DMCC, a key flagship free zone in Dubai, has reported its best ever performance for H1 registering 1,469 new companies in the first six months of 2022, up 19% over last year. The growth was mainly driven by strong commodities trade performance.

Bahrain Polytechnic’s Bachelor of Business Studies Marketing faculty held its annual Marketing Awards ceremony, yesterday (July 2), at the Downtown Rotana, in Bahrain.

Issues such as Arab food security, fertiliser supply for Brazilian agribusiness and the adoption of new business practices in a post-pandemic market will be discussed at the fourth Economic Forum Brazil & Arab Countries.

Kamco Invest said it had played advisor to Qurain Petrochemical Industries Company (QPIC) in its purchase of a 9% stake in leading Kuwaiti group Advanced Technology Company (ATC). This marks the first acquisition through Partial Purchase Offer in Kuwait.

STRONG COVID RESPONSE HELPS
Bahrain’s economic activity is set for a moderate rebound thanks to a renewed fiscal reform momentum driven by the recent doubling of the VAT rate to 10% and high oil prices, and over the medium-term, growth is set to stabilize at 3%, according to IMF.

AD Ports Group said it has entered into a deal to acquire a 70% stake in International Associated Cargo Carrier BV, which wholly owns two Egypt-based maritime companies, Transmar International Shipping Company and Transcargo International (TCI).

Saudi wealth fund PIF has set up a new aircraft leasing firm, AviLease, in bid to become a leading institution in aviation leasing sector, maintaining an optimal portfolio of assets with its core focus on leasing, trading and asset management services.

Saudi Global Ports has reached an agreement with Shanghai Zhenhua Heavy Industries Company to manufacture three state-of-the-art quay cranes for the King Abdulaziz Port in Dammam, according to a Saudi news report.

Schneider Electric, a leader in digital transformation of energy management and automation, has launched its debut sustainability awards, a key initiative to recognise the critical role played by partners in delivering a more resilient electric world.

Some 60% of businesses in the UAE and the Kingdom of Saudi Arabia (KSA) do not have a framework governing their environment, social and governance (ESG) standards, according to a new survey.

The Sharjah Chamber of Commerce and Industry (SCCI) and Emirates Development Bank (EDB) have explored a number of flexible development solutions for investors as well as small and medium enterprises (SMEs).

$2.72bn INVESTMENT STRATEGY
Abu Dhabi Government has announced plans to invest AED10 billion ($2.72 billion) across six programmes to more than double the size of the UAE emirate's manufacturing sector to AED172 billion ($46.83 billion) by 2031.