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Dubai International Chamber wins over 92 businesses in first 9 months of 2023
Dubai, UAE--Dubai International Chamber has attracted a total of 92 businesses, including 15 multinational companies and 77 SMEs, to the emirate between January and September 2023. The chamber has also supported the successful expansion of 33 Dubai-based companies into global markets, either by increasing their exports or helping them to...
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Saudi Arabia, Pakistan ink pact on digital transformation, innovation
RIYADH, SAUDI ARABIA - The Kingdom of Saudi Arabia signed a memorandum of understanding (MoU) with Pakistan here on Sunday to expand bilateral cooperation in communications and information technology by accelerating digital transformation, promoting innovation and developing digital infrastructure. Saudi Arabia’s Minister of Communications and Information Technology Eng. Abdullah Alswaha... -
More than 1,800 new companies set up businesses in RAKEZ in Q1
Ras Al Khaimah, UAE--More than 1,800 new companies have set up their businesses in Ras Al Khaimah Economic Zone (RAKEZ) in the first quarter of 2023, registering a 122 percent jump as against the same period of last year. Ramy Jallad, CEO of Ras Al Khaimah Economic Zone (RAKEZ), said... -
Meydan Free Zone-ADIB pact to promote SMEs, sustainability in economy
Abu Dhabi, UAE-- The recent partnership signed between Abu Dhabi Islamic Bank (ADIB) and Meydan Free Zone is expected to promote SMEs and sustainability in the economy. Through this partnership, trade licence holders within the Meydan Free Zone will have access to ADIB's diverse range of business banking products and... -
EDB review ways to boost SMEs financial inclusion at 2-day event
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... -
OPEC Fund to support SMEs in Paraguay with US$50mn funding
Vienna, Austria— Continuing with its initiative to support businesses across the world, the OPEC Fund for International Development (the OPEC Fund) is providing a US$50 million loan to Banco Continental in Paraguay for on-lending to small- and medium-sized enterprises (SMEs) in agricultural and livestock sectors. The investment is part of... -
Saudi Arabia and South Korea sign several MoUs to deepen ties
Riyadh, Saudi Arabia--Saudi Arabia and South Korea have signed multiple memorandum of understandings aimed at supporting SMEs, along with enabling entrepreneurs to enter the field with more confidence and emphasis. The two countries also looked at ways to enhance cooperation in the fields of entrepreneurship and innovation, as the Kingdom’s... -
Qatar’s industrial investments in 2022 vault to US$81 billion
Doha, Qatar-- The the SMEs sector grew by 2.6 per cent, as the number of operating factories in the state increased from 814 in 2021 to 835 last year, in addition to the presence of 430 new industrial licensed facilities, indicating that the volume of industrial investments amounts to $81... -
QDB unveils green financing
It will target Qatar-based small and medium enterprises. -
Jada to promote startups
It will collaborate with Invest Seoul Agency for the venture. -
UAE’s Ministry of Climate Change and EDB partner to help SMEs
The Ministry of Climate Change and Environment (MoCCAE) and Emirates Development Bank (EDB) have joined hands to set up a scheme to offer finance solutions to modern agricultural SMEs and start-ups. -
EDB to showcase its financing solutions at ‘Make it in Emirates Forum’
Emirates Development Bank (EDB) will participate in the first "Make it in the Emirates Forum" to be held on 21-22 June at ADNOC Business Centre, Abu Dhabi. It will use the Forum to underline how its range of flexible financing solutions can help large corporates and SMEs to expand, diversify... -
EDB to provide financial support to SMEs, startups in free zones
The Emirates Development Bank (EDB) has teamed up with the Hamriyah Free Zone in Sharjah and the Sharjah Airport International Free Zone (SAIF) to provide financial support to small and medium-sized enterprises (SMEs) and startups operating in the free zones. -
SME development in Gulf region still in early stages
It is essential to know that the governments can't and shouldn't do everything independently to encourage their national talents. A practical partnership between the public and private sectors is the only way forward in terms of cultivating and encouraging indigenous talent, he adds. -
UAE and South Korea sign agreement to boost ties
The UAE and South Korea have signed an agreement to boost ties between the two countries to develop entrepreneurship and scale up relationship between SMEs. The MoU was signed by Abdullah Al Saleh, Under-Secretary of the Ministry of Economy; and Kim Ki-mun, Chairman of KBIZ, in the presence of Dr.... -
Social Development Bank extends $2.93bn support to Saudi entrepreneurs
The bank announced this while participating in the Global Entrepreneurship Congress (GEC) in Riyadh. -
Saudi Arabia supports SMEs with $80bn cash injection
In order to protect SMEs from economic recession, Saudi Arabia provided more than $80 billion in support to the businesses, according to the head of the authority known as Monshaat. -
Licensed firms and SMEs account for bulk of AFZ procurement
Licensed companies and small and medium enterprises (SMEs) accounted for 51 per cent of Ajman Free Zone’s total procurement of goods and services in 2021, a recent report released by the free zone showed. The report also revealed that 24 per cent of the total purchases and contracts made last... -
UAE, New Zealand partner to strengthen trade relations
According to Statistics New Zealand, the total two-way trade between New Zealand and the UAE in 2021 reached AED8.63 billion ($2.35 million). -
WB ready to pair with Tunisia to implement reform program
The World Bank has also offered to continue the implementation of ongoing cooperation projects in the country. -
Kuwait launches 2nd edition of initiative for youngsters’ business
Kuwait's Youth Authority on Saturday, February 12, launched the second edition of the ‘professional initiator’ program -
OPEC Fund extends $35m loan to support Vietnam SMEs
The amount will reportedly be given to the Vietnam-based Southeast Asia Commercial Joint Stock Bank (SeABank) for on-lending. -
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... -
RAKEZ to partner with CBD for easy access to bank’s services
Ras Al Khaimah Economic Zone (RAKEZ) has entered into a strategic alliance with the Commercial Bank of Dubai (CBD) to provide RAKEZ clients with quick and convenient access to the bank's products and services. A Memorandum of Understanding (MoU) was signed by Ramy Jallad, Group CEO of RAKEZ, and Dr.... -
France looks to expand its presence in UAE agri-food sector
France is negotiating an agreement with the United Arab Emirates (UAE) that would allow French Small and Medium-sized Enterprises (SMEs) to expand its presence in agri-food sector of the UAE. -
OFID to support Paraguay SMEs, agriculture
OFID has signed a term loan agreement for $30 million with Banco Regional of Paraguay, the third of its kind to the country. Proceeds from the first tranche were loaned to the agriculture sector. The second facility provided 53 sub-loans to Paraguayan enterprises for international trade finance purpose. -
Fedex arm plans Saudi growth
FedEx Express is a subsidiary of FedEx Corp. -
Khalifa Fund network to help Abu Dhabi SMEs
The network, called the AD SME Tribe, will enable the growth of enterprises through community-focused guidance. -
Arab world warming up to data analytics: Expert
Data analysts are already helping businesses set marketing strategies, explains Jadd Elliot Dib, founder and CEO of Pangaea X. -
EDB to push Ajman growth
The EDB-Ajman MoU is in line with the Make it in the Emirates Campaign. -
Fourth cycle of Dubai SME 100 gets underway
The fourth cycle is expected to highlight SMEs in Dubai that have shown resilience and progress despite the Covid-19 pandemic. -
EDB, Emirates NBD sign MoU to guarantee credit for SMEs
The program will focus on sectors such as manufacturing, healthcare, infrastructure, food security, and technology. -
Oman Shell updates SME training
The new program will build the capabilities of entrepreneurs. -
DP World to help SMEs with trade finance
This is part of its strategy to become a global trade enabler. -
Licenses issued by Ajman rise 117 percent in H1 2021
Bulk of licenses issued to building maintenance activities, restaurants import and export, retail of canned and preserved foodstuffs. -
Emirates Development Bank allocates $8.17m to finance SMEs via Beehive
Emirates Development Bank has signed an agreement with peer-to-peer platform Beehive to expand funding options for the small and medium-sized enterprises. -
OFID lends $25 million to Banco Ficohsa to bolster SMEs in Honduras
The bank is expected to use this to grant further loans to SMEs hit by Covid-19 and hurricanes This is the fourth OFID loan to Banco Ficohsa The OPEC Fund for International Development has sanctioned a loan of $25 million to Honduran lender Banco Ficohsa, said local reports on Friday,... -
Batelco revamps 5G packages for entrepreneurs, SMEs
The move is expected to enable entrepreneurs, SMES, and large corporations to experience the fastest and largest 5G network in Bahrain The enhanced packages deliver speeds six times faster than 4G, and higher data capacity Bahrain's principal telecommunications company Batelco has revamped its 5G Mobile Business Broadband packages... -
Family Business Council Gulf to host first ‘Family Business Awards’ in GCC
Award categories are SME Family Business, Non-Family Executive, NexGen Venture and NexGen Innovation Family businesses contribute to 60 percent GDP of the GCC The Family Business Council Gulf (FBCG) has unveiled the first ‘Family Business Awards’ in the GCC region to honor organizations for their continued success across... -
SMEs in Dubai will be encouraged to bid for govt tenders
*Dubai finance ministry and Dubai SME sign MoU * SME owners will be encouraged to register in the ministry's Federal Supplier Register Dubai’s Ministry of Finance recently signed a Memorandum of Understanding with Dubai SME to support the business sector and advance comprehensive and sustainable development in the country. Under...