Qatar real estate trading volume amounts to US$382m in February 2024
DOHA, QATAR – The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at...
Business
UAE construction market soars to $94bn in 2023
Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of...
Economy
Business
Jordan Banking Organization honors former Jordan’s Central Bank Governor
The Association of Banks in Jordan (ABJ) held a ceremony to honor the former Governor of the Central Bank...
- The ceremony was held via teleconference, and attended by Jordan's Prime Minister Bisher Khasawneh, CBJ Governor Adel Sharkas.
- Chairmen and CEOs of more than 59 banks were present at the felicitation ceremony.
Business
UAE sets up “Coders HQ” to boost coding communities
The UAE government has launched the Coders HQ, a new transformational project that re-defines local coding communities, in partnership with...
- The project, established in the Emirates Towers, aims to build a new generation of coders, enhance their capabilities and skills in the fields of coding and technology
- The project was launched in a virtual ceremony organized by the National Program for Coders, in the presence of Omar bin Sultan Al Olama, Minister of State for Artificial Intellige
Business
Abu Dhabi Department of Culture and Tourism sets $272 business license fee
In a bid to promote the growth of the tourism industry in Abu Dhabi, the emirate's Department of Culture and...
- License holders who currently pay varying fee amounts, depending on the level of business activity.
- Overall, the changes represent an almost 90 percent reduction in total license fee costs.
Business
Dubai enacts new law on seizure of property for public use
Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai and vice president and prime minister of the UAE, issued Law...
- The provisions of the Law will apply to the expropriation of property across Dubai
- The Law also covers special development zones and free zones including the Dubai International Financial Centre
Business
2021 best-ever year for DMCC, 2485 companies attracted to Dubai
 Dubai Multi Commodities Centre has said it recorded its best year on record as it attracted 2, 485 companies in...
- The authority also saw its best June, August, September and November, reaching a total of over 20,000 member companies.
- The significant attraction was seen in key target markets, including China, US, UK and Russia
Business
Khalifa Fund allys with eBay to help SMEs export goods
The Khalifa Fund for Enterprise Development has teamed up with eBay as the latest partner of the e-Empower initiative, under...
- The partnership aims to further enhance Abu Dhabi’s e-commerce ecosystem, while also being in alignment with the mandate to diversify the Emirate’s economy
- The collaborative partnership will see Abu Dhabi based SMEs and medium-large enterprises gain a variety of benefits to create growth
Business
Nokia expects strong 2022
The company said as a supply chain crunch and inflation are set to ease.
- The announcement follows a string of quarterly earnings surprises for the network equipment maker, which last October managed to boost its third quarter profits.
- Nokia now expects an operating margin ranging between 11 percent and 13.5 percent in 2022.
Analysis
Saudi Arabia could be a regional mining center
The expert opinion comes as Riyadh hosts the International Mining Conference, the largest of its kind in the Middle East...
- Saudi Arabia serves as a platform for global dialogue on mining prospects
- A dozen Saudi government entities will present investment prospects via an integrated platform
Jordan removes customs fees on more than half of imports
Cars, alcohol, and tobacco would not be exempted from customs fees, Jordanian Finance Minister Mohammad al-Ississ has said.
- The Jordanian government's order to reduce and standardize customs fees has been published in the official gazette
- It will come into force next week, ensuring that 53 percent of all goods are exempt from customs fees
Business
Airbus delivers 611 passenger jets in 2021
A320 family planes, which are most frequently used for short and medium-range flights, accounted for more than three-quarters of last...
- A320 family planes, which are most frequently used for short and medium-range flights, accounted for more than three-quarters of last year's deliveries
- Wide-body, two-aisle plane deliveries continued to lag, which reflected the much slower recovery in international flights
Qatar real estate trading volume amounts to US$382m in February 2024
DOHA, QATAR – The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at...
Business
Company News
Latest News
Iraq-Iran rail link to facilitate travel, tourism and medical treatments
Iraq's prime minister inaugurated construction work on what is slated to become the first railway line connecting the country to...
Geostrategy
Iraqi Trade Center to be launched at ACC’s headquarters in Jordan
AMMAN, JORDAN - Amman Chamber of Commerce (ACC) and the Iraqi Embassy here agreed to open Iraqi Trade Center at...
Business
Leather, knitwear industries contribute 2.4% to GDP, says JCI
AMMAN, JORDAN - Representative of the leather industries and knitting sector at Jordan Chamber of Industry (JCI), Ehab Qadri, said...
Business
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Economy
Saudi Arabia and Singapore pledge to ramp up economic ties
Singapore-- Saudi Arabia and Singapore have pledged to enhance economic cooperation between the two countries and also reviewed the challenges...
- The two sidies reviewed the state of their economic relations and also discussed the progress of Saudi Vision 2030 and its key programs
- The Saudi finance minister met with an array of private sector players and Singaporean government agencies and discussed financial cooperation
Market Report
Energy, commodity prices hurt profits of GCC firms
GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit...
- GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit declines, the banking sector thrived
- Energy, materials, and capital goods sectors faced y-o-y profit fell in Q2-2023 as Saudi Aramco's profits fell by 37.3%, while Dubai-listed companies saw a 28.6% profit rise
Geostrategy
Grain deal in focus as Putin, Erdogan all set to meet
MOSCOW, RUSSIA - Russian President Vladimir Putin will host his Turkish counterpart Recep Tayyip Erdogan on Monday, the Kremlin said, amid...
- Russia pulled out from the UN-backed grain agreement that Turkey helped broker in July, effectively revoking safe navigation for civilian ships sailing through the Black Sea.
- Turkey's foreign minister Hakan Fidan said on a visit to Moscow on Thursday that reviving the deal to ship Ukrainian grain across the Black Sea was "critical" for food security.