Middle East, major buyer of Basmati rice, could be hit by India’s rice ban

• Middle Eastern countries are one of the major importers of India’s basmati rice - a variety of long, slender-grained aromatic rice
• Earlier this year, Iran, Saudi Arabia and Iran accounted for 50 percent of total shipments of India’s export of this variety

ADCB logs 23% Q2 net profit

• The bank’s interest income reached $797 million marking a 14 percent YoY increase
• The cost to income ratio improved by 450 basis points YoY to 32.0 percent

Dates exports from Saudi Arabia hit $342m in 2022, marking a 5.4% surge

• The upward trajectory continued with Saudi dates exports rising by 2.5 percent year on year in the first quarter of 2023
• In 2022, the Kingdom's dates exports surged by a remarkable 121 percent compared to 2016

G42, Cerebras unveil world’s largest supercomputer for AI training, deal worth $100m

US, Arab League discuss Middle East, Israeli-Palestinian conflict

• US-Arab League discussed reducing tensions in regional conflicts, climate change and health security.
• The US condemned the attack on the Swedish Embassy in Baghdad and urged the Iraqi government to protect foreign missions.

UAE Corporate Tax: Workshop identifies conditions for determining taxable, exempt persons

• Key topics covered during the workshop include the Small Business Relief designed to support start-ups and other small or micro businesses
• The topics also included corporate tax in free zones; determination of taxable income; transitional rules; taxable businesses and business activities of individuals

UAE construction sector logs 135% growth in project announcements

• The surge in project awards is equally impressive, rising from $9.10 billion to $13.36 billion
• The figures underscore the significant investments being made in the UAE's infrastructure development

CBUAE Governor, IMF Managing Director explore areas for cooperation

• Balama and Georgieva discussed efforts by the IMF and central banks toward enhancing the integrity of the financial system and supporting global economic growth
• The CBUAE's ambitious agenda for green financing, aligned with the UAE's strategy for sustainable economic growth and financial stability, was also a key topic of discussion

Governments should provide incentives for green finance, says Dubai Chambers’ webinar

• The webinar was organized by Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers.
• The webinar provided valuable insights and guidance aimed at helping companies to access green finance, attract green investment projects.

Saudi Arabia tops MENA region in venture capital investment during H1 2023

• The Kingdom accounted for 42 percent of the total capital deployed in the region during H1 2023, up from 31 percent in 2022.
• -commerce and retail were the highest sector in the Kingdom by the amount of funding and by number of deals in H1 2023