Global LNG demand to rise more than 50 percent by 2040: Shell
"Demand for natural gas has already peaked in some regions but continues to rise globally, with LNG demand expected to...
Business
Business
UAE and Mauritius stress boosting economic, commercial relations
The UAE and Mauritius have stressed the importance of boosting economic and commercial relations between the two countries. A meeting...
- Mohamed Hadi Al Hussaini, UAE Minister of State for Financial Affairs, and Renganaden Padayachy, Mauritius Minister of Finance at its Dubai headquarters.
- The meeting took place on the sidelines of the Mauritian delegation’s visit to Expo 2020 Dubai.
Business
Al Arabia of KSA sets up a joint stock firm in Egypt
Al Arabia also known Arabian Contracting Services Co., has set up a joint stock company in Egypt with United Media...
- The outdoor advertising company said in a statement to Tadawul that it aims to bring about “a qualitative leap” in the sector in Egypt
- The joint stock company will operate under a 25-year agreement and establish at least 120 advertising screens in Egypt
Business
UAE and Russia foreign trade reaches $4 billion in 2021
The total foreign trade between Russia and the UAE is set to reach around $4 billion by the end of...
- In 2020, the trade between the two countries amounted to $3.3 billion, said Sergey Cherimin, Minister of the Government of Moscow.
- Russian companies have opened offices in the UAE, and today there are more than 4,000 of them, the minister said.
Business
SEDCO of Saudi Arabia to hike REIT fund by $187m
SEDCO Capital of Saudi Arabia has launched an additional offering of its real estate investment trust fund to increase asset...
- The offering period will run for five days until Dec. 16, the company said in a statement
- SEDCO Capital wants to increase the total asset value of the fund, as well as raise additional equity up to SR575 million
Videos
Reasons behind shortening UAE’s workweek
This week's TRENDS Explainer video tries to find the rationale behind curtailing the number of days in the UAE's workweek...
- The Gulf country is transitioning to a 4.5-day workweek. Now, weekends will consist of Friday afternoon, Saturday and Sunday
- The move makes the UAE the first nation to formalize a workweek shorter than five days. It also brings the country more in line with Western schedules
Business
Emirates Health Services to upgrade executive regulations
The Emirates Health Services (EHS) is looking to upgrade executive and financial regulations and ways to develop the capabilities of...
- The EHS board of directors discussed various ideas at a meeting at its headquarters in Dubai
- The board members reviewed the agendas of the meeting as well as the latest developments and reports submitted by EHS departments to evaluate their performance
Business
UAE launch trials of autonomous taxis
The UAE last month approved a temporary license to test self driving taxis on the roads with safety officer sitting...
- Bayanat started the trial of two electric and two hybrid taxis under the name TXAI
- Dubai will launch 4,000 self driving taxis by 2030
Business
Empower lists on DFM
Empower is the world’s largest district cooling services provider.
- Empower was established in 2003 to enable the real-estate sector to efficiently utilize energy through district cooling services
- The company is said to currently have a 79 percent market share in Dubai’s district cooling sector
Interview
Consumer ‘experience’ reshapes retail in the Gulf
Companies are increasingly focusing on health and wellness in products and services, says Mohammad A Baker, Deputy Chairman and CEO...
- People, communities, and governments are working to attain personal sustainability goals driving the retail sector
- GCC governments have established several measures targeted at raising awareness of healthy lifestyles
Business
Jordan exporters eye ‘promising’ Canada market
Jordan Exporters Association Khudari said the FTA between the two countries, which came into effect in 2012, provides "various and...
- Khudari stressed on the JEA's keenness to develop the businesswomen's capabilities and engage them in international trade
- Khudari lauded the TFOC's role in implementing programs in cooperation with the JEA to help Jordanian companies and businesswomen
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
Latest News
KIB posts $19.5m net profit
The bank's total operating income reached approximately $115 million.
Business
DP World boosts global supply chain resilience with major capacity expansion
DUBAI -- DP World expects to add approximately 3 million Twenty-Foot Equivalent Units (TEUs) of new container handling capacity by...
Business
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Business
Dubai Chamber of Commerce achieves 46.7% success rate in mediation cases
DUBAI -- The Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, has revealed that it...
- The combined value of mediation cases received during H1 2023 reached US$11.5 million, with US$5.7 million resolved
- Mediation offers advantages such as flexibility, speed, efficiency, and confidentiality, saving time, effort, and money
Business
Mawani adds 20 cargo services to Saudi Arabia’s ports in H1
Riyadh, Saudi Arabia -- The Saudi Ports Authority (Mawani) has added 20 cargo services to the ports of Jeddah, Dammam,...
- Transshipments gained 12.19 percent over the prior year’s volume of 1,391,221 TEUs to reach 1,560,790 TEUs in H1 2023.
- A total of 5,918 vessels called at Mawani’s ports during this year’s first half, up 10.68 percent year-on-year from 5,347 ships.
Business
ADEX and Egypt sign wheat, commodities financing agreement
Abu Dhabi, UAE -- Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has...
- The agreement entails a revolving financing program valued at S100 million, to be renewed annually over a five-year period, ultimately reaching a total of $500 million.
- The UAE’s support has contributed to the establishment of 25 silos in 17 governorates of Egypt, increasing wheat storage capacity by 1.5 million tons.