Saudi Arabia reforms investment law, simplifies process and investor protection to achieve $100 bn FDI target
The law will ensure equal treatment between domestic and foreign investors, protecting intellectual property and promoting fair competition in line...
Economy
GCC countries host nine million Indians, UAE alone home to 3.55 million
New Delhi, UAE - The number of Indians living in the Gulf Cooperation Council (GCC) countries has crossed nine million,...
Economy
Geostrategy
Tunisia president’s former top aide jailed in absentia, say media reports
TUNIS, TUNISIA - Tunisian President Kais Saied's former chief of staff was sentenced in absentia on Tuesday to prison over audio...
- Nadia Akacha had been a key aide to Saied until she quit in January last year, citing "fundamental differences of opinion" over the national interest.
- A constitutional lawyer like the president, she was appointed as Saied's legal adviser in late 2019 before becoming his chief of staff in January 2020.
Economy
Abu Dhabi Department of Energy, Statistics Center sign data collaboration pact
ABU DHABI, UAE - Statistics Center – Abu Dhabi (SCAD) and the Abu Dhabi Department of Energy (DoE) have signed...
- The pact was inked on the sidelines of the 15th edition of the Abu Dhabi Sustainability Week 2023.
- This is a part of a strategy to develop an advanced statistical ecosystem which provides high-quality statistics through a decentralized model.
Economy
UAE Ministry of Finance, Dubai Free Zones Council sign MoU on sharing of information
DUBAI, UAE - UAE Ministry of Finance (MoF) Tuesday signed a Memorandum of Understanding (MoU) with the Dubai Free Zones...
- The Ministry of Finance makes efforts to ensure that government entities in the UAE are committed to international tax pacts the country has signed.
- Dubai Free Zones Council will provide the necessary tax information to the ministry of finance.
Geostrategy
Iran releases celebrity chef held in crackdown, say activists
PARIS, FRANCE - Iran has released a prominent chef and Instagram influencer who was detained earlier this month in its crackdown...
- Navab Ebrahimi, known for his videos promoting Persian cooking, was arrested in Tehran on January 4 and taken to the city's Evin prison.
- Iran has arrested at least 14,000 people in protests sparked by the September 16 death in custody of Mahsa Amini, a 22-year-old Iranian Kurdish woman.
Business
QIB profits grow by 12.7% in 2022
The return on the share amounted to QR 1.62.
- The return on the basic share amounted to QR 1.62 for the past fiscal year, compared to QR 1.42 in 2021
- The total assets for 2022 amounted to QR 184 billion, while financing assets accounted for QR 119.3 billion
Economy
Qatar’s private sector exports surge 25% to $10bn in 2022
The total value of private sector exports during the fourth quarter of 2022 amounted to $2 billion.
- The total value of private sector exports during the fourth quarter of 2022 amounted to $2 billion
- The number of countries receiving Qatari exports in Q4-2022 reached 95 in the year
Economy
DFSA releases 2023-24 plan to support Dubai’s growth as financial hub
DUBAI, UAE - The Chairman of the Dubai Financial Services Authority (DFSA), Fadel Al Ali Monday announced the publication of...
- The two-year plan outlines an ambitious roadmap to meet the DFSA’s statutory objectives for the Dubai International Financial Center.
- The DFSA will be pursuing several key projects that cut across multiple strategic themes.
Economy
RAKTDA simplifies procedure for getting permits for Rak Holiday Homes system
RAS AL KHAIMAH, UAE- Ras Al Khaimah Tourism Development Authority (RAKTDA) has announced updates to its holiday homes system. RAKTDA...
- The updates are part of the Emirate’s efforts to continue diversifying and strengthening its existing accommodation portfolio of four- and five-star hotels and resorts.
- These measures will help in driving a sustained tourism economy that benefits not only investors but also its communities.
Economy
Oil prices fall, but hovers near 2023 highs
Brent fell 36 cents, or 0.4 percent, to $84.92 a barrel, while US West Texas Intermediate crude fell 21 cents,...
- Brent fell 36 cents, or 0.4 percent, to $84.92 a barrel, while US West Texas Intermediate crude fell 21 cents, or 0.3 percent
- Last week, oil prices booked their largest weekly increase since October 2022, bouncing back from a significant crash at the start of the year
Business
Infracorp, Equitix partner join hands
Collaboration to boost Infracorp’s Infrastructure footprint.
- Aurora serves a blue chip international industrial client base which has invested more than €4.5 billion combined in the Company’s two sites (AKO and ATO) since 2005
- Equitix has over $11.7 billion of assets under management and is the infrastructure investment division of Tetragon, the global asset management group
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Saudi Arabia reforms investment law, simplifies process and investor protection to achieve $100 bn FDI target
The law will ensure equal treatment between domestic and foreign investors, protecting intellectual property and promoting fair competition in line...
Economy
Company News
Latest News
PIF sets up agri and ecotourism firm Dan Company
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced on Monday the establishment of Dan Company, specializing in agritourism...
Business
EasyLease buys 60% stake in Fully Charged
Fully Charged has expertise in EV charging technology.
Business
Oil prices up on Saudi, Russia push for output reduction
Riyadh, Saudi Arabia - Collaboration between Saudi Arabia and Russia to drive OPEC+ members toward output cuts has resulted in...
Economy
Most Read
Geostrategy
Iran foreign minister, Hamas chief discuss Gaza developments
Tehran, Iran - Iranian Foreign Minister Hossein Amir-Abdollahian held a phone conversation with Hamas chief Ismail Haniyeh on Friday night...
- During the call, Amir-Abdollahian praised the invocation of Article 99 of the UN Charter by the United Nations Secretary-General Antonio Guterres
- Iranian top diplomat told the Hamas chief that the crisis in Gaza had been a central feature of discussions between Iranian President and his Russian counterpart Putin
Business
Nasdaq faces $4m penalty for alleged Iran sanctions violations
New York, United States - Nasdaq Inc., headquartered in New York, has agreed to pay a $4 million settlement to...
- The violations stemmed from services provided by Nasdaq OMX Armenia to Iran and Iran's state-owned Bank Mellat
- Office of Foreign Assets Control noted that the settlement amount reflects their assessment that Nasdaq's actions were non-egregious
Economy
Iran, Oman call for using national currencies in mutual trade
Tehran, Iran – Iran and Oman have signed two memoranda of understanding to boost bilateral cooperation and using their national...
- The Iranian industry minister also announced his country’s readiness to jointly implement key industrial projects with Oman
- Head of the Central Bank of Iran Mohammad-Reza Farzin hailed any measure that helps boost monetary cooperation between the two countries