ADCB approves cash dividends worth US$1.1bn Â
ABU DHABI, UAE – Abu Dhabi Commercial Bank (ADCB) has approved the Board of Directors proposal to distribute a cash...
Business
Coalition says record drugs haul seized near Gulf in 2021
The value of the drugs seized by the Bahrain-based Combined TCommander of CTF 150, Royal New Zealand Navy Captain Brendon...
- The value of the drugs seized by the Bahrain-based Combined Task Force 150, or CTF 150, exceeded the past four years combined
- The haul including 6,550 kilograms of heroin, 4,052 kilograms of methamphetamine and 56,834 kilograms of hashish was all destroyed
Business
UAE biggest trading partner of Australia, relations between two growing
The UAE is Australia’s largest trading partner and the second-largest source of investment in the Middle East, said Justin McGowan,...
- Annual trade between the two countries is valued approximately at AU$9.8 billion ($7.1 billion).
- More than 250 Australian companies are based in the UAE, said Justin McGowan, Commissioner General of Australia at Expo 2020 Dubai.
Business
Instagram boss faces US lawmakers over impact on kids
Instagram's boss faces a grilling Wednesday from US lawmakers after damning press reports based on leaked internal research showed the...
- The documents leaked by Facebook whistleblower Frances Haugen include research from 2019 that found Instagram makes body image issues worse for one in three teenage girls
- Another report, from 2020, revealed that 32 percent of teenage girls said that when they felt bad about their bodies, Instagram made it worse
Business
Dubai Financial Market announces new trading hours from 3 Jan 2022
Dubai Financial Market (DFM) has announced new trading hours from 3 January 2022. The new trading session of five hours...
- The new trading session of five hours will be between 10 AM and 3 PM from Monday to Friday.
- The new trading hours have been set in coordination with local and international market participants, DFM said.
Business
Ras Al Khaimah moves to regulate transporting passengers by luxury vehicles, limousines
Ras Al Khaimah has regulated the activity of transporting passengers by luxury vehicles and limousines in the emirate. Sheikh Saud...
- Ruler of Ras Al Khaimah Sheikh Saud bin Saqr Al Qasimi approved Resolution no.3 of 2021 which paved the way for this regulation.
- The move mandates Ras Al Khaimah Transport Authority to organise the activity of transporting passengers by luxury vehicles and limousines in the emirate
Business
Iraqi fishermen caught in net of water frontiers
Iraqi fishermen at Al-Faw, such as Tareq Ziad, complain of "being harassed" by both Iran and Kuwait.
- Iraqi fishermen at Al-Faw, such as Tareq Ziad, complain of "being harassed" by both Iran and Kuwait
- The head of the fishermen's union in Al-Faw, Badran al-Tamimi, said they have "no support from the (Iraqi) government"
Economy
Three laws introduced in UAE after the biggest-ever amendments
The UAE has introduced three new economic laws, with the government saying these laws underwent the largest legislative amendments of...
- The laws are the Commercial Companies Law, Commercial Registry Law and the Trademarks Law.
- Commercial Companies Law abolishes the maximum and minimum percentage of the founders’ contribution to the company’s capital at the time of the public offering
Business
China offers Kuwait help in developing its ports to boost maritime trade
China is willing to assist Kuwait to develop its ports given the significance of such facilities in the ##international maritime...
- Chinese port official stresses the significance of port facilities in international maritime trade.
- Kuwait's imports from China were worth $4.94 billion during 2020, according to the UN database on international trade.
Business
Aramco taps L&T for Saudi facility
Spread over 120,000 square meters of area, the facility which is to construed by L&T aims to create crucial equipment...
- L&T is to build the region’s first Heavy Wall Pressure Vessels facility at Jubail Industrial City
- More than 20 MoUs were signed under the Namaat program of Aramco in September 2021
Business
Tecom to be listed on DFM
It is part of a strategy to help DFM reach the AED3-trillion mark
- Tecom is said to have 10 business communities that offer infrastructure, regulations, and a support network to help businesses set up operations
- These business communities include Dubai Internet City, Dubai Media City, Dubai Design District, and Dubai Industrial Park
ADCB approves cash dividends worth US$1.1bn Â
ABU DHABI, UAE – Abu Dhabi Commercial Bank (ADCB) has approved the Board of Directors proposal to distribute a cash...
Business
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ADIA, EQT to buy Dechra Â
Business
Market capital in Arab bourses $4.5 trillion, says Arab Monetary Fund
Kuwait City, Kuwait -- The Arab Monetary Fund has said that the market capital in Arab bourses reached US$4.5 trillion...
Business
Gazprom delivers 41.5m cu.m of gas to Europe per day through Ukraine
Moscow, Russia -- The volume of Russian gas supplies to Europe through Ukraine is 41.5 million cubic meters per day,...
Business
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Business
Joint Jordanian-Yemeni Business Council to resume activities, says JCC
AMMAN, JORDAN - President of the Jordan Chamber of Commerce (JCC) Khalil Al-Haj Tawfiq on Saturday discussed with Director General...
- The Jordan Chamber of Commerce stressed on the importance of attracting new Yemeni investments to the Hashemite Kingdom.
- The JCC said the Kingdom offers several opportunities in multiple commercial, service and industrial sectors for investors.
Economy
Jordan oil bill falls in H1 2023 compared to H1 2022, says government
AMMAN, JORDANÂ - The value of the Kingdom's oil bill decreased during the first half of 2023 by 15.6 percent,...
- The value of Jordan’s imports of crude oil, its derivatives and mineral oils went down in the first half of 2023, to reach about JD1.531 billion.
- In the first half of 2022, the value of imports of crude oil, its derivatives and mineral oils was about JD1.813 billion.
Economy
BRICS secures 47% global oil with Saudi Arabia, UAE, Iran inclusion
Tehran, Iran - The inclusion of Saudi Arabia, the UAE, and Iran, will significantly increase BRICS’ weight in the oil...
- Together with the existing participants, Russia and Brazil, these countries jointly command 39% of the global oil exports
- BRICS will also possess nearly half of the world's total oil reserves, amounting to 719.5 billion barrels out of 1.6 trillion