South Korea presses for enhanced ties with UAE in high tech and AI
Dubai, UAE--South Korea has pressed for boosting cooperation with the UAE in the field of advanced technology and artificial intelligence...
Economy
Business
Saudi EXIM signs deal with MITSUI
The deal allows for joint cooperation between the two.
- The agreement will allow the two parties to benefit from their potential, and to provide credit solutions that support the export activities of Saudi non-oil goods and services
- General Manager of MITSUI & CO., MIDDLE EAST LTD, praised this cooperation, which opens new windows for cooperation with the Saudi EXIM Bank
Business
Dubai Chamber unveils fintech, payments business group
Dubai, UAE-- Dubai Chamber of Commerce has unveiled a new financial technology (fintech) and payments business group to join the...
- The launch of the new business group is part of the chamber’s plans to increase the number of business groups that represent economic sectors and activities in Dubai
- The fintech and payments business group will focus on ways to adopt the highest standards in providing businesses financial services and payment solutions
Economy
Algeria passes biggest-ever US$98.5 billion annual budget
Algiers, Algeria-- Algeria approved the 2023 budget, the largest in the country's history after President Abdelmadjid Tebboune approved the Finance...
- The government set a reference oil price estimated at US$60 per barrel, up by US$15 per barrel over the 2022 budget
- The figures in the annual budget showed an increase in defense spending, which topped the rest of the sectors with US$22.7 billion, to be the largest in Algeria's history.
Economy
Saudi Arabia and Japan bolster energy ties, sign new deals
Seeking to deepen energy ties, Saudi Arabia and Japan have signed two sets of cooperation agreements in the fields of...
- The deal was signed at the first ministerial meeting of the Saudi-Japanese Ministerial Dialogue for Energy in Riyadh
- Nishimura will be in Saudi Arabia, Japan’s largest importer of crude oil, until Monday and will then go to Oman, a supplier of LNG, on Tuesday
Business
Bloomberg denies plan to buy Dow Jones
It refuted reported plan to acquire Wall Street Journal or the Washington Post.
- News website Axios reported on Friday that Bloomberg was interested in acquiring either Wall Street Journal parent company Dow Jones, or the Washington Post
- A spokesperson for the Washington Post, which Bezos bought in 2013 for $250 million, said on Friday it was not for sale
Economy
Qatar Chamber seeks to boost economic ties with Serbia
Doha, Qatar-- Qatar Chamber has discussed ways to enhance trade and economic cooperation with Serbia during the meeting of First...
- Bin Twar noted the importance of forming the Qatari-Serbian joint business council, for which a memorandum of understanding was signed to establish it 3 years ago
- Marco Cadez called on Qatari business owners to visit Serbia and learn about the investment climate and available investment opportunities
Economy
Saudi and Turkish banks sign US$26m financing line agreement
Riyadh, Saudi Arabia--Saudi Export-Import Bank has announced the signing of a $26 million financing line agreement with Turkyie Finance Katilim...
- It also signed an agreement with Turkish Export Bank that allows cooperation in several fields, including the exchange of experiences and the promotion of exports
- The two agreements come within the framework of Saudi partnerships with Turkish financial institutions, and within the bank’s direction to develop its local and foreign partnership
Geostrategy
UAE and Morocco to shore up cooperation to combat terrorism
Rabat, Morocco-- The UAE and Morocco are looking at ways to bolster cooperation and exchange experiences in order to combat...
- The meeting looked to bolster cooperation and exchange experiences in the field of implementing targeted financial sanctions
- They also discussed mechanisms and procedures to ensure optimal implementation of the obligations of persons subject to these measures from the financial sector
Economy
World Bank predicts decline in Egypt’s economic growth
Riyadh, Saudi Arabia-- Egypt’s economic growth is expected to decline to 4.5 percent in the fiscal year 2022-23 from 6.6...
- According to the report, the growth is forecast to inch up after that as the country continues to push ahead with macroeconomic stabilization and structural reforms
- During the fiscal year 2022-23, inflation is projected to surpass the Central Bank of Egypt’s target range between 5 and 9 percent and remain in double digits
Economy
UAE orders arrest of company director for fake emiratisation quota
Abu Dhabi, UAE-- The UAE Public Prosecution has ordered the arrest of a private company director who was proven to...
- The suspect allegedly forged e-documents, faked employment contracts, and falsely stated that his company had hired Emirati citizens
- The UAE Attorney-General, received a report about the incident from the Ministry of Human Resources and Emiratisation and ordered the launch of an urgent investigation
Company News
Latest News
ADIB publishes ‘sustainable finance framework’ establishing criteria for borrowing
Abu Dhabi, UAE--Abu Dhabi Islamic Bank (ADIB) has published "Sustainable Finance Framework" establishing criteria and eligibility requirements that determine which...
Economy
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...
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...
Business
Most Read
Geostrategy
UAE and Jordan sign MoU to boost investment cooperation
Abu Dhabi, UAE--The UAE and Jordan have signed a memorandum of understanding (MoU) to create a framework for investment cooperation...
- ADQ has entered into a strategic partnership agreement to create a joint investment fund with Jordan Investment Fund
- The agreement will enable the UAE and Jordan to explore opportunities to boost bilateral investments and enhance both nations’ GDP
Geostrategy
Bahrain and UK discuss boosting trade, investment ties
London, UK-- Bahrain and the UK have discussed way to boost bilateral cooperation in trade, investment and economic fields between...
- The foreign minister of Bahrain is on a visit to London to attend the first strategic dialogue between the two countries
- The two ministers then co-chaired the meeting of the Bahrain-UK joint committee, attended by representatives of the two countries
Business
Al Hilal ranks among world’s 50 wealthiest clubs
European clubs owned by Arabs continue to dominate the rankings, with Sheikh Mansour bin Zayed-owned Manchester City standing at the...
- Paris Saint-Germain, owned by Qatar Sports Investments, came in third with a market value of US$1.14 billion
- Newcastle United, owned by Public Investment Fund, is at 11th spot with a market value of $687.57 million