Jafza reports 28% year-on-year growth in 2023 of new Indian companies
DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the...
Business
Shifting dietary trends boost MEA’s protein market
Rise of flexitarian and vegan diets in the region is driving demand for alternative proteins, with the market expected to...
Business
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.
Business
Top Saudi Arabian companies pay stable to higher dividends in 2021
Saudi Arabia's 10 biggest companies witnessed the recovery of dividends paid out to investors in 2021, as the economy began...
- Energy giant Aramco, with over SR7 trillion in market value, paid each shareholder SR1.05 per share for the first nine months of 2021, nearly the same as in 2020.
- The eighth biggest listed firm in the Kingdom, SABIC Agri-Nutrients, yielded 2.5 percent on a stock price of SR172, and offered its highest dividend policy since 2015 this year.
Business
CES prepares to draw tech crowd despite Covid-19 surge
Multiple companies — including Amazon, BMW, and Microsoft — reduced or canceled their attendance as Covid-19 case numbers broke records,...
- The 2022 show was meant to be the triumphant return of an event that hosted some 170,000 people and more than 4,500 exhibitors
- Last year's event was online-only, with organizers saying it was ‘not possible to safely convene tens of thousands of people in Las Vegas’
Business
Alpha Dhabi Holding raises stake in Aldar Properties to 30%
Alpha Dhabi Holding (ADH) has announced the acquisition of an additional 17 percent shareholding of Aldar Properties. The acquisition will...
- The acquisition is in line with Alpha Dhabi Holding's recently announced expansion plan and future strategy
- Early this year, Alpha Dhabi Holding acquired a 12.8 percent strategic stake in Aldar Properties
Analysis
Factors that may impact oil’s demand-fueled recovery
At the global scale, 56.5 percent of oil reserves and 26.7 percent of natural gas reserves are owned by Arab...
- The financial crisis of the Arab countries will not ease unless oil prices, which will remain above $80 per barrel until 2025-end, come down
- Oil prices climbed by about $28.2 per barrel from January until October 2021, showing 51.2 percent increase over the 10 months
Business
Tesla delivers 1m cars
The increase is 87% over the previous year.
- Tesla announced last January that it was aiming to increase deliveries by 50% per year over several years
- Tesla has managed to overcome global logistics issues that have plagued the auto industry
Business
Jordan defers Covid-19-hit restaurants’ repayments till mid-2022
Issam Fakhreddin, the head of Jordan Restaurants Association called on tourist restaurants to submit a written request and a document...
- Issam Fakhreddin, the head of Jordan Restaurants Association called on tourist restaurants to submit a written request and a document of inability to repay.
- He also commended the government’s financial assistance packages, which had mitigated the Covid-19 pandemic-conduced repercussions on Jordan's restaurant sector
Business
Huawei revenues down 29%
Huawei is the world's biggest supplier of telecoms network gear.
- Huawei revenues went 29 percent down this year as US has barred Huawei from acquiring crucial components such as microchips
- Chief financial officer Meng Wanzhou, the daughter of Huawei founder released this year after spending three years under US extradition warrant house arrest in Canada
Business
Suez Canal revenues hit all-time high of $6.3bn in 2021
The revenues rose by $720 million, or 12.8 percent, in 2021 compared to 2020 when they were $5.6 billion.
- A total of 20,649 vessels flowed through the canal last year, an increase of 10 percent compared to 18,830 vessels in 2020
- The total net load through the canal in 2021 was 1.27 billion tons, against 1.17 billion tons in 2020: a difference of 8.5 percent
Jafza reports 28% year-on-year growth in 2023 of new Indian companies
DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the...
Business
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EGA H1 net profit $533 million
The firm expects growth in primary production and recycling business.
Business
Microsoft bows to EU competition concerns over Teams
In a bid to address the concerns, Microsoft will unbundle Teams from its Microsoft 365 and Office 365 suites in...
Business
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Business
SAMA licenses new company to provide E-wallet solutions
Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) licensed “Alhulul AlMubassatah Financial Company (SiFi)" to provide E-wallet solutions. With...
- With SiFi, there are now 25 licensed companies offering payment services in Saudi Arabia
- SAMA is endeavoring to support the payments sector and increase efficiency of financial transactions
UBS gives peek at operations after Credit Suisse merger
Analysts have said UBS's own operating results will surely "take a backseat" to interest in how the integration process is...
- UBS's second-quarter income statement will mark the first results presented since the mega-merger that rocked Swiss banking earlier this year
- Investors and employees alike are also eager for clues as to the fate of Credit Suisse's Swiss division, as well as what level of job cuts to expect
Business
Gulf Bank to up paid-up capital
It will be hiked by US$79.6m through a public offering.
- According to a bank statement, the offering will be at a nominal value of 100 fils, in addition to a share premium of 130 fils for each share
- The bank posted a net profit of $56.50 million for the first three months of the current year, a 15 percent rise as against the same period of 2022