Bloomberg The number of new licenses approved for foreign businesses in Saudi Arabia rose by 70 percent in the first quarter from a year earlier, according to the Saudi Arabia General Investment Authority. Applications from British and Chinese companies drove the increase, rising by 86 percent and 71 percent, respectively, Ibrahim Al Omar, governor of Sagia, as the kingdom’s investment-promotion ...

DUBAI / WAM Nasdaq Dubai on Sunday welcomed the listing of a $1.5 billion sukuk by Islamic Development Bank (IDB). The listing underlines Dubai’s role as the largest centre globally for sukuk listings by nominal value currently totalling $60.89 billion. IDB now has 10 sukuk listed on the Middle East’s international financial exchange with a total value of $12.54 billion. ...

ABU DHABI / WAM Total assets of the 10 UAE banks which disclosed their Q1-2019 financial stateme-nts soared to AED1.3 trillion, 3.1 percent up from AED1.26 trillion during corresponding period last year. According to financial analysts and international consultancy firms, the financial statements released recently by the UAE banks have beaten expectations, with the national banks outperforming other sectors in ...

Emirates Business Sharjah Investment and Development Authority (Shurooq) has unveiled three new luxury hospitality projects worth AED 130 million at ATM 2019, which are nearing completion and slated for an official launch in the second half (H2) of 2019. Situated in three distinct historical and natural sites across the emirate of Sharjah, the three projects are Al Faya Lodge at ...

Abu Dhabi / Emirates Business Etihad Airways unveiled a major Economy transformation programme starting with the cabin upgrade and refurbishment of 23 narrow-body Airbus A320 and A321 aircraft. The retrofit programme, which includes new personalised wireless streaming entertainment to smartphone and tablet devices, is scheduled for completion in August this year. The airline is also introducing a new and improved ...

Dubai / WAM Emirates Steel, the only integrated steel plant in UAE and a subsidiary of General Holding Corporation (Senaat), reaffirmed its commitment to developing and implementing best practices in health and safety while celebrating World Steel Safety Day. During the week, the company will welcome local, international organisations to exhibit their innovative health and safety solutions and foster dialogue ...

DUBAI / WAM Ticket prices for Expo 2020 Dubai were announced on Saturday, opening doors to a six-month global event that will feature cultural highlights, entertainment, and innovation. Organisers announced two options for individuals interested in exploring Expo 2020, with single-day or three-day passes. A single-day adult (18 and over) ticket will cost AED120 ($33), while a three-day pass, which ...

Dubai / WAM Etihad Credit Insurance (ECI), the UAE Federal credit insurance company, was voted in as an observer member of the Berne Union, the renowned global association that represents the global export credit and investment insurance industry. Joining the Berne Union will allow ECI to further fulfill its commitment in supporting UAE’s non-oil diversification strategy and helping UAE businesses ...

Dubai / Emirates Business Emirates, Premier Partner and the Official Airline of Expo 2020 Dubai, on Sunday unveiled the design and visitor experience concepts of its ultramodern pavilion for the 6 month mega-event. The Emirates Pavilion’s design and visitor experience will utilise interactive technologies and design-thinking focusing on the future of commercial aviation. Emirates has already broken ground on the ...

NURSULTAN / WAM Serikbay kazhy Oraz, Kazakhstan’s Supreme Mufti, stated that the UAE is one of the first countries to launch charity and humanitarian projects in Kazakhstan since it gained independence. He made this statement while receiving Hamad Salem bin Kordous Al Ameri, Director-General of Zayed Bin Sultan Al Nahyan Foundation for Charitable and Humanitarian Activities, and his delegation, accompanied ...