AJMAN, UAE - Ajman hotels and serviced apartments recorded a three percent growth in hotel revenues in the first quarter of 2023 compared to the corresponding period in 2022. The increase occurred mostly due to higher demand that is pushing the Average Daily Room (ADR) Rate, making investment in hotels...

Both countries are focusing on sectors such as technology, digital payments, innovation, green energy, healthcare, and more to develop their economies, says UAE’s minister.

Riyadh, Saudi Arabia--The GCC has called for the strengthening of trade and investment relations with the United Kingdom amid the ongoing negotiations over a GCC-UK free-trade agreement. The call was made by the organization's secretary general Jassem Mohamed Albudaiwi during a meeting with Kemi Badenoch, UK business secretary in Riyadh...

Development and operation of the Mirfa 2 Reverse Osmosis Independent Water Project, and the running of six power and water plants in the country are also a part of ENGIE's investments.

The company will collaborate with US tech firm Broadcom in order to make "cutting edge" parts for wirelessly connecting to high-speed 5G telecom networks. Apple however did not specify how many billions of dollars it would be putting into the alliance, but said it is part of a commitment to...

LONDON, UK -  British Business and Trade Secretary Kemi Badenoch will hold talks for a modern, comprehensive trade deal as she visits Qatar, Saudi Arabia and the United Arab Emirates this week, according to a press release issued by the UK Embassy in the UAE. Meeting her ministerial counterparts in...

The decision came a day after ADNOC raised the size of the offering.

Tehran, Iran-- Less than a year after signing a preferential trade agreement (PTA) with the UAE, Indonesia will sign a similar treaty with Iran during the ongoing visit of the Islamic Republic's President Ebrahim Raisi to the country. The deal is intended to improve trade relations and boost the trade...

Abu Dhabi, UAE-- In order to advance the United Nations Social Development Goals, the UAE institutional investors should concentrate on transition investment, taking advantage of their access to emerging markets. This is the conclusion of a NYU Abu Dhabi (NYUAD) report. The annual report "Transition Investment Lab (TIL)" was launched...

Kuala Lumpur, Malaysia-- The UAE and Malaysia are looking to bolster cooperation in the field of energy, in addition to strengthening ties between the two countries. The subject of cooperation in clean energy came up in a meeting between Suhail bin Mohammed Faraj Faris Al Mazrouei, the UAE's Minister of...

SHARJAH, UAE - Sharjah Economic Development Department (SEDD) organized multiple workshops for legal purposes and a number of investors and owners of economic establishments operating in the emirate attended the events. The workshops were on “Real Beneficiary Procedures and their Administrative Penalties” as well as “Anti-Money Laundering Procedures, Required Documents...

Cairo, Egypt - The UAE International Investors Council (UAEIIC) and Egyptian-Emirati Business Council (EEBC) will work together to enhance the existing investment partnerships, local media reports said. The two signed an MoU regarding the same, which also includes creating more investment opportunities in the new economy, green projects, recycling, clean...

Abu Dhabi, UAE - Abu Dhabi National Energy Company (TAQA) has announced a collaboration with the Government of Uzbekistan to explore strategic opportunities for investment in Uzbekistan’s power sector. These opportunities include new and existing power plants as well as associated power infrastructure which collectively could be worth more than$3...

SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) announced it will be sending a trade mission to India from May 29 to June 2, 2023. Led by the SCCI's Sharjah Exports Development Center, the initiative aims to bolster economic and trade cooperation, foster mutual investment, and establish...

Building something even near the scale of what OpenAI, Microsoft or Google have on offer would require billions in investment on chips and quality human resources. OpenAI bled around $540 million last year as it developed ChatGPT and says it needs $100 billion to meet its ambitions.

Dubai, UAE-- The UAE is keen to strengthen economic ties with the Central Asian states, which offer many investment opportunities. This was stated by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, who is leading a UAE delegation of government officials to Kazan, the capital of...

AJMAN, UAE -   Chairman of the Ajman Chamber of Commerce and Industry (ACCI) Abdullah Al Muwaiji discussed trade and investment opportunities with Ambassador of the Kingdom of Belgium to the UAE Antoine Delcourt and his delegation. The meeting, held at the Ajman Chamber's headquarters, was attended by Mohamed Ali Al...

The investments this year account for 37 percent of the sector's total, and 17 percent of the total existing factories, the kingdom's Ministry of Industry and Mineral Resources said.

Tehran, Iran - Iran and Russia on Wednesday signed an agreement to construct the final part in the International North–South Transport Corridor (INSTC) that connects Russia to the Gulf and India. The INSTC, a freight network of ship, rail and road routes, covers some 7,200 kilometers (4,475 miles) between Russia, Azerbaijan,...

Finance Minister Bruno Le Maire gave no details of Monday's talks with Musk, saying simply that "all of today's investments are the fruit of months or even years of negotiations". During a US trip in December, Macron held an unannounced face-to-face meeting with Musk, saying later the two had had...

Doha, Qatar--Qatar Chamber (QC) has urged Vietnamese companies to benefit from the investment climate in Qatar and the investment incentives and facilities granted by the state to foreign investments in all sectors. Qatar Chamber board member Ali Abdullatif Al Misnad lauded the close relations between Qatar and Vietnam in all...

ABU DHABI, UAE - Emirates Development Bank (EDB) displayed its flexible and customized financing solutions in the Annual Investment Meeting, held at ADNEC here, local media reports said. The two-day event served as a platform for networking and connecting with experts, investors, companies, and SMEs. EDB's CEO, Ahmed Mohamed Al...

ABU DHABI, UAE- Oman and Etihad Rail Company signed an agreement with Vale, one of the world’s largest mining companies, to explore utilizing rail to transport iron ore and its derivatives between Oman and the UAE. It is likely to connect Vale’s industrial complex in Sohar Port and Freezone to...

"The SWF investment in climate tech will help sustain the shift away from the Gulf States' traditional source of income (oil and gas) as countries worldwide transition to cleaner energy sources. It will also create new opportunities for the countries in the region to thrive," he adds.

The company posted a net profit of $104 million for the quarter.

The firm's net profit soared to US$27.14mn in Q1 of 2023.

The company posted its highest-ever quarterly sales.

Riyadh, Saudi Arabia--Saudi Arabia is keen to deepen trade and economic ties with Italy from the current volume of trade estimated to be around US$8 billion. In this connection, the members of the Saudi business sector delegation, represented by the Saudi-Italian Business Council, concluded their visit to Italy, during which...

"The economic cooperation in these sectors has contributed to increasing joint trade and investment exchange," he said while attending the UAE-Iran Business Council’s inaugural meeting in the Iranian capital Tehran on the sidelines of the Iran Expo, which runs from May 7 to 10.

Bern, Switzerland-- Seeking to expand its industrial base, Saudi Arabia is keen to widen cooperation with Switzerland in the industrial and mining sectors, besides increasing access to non-oil exports. In this connection, the Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim AlKhorayef, held a meeting with Switzerland's State...

Revenues also grew significantly to reach $3.26 bn.

“The United States is a long-standing trade and investment partner for the UAE – and an important ally in the battle to develop alternative sources of energy,” said Al Zeyoudi, UAE's Minister of State for Foreign Trade.

Riyadh, Saudi Arabia - Saudi Arabia has approved new rules aimed at boosting foreign investment in the country's securities market.  The rules framed by the Capital Market Authority (CMA) include those for Foreign Investment in Securities, amendments to the Investment Accounts Instructions, amendments to the Implementing Regulation of the Companies...

Cairo, Egypt--Egypt has signed its biggest investment package with Japan aimed at supporting the North African country's transportation development plan. According to a statement released by Egypt's Cabinet, the agreement, worth 100 billion yen ($734 million), will be used to finance Cairo’s metro expansion, a 30-km stretch of land that...

Riyadh, Saudi Arabia-- Saudi Arabia is looking to attract some US$26 billion dollars worth of investment in the machinery and equipment sector, according to its Minister of Industry and Mineral Resources Bandar bin Ibrahim AlKhorayef. AlKhorayef, who is also Chairman of National Industrial Development Center (NIDC), announced that the industry...

Rabat, Morocco - The UAE is keen to strengthen economic and trade relations with Morocco, in a way that enhances the establishment of new partnerships that serve their interests in vital sectors and consolidate the strength of bilateral relations, UAE's Minister of Economy Abdullah bin Touq Al Marri has said....

The UAE also eyes investment opportunities with Cambodia in logistics and infrastructure, travel and tourism projects, and renewable energy, reports said.

Amman, Jordan-- Jordan's King Abdullah has called for enhancing the investment environment in the kingdom in order to propel economic growth and job creation. During a meeting at Al Husseiniya Palace on Wednesday to follow up on the implementation of the Investment Ministry’s action plan, King Abdullah highlighted the need...

Four out of nine ongoing megaprojects worldwide, with costs exceeding $100 billion each, are concentrated in the Arab Gulf States, a latest report highlights

Abu Dhabi, UAE - A UAE delegation led by Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, visited Belgium, aiming to strengthen economic ties and promoting investment opportunities with Brussels and the wider European Union (EU). The delegation discussed growing trade relations with Vladis Dombrovskis, European Commissioner...

Boeing's loss in the first quarter of 2022 was $1.2 billion.

London, UK— The UAE is looking to invest US$160 billion in the new economy sectors like renewable energy over the next three decades. This was stated by Abdullah bin Touq Al Marri, Minister of Economy, in his address at the 13th edition of the City Week 2023 Forum, in London,...

Beijing, China--Pummelled by a housing crisis that caused a record-breaking slump last year, some Chinese property developers are starting to see light at the end of the tunnel, but analysts warn the sector is still on course to slow down in the long term. The real estate industry grew at lightning...

Abu Dhabi, UAE - The UAE is among the largest international investors in Brazil, with an estimated US$5 billion in Emirati investments in South American country, with the presence of major Emirati companies such as Mubadala, the largest Emirati investor in Brazil, DP World, Emirates Airlines, First Abu Dhabi Bank,...

The bank will act as a strategic partner during listing of EIH.

Abu Dhabi, UAE - Egypt has over 3,000 Emirati companies operating in telecommunications, construction, smart cities, retail, oil and gas, ports, agriculture, hotels, and services. This was revealed by Jamal bin Saif Al Jarwan, Secretary-General of the UAE International Investors Council (UAEIIC). Giving further details, Al Jarwan said that the...

Abu Dhabi, UAE - The UAE led the Arab region in terms of investments in Egypt, Jamal bin Saif Al Jarwan, Secretary-General of the UAE International Investors Council (UAEIIC) said. It totaled $28 billion at the end of the first quarter of 2023, compared to $20 billion during the same...

Successful business leadership requires that we innovate and embrace change. This means a commitment to seek paths untrodden, embracing new technologies, willingness to take risks, experimenting with new ideas and strategies, and focusing on creating sustainable, long-term growth, he adds.

GENEVA, SWITZERLAND - The global transition to renewable energy will require greater investment in integrated weather and climate services, the World Meteorological Organization (WMO) said. This investment is critical to ensure that energy infrastructure is resilient to climate-related shocks and to harness the power of energy generated from sources such...

ABU DHABI, UAE - Labor disputes in Abu Dhabi plunged by 40 percent in 2022 compared to the same period in 2021, local media reports said. This follows awareness efforts which contributed to strengthening the legal knowledge of workers and companies, and introducing them to their rights guaranteed by the...