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EDB’s contribution to UAE’s industrial GDP in 2023 rises to US$1.1bn
ABU DHABI, UAE – Emirates Development Bank (EDB) has unveiled its 2023 results, showcasing an extraordinary year of achievements and strategic milestones. EDB revealed a significant 80 percent surge in its contribution to the UAE’s industrial GDP, which has grown from US$653 million (AED2.4 billion) in 2022 to US$1.1 billion...
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Saudi center to auction industrial properties in Riyadh
Saudi Arabia's Center for Attribution and Liquidation "Infath" will auction quality real estate in Riyadh on August 1, a media report said. The auctions offer 14 industrial real estate assets in eastern Riyadh, with large total areas estimated at more than 80,000 square meters. The real estate consists of three... -
Allotted industrial & commercial land rules in Dubai amended
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister has issued a decree regulating the grant of title to allotted industrial and commercial land in Dubai -
Real estate transactions worth US$1.5bn recorded in Dubai
Dubai's real estate and property transactions valued at AED 5.5 billion ($1.5 billion) during the week ending 15 July 2022. The sum of transactions was 1,614. -
Saudi seeks British investment in industrial and mining sectors
Saudi Arabia is seeking to convince investors and companies in Britain to make investments in the kingdom's industrial and mining sectors. -
Dubal Holding signs deal with MOIAT
The deal will foster industrial cooperation between the two. -
Saudi Industrial Production Index rises by 26 percent in April
Saudi Arabia's Industrial Production Index (IPI) in April 2022 increased by 26.7 percent compared to the same month last year. The General Authority for Statistics (GASTAT) said the IPI continued to show positive growth rates due to the high production in mining, quarrying and manufacturing activity. The IPI is an... -
Jordan’s exports from Jan-May 2022 hit $478 million
Amman Chamber of Commerce (ACC) said that the total value of exports during the January-May period 2022 amounted to JD339 million, compared to JD248 million for the first five months last year. According to the ACC's statistical data announced on Sunday, the number of ACC certificates of origin issued during... -
Fitch enhances Ras Al Khaimah rating to ‘A’, outlook upgraded to ‘positive’
The government spending, partly supported by significant revenues from government assets, have enabled Ras Al Khaimah to diversify its economy, says the latest Fitch report. -
Stocks recover as Shanghai set to ease lockdown, reopen business
The impact of Beijing's zero-Covid strategy on the world's second-largest economy was revealed Monday when official data showed that retail sales and industrial production in April on-year had slumped to their lowest levels in more than two years. -
AMEA Power awarded two projects
These solar projects in Morocco were part of a large international tender. -
Jordan and Azerbaijan look to boost trade ties
According to the statement, a Jordanian-Azerbaijani Economic and Investment Business Forum will be held in the coming period -
President of Jordan Chambers praises reforms to boost business
President of the Jordan and Amman Chambers of Industry Fathi Jaghbir said Saturday that the National trade window to facilitate investments and improve the business environment is a key reform leap. -
Emirates Steel exports up 50 percent
The firm's capacity is enough to meet the domestic market's demand. -
Qatar Industrial Co. posts net profit of $38m in 2021
Qatar Industrial Manufacturing Co. has reported a net profit of $38m for 2021 in comparison to net profit of $23m for the same period of the previous year. -
Sanad picks new CEO
Sanad, a subsidiary of Mubadala Investment Company, has appointed Mansoor Janahi as the new Group CEO. -
UAE industrial exports in 2021 $33bn amid surge in new production
The significant increase in the UAE’s industrial exports coincided with 220 new facilities commencing production in 2021, said Minister of Industry and Advanced Technology Dr Sultan bin Ahmed Al Jaber. These facilities benefit from the UAE’s strategy aimed at raising industrial sector’s contribution to the GDP from AED133 billion to... -
UAE cabinet endorses labor and industrial laws
Chaired by Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai and Vice President, Prime Minister of the UAE, the Cabinet approved the Executive Regulations of the Federal Decree Law on Regulation of Labor Relations and the Executive Regulations of the Federal Law regarding the regulation and protection of industrial... -
ADDED lays down strict rules on ‘hazardous materials’
ADDED has directed commercial and industrial facilities in the Emirate to license warehouses of hazardous materials away from their headquarters as branches to support its role in monitoring the movement of hazardous materials. -
Ajman issues 41 percent more economic licenses in 2021
The economic licenses issued by the Department of Economic Development in Ajman (Ajman DED) during 2021 grew by 41 percent. Also, the number of establishments reached 27,913, and the Labor Resilience Index reached 17 percent. The efforts and initiatives launched by the Ajman DED during 2021 have resulted in a... -
Exports of ACI soar 16% in first 11 months of 2021
Exports of Amman Chamber of Industry (ACI) have soared 16% during the past 11 months of 2021, compared to the same period in 2019, driven by the rising exports of most industrial sectors. -
EDB and Dubai IE sign pact to offer UAE exporters access to finance
Emirates Development Bank (EDB) has signed a strategic agreement with Dubai Industries & Exports (Dubai IE) to provide innovative financing and banking solutions to SMEs and corporates The initiative is aimed at supporting the growth of UAE’s industrial sectors and exports. Ahmed Mohamed Al Naqbi, CEO of EDB, said EDB... -
GMIS, FAB to enhance SME’s access to finance, drive industrial growth
The Global Manufacturing and Industrialisation Summit (GMIS) announced on Thursday a partnership with First Abu Dhabi Bank (FAB), that will explore the latest trends and opportunities to improve access to finance for Small and Medium Enterprises (SMEs) and drive sustainable industrial growth both globally and in the UAE. Through joint... -
Saudi Industrial Development Fund unveils three new products
The Saudi Industrial Development Fund has unveiled a set of programs and initiatives as part of its annual meeting to empower the private sector today. -
Knight Frank strengthens UAE team
The company hires two members for Industrial and Logistics. -
UAE’s Operation $300bn eyes more M&As
The strategic merger between Arkan and Emirates Steel Industries highlights the focus of the UAE's new industrial initiative 'Operation $300bn.' -
Saudi industrial production rises to 11.9 percent
Saudi Arabia has reported a sharp rise in its Industrial Production Index (IPI) to 11.9 percent in June 2021 from a year earlier and by 3.6 percent from May, official data showed today.