Nakheel, Meydan join Dubai Holding
The Board of Directors of both Nakheel and Meydan will be abolished.
Business
UAE financial system more secure and efficient than before, says CBUAE
Abu Dhabi, UAE--The technological and structural advancements in the UAE financial sector continues to enhance security, operational efficiency, accessibility of...
Economy
Business
Vitronic signs contracts in MENA
The contracts to install traffic systems are worth US$211m.
- Vitronic Middle East will install over 2,000 "cutting-edge traffic enforcement systems in high-risk areas" over the next few months.
- It said In a statement that traffic management and enforcement systems provide benefits that go beyond the daily lives of individuals
Business
Iran to sign long-term contract with India on Chabahar Port
Tehran, Iran-- Iran will sign a long-term contract with India to develop Chabahar Port, according to the Islamic republic's minister...
- The Iranian minister said that a long-term contract to operationalize Chabahar Port will be signed with India in the near future
- He said that in order to develop the country's transit, it is important to develop north-south corridors with a rail connection
Business
DP World spends US$6bn
It invested the money to be a big supply chain player.
- DP World's CEO, Sultan Ahmed bin Sulayem, made the remarks during the 21st Arab Media Forum in Dubai, at a session titled ‘Trade in a Changing World’
- He said the company made the switch from operating ports to becoming a global leader in smart end-to-end supply chain logistics, facilitating worldwide trade flows
Business
UAE explores partnership with China in labor and human resources
Dubai, UAE - UAE and China explored opportunities for the two countries to cooperate and exchange experiences in areas related...
- They also discussed the role that joint efforts play in promoting growth and encouraging entrepreneurship.
- The two sides presented their respective plans for developing priority business sectors.
Geostrategy
UAE and India look to boost ‘comprehensive strategic partnership’
New York, US-- The UAE Foreign Minister Sheikh Abdullah bin Zayed has held talks with Subrahmanyam Jaishankar, External Affairs Minister...
- The two ministers reviewed the issue of climate change and bilateral cooperation in this regard, and also discussed the UAE's hosting of COP28 this year
- The UAE's foreign minister emphasized that the two countries are keen to support multilateral international action to find effective solutions to all global challenges
Business
Iran’s exports of agriculture products climb up 10% to US$1.62bn
Tehran, Iran-- Iran's exports of agricultural products to the outside world shot up 10% in the first 5 months of...
- The United Arab Emirates, Iraq and the Russian Federation were the major destinations for Iran's exported crops
- During the first 5 months of 2023, a total of 2,169 million tons of agricultural products worth $1.62 billion were exported
Geostrategy
Saudi Arabia launches new TV channel to highlight ‘rapid progress’
Riyadh, Saudi Arabia-- Saudi Broadcasting Authority (SBA) has launched a new TV channel called Saudia Alaan (Saudi Now) to highlight...
- The channel will showcase the kingdom’s “rapid progress” towards the Saudi Vision 2030 and its recent advancements, which are reflected in the diverse events
- The airing of the channel comes at a time when the kingdom is witnessing a significant increase in the number of events, exhibitions, and conferences
Economy
UAE and Japan hold discussions to boost economic, strategic ties
Tokyo, Japan-- The UAE and Japan have held discussions to boost partnership in various sectors of the economy even as...
- Al Jaber chaired the first ministerial meeting of the comprehensive strategic partnership between the two countries in Tokyo
- He met with the Japan's minister of economy to explore avenues for bilateral relations, including the latest developments in trade and investment
Geostrategy
Iran does not intend to build nuclear weapons: Raisi
Defending his country's enrichment of uranium to 60 percent purity level, noting that it was a response to European states...
- In 2021, Iran began to enrich uranium to 60 percent in the wake of an attack on its nuclear facility in Natanz
- The president said the US-brokered effort to normalize Israeli relations with Gulf States will not succeed
Economy
Jordan, Egypt and Iraq pledge to boost ties in economic and political fields
New York, US-- Jordan, Iraq, and Egypt have pledged to cement the partnership between themselves in order to boost cooperation...
- The foreign ministers of the three countries met in New York on the sidelines of the 78th session of the United Nations General Assembly in New York
- They reaffirmed the importance of completing the projects and taking the new initiatives in the fields of electrical connections, renewable energy, communications, trade
Nakheel, Meydan join Dubai Holding
The Board of Directors of both Nakheel and Meydan will be abolished.
Business
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Top economists warn global economy will weaken in 2024
World Economic Forum
GCC central banks mimic Fed, hold interest rates steady
Abu Dhabi, UAE--In a significant move that underscores the interconnectedness of global monetary policies, central banks across the Gulf Cooperation...
Economy
Air cargo demand rebounds in 2023 amid economic uncertainty
Geneva, Switzerland-- Air cargo demand rebounded in 2023 with a particularly strong fourth quarter performance despite economic uncertainties, according to...
Business
UAE economy to grow 5.7% in 2024 in spite of global challenges
Abu Dhabi, UAE-- The UAE economy is projected to grow by 5.7% in 2024 despite prevailing global economic challenges, including...
Business
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Business
UAE and UK seek to boost economic cooperation
Abu Dhabi, UAE-- Looking to enhance economic ties between the UAE and the United Kingdom, Abdulla bin Touq Al Marri,...
- The discussions to boost trade ties took place during a UAE delegation's visit to the UK to participate in Investopia London, to be held on January 31, 2024
- The UAE minister said the relations between the two countries serve as a prime example for advanced strategic ties and exceptional economic partnership
Business
KEZAD to build new warehouses
It will invest US$169m to develop new capacity.
- The building of new warehousing was spurred by strong demand for such capacity in both free zone and domestic industrial areas
- The group since the third quarter of 2022 has thrown open more than 270,000 sq metres of additional warehousing space in Abu Dhabi
Geostrategy
Saudi envoy to US deplores Western media criticism of women rights in kingdom
Washington D.C., US--– Saudi Arabia's ambassador to the US, Reema Bandar Al-Saud, has expressed disappointment with recent media criticism of...
- The ambassador, reacting to an opinion piece in the Washington Post, slammed the piece for relying on "outdated stereotypes and western-centric views"
- She cited inaccuracies in the portrayal of Saudi women as oppressed and devoid of rights and said that the kingdom has made substantial progress in women's rights