Masdar, PLN push to build world’s largest floating solar plant
Dubai, UAE -- Abu Dhabi Future Energy Company (Masdar) has signed agreements to collaborate with Indonesia’s state-owned utility company, PLN,...
Business
Geostrategy
UAE, Oman education ministers discuss cooperation in the sector
MUSCAT, OMAN - UAE Minister of Education Dr. Ahmad Belhoul Al Falasi and Oman Minister of Education Dr. Madiha bint...
- The meeting was held in Muscat and aimed at boosting the coordination and cooperation between the two friendly countries.
- The two sides also discussed the exchange of expertise in the field of curriculum development and international tests
Business
Roadmap for startups on agenda of MENA’s only IPO-focused summit
The summit, which will be held from 23-25 Jan, 2023, ""will shed light on the strong impetus and promising prospects...
- The DFM saw the listing of five government-related and private sector companies--DEWA, Tecom, Salik, Empower and Taaleem--in 2022.
- A total of AED 31 billion ($8.4 billion) were raised by these companies in the IPOs, which were subscribed multiple times over, drawing AED 672 billion.
Videos
Gulf states stare at slower GDP growth in 2023
The world, according to the latest World Bank report, may be edging toward a global recession this year. Here is...
- The world may be edging toward a global recession in 2023 and a string of financial crises in emerging market and developing economies, according to the World Bank.
- The head of the IMF, Kristalina Georgieva, also talked of a tougher 12 months ahead and expects a third of the world to experience a recession.
Arts & Culture
Show goes on at Palestinian theaters despite siege
Freedom Theatre's ability to provide Jenin residents with respite is under growing strain due to repeated raids by Israeli forces.
- Ahead of the opening night of the theatre's latest production, "Metro Gaza", the creatives woke up to find three Palestinians had been killed in an Israeli operation.
- Jerusalem's El-Hakawati has seen its audiences dwindle since Israel began constructing a barrier around the West Bank in the early 2000s.
Geostrategy
Iran executes two more men in connection with protests
PARIS, FRANCE - Iran on Saturday executed two men for killing a paramilitary force member during unprecedented protests sparked by the...
- The latest hangings double the number of executions to four over the nationwide protests.
- Two men were put to death in December, sparking global outrage and new Western sanctions against Iran.
Geostrategy
Jordan imported 3.65m barrels of Iraqi oil from September 2021 to December 2022
AMMAN, JORDAN - Jordan's total imports of Iraqi oil between September 2021 to December 2022 amounted to 3.65 million barrels,...
- The Jordanian Minister said that the Kingdom purchases Iraqi crude oil to meet part of its annual oil needs at a rate of 10,000 barrels per day.
- As per the MoU, the Kingdom provides basin tanks for transporting crude oil from the Kirkuk depot in Iraq to the Jordanian oil refinery in Zarqa.
Business
Qatar records weekly real estate deals worth $612 million
Doha, Qatar-- Real estate sales worth more than 2.25 billion Qatari Riyals ($612 million) were registered at the emirate's Real...
- The weekly bulletin issued by the Real Estate Registration Department stated that the list of real estate traded for sale included vacant lands, residences.
- Most of the deals were concentrated in the municipalities of Doha, Al Rayyan, Al Wakra, Umm Salal, Al Daayen, Al Khor, and Al Thakhira.
Geostrategy
Bayern head to Doha promising to review Qatar Airways deal
Berlin, Germany--Bayern Munich CEO Oliver Kahn said on Friday the side was reviewing whether to renew its sponsorship arrangements with Qatar...
- Bayern have come under criticism for their ties to Doha and the state-owned carrier in relation to alleged human rights issues in Qatar.
- In Qatar, the German national side backtracked on a promise to wear a 'One Love' armband in support of human rights and diversity.
Economy
World food prices hit record high in 2022, rice becoming costlier
Food prices soared to a monthly record high in March after Russia invaded agricultural powerhouse Ukraine, a major supplier of...
- FAO price index, which tracks the monthly change in international prices of a basket of food commodities, fell to 132.4 points in Dec, a 1.9 percent drop from Nov.
- But the index was 14.3 percent higher overall in 2022 compared to the previous year as it reached an all-time high of 143.7 points.
Business
Dubai records over $762 million in realty transactions Thursday
Dubai, UAE---Dubai real estate market recorded deals worth AED2.8 billion ($762 million) on Thursday, Dubai Land Department said. These included...
- These included 516 sales transactions worth AED1.73 billion, in addition to 71 mortgage deals of AED596.74 million.
- The sales included 455 villas and apartments worth AED1.5 billion, and 61 land plots worth AED235.09 million.
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Company News
SAB sees $26m negotiated deal
Business
Latest News
Aramco, IHC among biggest companies in Middle East
Energy, banking and financial services, and industrial sector companies are among the largest in the Middle East, especially the Gulf...
Infographics
Picasso’s ‘Woman With a Watch’ to be exhibited in Dubai on Sept 25-26
This would be for the first time that the painting has been exhibited outside of the United States in over...
Arts & Culture
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Business
BFB, The Family Office sign partnership
Bahrain FinTech Bay is a fintech ecosystem builder.
- BFB said that it will also explore the development of innovative digital investment solutions aligned with market trends.
- Bader Sater, CEO of Bahrain FinTech Bay. "Our combined strengths will lead to the creation of cutting-edge digital investment offerings that cater to the market's evolving needs."
Business
Iran steel production to rise by 22% in two years to 55MT annually
Tehran, Iran -- Iran’s annual steel production capacity is expected to increase by more than 22 percent within the next...
- A senior official said that Iran’s steel output capacity had increased by more than six times in 20 years to reach a current figure of 45 million mt per year.
- Iran is seeking greater access to export target markets as the domestic demand for steel is expected to stay at a present level of 20 million mt per year in the coming years.
Economy
Saudi ministry inks economic pact with Alfaisal University
RIYADH, SAUDI ARABIA - The Kingdom's Ministry of Economy and Planning signed a deal with Alfaisal University to promote economic...
- Under the MoU, the two parties will cooperate to promote economic development, activate academic research.
- The Ministry of Economy and Planning will provide consultations on the use of university resources such as student research.