News

Italy unveils new $17.4 billion package against inflation

4/08/2022

Italy approved on Thursday a new aid package worth around 17 billion euros ($17.4 billion) to help shield firms and families from surging energy costs and rising consumer prices. The scheme, one of the last major acts by outgoing Prime Minister Mario Draghi before a national election next month, comes on top of some 35 […]

Morocco Has Invested $5.2 Billion in Solar Energy Projects

2/08/2022

Morocco has invested $5.2 billion in solar projects so far, with the Noor Ouarzazate complex serving as an example of the country’s potential regarding renewable energy.  In an interview with Forbes, Morocco’s Minister of Energy Transition and Sustainable Development Leila Benali said that she wants the North African country to become a “destination for renewable energy.” In […]

Suez Canal achieves highest monthly revenue in its history at $704M

2/08/2022

The Suez Canal achieved the highest monthly revenue in its history with an annual increase of 32.4 percent, reaching $704 million during July 2022, up from $531.8 million during the same month of 2021, according to head of the Suez Canal Authority (SCA), Osama Rabie. Rabie added in a statement, Tuesday, that the navigation statistics in […]

National Bank of Bahrain reports 34% jump in Q2 net profit to $53mln

2/08/2022

National Bank of Bahrain (NBB) has reported a 34% increase in its net profit attributable to equity shareholders to BD20 million ($53.1 million) for the second quarter ended June 30, 2022, compared to BD14.9 million in the same period of 2021. The increase in net profit is mainly due to strong business fundamentals reflected through […]

UAE continues to maintain its regional and international leadership in tourism

2/08/2022

The UAE is continuing to maintain its regional and international leadership as a distinguished travel destination and a preferred country for living and working.Due to the directives of its leadership, the country witnessed progress in terms of outcomes and indicators, which confirmed its recovery from the COVID-19 pandemic.The country has strengthened its position on the […]

Egypt’s agriculture exports hit 4.2mln tons in 6 months

1/08/2022

The volume of Egyptian agricultural exports has reached around 4.191 million tons during the period from January 1st until June 27th, Minister of Agriculture and Land Reclamation El-Sayd El-Qusair revealed in an official statement on June 29th. Exports of citrus amounted to 1.611 million tons in the January-June period of the year, while exports of fresh […]

Saudi Arabia’s GDP grows 11.8% in Q2

1/08/2022

The Real Gross Domestic Product (GDP) of Saudi Arabia witnessed a growth rate of 11.8% in Q2/2022 compared to Q2/2021, according to flash estimates by the General Authority for Statistics (GASTAT).  This dynamic growth was mainly due to the growth in oil activities by 23.1%. Non-oil activities grew by 5.4% in Q2/2022, and the government services […]

JIACC welcomes LY International Italia

We are proud to announce our new member: Y International Italia Y International Italia is a Lulu Group International wholly-owned subsidiary and operates as the Italian & EU Buying Offices for the Gulf-based store-chain hypermarkets.

LuLu expands in Abu Dhabi and Dubai through its new concept stores

29/07/2022

The Al Noud wholesale concept store was inaugurated by Ahamed Omran Al Ameri on July 25, whilst the Dubai LuLu Express was inaugurated by Abdullah Saeed Salem ALZaabbi, director of external branches department, Dubai Economy. The single level, compact LuLu Express store brings shoppers all the ease and convenience of the with an extensive range […]

Abu Dhabi petrochemical, technology firms post strong first- half profits

29/07/2022

Borouge says its net income increased 2.5 per cent to $853 million; Multiply Group declares Dh462 million in net profit; Response Plus Holding posts a net profit of Dh20.6 million Abu Dhabi-based petrochemical and technology companies on Thursday reported strong results for the first half of 2022.Borouge, a petrochemical company, said its net income increased […]

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