest player to...
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Geostrategy
Over 113 Emirati projects in Ethiopia, trade exceeds $6bn, says UAE envoy
ADDIS ABABA, ETHIOPIA - UAE Ambassador to the Federal Democratic Republic of Ethiopia Mohammed Salem Al Rashidi said that the...
- Masdar signed a joint development agreement with the Ethiopian government in January 2023 in Abu Dhabi to develop two solar power plants.
- Ethiopia is a key investment partner for the UAE in East Africa, as it has a large and emerging consumer market of over 100 million people.
Economy
Oil prices inch up 1% on signs of slow US output, posts first loss in 8 weeks
Dubai, UAE--Oil prices jumped about 1% on Friday on signs of slowing U.S. output, but both crude benchmarks also ended...
- After industry data showed that the US oil and natural gas rig count fell for the sixth week in a row, both benchmarks pushed higher on Friday
- A worsening property crisis in China added to concerns about the country sluggish economic recovery as oil prices dropped about 2 percent from last week
Business
UAE’s investments in Ethiopia touch US$2.9bn as non-oil trade expands
Abu Dhabi, UAE-- As the UAE President Sheikh Mohamed bin Zayed visits Ethiopia to strengthen relations with the African country,...
- According to Dr. Thani bin Ahmed Al Zeyoudi, the investments encompass four key sectors: chemicals, food and beverages, aluminum and pharmaceuticals
- He said the country's re-exports to Ethiopia climbed 8.6 percent year-on-year to $553.3 million in 2022, continuing a strong upward trend since 2018