Browsing: Business

Banks in Lebanon are closing branches and laying off workers in droves, responding to the bleak reality of a crisis they are widely blamed for. The small country had a flourishing banking sector before facing a financial collapse that the

Prime Minister Najib Miqati said Friday that a new law for the ports, including the port of Beirut, is being prepared. He added, in a ceremony at the Grand Serail, that Beirut’s port must be rebuilt for it to attract

Rabee Securities is hosting a three-day event at the Iraq Pavilion at EXPO 2020 in order to showcase Iraq’s top technology start-ups. The most promising entrepreneurs in Iraq will present their ideas and interested parties will have a chance to

During a session held at the Baabda Palace, the Lebanon Cabinet approved the country’s state budget for 2022. At a press conference following the session, Prime Minister Najib Miqati said the budget is expected to generate revenues of LBP 39,000

Aldar Properties announced its preliminary financial results for the full year of 2021, reporting revenues of AED8.58 billion, up 2 percent year-on-year, a gross profit of AED3.60 billion, up 21 percent year-on-year, and a net profit of AED2.33 billion, up

The Abu Dhabi National Oil Company (ADNOC) announced today the discovery of natural gas resources offshore of the Emirate of Abu Dhabi. Interim results from the first exploration well in Abu Dhabi’s Offshore Block 2 Exploration Concession operated by Eni,

Governor of the Central Bank Riad Salameh announced recently that commercial banks can now purchase Lebanese bank notes for cash dollars based on the exchange rate of the Sayrafa platform. Reports suggest banks are short on Lebanese pounds and are

Aldar Properties PJSC (Aldar), through its Aldar Investment business, has made its first investment in Ras Al Khaimah, acquiring the 27,000 sqm Al Hamra Mall developed by Al Hamra, a Ras Al Khaimah based real estate development and investment company,

The Ministry of Finance has announced that the UAE will introduce a federal corporate tax on business profits that will be effective for financial years starting on or after 1st June 2023. Businesses will become subject to UAE corporate tax

Arada, a Sharjah-based development company, has purchased the last remaining beachfront land plot on the Crescent of the world-famous, award-winning Palm Jumeirah, marking the fast-growing developer’s first project outside Sharjah and its entry into the Dubai property market.Valued at AED240