Business
UAE, Morocco discuss cooperation in investment and economy
The two sides talked about Expo 2020 Dubai and the importance of the Arab countries' participation therein.
- The discussion took place in a meeting between UAE Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan and Morocco Prime Minister Aziz Akhannouch
- They are also said to have reviewed the latest developments in the Arab region and exchanged views over a number of regional and international issues of common interest
Business
Ecommerce is fastest-growing channel in ME
In the Middle East, Saudi Arabia, Egypt, and the UAE account for nearly 80 percent of the overall ecommerce market.
- A PwC report indicates that UAE consumers are making purchases on smartphones (53 percent), computers (39 percent) and tablets (31 percent)
- As a result, the UAE’s retail ecommerce market reached $3.9 billion in 2020, indicating a 53 percent year-on-year increase
Grankraft to invest in Hamriyah
Grankraft has leased 323,000 sq ft of land in the free zone.
- The MoU was signed by Hamriyah Free Zone Authority Director Saud Salim Al Mazrouei and Grankraft Director J George
- George said his company was always looking for new ways to develop its services and build landmarks
Market Report
Gulf stocks rebound after selloff
The Abu Dhabi index recorded a weekly loss of 4.8 percent, its deepest plunge since March 2020.
- The Abu Dhabi index recorded a weekly loss of 4.8 percent, its deepest plunge since March 2020
- Saudi index gained 0.6 percent on Thursday backed by a 0.9 percent rise in Al-Rajhi Bank
Business
Canada climate crisis impacts agricultural production and supply chains
Flood devastation, heavy rainfall, and Drought in Canada cause severe damage to the food supply chain and agricultural production.
- Japan's McDonald has been forced to ration fries as the British Columbia floods jam potato imports
- Canada's westward supply links are very, very vulnerable and not resilient enough to climate change
Business
McDonald’s Japan rations fries
It will sell only small-sized French fries for a week.
- McDonald’s said it is limiting fries’ sale in Japan to ensure that customers can still order them
- This, even though the ‘stable procurement of resource materials’ is proving difficult
Business
An old Greek Cargo Ship attracts tourists in Saudi Arabia
The ship was loaded with foodstuffs and sailed in 1978 from a Greek port towards the Aqaba port in Jordan,...
- Georgios-G was built in the UK with a length of 71.6 meters, a width of 11 meters, and a height of 4.9 meters
- Currently, the ship is resting in the same place with more than two-thirds of its structure submerged in water
Business
Over 2,000 flights cancelled as Omicron hits holiday travel
Estimates from the American Automobile Association revealed more than 109 million Americans were scheduled to travel by plane, train or...
- According to tracking website Flightaware.com at 1540 GMT on Friday, a total of 2,118 flights had been cancelled worldwide
- Pilots, flights attendants and other staff have been calling in sick or having to quarantine after exposure to Covid
Business
Russia fines Google $98m
The fine was for repeatedly failing to delete ‘illegal’ content.
- Russia has piled fines on the world's biggest internet platforms, accusing them of not moderating their content properly
- But so far fines on Facebook parent company Meta, Twitter, and Google have stretched into the tens of millions of rubles, not billions
Business
Omicron cloud intensifies over Consumer Electronics Show
Google, Lenovo, and Intel are the latest global tech companies to bow out of the January 2022 Consumer Electronics Show...
- The popular four-day conference, which had planned for a grand return, is still scheduled to start January 5
- But this week Facebook parent company Meta, Amazon, T-Mobile, and Twitter canceled their appearances
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
Company News
Advanced secures $586m loan
Business
Latest News
Sharjah records real estate deals worth $517 million in July
Sharjah, UAE -- Sharjah has recorded real estate transactions worth AED1.9 billion ($517 million) during July 2023, according to the monthly...
Business
Ooredoo partners with Tech Mahindra, Google Cloud
Doha, Qatar - Ooredoo Group has announced new partnerships with Tech Mahindra and Google Cloud that will see the company...
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Business
ADNOC Gas signs 5-year LNG supply pact with Japanese energy company
Abu Dhabi, UAE - ADNOC Gas, an integrated gas processing company, on Thursday announced a five-year liquefied natural gas (LNG)...
- The agreement, valued between $450 million and $550 million, builds on the long-standing bilateral relationship between the UAE and Japan
- The pact reinforces ADNOC Gas’ position as a global LNG export partner of choice and highlights the company’s growing global presence
Economy
Saudi economic support vital for progress in various sectors: Yemen PM
Aden, Yemen--Yemeni Prime Minister Maeen Abdulmalik affirmed that the economic support Saudi Arabia provides to Yemen represents a vital factor...
- The prime minister said during a cabinet meeting the kingdom's support strengthens the Yemeni government's effort to achieve economic stability
- The kingdom early this month endorsed a $1.2 billion grant to Yemen’s internationally recognized government to prop up the country’s flagging economy
Business
Meeza to list on QSE
Its shares will begin trading on the bourse later this month.
- The company recently obtained the approval from the Qatar Financial Markets Authority (QFMA) and the QSE's board for a listing on the exchange
- The company's price will be floated on the first day of the listing and from the second day it will be allowed to fluctuate by 10% up or down