FAB becomes first MENA bank to publish TCFD climate report
Abu Dhabi, UAE -- First Abu Dhabi Bank (FAB) became the first MENA bank to publish a Task Force for...
Business
Business
Borouge and ADNOC sign agreement
ADNOC L&S will manage integrated logistics for Borouge.
- The pact covers transportation and handling operations for Borouge-manufactured polymer products at Khalifa Port for export.
- The new agreement will see 85 percent of its value flow back to the UAE’s economy, accelerating the development of critical local supply chain functions.
Business
Mubadala acquires stake in Sibur
This is the company's largest investment in Russia yet.
- The acquisition terms were agreed upon before Sibur's recent merger with TAIF.
- In 2015, Mubadala invested in Sibur’s transshipment terminal in Ust-Luga.
Business
NMC gross revenue in Q3 up
The number of patient encounters was 6.7m, compared to 3.7m in 2020.
- NMC Group's operating companies would exit administration and hand over the responsibilities to new ownership by the end of this year.
- The company, creditors and advisers are working to finalize the regulatory and approvals to enable the exit.
Business
Sharjah-Sao Paulo Business Forum explores economic cooperation
A forum organized by the Sharjah Chamber of Commerce and Industry (SCCI) brought together more than 100 businesspersons from the...
- More than 100 businesspersons from the two countries attended the forum organized by the Sharjah Chamber.
- Sau Paulo state accounts for 30 percent of the entire Brazilian economy and has the largest manufacturers of sugar, juices, coffee, and fruits.
Geostrategy
UN calls for more climate adaptation cash from COP26
Climate adaptation means adjusting to the current effects of climate change and preparing for its predicted impacts in the future.
- The approach is crucial in developing countries, which are more vulnerable to extreme weather caused by climate change.
- The cost of adapting to climate change in developing nations could reach $300 billion in 2030, said UNCTAD.
Economy
Tunisia in bailout talks with Saudi Arabia, UAE: Central banker
The birthplace of the Arab Spring uprisings, Tunisia has faced years of economic woes exacerbated by the coronavirus pandemic, with...
- Power grab in July by President Kais Saied put on hold Tunisia's talks with the IMF for a fourth bailout package.
- Years of political deadlock following 2011 revolution have left it with less than one percent growth and six percent inflation.
Geostrategy
UN urges ceasefire in Yemen’s Marib for ‘safe passage’
The security situation has been particularly difficult in Marib's Abdiya district, where the UN says the movement of aid and...
- Many displaced people have been caught in the line of fire in Marib, home to around 2.2 million refugees.
- The Huthis began a big push to seize Marib in February and, after a lull, they renewed their campaign in September.
Arts & Culture
For one week, Oman center-stage at T20 World Cup
The grass pitches of the 3,000-seat Al Amerat site are a long way from the days when cricket was first...
- Oman are playing in the T20 World Cup for the second time after a 2016 debut saw them stun Ireland at spectacular Dharamsala.
- Ranked 18 in the world, they have to negotiate a qualifying round which includes Bangladesh, Papua New Guinea and Scotland.
Expo 2020 DUBAI
France takes to the skies to celebrate Expo 2020 National Day
DUBAI: France celebrated its 'Expo 2020 National Day' with celebrations in the skies and across ten locations, with the main activities...
- The official ceremony took place at Al Wasl Plaza in the presence of France Minister of Europe and Foreign Affairs Jean-Yves Le Drian.
- The 'National Day' celebrations took place across ten locations.
Business
Hyperloop to become a reality in years, not decades: CEO DP World
Hyperloop, which is expected to transport passengers and freight at a speed of an airplane, could become a reality before...
- Sultan Ahmed bin Sulayem said India and Saudi Arabia might roll out the transport system first.
- DP World has invested in Virgin Hyperloop, which tested human travel in a hyperloop pod for the first time in 2020.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
FAB becomes first MENA bank to publish TCFD climate report
Abu Dhabi, UAE -- First Abu Dhabi Bank (FAB) became the first MENA bank to publish a Task Force for...
Business
Company News
Eshraq Q2 profit $9.79m
Business
Latest News
Yahsat H1 net income up 5%
Business
Production of pick-up trucks and vans in Iran rises by 52-70%
Tehran, Iran -- Production of pick-up trucks and vans in Iran in the first five months of the current Iranian...
Business
Most Read
Geostrategy
Egypt president calls for measures to slow birthrate
Cairo, Egypt -- Egyptian President Abdel Fattah al-Sisi called Tuesday for measures to slow the birthrate in the Arab world's most...
- "We need 400,000 births per year," said the leader of the country of 105 million inhabitants which recorded nearly 2.2 million births in 2022.
- Sisi intervened when his minister of health and population, Khaled Abdel Ghaffar, told a conference that "having children is a matter of complete freedom".
Infographics
Saudi construction sector employs 3 million workers
GCC countries employ close to 20 million foreign workers, who are subject to vastly different conditions and wags compared to...
- The Gulf Cooperation Council countries have a high reliance on foreign labor. In 2020, foreign workers accounted for 60 percent of the total labor force.
- GCC countries face high unemployment among nationals, shortage of skilled labor and a mismatch between the skills of nationals and the requirements of the labor market.
Business
21 agreements and MoUs signed at Saudi-Italian Investment Forum
Milan, Italy -- The Saudi-Italian Investment Forum, jointly organized by the Saudi Ministry of Investment and the Italian Ministry of...
- The 21 MoUs and agreements signed during the Forum encompassed the sectors of energy, clean energy, healthcare, real estate, waste management, technology, and manufacturing.
- In 2022, the non-oil bilateral trade value between the Kingdom and Italy reached approximately SAR 5.6 billion (1.4 billion Euros), demonstrating significant growth potential.