China’s Guangdong province now boasts of 75,000 high-tech companies
Shenzen, China--The total number of high-tech enterprises in south China's Guangdong Province has exceeded 75,000, local authorities have said. By...
Economy
Economy
UAE and Algeria seek to expand economic cooperation
Abu Dhabi, UAE--The 15th session of the joint UAE-Algeria Economic Committee has been held in Abu Dhabi under the chairmanship...
- Non-oil trade between the two countries has grown from $701 million in 2020 to around $800 million by the end of 2022
- The UAE is one of Algeria's major Arab trading partners in 2021, accounting for nearly 20% of Algeria's trade volume with Arab countries
Geostrategy
FNC Speaker calls for greater coordination at Arab Inter-Parliamentary Union meet
BAGHDAD, IRAQ - Speaker of the UAE Federal National Council (FNC) Saqr Ghobash said that Arab parliaments should are required...
- Arab parliaments should unify positions on all common issues, activate the role of parliamentary diplomacy.
- Many Arab countries are still facing and suffering from terrorism and extremism that know no borders.
Geostrategy
UNDP requests $113.5 million to support early recovery in Turkey
ANKARA, TURKEY - Clearing the mountains of rubble due to buildings collapse in the earthquakes that hit Turkey on February...
- Rubble removal accounts for a large share of UNDP's US$113.5 million request for funding.
- UNDP's current focus is to help prevent public health threats to affected populations and emergency responders.
Economy
China’s international trade in services stands at US$67.6bn in January
Beijing, China--China's international trade in services stood at 459.5 billion yuan, or US$ 67.6 billion, in January, official data showed...
- Services exports totalled $25.44 billion last month, and services imports were at $40.50 billion, resulting in a trade deficit of $15.50 billion
- Transport was the biggest services trade contributor, with a $21 billion trade volume, the data showed
Business
EDCC and Canadian Business Council sign MoU to boost defense ties
Abu Dhabi, UAE--The Emirates Defence Companies Council (EDCC) and the Canadian Business Council (CBC) in Abu Dhabi signed a Memorandum...
- The MoU was signed today at Tawazun Council Chalet in IDEX and NAVDEX 2023, currently held in Abu Dhabi
- The agreement is expected to foster collaboration and identify new opportunities in the defence industry
Economy
UAE vows to counter money laundering and financing of terrorism
Welcoming the FATF statement recognizing the progress made in the Gulf country, the UAE has reaffirmed its commitment to advancing...
- The UAE said it continues to implement an array of sophisticated and significant actions to combat financial crime and strengthen the effectiveness of the AML/CFT framework
- The country reaffirmed that it will continue working concertedly to bolster its position as one of the most trusted and resilient economies worldwide
Business
Dubai Chamber of Commerce organizes UAE Corporate Tax Workshop
DUBAI, UAE - Dubai Chamber of Commerce organized a Corporate Tax Workshop to help participants navigate the new regime, with...
- The workshop, attended by 152 participants, included an overview and key highlights of the new corporate tax law.
- Corporate tax is a significant step in the UAE’s drive to modernize its tax system and accelerate economic diversification.
Science
Abu Dhabi DoH names winners of Healthcare Research and Innovation Grant
ABU DHABI, UAE - The Department of Health – Abu Dhabi (DoH), which regulates the healthcare sector in the emirate,...
- The grant, launched in September 2022, received over 70 complete submissions, and the top eight were awarded a monetary prize.
- The winners will have the opportunity to conduct clinical trials and commercialize their ideas.
Business
Egypt looks to raise US$1.5bn with sukuk at 11% yield
Cairo, Egypt--Egypt has set an initial yield of 11.625 percent for the sale of its three-year, dollar-denominated sukuk on Tuesday...
- The sukuk will be of benchmark size or in the range of $500 million
- Egypt’s finance minister Mohamed Maait said in December that the country was targeting between $1.5 billion and $2.5 billion from its first sovereign sukuk
Business
Dukhan Bank lists on QSE
The total number of companies now listed on QSE stands at 50.
- The total number of companies now listed in the main market went up to 50 Qatari public companies
- The bank's shares were listed in the banking sector category through the direct listing mechanism, a common mechanism in all regional markets
Company News
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Samsung profits plunge
Business
Elon Musk’s X supports US student in trouble over posts
Dubai, UAE--Elon Musk’s X has made good on its promise to back users who are being punished for statements they...
Geostrategy
UAE unveils ‘roadmap’ to reduce food waste by 50 percent
Dubai, UAE--In order to reduce food loss and waste by 50 percent, the UAE has launched Ne’ma Food Loss and...
Economy
UAE holds 19% of global sustainable bonds, says Fitch Ratings
DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues...
Business
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Economy
EDB pledges to expand UAE’s renewables market through easy financing
Dubai, UAE-- With its financing packages for the renewables sector to support the transition to clean and sustainable energy sources,...
- EDB CEO Ahmed Mohamed Al Naqbi said the bank through its financing can help businesses switch to solar-power to reduce emissions
- The bank can offer up to 100% financing with a maximum tenure of 15 years and a two-year grace period for investments in renewable energy
Geostrategy
War in Gaza represents serious setback for efforts to reduce tension: Gargash
Manama, Bahrain-- The ongoing war in Gaza represents a serious setback for the efforts to reduce tension in the region...
- The diplomatic adviser to the UAE president expressed concern that the violence in the Gaza Strip will only fuel further extremism and instability in the region
- He said a two-state solution is the only "viable path" to peace for both the Palestinian and Israeli peoples, and it demands strong and sustained international participation
Economy
UAE receives first batch of patients from Gaza to undergo medical treatment
Dubai, UAE-- At least 15 patients from Gaza arrived in the UAE to receive medical treatment in the UAE's hospitals....
- The initiative is part of the UAE government's resolve to provide medical treatment for 1,000 children from the Gaza Strip who are in urgent need of medical care
- The UAE has sent dozens of planes with 1,400 tonnes of food, medical, and relief supplies, to support endeavors aiming at providing relief in the Gaza Strip