Abha Valley has potential to be a tourist destination
ABHA, SAUDI ARABIA - Extending over 34 kilometers, the Abha Valley Basin enjoys a variety of wildlife aspects, civilizational features...
Business
Villa, Maldini visit Jeddah to promote FIFA Club World Cup 2023
Jeddah, Saudi Arabia -- Football stars David Villa and Paolo Maldini visited Jeddah today to promote the 2023 FIFA Club...
Arts & Culture
New York state senate declares 2 Dec 2021 as ‘Emirati Day’
Dubai-born Senator Kevin Thomas introduced a resolution calling for commemorating the day in New York state *UAE Consul-General in NY...
Morgan Stanley alum to raise $600 m for clean energy funds
Founded by Ahmad Atwan, VC Fuel intends to raise $100m for debut venture fund and seek $500m for an infrastructure...
Robots hand out bottles of sacred water in Mecca ahead of the Hajj
The move is designed to minimize human contact to contain Covid-19 spread Each of the 20 robots deployed loaded with...
Emirates ramps up operations over summer to serve strong travel demand
Airline will operate flights to 124 destinations in July, close to 90% of pre-pandemic network Expands A380 network to 15...
Bananas with GI tag from India shipped to Dubai
20,000 metric tons of Jalgaon Banana, grown in the Maharashtra state of India, exported to Dubai Fibre-rich fruit is grown...
RELEX to service Majid Al Futtaim Carrefour stores
RELEX servicing will be initially rolled out to stores in the UAE and then extended to other areas The partnership...
AFD approves €83M loan to Egypt for electricity sector
Loan meant to fund Egypt's second phase of Electricity and Green Growth Support Program The program will advance the provision...
ACWA to build Central Asia’s largest single-site wind farm in Uzbekistan
The 1500MW plant expected to cater to power needs of about 4 million households *ACWA Power also has a 1500MW...
Investor sells his 2.4 stake in Abu Dhabi Commercial Bank for $300 million
The offering consisted of 164 million shares in the bank The Abu Dhabi Investment Council is the largest shareholder in...
UAE Central Bank ups overnight rates, hours after US Fed raised interest
Central banks in the GCC mimic the US Fed's moves due to the peg of their currencies to the US...
Abha Valley has potential to be a tourist destination
ABHA, SAUDI ARABIA - Extending over 34 kilometers, the Abha Valley Basin enjoys a variety of wildlife aspects, civilizational features...
Business
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Bank Albilad H1 profit up 14%
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Strong growth key to GCC’s FDI appeal
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Qatar’s trade balance surplus increases by 12.8 percent in July
Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...
Business
GCC optimistic about FDI growth despite hiccups
Despite a decline in FDI inflows in the past few years, GCC countries remain optimistic as they expect strong economic...
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Renewables helped save $520bn fuel costs globally in 2022: Report
In non-OECD countries, just the saving over the lifetime of new capacity additions in 2022 will reduce costs by up...
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Business
AviLease acquires aircraft leasing platform
The $3.6bn deal will see AviLease acquire a portfolio of 100 aircraft.
- The combined platform will own and manage 167 of the latest technology, fuel efficient aircraft, consisting of 145 owned valued at around $6 billion.
- AviLease arranged $2.1 billion of competitive bridge financing commitments from four banks: BNP Paribas, Citibank N.A., HSBC Bank Middle East and MUFG Bank.
Geostrategy
Saudi Arabia and Iran invited to Moscow-led defense bloc’s military drills
Moscow, Russia -- Collective Security Treaty Organization (CSTO) member states have invited observers from Saudi Arabia, Iran, China and Mongolia...
- China and Mongolia are the other two countries invited to monitor the Combat Brotherhood-2023 drills in Belarus, CSTO Joint Staff Chief Colonel General Anatoly Sidorov said.
- Combat Brotherhood, a joint operational and strategic exercise, will be held in Belarus on September 1-6.
Business
SAMI launches radio systems line
PIF-owned SAMI will be partnering with the Ministry of Defense.
- SAMI CEO Waleed Abdulmajeed Abu Khalid underlined the partnership in strengthening relationships with L3Harris, the world's leading defense company.
- In June, SAMI signed an agreement with Safran Helicopter Engines for engine maintenance and repair.