UN chief slams ‘distressing’ spending on arms over climate
Without action, "the situation will deteriorate," he warned. "Conflicts are multiplying. The climate crisis is set to spiral, as emissions...
Makeen, Rolls-Royce forge partnership
They will manufacture, test, sell and service mtu engines in Saudi.
Business
YEARBOOK 2023
From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...
- UAE launched ALTÉRRA, the world’s largest private investment climate action vehicle, aimed at raising and mobilizing an additional $250bn for climate action.
- Despite global headwinds, CBUAE projects 3.3 percent year-on-year growth projected for the UAE economy in 2024.
Geostrategy
5 WEF reports shaping your 2024 agenda
From AI to the future of jobs and slow climb to gender parity, WEF reports provide insights into some of...
- Buffeted by a global energy crisis, inflationary pressures and geopolitical instability, the move to clean energy has faced a challenging time.
- This year's top 10 emerging technologies will likely become increasingly familiar in the years ahead as they help tackle some of our biggest challenges.
Business
Saudi AZM gets independent director
Omar bin Fahd Al-Sunaidi's term will extend until Jun 2026.
- The decision was made at the firm’s Fourth Ordinary General Assembly meeting.
- The assembly concluded with the appointment of PricewaterhouseCoopers (PwC) as the auditor for the Company's 2024 fiscal year.
Business
QatarEnergy, Shell sign agreement
QatarEnergy will supply 18m barrels of crude oil per year to Shell.
- QatarEnergy and Shell have a long-standing strategic partnership through several shared investments in the energy industry in Qatar and globally.
- "We look forward to building on our historic relationship and hope we achieve greater success with Shell," said Saad bin Sherida Al Kaabi, CEO QatarEnergy
Geostrategy
Palestinian Monetary Authority condemns Israeli raids on exchange firms
Ramallah, Palestinian Territories -- The Palestinian Monetary Authority (PMA) said Thursday that the Israeli occupation army’s storming of six exchange...
- The occupation forces raided six exchange companies in different cities in the West Bank, Palestinian news agency WAFA reported.
- They also arrested several of their owners and seized money from their safes after blowing them open.
Business
ESG buys 60% stake in AFKAR
Emirates Stallions Group is an IHC subsidiary.
- AFKAR has been active in various sectors including commercial enterprise investment, institution and management.
- AFKAR has recorded a 13 percent increase in assets and a 10 percent rise in revenue during the past 3 years, underpinned by a workforce of over 600 employees.
Business
AD Ports, RSPA to develop and operate terminal in Egypt’s Safaga Port
Cairo, Egypt -- AD Ports Group (AD Ports) has signed a concession agreement with the Red Sea Ports Authority (RSPA)...
- The Safaga Port definitive agreement, sanctioned under the Law on the Granting of Commitment Contract issued on 1st November 2023, will see an investment of US$200 million.
- The terminal, spanning approximately 810,000 square meters, will feature a 1,000-metre quay wall and will handle diverse cargo types.
Business
Cornerstone laid for $40 million logistics park at King Abdulaziz Port
Riyadh, Saudi Arabia -- The cornerstone was laid for an integrated SAR150 million ($39.99 million) Logistics Park at Dammam's King...
- The area of the new park is 100,000 sq. meters, with capacity of 300,000 TEUs annually.
- It aims to facilitate the growth of shipping connectivity, and global logistics services, and to raise the quality and efficiency of services.
Business
SAMA seeks public feedback on financial governance amendments
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has invited interested parties and specialists concerned with “Key Principles of...
- The amended key principles aim to keep alignment with the latest regulatory changes and updates in the new Companies Law and its Implementing Regulations.
- Suggestions and observations on the draft will be received within (15) days of this announcement for assessing their relevance in finalizing the draft, SAMA added.
Business
New UAE law allows employees merge work years for free
Abu, Dhabi, UAE -- A new UAE law contributes to enhancing insured Emiratis chance in obtaining a retirement pension by...
- The cost of merging service years is paid prior to ending the employment period in one lump sum and within 30 days from the date of approving the merge request.
- GPSSA added that if a pensioner returns to work, he/she may merge the entitled service period by which he/she was entitled to a pension to the new service years.
UN chief slams ‘distressing’ spending on arms over climate
Without action, "the situation will deteriorate," he warned. "Conflicts are multiplying. The climate crisis is set to spiral, as emissions...
Company News
MODON launches 10 projects
Business
Latest News
Cyberattack hits hundreds of US businesses
A US IT company urges customers to shut down their servers after the attack UN Security Council members recently warned...
Oil prices extend gains after OPEC+ talks fail, equities mixed
Brent broke above $77 for the first time since 2018 Breakdown of talks raises the possibility of $100 a barrel...
5 WEF reports shaping your 2024 agenda
Geostrategy
Saudi AZM gets independent director
Omar bin Fahd Al-Sunaidi's term will extend until Jun 2026.
Business
QatarEnergy, Shell sign agreement
QatarEnergy will supply 18m barrels of crude oil per year to Shell.
Business
Palestinian Monetary Authority condemns Israeli raids on exchange firms
Ramallah, Palestinian Territories -- The Palestinian Monetary Authority (PMA) said Thursday that the Israeli occupation army’s storming of six exchange...
Geostrategy
Most Read
Business
AD Ports, RSPA to develop and operate terminal in Egypt’s Safaga Port
Cairo, Egypt -- AD Ports Group (AD Ports) has signed a concession agreement with the Red Sea Ports Authority (RSPA)...
- The Safaga Port definitive agreement, sanctioned under the Law on the Granting of Commitment Contract issued on 1st November 2023, will see an investment of US$200 million.
- The terminal, spanning approximately 810,000 square meters, will feature a 1,000-metre quay wall and will handle diverse cargo types.
Business
Cornerstone laid for $40 million logistics park at King Abdulaziz Port
Riyadh, Saudi Arabia -- The cornerstone was laid for an integrated SAR150 million ($39.99 million) Logistics Park at Dammam's King...
- The area of the new park is 100,000 sq. meters, with capacity of 300,000 TEUs annually.
- It aims to facilitate the growth of shipping connectivity, and global logistics services, and to raise the quality and efficiency of services.
Business
SAMA seeks public feedback on financial governance amendments
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has invited interested parties and specialists concerned with “Key Principles of...
- The amended key principles aim to keep alignment with the latest regulatory changes and updates in the new Companies Law and its Implementing Regulations.
- Suggestions and observations on the draft will be received within (15) days of this announcement for assessing their relevance in finalizing the draft, SAMA added.