SAMA Licenses ‘Hala Financing’ to provide crowdfunding solutions
Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) has licensed "Hala Financing" to provide debt-based crowdfunding solutions. With Hala...
Business
Despite sanctions, Iran oil exports hit six-year high: report
Tehran, Iran - Iran managed to sell an average of 1.56 million barrels per day during the first quarter of...
Economy
Economy
Indonesia’s exports to UAE expected to rise by $4bn with CEPA trade pact
Jakarta, Indonesia - The Comprehensive Economic Partnership Agreement (CEPA) is expected to increase Indonesia’s exports to the UAE by around...
- UAE was Indonesia’s second-largest trading partner in the Middle East in 2022
- Indonesia recorded $61.8 million in direct investment from the UAE in Jan-September 2023
Movement against ‘Pro-Israeli’ fast-food chains gains momentum
Tehran, Iran – Egypt, Jordan, and Turkey witnessed a significant surge in a boycott targeting multinationals that have either pro-Israeli...
- Amidst rising global condemnation of Israel's actions in Gaza, the boycott movement gains significant momentum
- Countries such as Kuwait and Morocco join the movement, adding to the international pressure on Israel
Economy
Gaza war: Israel stares at $48 billion in expenses
Dubai, UAE - The ongoing conflict between Israel and Gaza could result in a significant economic toll for Israel, with...
- The projected cost, although lower than some previous estimations, remains a substantial financial burden
- The Israeli Ministry of Finance had previously indicated that the war was incurring costs of approximately $270 million per day
Business
ADX lists FAB Green Sakuk
FAB is the United Arab Emirates’ largest bank.
- FAB is the UAEs’ largest bank and one of the world’s largest banking groups, with total assets of $326.7 billion
- The $354 million sakuk, is the first ever green issuance in dirham and the largest ever dirham sukuk
Business
Naufar partners with MEEZAÂ
MEEZA is a Managed IT Service and Solutions provider in Qatar.
- Naufar aims to overhaul its IT infrastructure by leveraging MEEZA's expertise to migrate to the secure and innovative Azure cloud platform
- The move is poised to enhance operational efficiency, reinforce data security measures, and elevate patient care services through cutting-edge Microsoft Azure capabilities
Business
EDGE signs MoU with MBRSC
The pact sets up a framework for knowledge, data sharing
- The agreement exemplifies the strength of local partnerships in the UAE.
- It underlines EDGE's commitment to expand its expertise into the space sector.
Geostrategy
Gaza exposed double standards, selective application of international law: Saudi Arabia
exposed the double standards and selective application of international laws and UN resolutions by the global community. Representing Saudi Crown...
- Saudi finance minister Mohammed Al-Jadaan said that the Israeli invasion of the besieged Gaza was in flagrant violation of international laws
- He underlined Saudi Arabia’s rejection of targeting civilians and infrastructure, calling for an immediate halt to Israeli military operations in Gaza
FBI completes Rainbow Bridge car explosion, says it was traffic accident
According to witnesses, the car was running at a speed of more than 160 km/h. As a result, the car...
- The accident occurred on Wednesday when a car rammed the checkpoint on the US side of the Rainbow Bridge
- Commissioned in 1941, the 440-meter Rainbow Bridge is located near the Niagara Falls and links Canada and the United States
Business
UAE company secures African land the size of the UK for carbon offset projects: report
Dubai, UAE - Blue Carbon, a Dubai-based company has secured expansive forested land across several African nations, a CNN report...
- The area is earmarked for conservation projects aimed at safeguarding forests and preventing significant amounts of carbon dioxide from entering the atmosphere
- Forest conservation agreements involving Zimbabwe, Zambia, Kenya, Liberia, and Tanzania were announced in the months leading up to the COP28 climate summit
Economy
World Bank anticipates 4.5% growth in UAE’s non-oil economy in 2023
Riyadh, Saudi Arabia - The World Bank has projected a 3.4% growth in the real Gross Domestic Product (GDP) of...
- The WB report has projected a 3.4% growth in the real Gross Domestic Product of the UAE by the year 2023, with expectations of further increase to 3.7% in 2024
- According to the report, the Gulf Cooperation Council (GCC) region is estimated to grow by 1% in 2023 before picking up again to 3.6 and 3.7% in 2024 and 2025
SAMA Licenses ‘Hala Financing’ to provide crowdfunding solutions
Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) has licensed "Hala Financing" to provide debt-based crowdfunding solutions. With Hala...
Business
Company News
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Fraud and volatility fears persist as bitcoin barrels on
Specialized companies such as Grayscale and Wall Street giants such as asset manager BlackRock are among those investing in the...
Business
1200 year old ebony wood poles discovered at Jeddah’s Othman bin Affan Mosque site
Jeddah, Saudi Arabia - The Jeddah Historic District Program has announced the discovery of the two ebony wood poles at ...
Arts & Culture
Alicia Keys to perform at Saudi Arabian Grand Prix 2024 on March 9
Jeddah, Saudi Arabia - Jeddah is poised to host Alicia Keys, the legendary musician, singer, and multiple Grammy-award winner, at...
Arts & Culture
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Science
UAE astronauts AlMatrooshi and AlMulla graduate in space program at NASA
Dubai, UAE - The Mohammed Bin Rashid Space Centre (MBRSC) on Tuesday announced the graduation of Emirati astronauts Nora AlMatrooshi...
- The milestone marks the culmination of over two years of extensive training, which began in January 2022
- Prior to joining the NASA training program, AlMatrooshi and AlMulla underwent extensive in-house training at MBRSC
Geostrategy
BRICS to create blockchain-based payment system: Kremlin aide
Moscow, Russia – BRICS will work to create an independent payment system based on digital currencies and blockchain, Kremlin aide...
- Ushakov said that the specific task for this year is to increase the role of BRICS in the international monetary and financial system
- The BRICS group of emerging economies has welcomed 2024 by officially adding five developing nations
Geostrategy
Time to recognize the State of Palestine: Saudi foreign minister at OIC session
Jeddah, Saudi Arabia — Saudi Minister of Foreign Affairs Prince Faisal bin Farhan has emphasized the unanimous rejection of the...
- Prince Faisal was speaking at the Extraordinary Session of the Council of Foreign Ministers of the Organization of Islamic Cooperation in Jeddah on Tuesday
- The session has been convened to address the ongoing Israeli aggression against the Palestinians and to voice the OIC's opposition to the displacement of Palestine