Adjusted EBITDA rises to $2.36bn.
UAE to curb terror financing, money laundering in gold trading businesses
The companies were asked to speed up the amendment of their conditions to avoid penalties stipulated by the Federal Law The measures could lead to suspension of the license or closure of the facility itself The UAE Ministry of Economy (MoE) has called on establishments belonging to the Designated Non-Financial...
UAE offers to mediate between Israel, Palestine
Egypt has been instrumental in a recent Israel-Palestine ceasefire in the region The UAE has said the "Abraham Accords" would benefit the Palestinians Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan was quoted by state media as saying on Sunday that the United Arab Emirates is ready to facilitate...
UAE minister continues visits aimed at cutting carbon footprint
*Visits also aimed at highlighting examples of successful ventures * EGA has invested $1 billion in environmental technologies since 2010 Dr Abdullah Belhaif Al Nuaimi, United Arab Emirates cabinet member and minister of climate change and environment, on Sunday toured Emirates Global Aluminium’s site in Dubai, as part of a...
Double Taxation Agreement between UAE, Jamaica
The agreement will foster cooperation between the tax authorities in the UAE and Jamaica Objectives of the bilateral tax agreement are to provide full protection of taxpayers against double taxation Jamaica's Cabinet has given approval for the Double Taxation Agreement between the United Arab Emirates (UAE) and Jamaica. The agreement...
UAE to provide low cost, low carbon energy as global demand grows
The UAE has three of the largest and lowest-cost solar projects in the world The country is taking the lead in sustainable agricultural practices, the minister Dr Al Jaber said The UAE Minister of Industry and Advanced Technology and Special Envoy for Climate Change Dr. Sultan Ahmed Al Jaber said...
MENA: Saudi Arabia was top FDI destination in 2020
Saudi Arabia received $10.4 billion in investment FDI projects in the kingdom fell by 49 percent to 73 Amid all the doom and gloom brought on by the outbreak of coronavirus that badly hit the economies around the world, Saudi Arabia received a big boost to its economy last year...
DP World names new CEO for UAE Region, Jafza
Abdulla Bin Damithan has been appointed as the new CEO for the UAE region and Jafza of Dubai-based supply-chain logistics provider DP World He is taking over from Mohammed Al Muallem, who has been promoted to executive vice-president of the company Abdulla Bin Damithan has been appointed the new CEO...
New standardization, metrology legislation to drive UAE’s industrial sector: Sultan Al Jaber
New UAE standardization and metrology legislation will boost its industrial sector and national economy The standardization regulations will create an attractive atmosphere for local and international investors Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, has stated that the standardization and metrology system is an...
New distribution company to help Sharjah publishers reach global markets
New publishing company under the Emirates Publishers Association being set up The company will operate from the EPA headquarters near Expo Centre Sharjah Sharjah ruler Sheikh Sultan bin Muhammad Al Qasimi on Thursday, May 20, ordered the setting up of a new publishing company under the aegis of the Emirates...
Covid-19: Big MENA economies’ benchmark lending rates rise at snail’s pace
69 of the 82 countries tracked by CEIC data see the lending rates fall Saudi Arabia, UAE witness rise in rates by 0.8 and 0.3 bps Benchmark lending rates — the basic rates set by central banks in countries for banking institutions to follow — rose at a much slower...Part II: Competitiveness: UAE tops leading economies including Canada, Norway
The UAE has outperformed various advanced economies such as Sweden, Norway and Canada when its comes to competitiveness and has jumped 21 ranks between the years 2011 and 2018, according to a latest report. According to the latest edition of the World Competitiveness Yearbook 2018, published by the Swiss-based Insatiate...Competitiveness: UAE tops leading economies including Canada, Norway
The UAE has outperformed various advanced economies such as Sweden, Norway and Canada when its comes to competitiveness and has jumped 21 ranks between the years 2011 and 2018, according to a latest report. According to the latest edition of the World Competitiveness Yearbook 2018, published by the Swiss-based Insatiate...
Tech-tonic shift; AI taking the Middle East region by storm
Artificial intelligence (AI), undisputedly the best technological gift of the digital age, together with Internet of Things, blockchain and data analytics is fueling the Fourth Industrial Revolution around the world. And, the Middle East and North Africa nations, especially those in the Gulf Cooperation Council (GCC), have occupied a pioneering...Despite volatility, GCC healthcare industry witnesses good run
Private healthcare in the Gulf Cooperation Council (GCC) region, estimated at $62 billion in 2016, is forecasted to expand 8.7 percent annually, to reach $94 billion in 2021, according to MENA Research Partners (MRP), a leading research company in the region. Saudi Arabia and the UAE together represent more than...
Will Kingdom Holding’s shares look up this week?
Saudi Arabia’s billionaire Prince Alwaleed bin Talal, who was freed from nearly three-month detention on Saturday in Riyadh, is expected to return to his normal life at the earliest. Chairman of Riyadh-based Kingdom Holding Co. Alwaleed, who also owns stakes in Citigroup Inc., Twitter and the ride-hailing service Careem, will stay...
