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
Al Mal Capital REIT to launch rights issue
The fund has an existing portfolio valued at US$158m.
Business
Business
Egypt looks to rake in $3.5bn in revenues from Suez Canal in H1
Egypt is expecting to rake in $3.5 billion in revenues from the Suez Canal during the first half of 2022,...
- Revenues from the canal have increased by around 23 percent in May 2022, compared to the year earlier, to reach $657 million
- Rabie attributed the high revenues to the growth of the global economy, the continued recovery of global trade, pricing policy and the Canal’s fee rise
Science
Saudi Cabinet endorses setting up of Health Holding Co.
Saudi Arabia's cabinet has endorsed the setting up of Health Holding Co. and charter of the National Health Insurance Center.
- The move is expected to boost community health, prevention and detection of diseases, and raising the level of quality and efficiency of services
- The decision will raise the effectiveness of the health system, Saudi Press Agency quoted the Kingdom’s health minister as saying
Geostrategy
Sanctions bore in on Russia over Ukraine invasion
On Friday, US President Joe Biden extended his country's measures against Russia to include sanctions on President Vladimir Putin and...
- The first tranche will hit four Russian banks, cut off more than half of Russia's technology imports, and target several oligarchs
- Energy giant Gazprom and 12 other major companies will be barred from raising capital in Western financial markets
Business
Al-Dawaa of Saudi Arabia to launch IPO at $17.3 per share
Al-Dawaa, a pharmaceutical retail firm in Saudi Arabia, has set the price range for its initial public offering at SR65...
- The company earlier announced it was offering 25.5 million shares in an IPO, or 30 percent of its capital of SR850 million through a sale by existing shareholders
- Institutional subscription has also started on Sunday, where they are initially allocated 100 percent of the offering
Business
TAQA posts a net income of AED6bn for 2021
Abu Dhabi National Energy Company (TAQA) has posted a net income (TAQA-share) of AED6.0 billion, a jump of AED3.2 billion,...
- The company has attributed the increase in income to a greater contribution from the Oil & Gas segment
- The Group revenues of AED45.7 billion, 11 percent higher than the prior-year period, primarily due to higher commodity prices within the Oil & Gas segment
Business
Google buys $1bn London office
It is buying the Central St Giles office site, where it is a tenant.
- Google, however, stressed it remained committed to new hybrid working patterns in the wake of Covid-19
- It said it would give the site a multi-million-pound overhaul for flexible working patterns, including outdoor work spaces
Business
DGCX total value traded worth $150bn in 2021
The Dubai Gold and Commodities Exchange (DGCX) has reported that the exchange recorded a yearly AOI a sum of 1,985,584...
- The DGCX’s best performing product in 2021 was its Indian Rupee Options (DINRO) Futures Contract, which traded up 1,233 percent
- the DGCX also signed a strategic MoU with Victoria Falls Stock Exchange (VFEX) aimed at supporting with the development of a clearing commodities exchange in Zimbabwe
Business
Natixis of France to fund ACWA Power projects with $2bn
Natixis Corporate and Investment Banking of France has signed an agreement to finance ACWA Power projects over the next two...
- The MoU will allow both parties to “explore opportunities to develop new projects in the region,”
- Natixis has previously underwritten some of the Saudi-listed firm’s high-profile renewable projects, including the Sakaka solar project
Geostrategy
UAE and US review strategic cooperation and events in MENA
Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, reviewed strategic cooperation and joint coordination in a meeting...
- The two exchanged views on the overall issues and topics of mutual interest, particularly the latest developments in the Middle East
- Sheikh Mohamed welcomed their visit to the UAE and pointed at the significance of such visits to exchange views and thoughts regarding various issues of mutual interest
Business
Trade between Jordan and UAE grows to $891m in 2021
Trade between Jordan and the United Arab Emirates has grown to $891 million during the course of last year, and...
- The details of the growing economic ties between the two countries were shared by the prime minister of Jordan Bisher Khasawneh
- He said the UAE has poured almost $17 billion into the Kingdom investments as it considered as one of the key partner in this regard
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
Company News
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Hamriyah Freezone and Amazon UAE sign lease agreement for new logistics center
Sharjah, UAE--Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics centre which will...
Business
Bahrain’s SCE signs agreement with Foulath Holding Company
Manama, Bahrain--The Supreme Council for the Environment (SCE) signed a cooperation agreement with Foulath Holding Company to boost sustainable development...
Economy
Hamriyah Freezone Authority, Amazon UAE ink pact for logistics center
SHARJAH, UAE - Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics center...
Business
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Economy
Capital flows to emerging markets facing short-term headwinds: QNB
Doha, Qatar--Qatar National Bank (QNB) said that the global macro trends are starting to present short-term challenges to emerging markets...
- QNB said in its weekly analysis that after a span of positive inflow of capital to emerging markets touching US$50bn in January, the flow turned negative since August
- Indicators suggest below trend growth in the Euro area, China and several other EM and as a result the growth gap is expected to further widen in favour of the US versus EM
Geostrategy
UAE and Belgium urge accelerated efforts to ‘restore regional stability’
Abu Dhabi, UAE-- The UAE and Belgium have stressed the importance of coordinating regional and international efforts to protect civilians...
- The call for intensification of efforts to protect civilian lives came in a meeting between UAE's and Belgian foreign ministers in Abu Dhabi
- The two ministers touched on the fighting between Israel and Hamas and efforts to end extremism, violence, and deescalate tensions in the region
Business
Durar launches ‘MASA Residences’ in Ras Al Khaimah worth US$190.58m
RAS AL KHAIMAH -- Durar, a prominent UAE real estate developer, is set to launch MASA Residences, a luxury residential...
- Christie’s International Real Estate Ras Al Khaimah will exclusively handle sales and marketing for the development
- The project marks Durar's entrance into the UAE's northern Emirates and is poised to elevate Al Marjan Island's landscape