ATO partners with ISM to boost tourism in the Middle East
Jeddah, UAE--The Arab Tourism Organization (ATO) has signed a partnership agreement with the International Strategic Management (ISM) company to achieve...
Business
Qatar’s ties with Iran closer than ever: Sheikh Tamim bin Hamad
Doha, Qatar-- Qatar's Emir Sheikh Tamim bin Hamad Al Thani has affirmed that the ties between Qatar and Iran have...
Geostrategy
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
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
ATO partners with ISM to boost tourism in the Middle East
Jeddah, UAE--The Arab Tourism Organization (ATO) has signed a partnership agreement with the International Strategic Management (ISM) company to achieve...
Business
Company News
Latest News
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
Most Read
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