GPSSA issues circular on pensions, gratuity in UAE
ABU DHABI, UAE – The Emirates General Pension and Social Security Authority (GPSSA) has issued a circular to government and...
Business
SCCI and Oman Chamber aim to boost investment cooperation
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and the Oman Chamber of Commerce and Industry (OCCI) discussed ways...
Business
Business
Two Abu Dhabi firms partner to adopt energy-saving technology
Abu Dhabi Health Services Company (SEHA) and Abu Dhabi Energy Services (ADES) have begun the first phase of their Energy...
- As part of the agreement, which was originally signed in September, ADES will implement key energy-saving technologies in several of SEHA’s facilities to enhance sustainability
- The strategic collaboration will mark SEHA’s commitment towards the adoption of energy-efficient modifications for its facilities
Business
UAE ministry signs pact with ADDED and ADNOC to promote Emirati products
The Ministry of Industry and Advanced Technology (MoIAT) and Abu Dhabi’s Department of Economic Development (ADDED) will work on proposing...
- MoU part of a program aimed at redirecting above 42 percent of public-sector and select private-sector expenses towards local suppliers.
- The pact is in line with the objectives of the National Strategy for Industry and Advanced Technology, Operation 300bn.
Business
SIDF and Al Rajhi team up to boost industries growth
The Saudi Industrial Development Fund (SIDF) has teamed up with Al Rajhi Bank to provide a documentary credit service.
- The documentary credit service enables investors to obtain the necessary liquidity to implement projects and to speed up project implementation procedures
- The fund aims at stimulating the growth of national industries through the partnership with the private sector
Market Report
Dubai Index surges 80 percent, Saudi losses continue
Dubai index outperformed GCC peers, following the emirate's announcement of plans to open a $545 million market-making fund and IPOs...
- As of Thursday, Abu Dhabi's main index increased by 0.1 percent, aided by a 2.4 percent increase in Alpha Abu Dhabi Holding.
- Saudi index lost for the third consecutive week and Abu Dhabi was largely stable.
Business
Riyadh Season casts its spell on GCC
So far more than two million visitors have marked their presence in the five-month long arts and culture festival.
- From young and old, men and women, all have trooped into the area to partake of music, sports, cars, business, agriculture, and many more events
- Live concerts featured many regional and international singers like Kazem Al Saher, Angham, Elissa and many more that can interest children, families, and youth as well
Business
ENOC Group and Air Chateau sign pact
Under the agreement, ENOC will fuel up to 30 helicopters of Air Chateau.
- Air Chateau offers charter and transportation services to tourists, high net worth individuals and air ambulances.
- ENOC Aviation's current supply network spans over 200 airports across 21 countries.
Business
Nayifat Finance to trade on Tadawul
Nayifat Finance Company (NFC) will start trading on Tadawul on November 22, according to a Saudi Exchange filing.
- The stock will have +/- 30 percent daily price fluctuation limits and +/- 10 percent static price fluctuation limits
- These fluctuation limits will be applied during the first three days of listing, and from the fourth trading day onwards
Business
Experts discuss market opportunities at DMCC Dubai Precious Metals Conference
The sector leaders addressed key trends within the global precious metals industry and how to harness current opportunities.
- The sector leaders addressed key trends within the global precious metals industry and how to harness current opportunities
- The session, held under the title ‘Gold versus Bitcoin: competition or coexistence?’, highlighted bitcoin’s growing status as ‘digital gold’
One year from FIFA World Cup, clock ticks ever louder for Qatar
Twelve months before the 21 November, 2022 kick-off, the Qatari capital Doha is dotted with roadworks and building sites that...
- Twelve months before the 21 November, 2022 kick-off, the Qatari capital Doha is dotted with roadworks and building sites that are causing chaos for its inhabitants
- With some Qatari infrastructure projects delayed by the pandemic, the clock is ticking more loudly than organisers might have liked
Business
Airbus predicts 3,020 ME orders
Airbus says the Middle East will need more than 3,000 aircraft by 2040.
- It made the prediction in its 2021 Airbus Global Market Forecast or GMF
- According to the forecast, the Middle-East region will need 3,020 new passenger and freight aircraft deliveries by 2040
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
GPSSA issues circular on pensions, gratuity in UAE
ABU DHABI, UAE – The Emirates General Pension and Social Security Authority (GPSSA) has issued a circular to government and...
Business
Company News
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Exclusive: Private military companies look at $366.8bn market as their demand, role in global conflicts rise
Rising security concerns, confrontational geopolitics, and chaotic global changes have fueled the demand for private military companies, the new reality...
Business
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Business
World’s largest cruise ship all set to sail
TURKU, FINLAND - With cruise bookings seeing a resurgence after the Covid pandemic caused luxury liners to mothball, a Finnish shipyard...
- Royal Caribbean's luxurious new vessel Icon of the Seas is nearing completion in the Turku shipyard on Finland's southwestern coast.
- Resembling a village more than a ship, the mammoth vessel boasts colourful waterparks, more than 20 decks and can carry nearly 10,000 people.
Business
UAE witnesses record 2.4m tourists in first six months of 2023
Abu Dhabi, UAE - A record 2.4 million tourists visited the UAE during the first six months of 2023, a...
- The emirate’s hotel establishments generated revenues exceeding AED3 billion during the same period, a 26 percent growth compared to last year.
- The hotels also recorded an average occupancy rate of 70 percent, with the average stay in the emirate's hotels being 2.7 nights.
Geostrategy
ADFD finances $105.4m energy security project in Tanzania
ABU DHABI, UAE - The Abu Dhabi Fund for Development (ADFD) has signed a loan agreement with the Government of...
- The project’s objective is to fully connect the Kagera administrative region with the national electricity grid.
- It will reduce dependency on energy imports from Uganda and provide sustainable electricity source.