Dubai SME, Danube Group partner to aid Emirati-owned SMEs
Dubai, UAE – Danube Group, a leading conglomerate in the Middle East and Dubai SME, a subsidiary of the Dubai...
Business
ATM 2024 in Dubai to host 2,300 exhibitors from 165 countries
Dubai, UAE - The 31st edition of Arabian Travel Mart, 2024, taking place from May 6 to May 9, is...
Business
Business
Biodiversity credits demand may rise to $180bn annually by 2050
The transformation hinges on nearly all major companies adopting nature-related goals, with biodiversity credits playing a major role.
- Biodiversity credits are a novel financial instrument that could play a major role in contributing to a nature-positive future, explains the WEF report
-  The WEF’s Global Risks Report 2023 has ranked biodiversity loss and ecosystem collapse as one of the top five threats to humanity over the next ten years
Business
Saudi, Turkish firms ink 8 deals to boost Riyadh-Ankara business
Istanbul, Turkey - Saudi and Turkish companies, part of the Saudi-Turkish Business Council, signed eight trade agreements to strengthen trade...
- The firms discussed investment opportunities in the two countries, especially those envisaged in the Saudi Vision 2030 and Turkish economy.
- The volume of trade between Saudi Arabia and Türkiye reached SAR22 billion ($5,864,813,240) in 2022, recording a growth rate of 32.6 percent.
Geostrategy
Saudi Arabia, Turkiye strengthen collaboration in agriculture, water management
RIYADH, SAUDI ARABIA – The Kingdom's Minister of Environment, Water and Agriculture Eng. Abdurrahman bin Abdul Mohsen Al-Fadhli signed a...
- Saudi Arabia and Turkiye expressed their commitment to prepare the agricultural sector in both the countries for climate change.
- The MoU aims to strengthen cooperation and enhance production capabilities in the domains of agriculture, livestock and water management.
COP28 UAE
Masdar, EDF to develop up to 3.6GW of hydropower, renewable projects in Kyrgyzstan
Dubai, UAE – Abu Dhabi Future Energy Company (Masdar), the UAE’s clean energy powerhouse, and EDF have signed an agreement...
- The Kyrgyz Republic has set a target of reducing greenhouse gas emissions by as much as 44 percent by 2030, and achieving carbon neutrality by 2050
- Central Asia is a significant emerging market for Masdar which has several agreements to develop solar and wind projects in the region
Geostrategy
Yemeni rebels attack British ship in Bab el-Mandeb Strait: report
Dubai, UAE - Rebels from the Yemeni Ansar Allah movement (the Houthi) have staged a drone attack on a British...
- The United Kingdom Maritime Trade Operations said earlier that it had received information about increased drone activity and, presumably, an explosion in Ban el-Mandeb
- Yemen’s Houthi movement said on Sunday targeted two Israeli ships with an armed drone and a naval missile, a spokesperson for the group’s military said
COP28 UAE
Tunisia aims to reach 30% renewable energy by 2030: Delegate to COP28
Dubai, UAE - Tunisia has set a goal to reduce greenhouse gas emissions by 45 percent by 2030, and is...
- Bringing attention to the modest 4 percent share of renewable energy, the delegate highlighted the environmental challenges it poses
- Tunisia is one of the first countries to announce its intention to achieve carbon neutrality by 2050, the delegate added.
Business
Zain KSA expands 5G network
The company launched the first zero-emission 5G network.
- The network expansion supports Zain KSA’s strategic goal of accelerating the nationwide digital transformation by providing high-speed digital services
- The 5G network expansion complements Zain KSA's growing portfolio of bespoke 5G applications and pioneering solutions in artificial intelligence (AI)
Science
Saudi Space Agency, US Sierra Space partner to develop national capabilities
Riyadh, Saudi Arabia - The Saudi Space Agency (SSA) signed a memorandum of understanding (MoU) with Sierra Space, a leading...
- The memorandum was signed by SSA CEO, Dr Mohammed bin Saud Al-Tamimi, and Sierra Space CEO, Tom Vice
- The signing ceremony was attended by the Saudi Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Sawaha
COP28 UAE
Abu Dhabi Global Market announced as home to $30 billion ALTÉRRA
Abu Dhabi, UAE - The Abu Dhabi Global Market (ADGM) was announced as the home of the newly launched catalytic...
- As the principal climate finance partner of COP28, ADGM has played a pivotal role in shaping the global dialogue on climate finance
- The initiative, which saw the UAE commit a US$30 billion in catalytic capital, positions ALTÉRRA to mobilise US$250 billion globally by 2030
COP28 UAE
COP28’s Green Zone: A central hub for climate-related activities
Dubai, UAE - The Green Zone at the COP28, overseen and managed by the conference presidency team, serves as a...
- Starting on December 3, the Green Zone will host attendees throughout the COP28 week, providing access to exhibitions, artistic installations, film screenings etc
- Specialized centres within the Green Zone provide opportunities for learning, skill development, and collaboration to address climate change
Dubai SME, Danube Group partner to aid Emirati-owned SMEs
Dubai, UAE – Danube Group, a leading conglomerate in the Middle East and Dubai SME, a subsidiary of the Dubai...
Business
Company News
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China Eastern Airlines to operate three weekly fights between Shanghai and Riyadh
Riyadh, Saudi Arabia - The Saudi Air Connectivity Program (ACP) and China Eastern Airlines have entered into a strategic partnership...
Business
Iran agricultural, food exports hit US$5.5bn in 11 months
TEHRAN, IRAN – The Ministry of Industry, Mine, and Trade said that Iran exported fisheries, livestock, agricultural and food products...
Economy
GASTAT adopts chain-linking method to calculate Saudi Arabia’s real GDP
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that...
Economy
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Business
Doha Bank bond issue oversubscribed four times
Doha, Qatar - Doha Bank has successfully issued $500 million in international bonds, garnering a total order book of $2...
- The achievement follows an extensive marketing campaign by Doha Bank's management, engaging with investors globally to present the bank's objectives and performance overview
- The positive response from investors reflects confidence in Doha Bank's future prospects and the robust fundamentals of the Qatari economy
Arts & Culture
UAE elected Vice Chair of UNESCO’s committee for promotion of cultural diversity
Abu Dhabi, UAE - The UAE has been elected the Vice Chair of the UNESCO's Intergovernmental Committee (IGC) for the...
- The appointment was made during the 17th meeting of the committee, which was recently held at UNESCO’s HQ in Paris, France
- It acknowledges the UAE’s contributions to cultural diversity and its role in fostering a multicultural society both regionally and globally
Economy
Saudi Arabia to expand customs duty exemption for some industrial products from April 1
Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources has unveiled plans to broaden the range of...
- Industrial companies holding a valid license from the ministry will benefit from duty exemptions on specific items essential for their operations
- The items encompass raw materials, semi-finished materials, finished materials, packaging materials, machinery, equipment, and spare parts required for industrial production