India PM inaugurates grand temple in Abu Dhabi
According to the UAE authorities, the grand temple carved from pink stone spreads over an area of 55,000 square metres...
Geostrategy
Archaeological sites discovered in Southern Saudi Arabia
ABHA, SAUDI ARABIA Â - The Heritage Commission announced its most prominent discovery in Jurash, Asir region, as one of the...
Arts & Culture
Economy
Iraq PM affirms support for agriculture, industry, tourism and trade
Baghdad, Iraq--The Iraqi Prime Minister Mohammed S. Al Sudani has stressed the need for economic reform and supporting the sectors...
- The PM said during his visit today to the Ministry of Industry and Minerals, that economic reform is a prelude to social reform
- He directed the auditing of industrial development permits and sponsoring small and medium enterprises, due to their role in forming major projects
Economy
FMT upholds DFSA decision to slap Arif Naqvi with US$135.56m fine
Almost a year after the Dubai Financial Services Authority (DFSA) imposed a heavy penalty on Arif Naqvi, the founder of...
- DFSA had held Naqvi responsible for a series of actions during his time as chief of Abraaj, including using investor funds as working capital requirements
- The FMT came into play after Naqvi referred the DFSA verdict to the tribunal
Business
Agthia appoints new CFO
Sherif Elfaham stepped into the new role on January 1, 2023.
- At Unilever, Sherif held various key senior roles in financial planning and analysis, supply chain optimisation, marketing transformation, and business unit regeneration
- He holds a master’s degree in financial strategy from Oxford University and is a Certified Management Accountant (CMA)
Economy
UAE and Azerbaijan pledge to enhance ties ‘across all fields’
Abu Dhabi, UAE-- The UAE and Azerbaijan have reviewed bilateral relations between the two countries and pledged to deepen ties...
- The two top diplomats reviewed prospects for cooperation between the two countries in a number of sectors
- Bayramov stressed the depth of the UAE-Azerbaijan relations and his country's aspiration to enhance and develop joint cooperation with the UAE at all levels
Economy
Qatar Financial Centre manages assets worth US$28.3bn: CEO
Doha, Qatar-- Qatar Financial Centre (QFC) is managing assets worth $28.3 billion and has more than 1,500 local and global...
- Al Jaida said that QFC has accelerated the growth of its works in alignment with the evolution of the Qatari economy which became diverse and dynamic
- He noted Qatar's efforts are currently focused on building a sustainable, modern and responsive economic system that contributes to enhancing economic diversification
Geostrategy
Arab world welcomes UN vote on Israeli occupation
From Arab League to Organization of Islamic Cooperation (OIC), most of the Arab world has expressed support for UN's vote...
- The secretariat general of the Organization of Islamic Cooperation welcomed the resolutions issued by the UN general assembly
- The Hague-based ICJ, also known as the World Court, is the top UN court dealing with disputes between states
Economy
Egypt pushes for bigger private sector role in economy
Cairo, Egypt--Egypt’s President Abdel Fattah El-Sisi on Thursday approved a document outlining 62 economic activities the state will withdraw from...
- The document’s approval was required by the International Monetary Fund, which this month approved a 46-month, $3 billion financial support package for Egypt
- The policy aims to give the private sector a greater role in helping to grow the economy, create jobs and increase investment and exports
Economy
UAE tops Arab world in exports worth US$142.5bn in 2021
Abu Dhabi--The UAE ranked first in the Arab world in terms of the value of manufactured exports in 2021, with...
- The UAE's manufacturing industry exports account for 43.9 percent of overall Arab exports of manufacture, owing to strong growth in the field of re-exports
- In Arab countries manufacturing industry exports totaled $325 billion in 2021, up from $244 billion in 2020, a 33.2 percent increase
Economy
Saudi investments in Egypt grow to US$6.12 billion
Riyadh, Saudi Arabia--Saudi Arabia has invested some $6.12 billion in more than 6,000 projects in Egypt, according to the Minister...
- The trade minister announced the investment figure during his visit to Riyadh on Dec. 25, where he met Saudi ministers and senior officials to boost bilateral ties
- The kingdom is the top exporter among Arab nations with exports worth $6.4 billion, followed by Kuwait, the UAE and Oman
Business
Response Plus declares dividend
It will pay an interim dividend of $12.79m to shareholders.
- The shareholders registered in the company’s book on the 5th of January 2023 will receive 0.25 fils per share
- The Board of Director's decision comes as a result of the recent amendments made to the Articles of Association of Response Plus
India PM inaugurates grand temple in Abu Dhabi
According to the UAE authorities, the grand temple carved from pink stone spreads over an area of 55,000 square metres...
Geostrategy
Company News
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Public defies world leaders, rallies to back Palestinians
Global outcry mounts as thousands protest in the US, UK, France, and Germany, defying their governments' support for Israeli aggression...
Geostrategy
PureHealth partners with Dell to use AI in disease detection, data analysis
Abu Dhabi, UAE--PureHealth has joined hands with Dell Technologies to utilise generative artificial intelligence (AI) across healthcare services including in...
Business
Israel Foreign Ministry denies relations with Bahrain cut off
Dubai, UAE-- A day after Bahrain's parliament announced that its ambassador to Israel is being recalled, the Jewish state said...
Geostrategy
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Business
DEWA discusses cooperation in renewable energy with German delegation
Dubai, UAE-- Dubai Electricity and Water Authority (DEWA) has held discussions with a delegation from Germany on how to boost...
- DEWA's CEO emphasized the importance of strengthening strategic cooperation with German enterprises in water, renewable, and clean energy
- The delegation applauded the UAE's leading role in dealing with climate change and promoting a sustainable, safe, and healthy environment
Business
Iran ramps up oil production to 3.4m bpd, up from 2.9m bpd
Tehran, Iran-- Iran has ramped up its oil production to 3.4 million barrels per day (bpd), up from about 2.9...
- Iran's oil minister said the boost in the production is in line with measures taken by the current government of the Islamic republic
- According to officials in the oil sector, about 40,000 bpd have been added to the country’s oil production from the Sepehr and Jafir oilfields
Economy
Gulf central banks mimic US Fed, maintain interest rates
The UAE's central bank has kept its Base Rate for the Overnight Deposit Facility (ODF) unchanged at 5.40 percent. It...
- Federal Reserve's decision to hold interest rates comes amid concerns of persistent inflation
- The CBUAE and QCB's decision underscores the link between global and regional monetary policies