Bahrain and France sign MoU to boost tourism education
Lyon, France--Vatel Hotel and Tourism Business School Bahrain signed a memorandum of understanding (MoU) with EKLYA School of Business in...
Business
Thousands of international companies join Dubai Chamber of Commerce in 2023
Dubai, UAE--A study undertaken by Dubai Chamber of Commerce has revealed that Indian investors topped the list of nationalities of...
Business
Geostrategy
Treaty on strategic partnership between Russia and Iran 85% ready: Lavrov
Tehran, Iran--A treaty on comprehensive strategic partnership between Russia and Iran is about 85 percent ready, Russian Foreign Minister Sergey...
- Lavrov said the work on the treaty is at an advanced stage with several issues yet to be agreed upon, and that negotiations are going on
- Iran hosted the meeting on the South Caucasus in Tehran, attended by foreign ministers of Russia, Turkey, Azerbaijan, Iran, and Armenia
Geostrategy
UAE and Canada review bilateral ties at first joint-committee meeting
Abu Dhabi, UAE-- The UAE and Canada have reviewed bilateral ties at the first joint committee meeting in Abu Dhabi...
- Both sides highlighted the importance of the inaugural joint committee meeting for ramping up collaboration between the two countries to achieve shared goals
- The two sides discussed cooperation across a range of fields, including defense and security, climate change, food security, trade and investment, innovation, and education
Business
Knowledge E and HBMSU sign agreement to ‘reshape future of education’
Dubai, UAE-- Hamdan Bin Mohammed Smart University (HBMSU) and Knowledge E have signed a memorandum of understanding to reshape the...
- Vice Chancellor of HBMSU said the MOU is a step in the university's march toward transforming education in a way that brings smart learning innovation into the sector
- As per the terms of the agreement, both sides will collaborate in several key areas - including content digitisation and self-paced courses, management of HBMSU's journal system
Business
PIF and Hyundai to set up JV vehicle-manufacturing plant in Saudi Arabia
Riyadh, Saudi Arabia--The Public Investment Fund (PIF) and Hyundai Motor Company (Hyundai) have signed a joint-venture agreement to establish an...
- The investment in the joint-venture project is expected to exceed $500 million with PIF to hold 70 percent stake and Hyundai the remaining 30 percent
- The JV project will speed up Saudi Arabia's automotive industry in addition to creating thousands of jobs and allowing for the transfer of knowledge and expertise
Business
EHS and Burjeel Hospital for Advanced Surgery sign MoU
Dubai, UAE--Emirates Health Services (EHS) and Burjeel Hospital for Advanced Surgery have signed a memorandum of understanding (MoU) to bolster...
- The MoU is designed to improve the delivery of health services in government schools in accordance with sustainable development goals in public health
- Both the sides maintained that the objective is to strengthen cooperation between the EHS and Burjeel Hospital for Advanced Surgery in healthcare and continuous development
Business
New CEO appointed in SRC
Majeed Al Abduljabbar will be the CEO from January 1, 2024.
- Al Abduljabbar has been working in the banking sector for over 15 years, including in the HSBC Bank in London.
- He also contributed to establishing the Department of Innovative Investment Solutions at SABB (now SAB).
Business
Multiply Group profit soars
Its Q3 revenue posted a 24 percent jump to US$96 million.
- The group posted a 337 percent increase in net profit, excluding fair value changes, to $90.12 million for Q3 2023
- It acquired a 55% majority stake in Media 247, a leading UAE outdoor advertising firm, at an investment of $61.26 million
Economy
Kazakhstan aims to expand trade ties with UAE to the tune of US$1bn
Abu Dhabi, UAE--Kazakhstan is keen to expand trade ties with the UAE, setting a target of $1 billion in mutual...
- He noted how new trade roads from the Caspian Sea to Abu Dhabi and Dubai ports in the UAE can connect the region
- The minister said that Kazakhstan is committed to using its agricultural potential to address global food shortages
Economy
UAE president and Vietnam PM explore ways to boost ties
Riyadh, Saudi Arabia-- UAE President Sheikh Mohamed bin Zayed and Vietnamese Prime Minister Pham Minh Chinh have explored opportunities to...
- They looked at ways to boost ties to serve mutual interests and realise the aspirations for further development and prosperity
- The two leaders met on the sidelines of the joint summit between the GCC and ASEAN, which commenced in Riyadh, Saudi Arabia
Business
Palms Sports posts Q3 profit
Its revenues rose 77% to US$92m in the same period.
- The company's revenue from contracts climbed 77% in Q3, surging from $58.43 million to $92 million
- Its CEO and MD Fouad Darwish said they expect Q4 to "a healthy growth year for Palms Sports"
Bahrain and France sign MoU to boost tourism education
Lyon, France--Vatel Hotel and Tourism Business School Bahrain signed a memorandum of understanding (MoU) with EKLYA School of Business in...
Business
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SCCI and Oman Chamber aim to boost investment cooperation
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and the Oman Chamber of Commerce and Industry (OCCI) discussed ways...
Business
Bahrain to host ‘smart cities summit 2024’ in March
Manama, Bahrain--Bahrain will hold the seventh edition of the "Bahrain Smart Cities Summit 2024" from March 5 to 6 under...
Economy
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Economy
Arab countries public expenditure climbs to US$957.5bn in 2022: AMF
Abu Dhabi, UAE--The total public expenditure of Arab countries combined jumped by 9.8% to $957.5 billion in 2022, compared to...
- According to the AMF, the combined public budgets of Arab countries posted a surplus of about $119.6bn in 2022, compared to a deficit of $62.5bn in 2021
- The AMF report said Arab countries' GDP at constant prices climbed by about 6% in 2022, after reaching 3.6% in 2021, while it grew by 24.6% in 2022
Business
Economic forum in Amman to enhance trade ties between Iraq, Jordan
AMMAN, JORDAN - The Iraqi Business Council, in collaboration with the Jordanian and Amman Chambers of Industry, is set to...
- This event aims to enhance financial, industrial and commercial partnerships among Iraq, Jordan and other countries in the region.
- The event will spotlight the myriad of investment, commercial and industrial opportunities available in Jordan and Iraq.
Economy
OPEC Fund grants US$30m loan to Uganda to build key road link
Vienna, Austria--The OPEC Fund for International Development (OFID) has granted a US$30 million loan to support the development of a...
- The construction of the road will provide better, faster and safer transport connections in the central-east region of the country
- The Islamic Development Bank (IsDB) along with the government of Uganda will co-finance the road project in the African nation