GCC records surge in women’s workforce participation
Driven by resilience, legislation, and determination, the female populace is reshaping the socio-economic fabric of the Gulf countries, a TRENDS...
Business
Saudi Tourism Authority, Trip.com Group sign global agreement
BERLIN, GERMANY – Saudi Tourism Authority (STA) and Trip.com Group have announced a significant global partnership, which will drive greater...
Business
Business
Borouge and ADNOC sign agreement
ADNOC L&S will manage integrated logistics for Borouge.
- The pact covers transportation and handling operations for Borouge-manufactured polymer products at Khalifa Port for export.
- The new agreement will see 85 percent of its value flow back to the UAE’s economy, accelerating the development of critical local supply chain functions.
Business
Mubadala and Bahrain’s sovereign wealth fund Mumtalakat sign pact
Mubadala Investment Company and Bahrain Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom of Bahrain, Tuesday signed a...
- The two entities will exchange knowledge and best practices to enhance investment and operational capabilities.
- Our partnership with Mubadala will strengthen our collective operational capacity and bolster our historical ties.
Market Report
Asia markets down on Omicron, Fed tapering fears
Beyond property woes and virus fears, all eyes this week are on the Fed, which must carefully calibrate its response...
- After last week's strong performance, stocks have stumbled this week as Britain struggled with its response to the Omicron strain
- The US Federal Reserve is scheduled to announce its latest interest-rate decision on Wednesday
Infographics
Saudi Arabia, UAE fashion industry set for boom
The UAE and Saudi Arabia seem poised to see their respective fashion sectors double their revenues in the near future.
- The ecommerce boom has led to more and more people buying apparel and accessories online
- They are doing so especially after they check reviews and sustainability factors of their intended purchase
Business
Elon Musk named Time magazine person of the year
Musk, the world's wealthiest person wields impact on Earth with his Tesla electric car company and beyond our planet with...
- Musk, the world's wealthiest person wields impact on Earth with his Tesla electric car company and beyond our planet with his SpaceX rockets
- "Musk's rise coincides with broader trends of which he and his fellow technology magnates are part cause and part effect," Time editor-in-chief Edward Felsenthal wrote
Business
Emaar Properties tops Forbes list of 50 Middle East real estate firms
Forbes Middle East also unveiled a ranking of the "Top 10 Construction Companies in MENA 2021".
- Developers from nine countries feature in the Forbes Middle East list. The UAE leads with 17 companies on the list.
- The list was developed based on financials, reputation, company’s age, value of projects completed and projects under construction.
Business
Trade between Mexico and UAE grew by 38 percent in last five years
Mexico-UAE bilateral trade has witnessed an approximate 38 percent upsurge in the past five years (2016-2020), a senior Mexican official...
- The bilateral trade between 2016 and 2020 registered an average annual growth rate of 6.7 percent, from $511m in 2016 to $705.1m in 2020.
- Mexico has the capacity to be a strategic partner for it in the agri-food sector, said Martha Delgado Mexican Vice Minister for Multilateral Affairs.
Business
DP World, Congo to develop Banana Port
The Port is likely to save time and cost for the country’s trade.
- The agreement enables DP World to begin construction within 12 months of Congo's first deep-sea port.
- DP World will develop an initial 600-meter quay with an 18m draft, capable of handling the largest vessels in operation.
Economy
Abu Dhabi Investment Office concludes investor interaction program
The Abu Dhabi Investment Office (ADIO) has connected with hundreds of global business leaders, entrepreneurs and innovators in a series...
- A series of six inaugural events by its international offices discussed expansion opportunities to the UAE capital.
- ADIO’s offices in London, Paris, Beijing, Seoul, New York and San Francisco each organized an event.
Business
FAHR releases a circular on new week system
The Federal Authority for Government Human Resources (FAHR) has issued a circular to all federal ministries and authorities on the...
- FAHR clarified that the official working week for federal government employees starts from Monday till Friday from 7:30am till 3:30pm daily
- Additionally, federal authorities can activate remote working system on applicable jobs, provided that they coordinate with FAHR before implementing this system
GCC records surge in women’s workforce participation
Driven by resilience, legislation, and determination, the female populace is reshaping the socio-economic fabric of the Gulf countries, a TRENDS...
Business
Company News
Latest News
AviLease acquires aircraft leasing platform
The $3.6bn deal will see AviLease acquire a portfolio of 100 aircraft.
Business
SAMI launches radio systems line
PIF-owned SAMI will be partnering with the Ministry of Defense.
Business
Kuwait Airport expects 13% rise in passenger numbers, says DGCA
KUWAIT CITY, KUWAIT - Kuwait's Director General of Civil Aviation (DGCA) expected that the total passenger traffic to and from...
Business
Most Read
Business
NIDC drills 195 oil wells in 2 years
Wells were drilled in onshore, offshore operations.
- The oil and gas wells were put into operation by affiliated companies of the National Iranian Oil Company.
- 13 wells were completed 201 days sooner than expected due to round-the-clock efforts of NIDC’s employees.
Business
$202m contract signed for Jeddah project
The contract involves MEP works for Al Muhammadiyah Hospital.
- The contract was signed between Zamil Air Conditioning and Refrigeration Services Co. Ltd. and Al Muhammadiyah Hospital for Healthcare Co.
- Sulaiman Al Habib plans to finance the project from its own resources and Shariah-compliant long-term bank loans.
Business
PIF-backed oil driller ADES International Holding announces IPO
Riyadh, Saudi Arabia -- ADES International Holding, an oil and gas driller backed by Saudi Arabia’s sovereign wealth fund, PIF,...
- The offer will comprise 338.7m shares-- 101.62m by ADES Investment Holding, PIF and Zamil Investment, and 237.10m new shares.
- The price range will be announced September 18 and the final offer price will be announced after a book-building process.