Category Archives: Business & Investments

Business & Investments

Lootah Biofuels reaffirms contribution to achieve national policy on biofuels goals

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  • 6 million liters biofuels production annually and plans to increase production with the opening of the factory in Abu Dhabi
  • Partnerships with leading global companies to develop advanced biofuel technologies and improve productivity.

Dubai, United Arab Emirates- 02 April 2024:

Lootah Biofuels, a leading circular economy company producing biofuel from cooking oil in the UAE, has reaffirmed its commitment to contribute to achieving the objectives of the National Policy on Biofuel trade and manufacturing, recently approved by the UAE Cabinet to support the country’s sustainability and Net Zero strategies by enhancing clean and sustainable energy sources.

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Business & Investments

Philip Morris International: Smoke-free products reached nearly 40% of total PMI net revenues in the fourth quarter 2023, and over 40% of gross profit.

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Philip Morris International: Smoke-free products reached nearly 40% of total PMI net revenues in the fourth quarter 2023, and over 40% of gross profit.

As of December 31, 2023, Philip Morris International’s smoke-free products were available in 84 markets, including 25 markets with smoke-free products accounting for more than 50% of the company’s total top-line in 2023

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Business & Investments

Growing UAE Saving Culture Propels National Bonds Investments to Record AED 14 billion in 2023

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Growing UAE Saving Culture Propels National Bonds Investments to Record AED 14 billion in 2023

  • National Bonds distributed AED 2.9 billion in profit payouts and prizes
  • Bond holders have earned up to 5.84% in returns on their savings for 2023

Dubai, UAE, 02 April 2024

National Bonds, a leading Sharia-compliant savings and investment company in the UAE, today announced another remarkable year marked by significant growth, consistent profit sharing for customers, and a relentless focus on profound customer engagement, as evidenced by the introduction of novel saving solutions and ongoing digitization efforts.

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Business & Investments

Sobha Group announces Sobha Furniture’s factory

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Sobha Group announces Sobha Furniture’s factory, with state-of-the-art fully automated facility at Dubai Industrial City

  • Sobha Furniture factory marks another step towards stronger vertical integration for Sobha Group

Dubai, UAE, 2nd April 2024: Sobha Group, a leading global luxury real estate developer, announced setting up Sobha Furniture’s second factory by signing a land lease agreement with Dubai Industrial City (DIC), the region’s leading industrial hub, to build a facility approximately valued at AED 450million. The state-of-the-art factory is set to be the largest fully automated facilities in UAE.  

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Business & Investments

Network International signs exclusive processing agreement with KamelPay

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Network International signs exclusive processing agreement with KamelPay

  • KamelPay envisages the expansion of its payroll program with the new partnership to over 200,000 customers in 2024
  • KamelPay will operate as an independent fintech in this exclusive partnership with Network International

UAE, 01 April 2024: KamelPay, one of the fastest growing fintech payroll services providers in the UAE, has engaged Network International (Network), the leading enabler of digital commerce across the Middle East and Africa (MEA) region, in an exclusive five-year processor agreement.

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