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Business
Toyota’s Daihatsu resumes domestic production
It will make the Probox van and Mazda-branded Familia van.
Business
Business
Central Bank of Kuwait conducts another round of Shariah auditor program
The Central Bank of Kuwait (CBK) has launched the fourth round of the Certified Shariah Auditor program to strengthen the...
- Around 100 certified auditors have graduated in the past sessions of the program.
- CBK had issued instructions regarding Shariah Supervisory Governance in Kuwaiti Islamic Banks in 2016.
Business
ENOC of UAE to market lubricants for Egypt in a three-year deal
United Arab Emirates’ National Oil Company (ENOC) has signed a three-year agreement with Royal Marine Services in Egypt to distribute...
- ENOC Misr, a joint venture between Proserv Egypt Group and ENOC, will be handling the local marine market, while Royal Marine services will manage the International marine market
- ENOC supplies lubricants that are used in a wide range of marine vessels, including heavy duty diesel engines
Business
Iran and Azerbaijan to sign business deals in energy sector
Iran and Azerbaijan will sign agreements for cooperation in various energy sectors soon, according to Iranian Oil Minister Javad Oji.
- Oji made the announcement after a meeting with Azerbaijan’s Deputy Prime Minister and Minister of Economic Development Shahin Mustafayev in Tehran
- The development of oil and gas fields in the Caspian Sea was another subject discussed during the meeting with the Azerbaijani delegation
Business
Saudia named best brand of 2021 in the kingdom for development of services
Saudi Airlines (Saudia) has been ranked as the best brand of the year 2021 in the kingdom, rising from eighth...
- The list of the best brands in 2021 in the kingdom by marketing research company YouGov includes many major international companies.
- Saudia improved its ranking this year from eighth place three years ago.
Business
Mosul restaurant brings robot waiters to Iraq
The robots being used in the restaurant are imported but the installation, applications and their servers are managed by the...
- Guests in a restaurant in Mosul order their meal digitally, through the 15 touch-screen built into the dining table
- Electronic workers or robots are already being used in Japan, Dubai and other European countries
Business
VentureSouq launches FinTech Fund
The fund invests in early stage FinTech and SaaS companies.
- The $50 million VentureSouq fund invests in early-stage FinTech and SaaS companies and focuses on key subsectors including payments infrastructure
- Established in 2016, VentureSouq has operations in the UAE, Egypt and Saudi Arabia and has invested in over 200 companies worldwide
Business
MODON and Bin Laden Company to build industrial city
The Saudi Authority for Industrial Cities and Technology Zone (MODON), has teamed up with Mohammed Bin Laden Co. to develop...
- The city located in Bahrah, a town in Makkah province, is a step to empower the industry and increase the local economic activity in GDP terms by 65 percent
- MODON was established in 2001 to develop industrial lands with integrated services
Business
Sawiris wants ‘level playing field’ for Egypt business
The second richest man in Egypt, Sawaris has said that the Egyptian government should act only as a regulator of...
- Sawiris built his fortune in telecommunications by investing in mobile networks in countries such as Bangladesh, Iraq and Pakistan.
- The military's economic reach has grown under President Sisi's leadership, partnering up with firms such as the Sawiris family's Orascom.
Business
India police charge Amazon executives over online drug sales
Indian police have charged executives from Amazon's local arm over claims the US retail behemoth's online portal was used to...
- Two men were arrested last week with 21 kilograms (46 pounds) of the drug in central Madhya Pradesh state and told officers they were using Amazon's India platform
- They admitted to shipping their crop by falsely marketing it as stevia leaves, a natural sweetener, according to a police report
Business
Dubai approves 55,000 business licenses in 2021
More than 55,000 new business licenses were issued during the first ten months of 2021 by the Business Registration and...
- According to a report by the Business Registration and Licensing sector, 59% of the new business licenses issued were professional, and 41% were commercial
- Among the legal forms of the new licenses issued, the report showed that Sole Establishment companies topped the list with 38%
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solutions by stc, Devoteam ink MoU
The aim is to foster avenues for collaboration in technology.
Business
Company News
Gulf Air, Emirates sign deal
Business
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PIF-owned Saudi tourism company to sponsor Al-Hilal Club
Riyadh, Saudi Arabia -- The Saudi Tourism Investment Company (ASFAR), a Public Investment Fund (PIF) portfolio company, has announced a...
Business
Generative AI brings challenges and opportunities
"New technologies like generative AI bring both opportunities and risks. A holistic AI strategy ensures privacy, security, and compliance, considering...
Opinion
Dubai Municipality parks attract more than 15m visitors in H1
Dubai, UAE-- More than 15 million people visited Dubai Municipality public parks, neighborhood parks, lakes, and recreational facilities for the...
Business
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Business
Saudi Arabia organizes trade mission to Japan to drive non-oil exports
Riyadh, Saudi Arabia--The Saudi Export Development Authority organized a trade mission to Japan under the theme of "Saudi Made" in...
- The Saudi Export Development Authority's initiative to organize the campaign in Japan is designed to boost non-oil Saudi exports
- The kingdom's non-oil exports to Japan totaled $438 billion over the past five years (2018-2022), including $99.20 billion last year
Business
Dana Gas logs $83m net profit
Revenue for the first half decreased 22% to $222 million.
- Revenue for the first half decreased 22 percent to $222 million compared to $284 million in H1 2022.
- The Group’s production in H1 2023 averaged 59,800 boepd, a 2 percent drop as compared to 61,100 boepd in H1 2022
Economy
Dubai taxi sector posts 10% growth
The market share of Hala Taxi service vehicles grew 35%
- The market share of Hala Taxi service vehicles grew 35% in H1 2023 2023, up from 28% in the same period of 2022
- Equally, the number of drivers in this sector soared from 19,000 to 26,000 between these respective periods