UAE investments in Egypt rise by 169% in 6 months
The data of the Egyptian Central Agency for Public Mobilisation and Statistics (CAPMAS) has revealed that the value of Emirati investments in Egypt increased to US$1.9 billion (AED6.98 billion) during the first half of the 2021-2022 fiscal year, compared to US$712.6 million (AED2.617 billion) during the same period of the fiscal year 2020-2021, an […]
Erith Group to set up industrial plant in Ras Al Khaimah
Dubai-based Erith Group has announced the establishment of an industrial-scale production plant of sealing products, Erith Industries, at the Al Hamra Industrial Area in Ras Al Khaimah, UAE, which will reduce and eliminate the need to import foreign sealing products and solutions and will eventually increase the export to other countries after meeting the domestic […]
GCC banks’ profits, assets get a major boost from high oil prices
The GCC banks showed strong performance in their bottom lines in the second quarter of this year with net profits and assets reaching record levels, thanks to high oil prices. According to Kamco Invest’s latest quarterly report released on Sunday, GCC banking sector net profits reached another record level of $11.1 billion (Dh40.7 billion) in […]
Mohammed bin Rashid issues law affiliating Dubai Media Inc. to Dubai Media Council
In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, has issued Law No. (6) of 2022 affiliating Dubai Media Incorporated (DMI) to Dubai Media Council and endorsing its objectives, tasks, and organisational structure. DMI was established pursuant to Law No. (8) of […]
Dubai: RTA saves ‘record’ over $23mln using 36 green initiatives
A series of green economy initiatives launched by Dubai’s Roads and Transport Authority (RTA) has resulted in “record” savings of Dh85 million. Through 36 initiatives, the authority has saved 68 million kilowatt-hours of electricity, 55 million gallons of water, 21 million litres of gasoline, and 1.8 million litres of diesel. The authority has achieved a […]