Doha Bank bond issue oversubscribed four times
Doha, Qatar - Doha Bank has successfully issued $500 million in international bonds, garnering a total order book of $2...
Business
Recyclers try to conquer mountains of waste in Tunisia
Tunisian authorities are scrambling to find new sites as most of the country's 11 official dumping grounds will close by...
- Tunisia produces 2.6 million tones of waste each year, 85 percent of which ends up in landfills, while the rest goes into informal dumps
- National waste management agency of Tunisia recently admitted that it lacks resources to control the situation
Business
Oman agriculture ministry signs 4 deals worth more than $31m
The deals are in sectors ranging from livestock-rearing to vegetables, rabbits, and even Omani thyme.
- The biggest of the projects is expected to produce 22,000 tons of meat and target the production of fodder and by-products
- This project, worth RO11,387,000 ($29.62 million), will be on an area of 574 feddan (around 596 acre)
Business
MYCRANE expands to India
The Dubai firm has appointed an exclusive pan-India franchisee.
- The franchise partnership agreement was between MYCRANE and Sahil Freight Express Pvt Ltd was signed at Expo 2020 Dubai
- The crane market in India is expected to grow strongly in the coming years due to the expansion of roads and metro railways
Business
Moro Hub breaks ground for largest solar data center in region
The center will offer digital products and services using Fourth Industrial Revolution technologies, such as cloud services, the Internet of...
- The data center will be implemented by Moro Hub, a subsidiary of Digital DEWA, the digital arm of DEWA
- The carbon-neutral green data center will use 100% renewable energy with a capacity exceeding 100 megawatts
Business
Covid-19 rules shuttering Hong Kong aviation: Qatar Airways chief
Under Hong Kong's rules, if an airline brings in too many infected passengers on a particular route, it is banned...
- Qatar Airways CEO Akbar Al Baker took issue with a border-control rule that temporarily bans airlines that have brought in infected passengers
- Last month, British Airways announced it was suspending Hong Kong flights after crew members were required to quarantine following a positive Covid-19 test among the staff
Business
Tributes pour in as UAE businessman Majid Al Futtaim passes away
Tributes pour in as the death of the leading Emirati businessman Majid Al Futtaim was announced on Friday. Al Futtaim,...
- Sheikh Mohammed bin Rashid Al Maktoum hailed him as 'one of Dubai's most important' business leaders
- In April 2021, Forbes’ 35th Annual World Billionaires named Majid Al Futtaim among the world's top 10 richest Arabs
Business
Ajman Free Zone partners with AlHabbai
One of the pact's aims is easing access to residence visas.
- Providing more competitive features and choices for medical examinations part of the partnership.
- AFZ committed to exploring and establishing partnerships with various sectors to deliver unified and efficient services to investors, said the director general.
Business
Emirates receives its 123rd, and final, Airbus A380 superjumbo jet
Emirates today received delivery of its 123rd Airbus A380 superjumbo jet. The aircraft, registered as A6-EVS, is also the final...
- Emirates said it was the first airline to announce an order for the A380 at the 2000 Farnborough Air Show, when the aircraft was still marketed as the A3XX.
- The aircraft received features the airline's latest cabin products including Premium Economy, said the CEO.
Business
Aldar-ADQ grp to buy SODIC share
The Abu Dhabi based consortium will focus on identifying growth opportunities and guiding the company’s long-term strategy.
- The Abu Dhabi based consortium will focus on identifying growth opportunities and guiding the company’s long-term strategy
- The consortium’s objective is to advance SODIC’s position as a leading national developer by scale and reputation
Business
Saudi index shines, UAE stocks ripple
Global cues and local developments could not dampen the overall improvement.
- For Tuesday's eleventh consecutive trading day (December 14, 2021), the Dubai Stock Exchange index increased 0.9 percent.
- A 2.3 percent loss in First Abu Dhabi Bank's share on Monday (December 13, 2021) dragged down the index by 0.4 percent.
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Air Arabia to double fleet
Business
Qatar’s trade balance surplus increases by 12.8 percent in July
Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...
Business
GCC optimistic about FDI growth despite hiccups
Despite a decline in FDI inflows in the past few years, GCC countries remain optimistic as they expect strong economic...
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ChatGPT turns to business as popularity takes a tumble
ChatGPT Enterprise will be powered by GPT-4, OpenAI's highest performing model, much like ChatGPT Plus, the company's subscription version for...
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Kross Studio redefines high-end horology by crossing tradition and innovation to tick luxury revolution
Launched amidst the pandemic, Marco Tedeschi's venture seamlessly blended traditional watchmaking with modern technology, collaborating with major brands to achieve...
- Launched amidst the pandemic, Marco Tedeschi's venture seamlessly blended traditional watchmaking with modern technology, collaborating with major brands to achieve success.
- Kross Studio partnered with franchises like Star Wars and Game of Thrones, offering timepieces priced between $90,000 and $150,000, with the Middle East as a prime market.
Business
UAE’s PureHealth acquires UK’s largest private healthcare group for $1.19bn
Dubai, Riyadh - PureHealth, the largest healthcare group in the Middle East, has entered into an agreement to acquire Circle...
- The acquisition aligns with their broader expansion strategy, which encompasses acquisitions in the US and other international markets
- Circle Health Group, with over 50 hospitals spread across the UK, is known for its extensive network of private healthcare facilities
Business
ICIEC, SAPICO ink pact
Pact to enhance commercial activities between the two.
- The ICIEC is a member of the Islamic Development Bank (IsDB) Group and a leading Shariah-compliant multilateral insurer.
- This partnership aligns with both parties' shared vision of fostering international trade and economic development.