St. Petersburg, Russia-- The UAE is seeking to strengthen economic cooperation with many countries in the world in order to ensure a sustainable and prosperous future for generations to come. This was stated by Sheikh Saud bin Saqr Al Qasimi, supreme council member and ruler of Ras Al Khaimah, in...

Sharjah, UAE - Sharjah Taxi reports successful transport of 1.465 million passengers during the first quarter of 2023. With a fleet of 750 vehicles of various models and brands, the company remains committed to ensuring passenger satisfaction, safety, and comfort. Khalid Al Kindi, the Executive Director of Sharjah Taxi, emphasized...

Dubai, UAE-- Seeking to enhance the emirate's position as a global pioneering city in adopting the latest technology in the building sector, Dubai Municipality has launched a new online system for building permits and control services aimed at streamlining procedures for customers in the emirate. The system is aligned with...

Muteb Alshathri, acting CEO PIF, told the Saudi-Iraqi Coordination Council in the kingdom that the Saudi-Iraqi Investment Company will invest in mining, real estate, infrastructure, mining, agriculture and financial services. In October last year, the fund announced it will establish five companies aimed at investing in Bahrain, Iraq, Jordan, Oman...

Abu Dhabi, UAE--The Central Bank of the UAE (CBUAE) has removed the board of directors of an insurance company operating in the UAE and replaced it with a temporary committee of experts for six months. The central bank, however, didn't disclose the name of the insurance company, and what led...

The 10-year sukuk was priced with a 4.875% coupon rate.

The Group's income also saw an increase of 34 percent.

The company reported an increase in its EPS to QR 0.014.

Riyadh, Saudi Arabia-- Becht, an American engineering services company, has revealed that it is in talks with potential partners in Saudi Arabia in order to widen its presence in the region. According to its director for the Middle East, Chris Van Der Beek, Becht is also holding discussions with potential...

Ottawa, Canada--Canadian Prime Minister Justin Trudeau announced Friday up to 13.2 billion Canadian dollars ($9.8 billion) in subsidies over 10 years for Volkswagen's first overseas battery plant, to be built in St. Thomas, Ontario. The production support matches incentives by US President Joe Biden's administration, as Washington's trading partners work to keep...

Diaverum is world’s third-largest provider of dialysis services.

The US$11bn deal will drive drug company's growth.

In the last 10 years, a motley of supposedly best-run companies in the Middle East have collapsed, disappearing into obscurity. TRENDS examines what went wrong.

With remote or hybrid work now the norm and cyber-attacks continuing to escalate, businesses realize they must take a fundamentally different approach to security. But as with any significant shift in strategy, implementation can be challenging, and efforts can sometimes stall.

Cairo, Egypt-- A new survey has revealed that Egypt's non-oil private sector activity contracted for the 28th straight month in March. The S&P Global Egypt Purchasing Managers' Index edged down to 46.7 in March from 46.9 in February, well below the 50.0 threshold that marks growth in activity. "At 46.7, the...

New Delhi, India--India's Patent Office rejected on Thursday US pharmaceutical giant Johnson and Johnson’s application to extend its patent on a key  tuberculosis treatment, allowing local companies to make cheaper generic versions. India accounted for nearly 29 percent of 10.6 million tuberculosis cases worldwide, according to the World Health Organization’s (WHO)...

The acceptance follows years of turmoil for the company.

Dividend of 13.5 fils per share highest ever in company's history.

SRC is looking to expand its refinancing portfolio.

The company posted a 23% increase in revenue.

ABU DHABI, UAE - In his capacity as the Ruler of Abu Dhabi, President Sheikh Mohamed bin Zayed Al Nahyan  has issued a law establishing the Abu Dhabi Transport Company. An affiliate of the Supreme Council for Financial and Economic Affairs, the company will support the emirate’s integrated transport ecosystem...

It will make an initial public offering before listing.

The new firm will focus on internal combustion.

It will also close down several units in Ludwigshafen.

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

Abu Dhabi, UAE-- The International Defence Conference (IDC 2023), which will be held one day ahead of the IDEX and NAVDEX exhibitions will kick off today at ADNOC Business Centre. The conference is expected to see the participation of a large number of leaders and officials from regional and international defence...

Firm has proposed dividend of S$115 million for 2nd half 2022.

Revenue rose as countries boost military spending.

The company's revenue in 2022 rose to $3.04bn.

The group's Q3 loss coincides with a slump in the tech sector.

Hong Kong-- Hong Kong is looking to persuade oil giant Aramco and its units to consider a secondary listing in the Asian financial hub. Hong Kong Chief Executive John Lee is embarking on his first official visit to the Middle East, according to the South China Morning Post. Lee is...

The two biggest economies of the region are leaving no stone unturned to hire the most talented professionals in order to run the ever-expanding companies.

Iraq admitted it had differences with France's TotalEnergies over a US$10-billion contract, including over the distribution of investments, but expressed hope they can be resolved through talks. "We have given ourselves time to continue the dialogue and reach a satisfactory solution for the parties involved regarding certain points of contention,"...

Merger of its Malaysian subsidiary with a firm helped.

ABU DHABI, UAE - One of the world's biggest solar plants will become fully operational this year in the oil-rich United Arab Emirates, months before it hosts UN climate talks, a partner company said Tuesday. The UAE, a major oil exporter, is spending billions to develop enough renewable energy to cover...

Dubai, UAE--Dubai International Financial Centre (DIFC) unveiled the “DIFC Metaverse Platform” to attract technology innovators from around the world. The platform is part of a comprehensive strategy being developed by Dubai International Financial Centre, the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, to...

The company's Q4 net profit surged to US$3.4 billion.

Firm confirmed its 2023 outlook amid strong aviation demand.

The firm's profit jumped to $294 million at the end of last year.

For strong growth companies, the choice has narrowed down to growth funding vs private equity and both have different criteria. Very often, companies prefer growth-oriented investors for higher valuations, whereas many PE investors remain by nature more cautious, he adds.

Ducab's supplying medium voltage and earthing cable.

Sherif Elfaham stepped into the new role on January 1, 2023.

Dubai, UAE-- Dubai Chamber of Commerce has unveiled a new financial technology (fintech) and payments business group to join the forces of all companies within the fintech and payments sector. The new entity aligns with the Chamber’s plans to raise the number of business groups representing economic sectors across Dubai...

Riyadh, Saudi Arabia--Saudi Export-Import Bank has announced the signing of a $26 million financing line agreement with Turkyie Finance Katilim Bank to finance Saudi non-oil exports to Turkyie, which is the first direct financing agreement for Saudi non-oil exports to the Republic of Turkyie. It also signed an agreement with...

Abu Dhabi, UAE-- The UAE Public Prosecution has ordered the arrest of a private company director who was proven to have faked the employment of Emirati citizens. The suspect allegedly forged e-documents, faked employment contracts, and falsely stated that his company had hired Emirati citizens, with the aim of obtaining...

DUBAI, UAE -   MD & CEO of Dubai Electricity and Water Authority (DEWA)    Saeed Mohammed Al Tayer has launched the construction work for the Hatta Sustainable Waterfalls project. The  US$12 million (AED 46 million) project was recently awarded to DEWA and is part of the company's social and investment responsibility...

Algiers, Algeria-- Sonatrach of Algeria and VNG AG of Germany have signed a memorandum of understanding for the construction of the first green hydrogen plant in the North African country. The MoU was signed on the sidelines of the fourth Algerian-German Energy Day in Algiers. The deal was signed between...

Dubai, UAE--The Ministry of Human Resources and Emiratisation (MoHRE) has held a meeting with a number of recruitment agencies in the UAE to discuss the latest developments and ways to benefit from the Nafis platform, helping companies with 50 employees or more achieve the Emiratisation targets of 2% for skilled...

Enterprise technology will move from closed, centralized platforms to more open, federated, and streaming ecosystems of services. The key battlegrounds will shift from core product and enterprise resources management systems to customer-centric digital experience and intelligent engagement ecosystems, they add.

Venture would start with two aircraft and expand to 15.