Europe backs Zelensky after White House showdown with Trump
German Foreign Minister Annalena Baerbock said the "unspeakable" row "underlined that a new age of infamy has begun". Friedrich Merz,...
Geostrategy
Business
Al Akaria signs $610m infra contracts
The Public Investment Fund is a related party to the contracts.
- The contracts pertain to development of the main infrastructure networks and bridges for the Qiddiya project.
- The contracts also include the design, construction, testing and commissioning of a sewage treatment plant.
Business
Investcorp portfolio firm listed
The firm, PT Multitrend Indo, was listed on the Indonesian stock exchange.
- This is Investcorp's first IPO on the Indonesian stock exchange and the 26th IPO in the Firm's 40-year history.
- Investcorp currently has five offices spread across Asia with over US$1.2 billion invested in 40 portfolio companies.
Business
Alpha Dhabi acquires stake in Metito
With this deal, Alpha Dhabi marks entry into water and wastewater domain.
- The acquisition sees Alpha Dhabi purchasing the majority stake from selling shareholders Mitsubishi Corporation, Mitsubishi Heavy Industries, and Gulf Capital.
- The Ghandour family, Metito's founding shareholders, will retain their leadership roles.
Infographics
UAE most competitive MENA economy
The 2023 IMD World Competitiveness Ranking placed the UAE among the world's 10 most competitive economies.
- Gulf Cooperation Council economies are the most competitive in the Middle East region, according to the latest IMD World Competitiveness Ranking.
- In the 2023 IMD World Competitiveness Ranking, the top three economies are Denmark, Ireland and Switzerland, while the US ranks seventh.
Business
Future100 secures 25 new partnerships to support emerging firms
Dubai, UAE -- Future100, a collaborative initiative between the Ministry of Economy and the Government Development and the Future Office,...
- The partnerships are aimed at supporting the top 100 emerging companies that play a vital role in bolstering the competitiveness of the UAE’s future economy sectors.
- The inaugural list of Future100 will be unveiled on World Futures Day, which coincides with December 2nd, the UAE's National Day.
Geostrategy
UAE foreign minister participates in high-level meetings of UNGA 78
New York, United States -- Sheikh Abdullah bin Zayed Al Nahyan, UAE's Minister of Foreign Affairs, hosted a reception at...
- A reception hosted by the minister focused on the theme of delivering on global climate progress at COP28, which will be held in the UAE in November.
- Sheikh Abdullah also met foreign ministers of Djibouti, Costa Rica, Israel, Estonia, Malta, Finland, Bulgaria, and Kyrgyzstan.
Geostrategy
Several UAE entities sign pact to implement ‘Sharjah Sat-2’
Sharjah, UAE -- A cooperation agreement was signed between the Sharjah Academy of Astronomy, Space Sciences & Technology (SAASST), the...
- Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and President of the University of Sharjah (UOS), witnessed the signing.
- The outcome of this project will help diverse parties in making decisions, developing future plans, and conducting scientific research.
Geostrategy
Iraqi PM planning to visit Moscow in coming weeks: Foreign Minister
Baghdad, Iraq -- Iraq is working to complete the necessary preparations for the visit of Prime Minister Muhammad Shiaa Al-Sudani...
- Foreign Minister Fuad Hussein met with his Russian counterpart Sergey Lavrov on the sidelines of UN General Assembly.
- "The two sides discussed prospects for joint cooperation and developing bilateral relations between the two countries," Iraqi foreign ministry said.
Business
Qatar records real estate sales contracts worth $60 million
Doha, Qatar -- The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
- Total sales contracts for residential units in the Real Estate Bulletin for the period from 10 Sept. to 14 Sept. 2023, is QR 88.73 million.
- The volume of real estate trading in sales contracts between Sept. 3 and Sept. 7 reached more than QR 308 million.
Business
Qatar Central Bank issues treasury bills worth $137 million for a week
Doha, Qatar -- Qatar Central Bank (QCB) issued treasury bills worth QR 500 million ($137 million) for a one-week term,...
- Earlier this month, QCB issued treasury bills for one week that amounted to QR 1 billion.
- Treasury bills are a short-term debt instrument issued by the government for the purpose of borrowing and providing cash liquidity in short terms.
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
Europe backs Zelensky after White House showdown with Trump
German Foreign Minister Annalena Baerbock said the "unspeakable" row "underlined that a new age of infamy has begun". Friedrich Merz,...
Geostrategy
Company News
Latest News
Beltone 9M net profit at $2.7m
Business
Over-confidence leaves UAE consumers prone to online frauds: Visa study
Dubai, United Arab Emirates – Over-confidence is leaving consumers in UAE open to becoming victims of fraud, according to Visa’s...
Business
Saudi Crown Prince launches urban plan of Qiddiya city
Riyadh, Saudi Arabia -- Crown Prince Mohammad bin Salman, Prime Minister and Chairman of the board of directors of the...
Business
North-South Corridor, Palestine key agenda of Raisi-Putin talks in Moscow
Dubai, UAE – Iranian President Ebrahim Raisi, ahead of his visit to Moscow, has emphasized the importance of the North-South...
Geostrategy
Most Read
Real estate deals in Bahrain decline marginally in third quarter: CBRE
Manama, Bahrain - Real estate transactions in Bahrain recorded a marginal 2.5 percent decline in Q3 2023, totaling 5,145 compared to the...
- Quoted apartment sales experienced a slight decrease of 1.7Â percent, while apartment rents rose by 3.2Â percent.
- Villa rents and sales, on the other hand, saw significant increases of 4.3 percent and 1.2 percent, respectively
Geostrategy
Ambitious agreements mark Saudi Crown Prince’s Qatar visit
Doha, Qatar – Following a landmark visit by Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud to Qatar,...
- The two countries expressed deep concern about the humanitarian situation in Gaza and the need for a comprehensive and just resolution to the Palestinian question.
- Economic and trade discussions focused on enhancing economic partnerships, diversifying trade, and investing in opportunities within the framework of their transformative visions.
Economy
Saudi Arabia expects budget deficits in 2023 and 2024 as spending rises
The announcement comes one year after the Gulf kingdom, the world's biggest crude exporter and the Middle East's largest economy,...
- The deficit for 2023 is expected to amount to 82 billion Saudi riyals (roughly $21.8 billion), while in 2024 it is expected to total 79 billion Saudi riyals (roughly $21 billion)
- The projections broadly align with a pre-budget statement issued in October that indicated deficits would last through 2026.