Aramco CEO highlights collaboration with Beijing at forum in China
AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...Business Economy Energy Geostrategy
IOTA Foundation launches US$10m investment fund at Investopia 2024
ABU DHABI, UAE – Minister of Economy and Chairman of Investopia Abdullah bin Touq Al Marri attended the unveiling of...Business Economy Tech & Media
33% of Dubai tenants prefer one bedroom units to large apartments
Dubai, UAE - ZāZEN Properties, a sustainable property developer in the United Arab Emirates (UAE), has noted a surge in...With overall property prices increasing, residents are searching for the best ways to invest their money, whether as a long-term profitable option or to live in the property
Also, due to the overall increase in mortgage and rental rates investing in one or two-bedroom units versus larger apartments or townhouses has become preferable
AD Ports adds drydock services at Khalifa Port in expansion drive
Abu Dhabi, UAE— AD Ports Group will add drydock services to its portfolio at Khalifa Port in an expansion of...The port with the expansion in services, from container and cargo handling, vessel repairs and maintenance, is aiming to improve client service
The CEO of AD Ports said the addition of new service will drive growth and enhance the company's competitive position in the market
Egypt reports 72% drop in current account deficit to US$1.8bn
Cairo, Egypt--Egypt’s current account deficit fell 77.2 percent to $1.8 billion in the first half of the North African country’s...The drop in the deficit was caused by current account turning a $1.41 billion surplus last year as imports dropped and exports soared
According to S&P Global's report, the downturn in the business sector softened in April as cost inflation fell to a on-year low
Qatar’s inbound visitors see 183% rise in March
Doha, Qatar - Inbound visitors to Qatar surged by 183.5 percent YoY in March, according to the 111th issue of...The total number of visitors reached 433,000 in the month, a rise of 11% over February
Gulf Cooperation Council visitors accounted for the highest number at 38%
Global energy firms must pay up to prevent spill: Yemen company
To prevent a damaging oil spill in the Red Sea, the UN Development Programme in March took the unprecedented step...Hayel Saeed Anam Group, which in August contributed $1.2 million to UN clean-up campaign, made the appeal hours before a virtual donor conference hosted by Britain and Netherlands
The Safer's 1.1 million barrels contain four times as much oil as that spilled in the 1989 Exxon Valdez disaster off Alaska, one of the world's worst ecological catastrophes
Abu Dhabi’s property market records sales worth US$7.62bn in Q1
Abu Dhabi, UAE--The property market in Abu Dhabi has recorded 5,472 property sales and mortgages valued at US$7.62 billion in...The emirate recorded a 147 percent jump in the value of real estate transactions during the first quarter of 2023 compared to the same period of last year
The Department of Municipalities and Transport has reported an increase in the value of mortgage transactions to $3.18 billion during the first quarter
UAE and Jordan sign MoU to boost tourism, cultural exchange
Abu Dhabi, UAE--Looking to boost tourism and cultural exchange between the two countries, the Department of Culture and Tourism Abu...The deal will bolster tourism and economic cooperation between the two nations, driving growth in leisure traffic in key markets
The partnership entails starting initiatives like joint sales workshops, training, roadshows to improve partner engagements and cultural exchange
‘UAE deals with around 50,000 cyberattacks daily’
"These proactive efforts play a vital role in protecting the country's digital sphere and ensuring a secure environment for critical...The UAE Cyber Security Council collaborates with partners to deter over 50,000 cyberattacks daily targeting critical national sectors, says its head
Banking, financial, health, oil, and gas sectors are frequently targeted, but attacks are efficiently countered to safeguard the UAE's digital sphere
GCC central banks align rates with US Fed Reserve
The regional apex banks -- including the CBUAE, SAMA, CBB, and QCB -- have raised rates by 25bps in response...The regional apex banks -- including the CBUAE, SAMA, CBB, and QCB -- have raised rates by 25bps in response to the US Fed's decision to increase its benchmark lending rate
Saudi Arabia's SAMA has increased its Repo rate to 5.75% and Reverse Repo to 5.25%, while the CBUAE has raised its ODF from 4.90% to 5.15%, effective from May 4, 2023
Airbus Q1 net profit at $514m
The company delivered 127 aircraft in Q1 of 2023.Revenues generated by Airbus' commercial aircraft activities decreased by five percent year-on-year.
The company's defense and space unit saw revenues drop by six percent, while the helicopter unit jumped by 26 percent.
