WSG has ushered in a new decade of positive impact: Hamid Al Zaabi
Dubai, UAE-- The World Governments Summit (WGS) has ushered in a new decade of positive impact, inspiring governments and societies...
Business
UAE economy posts best growth rates in comparison to others: IMF official
Dubai, UAE-- The UAE's economy has recorded the best growth rates in comparison to other economies in the region, according...
Economy
Business
Iraq to increase oil production, says minister
The oil production in Majnoon Oil field will be increased to 450,000 barrels per day, said the Oil Minister of...
- He inaugurated the two buildings of Majnoon Oil Field Production and Development Authority
- Majnoon field contributes to provide good quantities of gas fuel for the uses of operating electricity power plants
Business
A big haul of captagon shipments seized in Lebanon, Syria
Security forces in Lebanon and Syria said Saturday that they had seized two separate shipments of the banned stimulant captagon,...
- The pills were confiscated following raids this week on a storage facility in Bir Hassan, a neighborhood near Beirut's southern suburbs
- It said it arrested two men behind the operation, including one who was trying to flee the country through Beirut's airport
Business
Stolen Maradona watch found in India
Indian police have recovered a stolen watch customized for star footballer Diego Maradona and arrested a suspect behind the alleged...
- Police said they detained Wazid Hussain in the northeastern state of Assam and recovered a Swiss-made Hublot watch
- The 37-year-old had been working as a security guard since 2016 at a Dubai-based firm where memorabilia relating to the Argentinian footballer were stored
Business
KNPC warns people not to fall for ‘dubious’ online ads
Kuwait National Petroleum Company (KNPC) has denied offering shares for trading, warning social media users not to believe in some...
- The company's Deputy CEO for Administrative and Commercial Affairs and Official Spokesman Ahed Al-Khrayef said unknown entities have recently posted ads
- "These ads are totally divorced from reality, and the company has nothing to do whatsoever with these ads," he affirmed
Business
Exports of ACI soar 16% in first 11 months of 2021
Exports of Amman Chamber of Industry (ACI) have soared 16% during the past 11 months of 2021, compared to the...
- Most industrial sectors recorded an increase in exports of their products during the January- November period of 2021
- The United States of America, India, Saudi Arabia and Iraq accounted for the majority of ACI's exports during the past 11 months of 2021
Business
African migrants fuel recycling in Turkey capital Istanbul
Afghans have joined Kurds, the Laz, Roma and other ethnic minorities and undocumented migrants in doing work others snub. For...
- Diving headfirst into dumpsters, these migrants dig up plastic bottles, glass, and other waste they then sort and sell in bulk
- This is a self-organized, unregulated business that keeps the city clean, and these impoverished people fed
Business
Saudi prince ends GCC tour with Kuwait
Saudi Arabia and Kuwait pledged to enhance bilateral cooperation and coordination in security, military, and economy.
- The two countries agreed to boost all means of cooperation on international climate policies
- They are expected to do this by implementing the Green Middle East Initiative launched by the Saudi crown prince
Business
UAE and Uzbekistan to ‘prepare government leaders’
The UAE and Uzbekistan have joined hands to launch a four-month ''Uzbek Government Leadership Program'' to prepare a generation of...
- The new program seeks to enable the participants to identify the best skills in specialized fields, through virtual workshops and dialogue sessions
- It will further organize knowledge visits to a number of government departments
Business
Qatar and ExxonMobil sign Cyprus gas deal despite Turkey opposition
US giant ExxonMobil and Qatar Energy signed a contract Friday for oil and gas exploration and production-sharing off the divided...
- It is the second gas exploration contract that the consortium has signed for Block 5 in the island's Exclusive Economic Zone.
- In February 2019, the consortium discovered a huge natural gas reserve off Cyprus in Block 10, the island’s largest find to date.
Business
Global Business Forum ASEAN ends, records 1,368 participants
A total of 1,368 delegates from 58 countries – including 250 virtual participants – attended the first edition of the...
- GBF ASEAN was held 8-9 December and organized by Dubai Chamber in partnership with Expo 2020 Dubai under the theme ‘The New Frontiers’.
- The Forum is part of Dubai Chamber’s flagship Global Business Forum series, which was launched in 2013 to explore economic opportunities in Latin America and Africa.
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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
WSG has ushered in a new decade of positive impact: Hamid Al Zaabi
Dubai, UAE-- The World Governments Summit (WGS) has ushered in a new decade of positive impact, inspiring governments and societies...
Business
Company News
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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...
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,...
Business
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Ceer and Siemens deal to boost EV in Saudi Arabia
Riyadh-based Ceer is collaborating with Siemens Digital Industries Software to accelerate Ceer’s digital transformation and empower its engineers to design...
- The Saudi-German collaboration is focused on accelerating Ceer’s digital transformation, vehicle development, and manufacturing
- Siemens Xcelerator portfolio of industry software for vehicle design will be used by Ceer
Business
Gulf Hotels Group profit up
It posted a jump in net profit in Q2 to US$2.92 million.
- The bank said its income was $2.92 million in Q2 of 2023 compared to $1.03 million for the same period last year
- Its revenue for the second quarter was $20 million, compared to $17.55 million for the same period last year
Business
Estithmar opens branches in Iraq
Two subsidiaries of the Qatari firm open two branches.
- Elegancia Healthcare, established a branch in Iraq in line with the memorandum of understanding that was signed recently to manage and operate several soon-to-be-opened hospitals.
- Estithmar Holding told Qatar News Agency that it signed agreements with the Iraqi investment authority worth $7 billion that includes real-estate and tourism development.