This was company's first financial result since dual listing.

The pipeline project has run into strong opposition from rights and environmental campaigners who say the oil fields being developed around Lake Albert threaten the region's fragile ecosystem and the livelihoods of tens of thousands of people. Positioned in front of the bank, demonstrators fashioned a red line made of...

Dubai, renowned for its towering skyscrapers and ultra-luxury villas, saw record real estate transactions in 2022, largely due to the influx of wealthy investors - especially from Russia. That helped to rake in more than $140 billion last year, marking a 76 percent annual rise in property market transactions for...

The SDF is the investment arm of UAE’s Tawazun Council.

Abu Dhabi, UAE – The non-oil trade between the UAE and Saudi Arabia in 2022 increased by 9 percent, reaching AED136.09 billion ($37.05 billion), compared to AED124.6 billion at the end of 2021, the Federal Center for Competitiveness and Statistics said. Over the period of 2013-2022, non-oil trade between the...

The company employs about 4,000 workers in the UK.

Abu Dhabi, UAE-- Abu Dhabi Fund for Development (ADFD) has allocated AED165 million ($45 million) to the Nigerian government to finance the Minna-Bida Road project, ADFD's first development project in Nigeria, which is expected to stimulate commercial activities and improve transport links between the main cities in the country. The...

Citing people familiar with the matter, Bloomberg said China’s Ministry of Finance is among government entities that gave the so-called window guidance to some state-owned enterprises as recently as last month, urging them to let contracts with the Big Four auditing firms expire.

Profit after tax slid 6% to $6.0 billion last year.

Cairo, Egypt--Egypt has set an initial yield of 11.625 percent for the sale of its three-year, dollar-denominated sukuk on Tuesday as part of the country’s measures to defuse its foreign exchange crisis. The sukuk will be of benchmark size or in the range of $500 million. Egypt’s finance minister Mohamed...

The total number of companies now listed on QSE stands at 50.

The SeaRates platform will enable Caspian Containers Company customers to monitor the status and movement details of a container at any point during its journey.

Abu Dhabi, UAE--UAE-based SMEs in the industrial sector will soon be able to access new financing solutions and enablers following a memorandum of understanding (MoU) signed at IDEX and NAVDEX 2023. The MoU between the Ministry of Industry and Advanced Technology (MoIAT), Tawazun Industrial Park (TIP) and the Emirates Development...

Taking retaliatory action for imposition of sanctions against the Islamic Republic, Iran has slapped 36 individuals and entities from the European Union and Britain with sanctions. According to the Iranian foreign ministry, Tehran has placed the names on its "sanctions list for supporting terrorism and terrorist groups" as well as...

RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) is participating in the Gulfood exhibition to showcase its business solutions for global investors in the Food and Beverage (F&B) industry who want to establish and expand their operations in the UAE. With an aim to promote the F&B...

The UAE has maintained a neutral stance towards Russia's war in Ukraine, which is nearing its one-year anniversary. The Gulf nation has emerged as a top destination for rich Russian emigres fleeing the impact of Western sanctions.

Abu Dhabi, UAE – Lockheed Martin has partnered with four companies operating in Gulf Cooperation Council (GCC) countries to provide instrumentation, calibration, and repair services for its aircraft ground support equipment, as part of its Product Support Provider Network (PSPn). The four companies are AL TAIF (part of EDGE Group),...

Dubai, UAE--Dubai Chambers' membership increased by 20 percent in 2022 to 347,600, adding 56,000 new members during the year. In a statement, the Chambers said the exports and re-exports of its members grew by 20 percent in 2022, totaling AED272.7 billion. Dubai International Chamber opened four new international offices in...

SHARJAH, UAE - Chairman of the Department of Government Relations (DGR) in Sharjah Sheikh Fahim Al Qasimi recently met with Minister of Foreign Trade and Investment of Costa Rica Manuel Tovar Rivera to discuss strengthening collaboration between their respective regions. The two parties discussed trade, food security and the transportation...

London, United Kingdom--UK government finances recorded a stronger surplus than expected last month, official data showed Tuesday, news that analysts said could allow finance minister Jeremy Hunt to further ease a cost-of-living crisis. Net borrowing showed a surplus of £5.4 billion ($6.5 billion) in January, compared with the government's own forecast...

The net profit for the year was $31.96 million, the firm said.

Dubai, UAE -- Dubai real estate market recorded real estate transactions worth AED1.9 billion ($517 million) on Monday, Dubai Land Department said. These included 561 sales transactions worth AED1.7 billion, in addition to 100 mortgage deals of AED94.43 million, and 61 gift deals amounting to AED65.91 million. The sales included...

It, however, posted a jump in revenue to $15.7bn.

Riyadh, Saudi Arabia-- Saudi Arabia and Costa Rica have signed agreements to increase the volume of trade and investment between the two countries. In this connection, the Federation of Saudi Chambers and the Costa Rican Export Authority signed two agreements in the field of economic cooperation between the kingdom and...

Abu Dhabi, UAE--UAE Banks Federation (UBF) has signed a memorandum of understanding (MoU) with the Azerbaijan Banks Association to enhance cooperation and and promote the growth of the financial and banking sectors in both countries. The scope of the MoU includes organising various activities in the finance and banking sector...

Qatar-based Gulf International Service has successfully accomplished the merger.

DUBAI, UAE -  PwC Middle East and Microsoft have strengthened their global partnership at LEAP event in Riyadh, to support government and private entities in their digital transformation and cloud migration journey in Saudi Arabia. The collaboration will focus on cloud transformation, business process automation and technology consulting, addressing the...

DUBAI, UAE -  Dubai International Financial Center (DIFC) continued to grow at a record-breaking pace in 2022 with the number of active registered companies rising 20 percent from 3,644 in 2021 to 4,377 in 2022. New companies registered in DIFC in 2022 surpassed the annual milestone of 1,000 for the...

The success of the initiative is reflected in the fact that Dubai Can has been widely adopted in the city.

And their posts, photos and videos will have a higher profile than those of non-subscribers by appearing atop search results, commentaries and recommendations. Meta is also promising new creative functionalities. Meta Verified will be rolled out in Australia and New Zealand this week before coming to markets in the United...

Sharjah, UAE--The Hamriyah Free Zone Authority (HFZA) will take part in the upcoming 28th edition of Gulfood 2023, the biggest food and beverage supply platform globally. The event will be held from 20th to 24th February at the Dubai World Trade Centre (DWTC) and will host over 5,000 exhibitors hailing...

Defying a government ban against marches, scores of Moroccan trade union activists protested on Sunday in the capital Rabat and other cities to denounce surging costs of food and fuel. Protestors from the Democratic Labour Confederation (CDT) organized rallies outside their offices in Rabat and Casablanca as well as other...

DUBAI, UAE - Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has hosted the sixth episode of a series of digital industry workshops focusing on the e-commerce market. Attended by Dubai's e-commerce industry leaders, the workshop saw discussions on topics surrounding regulations, funding, talent,...

Doha, Qatar—Logistics market in Qatar will outperform other Gulf Cooperation Council countries during the 2020-2026 period, a study says. The study by the Investment Promotion Agency in Qatar showed Qatar ranked among the first 20 percent of countries in the world and second in the Middle East based on performance...

ABU DHABI, UAE -  A delegation of 10 Abu Dhabi entities visited Israel from  February 12-16 to discuss business cooperation and innovation opportunities. Led by the Abu Dhabi Investment Office (ADIO), the delegation included Abu Dhabi Global Market (ADGM), Abu Dhabi Residents Office (ADRO), Hub71, Abu Dhabi IPO Fund (ADIPOF),...

DUBAI,  UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA)  Saeed Mohammed Al Tayer received a high-level delegation from Emerson headed by Lal Karsanbhai, President and CEO. Emerson is a global leader in technology, software, and engineering. The visiting delegation included Michael Train, Chief Sustainability Officer, Emerson;...

Artificial intelligence (AI) has been increasingly present in everyday life for decades, but the November launch of the conversational robot from start-up OpenAI marked a turning point in its perception by the general public and investors. Since its discrete release in late November, ChatGPT has become one of the fastest...

London, United Kingdom - A consortium led by a Qatari banker announced it had submitted an offer to take full control of Manchester United, with British billionaire Jim Ratcliffe also reported to have lodged a bid. Sheikh Jassim Bin Hamad Al Thani "confirmed his submission of a bid for 100 percent...

DUBAI, UAE -  Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi has marked the first anniversary of the signing of the landmark UAE-India Comprehensive Economic Partnership Agreement during two important events in the UAE. On Friday, Al Zeyoudi received a delegation from the Federation of Indian...

Its profit shot up more than 5,000% to $14.45m in 2022.

It will focus on the development of defense trading.

London, United Kingdom--Saudi Arabia has joined the race to buy Manchester United ahead of Friday's bid deadline, according to a report in Britain's Daily Telegraph, raising the stakes in what could be the most lucrative deal in sports history. The American Glazer family, who completed their takeover of the 20-times English...

Total operating income rose 11% in 2022 compared to 2021.

Abu Dhabi, UAE— The gross subscriptions written by all Takaful insurance companies in the UAE reached AED4.35 billion in 2021, marking a growth rate of 0.51 percent over AED4.32 billion in 2020, the Central Bank of the UAE said in a report. These subscriptions accounted for 9.82 percent of the...

Fashion house posted huge earnings despite inflation.

Riyadh, Saudi Arabia---Saudi Arabia's Transport General Authority has signed the largest project for transporting passengers by buses through a network covering more than 200 cities and governorates. The network is expected to serve more than 6 million passengers annually through 76 routes, with a new fleet of buses equipped with...

DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer spoke of the organization's keenness to cooperate with leading international companies for the continuous development of its operations. Al Tayer made the remarks during discussions with a high-level delegation from France’s satellite operator...

The group sold over two million cars in 2022

Dubai, UAE-- Dubai real estate market has recorded deals worth AED2 billion ($544 million) on Thursday, according to Dubai Land Department. The deals included 475 sales transactions worth AED1.38 billion, in addition to 101 mortgage deals of AED491.51 million, and 56 gift deals amounting to AED141.96 million on Thursday. The...

Earnings per share declined to QR 0.006 in 2022.