UAE’s e-commerce sector projected to earn $9bn revenue in 2024
Dubai, UAE - The UAE's online shopping market is gearing up for unprecedented growth, with revenue projections hitting $9 billion...
Business
Non-Jordanian investors own 47% of ASE market value as of February 2024
AMMAN, JORDAN – Data released by the Amman Stock Exchange reveals that non-Jordanian investors bought shares worth US$12.5 million (JD8.9...
Market Report
Business
Samsung eyes Biogen for $42bn
Biogen is known for its Alzheimer’s drug Aduhelm.
- Biogen is known for medicines to treat multiple sclerosis in addition to Aduhelm
- It was founded in 1978 by a team that included Nobel Prize winners Walter Gilbert and Phillip Sharp
Business
Dana Gas receives $39 million payment from Egyptian government
Dana Gas has received a payment of $39 million (AED143 million) from the Egyptian Government in December, the company announced...
- The payment reduced its receivables in Egypt below $30 million to its lowest levels since commencing operations there in 2007.
- Dana Gas has invested over $2 billion since first entering Egypt in 2007 and is currently the fifth-largest gas producer in the country.
Business
Saudi designates China’s NIPA as patent searching and examining authority
The Saudi Authority for Intellectual Property (SAIP) has designated the National Intellectual Property Administration of China (CNIPA) as International Searching...
- The move allows international patent applicants in the kingdom to select CNIPA to issue international search reports for their applications.
- Saudi authorities see the development as an enhancement of cooperation between the two sides in the field of intellectual property.
Arts & Culture
Turkish crisis turns books into vanishing luxuries
The Turkish book industry pinpoints one of the flaws in the economic experiment Erdogan has unleashed on his nation of...
- The Turkish book industry pinpoints one of the flaws in the economic experiment Erdogan has unleashed on his nation of 84 million people in the past few months
- Turkish Publishers Association president Kenan Kocaturk said the coronavirus pandemic has contributed to book industry's problems by raising the price of unbleached pulp
Interview
‘Digital currencies are GCC future’
Payment landscape in Gulf countries is headed for a significant change, Ralf Wintergerst, Group CEO of G+D tells the TRENDS....
- Payment landscape in Gulf countries is headed for significant change as it’s among the fastest-growing e-commerce markets, Ralf Wintergerst tells the TRENDS
- Many central banks in the GCC region are already testing in sandbox environments to simulate a digital currency under real-world conditions, Wintergerst added
Business
‘Robot chef’ makes steaks at Israel restaurant
The "robot chef", which is the size of a large oven, can make three different steaks simultaneously -- though a...
- It mixes ingredients including beans, potatoes and chickpeas to create a texture that resembles that of real meat, says CEO of an Israeli startup.
- Around five percent of Israelis say they are vegan and the market for meat alternatives is on the rise.
Business
Dubai Chamber to start four-and-a-half day working week from Jan 2022
Dubai Chamber has announced that it will shift to a four-and-a-half day working week from 3 January 2022. This is...
- The new working week is in line with the newly approved workweek for UAE federal government employees.
- The official working hours will be nine working hours per day Monday-Thursday, from 8am to 5pm, and four working hours on Friday, from 8am to 12pm.
Business
Kuwait’s Warba Bank celebrates listing of $250m Sukuk on Nasdaq Dubai
Kuwait's leading Islamic bank, Warba Bank, celebrated the listing of the bank's $250 million perpetual Tier-1 Sukuk on Nasdaq Dubai...
- This was the third listing after a $250 million and a $500 million instrument in Mar 2017 and Oct 2019 respectively.
- The new listing brings the total outstanding value of the bank’s Sukuk on the exchange to $898 million.
Economy
Jordan tourism revenues pass $21 million in first 11 months of 2021
The total number of tourists coming to the Kingdom in the period has surpassed 2.1 million, while the number of...
- The total number of tourists coming to the Kingdom in the period has surpassed 2.1 million, while the number of overnight tourists has inched up by 8.9 percent
- Jordanian Minister of Tourism Nayef Al-Fayez said that the National Tourism Strategy is geared to attract more tourists than recorded in 2019, before the outbreak of the pandemic
Business
Etihad signs China deal
The airline will work with the Henan Province Airport Group.
- The virtual MoU was signed during the virtual Zhengzhou Week event at the China Pavilion at Expo 2020 Dubai
- It is said to contain plans for Etihad’s potential operation of regular cargo services between Abu Dhabi and Zhengzhou
UAE’s e-commerce sector projected to earn $9bn revenue in 2024
Dubai, UAE - The UAE's online shopping market is gearing up for unprecedented growth, with revenue projections hitting $9 billion...
Business
Company News
ADNOC L&S secures big contract
Business
Latest News
Dubai’s realty builds on innovation and sustainability
Dubai's skyline epitomizes modern development, with its appeal bolstered by strong property management and developers capitalizing on increasing sales.
Business
EU okays updated Pfizer and BioNTech’s anti-Covid vaccine
Adults and children over five require a single shot "irrespective of their Covid-19 vaccination history" while younger children may get...
Geostrategy
Lego first half profit dips 17%
But the toy giant's market share grew as sales rose slightly.
Business
Most Read
Business
GCC asset management market $500bn by 2026
Strong capital inflows, a young and growing population and growing awareness about asset management will drive the sector's growth in...
- The rise of a middle class is increasing the demand for investment products and services.
- Strategy& Middle East estimates that currently more than 70 percent of regional private wealth is in offshore accounts.
Business
UAE first half non-oil foreign trade hits all-time high of $337 billion
The results are buoyed by record non-oil exports, which reached AED 205 billion in H1 2023, an 11.9 percent growth...
- Imports increased to AED 693 billion, up 17.5 percent compared to the first half of 2022 and 2.6 percent more than the second half of 2022.
- China has retained its position as the UAE’s leading global trading partner, followed by India, the US and Saudi Arabia.
Business
Saudi Arabia’s imports from GCC countries fall by 19% in June
Riyadh, Saudi Arabia -- Saudi Arabia’s imports from Gulf Cooperation Council (GCC) countries fell 19 percent year-on-year (YoY) to SAR...
- UAE accounted for 65.6 percent, or SAR 3.61 billion, of the total Saudi imports, down 13 percent YoY, Argaam reported.
- The Kingdom's imports from Qatar only registered a growth (of 49 percent) to SAR 48 million, from 32 million a year ago.