$272 billion sustainable finance pledge by UAE financial sector at COP28
Abu Dhabi, UAE -- The financial sector of the United Arab Emirates commits to mobilizing more than AED 1 trillion...
COP28 UAE
World Bank offers to host Lost and Damage Fund: Official
Dubai, UAE -- "World Bank has offered to host the Lost and Damage Fund, so we'll work very closely with...
Geostrategy
Economy
Value and volume of Qatari real estate deals rise in November
The total number and value of sold real estate in Qatar have increased at a monthly rate of 2.8 percent...
- The issued cash increased by 3 percent, compared to October 2021, and at an annual rate of 20.7 percent, compared to November 2020.
- Total Broad Money Supply (M2) recorded about QR619.3 Billion during November 2021, an annual increase of 6.2 percent compared with November 2020.
Business
GCC’s first tire storage and distribution hub coming up in Abu Dhabi
AD Ports Group has signed an agreement with China-based Shandong Port Group, to establish a Tyre Hub at KIZAD for...
- China's Shandong Port Group and AD Ports Group sign an agreement to set up a hub at KIZAD for the storage and distribution of tires.
- AD Ports Group will provide space for an upcoming 150,000 sqm facility in KIZAD under its Industrial Cities and Free Zone Cluster.
Economy
Iraq saw rise of positive economic indicators in 2021: Planning Ministry
Iraq's Ministry of Planning has said several positive economic indicators have risen during 2021 and several measures are being taken...
- People regaining their jobs after easing of Covid restrictions helped boost projects in the private sector.
- Although the Planning Ministry is yet to prepare a report on economic indicators for 2021, there is an improvement in many fields, says a spokesman.
Arts & Culture
UAE issues first civil marriage license for non-Muslim couple
The UAE issued its first civil marriage license for a non-Muslim couple, state media reported Monday, as the Gulf country...
- A Canadian couple was the first to marry under a new law on the personal status of non-Muslims in the Emirati capital Abu Dhabi.
- Late last year, the UAE revamped an array of laws in a social liberalization drive designed to burnish its progressive brand.
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.
$272 billion sustainable finance pledge by UAE financial sector at COP28
Abu Dhabi, UAE -- The financial sector of the United Arab Emirates commits to mobilizing more than AED 1 trillion...
COP28 UAE
Company News
Riyadh to host Peace and Sport Middle East Forum in Oct
Arts & Culture
DEWA Q2 revenue $2bn
Business
Latest News
ADNIC net profit $55.64m
Business
ADES prices IPO $3.33-$3.60 per share
The book-building process starts Sunday and run through Sept. 14.
Business
Gaza exports to Israel resume as crossing reopens: Palestinian official
The Kerem Shalom crossing, the only point of entry for goods between Gaza and Israel, was closed last week after...
Geostrategy
UAE President, Indian Prime Minister discuss strengthening bilateral, trade ties
NEW DELHI, INDIA - UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi met to...
Geostrategy
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Business
Russia’s Sberbank launches new tourism-oriented services in Iran
Tehran, Iran -- Russia’s largest lender, SBERBANK, is presenting a new service that allows its clients to transfer money to...
- According to Sber, ruble transfers will be sent to the Iranian Pasargad Bank with the standard commission for international transactions of 1 percent. Â
- Last December, Russia’s second-largest bank VTB launched a similar service in Iran and later in May it opened a branch in the country.
Economy
Global rice prices hit 15-year high after India curbs: FAO
Rice is a major world food staple and prices on international markets have soared in the wake of the Covid...
- The consumer affairs and food ministry said at the time that the move would "ensure adequate availability" and "allay the rise in prices in the domestic market".
- The ban was expected to hit African nations, Turkey, Syria and Pakistan, all of which were already struggling with high inflation, data analytics firm Gro Intelligence said.
Business
Tabreed signs MoU with Indian state
Asia's largest district cooling PPP project in Hyderabad part of deal.
- The cooling infrastructure will potentially reduce over 200MW of peak electricity demand.
- The district cooling agreements are part of Telangana’s vision to become net zero by 2047.