Middle East to receive millions of Chinese tourists lost in Covid pandemic
Dubai, UAE-- Outbound travel from China is estimated to almost double this year, compared with 2023 and will only be...
Business
SCCI and Thailand look to boost economic cooperation
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry and Thailand have explored ways to boost trade and economic cooperation. In...
Business
Business
Aldar ties up with Yellow Door Energy
They will supply solar power to 45 properties in the UAE.
- As part of Aldar's Net Zero Plan, the switch to solar power will prioritise on-site clean energy generation
- Starting in 2024, the transition to solar will reduce 23,000 tonnes of CO2 emissions in its first year
Business
UAE, South Korea look to deepen collaboration in water sector
Dubai, UAE-- The UAE and South Korea Korea are looking to boost ties in the water sector and in this...
- The joint committee will seek to ramp up bilateral cooperation in the water sector, taking into account global changes and serving the best interest of both nations.
- The Korean delegation was also apprised of the Water Security Strategy 2036 that aims to reduce the loss in the water network, decrease total demand for water resources by 21%
Business
Kings Aluminium starts building US$204m facility in KEZAD
Abu Dhabi, UAE-- Kings Aluminium Industries has begun constructing a state-of-the-art aluminium manufacturing and recycling facility in Khalifa Economic Zones...
- The aluminium factory spread across 100,000 square metres of land leased from KEZAD Group will source its raw material from Emirates Global Aluminium
- The facility will localise the manufacturing, utilise local raw materials, enhance environmental as well as sustainability aspects in the production process
Business
Saudi EVIQ unveils R&D facility
It will be used to test a range of EV chargers and software.
- The CEO of EVIQ said that with the setting up of R&D facility the company was paving the way for the growth of a sustainable EV ecosystem in Saudi Arabia
- The company said that the facility will serve as a hub for developing the expertise and knowledge in EV charger technology, bolstering the EV market in the kingdom
Business
Russia’s Gazprom sets new daily record for gas supplies to China
Moscow, Russia--Gazprom has set a new record for daily gas supplies to China via the Power of Siberia pipeline on...
- According to Gazprom, supplies are made under a bilateral long-term gas purchase and sale agreement between the oil company and China
- The company added that since November it has ramped up the volume of gas supplies to China as per the previously signed additional agreement
Business
Nissan to export EVs globally
It would sell China-developed EVs all over the world.
- The automaker is looking to export the line-up of existing internal combustion engine vehicles and pure electric and hybrid cars
- China accounted for just over a fifth of Nissan's worldwide sales of about 2.8 million vehicles over the first 10 months of the year
Economy
Qatar records 6 percent drop in Industrial Production Index in October
Doha, Qatar-- Qatar has recorded a 9.3 percent drop in the Industrial Production index (IPI) in the month of October...
- The mining sector posted an 11.1 percent fall as compared to September due to the decrease in the quantities of "crude oil petroleum and natural gas"
- However, manufacture of cement and other non-metallic mineral products posted a 4.3 percent jump, and printing and reproduction of recorded media increased by 3.2 percent
Business
Qatar Airways and Asian Football Confederation sign partnership deal
Doha, Qatar--Qatar Airways Group and the Asian Football Confederation (AFC) have signed a global partnership set to transform the fan...
- The airline said that the partnership will run from 2023 to 2029 in time for the AFC Asian Cup Qatar 2023, which kicks off next year in January
- Qatar Airways CEO said that the agreements marks a shared commitment to linking up people across borders and promoting competitive sportsmanship.
Business
Qatar receives more than 3-million tourists in 2023
Doha, Qatar-- Qatar received more than three million tourists from around the world during the ongoing year, making the oil-rich...
- The chairman of Qatar Tourism made the remarks during his opening speech at the 26th session of the Arab Ministerial Council for Tourism, held in Doha
- Al Kharji added that tourism has been one of the most important drivers of economic growth and sustainable development in many countries worldwide
Business
ADQ and Azerbaijan’s AIH set up joint-investment platform
Abu Dhabi, UAE--ADQ, an Abu Dhabi-based investment and holding company, and Azerbaijan Investment Holding (AIH), a strategic sovereign wealth fund...
- The joint-investment platform will leverage investment opportunities with the goal of generating sustainable financial returns on deployed capital
- Both the entities will each hold a 50 percent interest in the joint venture, with each party committing US$500 million to the JV platform
Middle East to receive millions of Chinese tourists lost in Covid pandemic
Dubai, UAE-- Outbound travel from China is estimated to almost double this year, compared with 2023 and will only be...
Business
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Doha Insurance net profit up
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ADIB unveils new payment hub
Business
Arab League organizes workshop to discuss BRICS role in MENA region
Cairo, Egypt--The Arab League (AL) on Sunday organized a workshop in Cairo to discuss the role of BRICS for African...
Multiply Group acquires Backlite Media
The buyout is part of its plan to boost media business.
Business
Morocco aims to increase exports by 12% in 2024, says kingdom’s trade minister
Dubai, UAE-- Morocco hopes to increase its exports by 12 percent this year, according to the kingdom's minister of industry...
Economy
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Business
China discovers world’s largest metamorphic rock oilfield in Bohai Sea
BEIJING, CHINA – The China National Offshore Oil Corporation (CNOOC) has announced the recent discovery of the largest metamorphic rock...
- The Bohai 26-6 oilfield is situated approximately 170 kilometers from Tianjin Municipality.
- It has been anticipated that the average daily oil production will surpass 390 cubic meters.
Economy
China pledges to ‘work with all’ for results at Abu Dhabi WTO conference
Abu Dhabi, UAE--China is willing to work with all parties to achieve more pragmatic results at the 13th Ministerial Conference...
- China, according to Wentao, supports efforts such as the restoration of the normal functioning of the WTO's dispute settlement mechanism
- The minister said China also supports the inclusion of the agreement on investment facilitation for development into the WTO's legal framework
Economy
WTO chief economist applauds UAE ‘commitment’ to trade liberalization
Abu Dhabi, UAE-- Applauding the UAE's commitment to trade liberalization, including development of green and digital trade globally, Ralph Ossa,...
- The WTO economist said the UAE is a "natural fit" for hosting the ministerial conference, praising the country's focus on low tariffs and export diversification
- Ossa said the conference is looking to make progress on range of issues such as the reform of dispute settlement system, constraints on subsidies leading to overfishing