UAE construction market soars to $94bn in 2023
Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of...
Economy
Geostrategy
Netanyahu optimistic about Israel-Saudi relations
This comes after Saudi Crown Prince Mohammed bin Salman hinted at the ongoing efforts to establish ties between the two...
- He told Fox News in an interview that he was delighted to hear what Saudi Arabia's Crown Prince Mohammed bin Salman had to say on peace with Israel
- He praised Mohammed bin Salman as "quite a visionary" and expressed confidence in the combined efforts of the U.S., Saudi Arabia, and Israel to achieve peace
Economy
Kuwait and China sign raft of agreements to bolster ties
Looking to shore up ties between the two countries, Kuwait and China have signed cooperation agreements across a range of...
- The two leaders also discussed avenues to further strengthen ties for the mutual prosperity of the two nations
- They deliberated on regional and international developments and expressed desire to solidify strategic partnership
Business
UAE stocks generate strong cash flows as DFM hits 8-month high
Abu Dhabi, UAE--UAE stock markets Thursday continued to capitalize on improved investor sentiments, defying US Fed's decision to keep interest...
- Energy, banking and real-estate stocks lead the gainers in the capital's bourse as Emaar drove DFM to an 8-year high of 4,179.680 points
- In Abu Dhabi, Index FADGI closed 0.239% higher at 9,845.990 points, buoyed by robust trading over real estate giant Aldar Properties which ended 7.9% up
Geostrategy
Israeli PM Netanyahu to visit Turkey: Erdogan
Turkey's President Recep Tayyip Erdogan told reporters in New York that he will visit Israel too once Benjamin Netanyahu will...
- The two leaders met at the Turkish House in New York on the sidelines of the 78th session of the UN General Assembly
- The two countries also reached an agreement to raise trade volume from $9.5 billion to a minimum of $15 billion
Geostrategy
Kuwait seeks support in its bid for UN Human Rights Council seat
New York, US-- Kuwait has exhorted UN member states to back its bid for a seat on the UN Human...
- The Kuwaiti prime minister gave a peek into the "New Kuwait" vision that aims to position the country as a global financial, commercial, and cultural center
- He underscored Kuwait's resolve to bridge cooperation and offer solutions to human rights issues in keeping with international law and UN resolutions
Business
Airports Council International sets up first office in Riyadh
Riyadh, Saudi Arabia-- The Airports Council International (ACI) for Asia-Pacific and the Middle East has established its first office in...
- The office was inaugurated by the kingdom's Minister of Transport and Chairman of the Board of Directors of the General Authority of Civil Aviation, Saleh Al-Jasser
- He said that the opening also aligns with the strategy aimed at strengthening air connectivity with countries worldwide, reaching 250 international destinations
Business
Spire Technologies secures banking license from Central Bank of Bahrain
Manama, Bahrain--Spire Technologies has obtained licenses from the Central Bank of Bahrain (CBB), authorizing it to operate as a fully...
- The banking fintech seeks to contribute to the growth of the digitally-led national financial ecosystem and widen its presence in the region
- It intends to provide users with full agency over business cashflows, offering a rich user experience as well as faster, secure payments
Economy
UAE and Serbia hold discussions on signing of CEPA
In order to boost trade and investment flows and private-sector collaboration, the UAE and Serbia have begun talks on Comprehensive...
- The bilateral non-oil trade in H1 reached US$57.6 million, surpassing the total recorded for the whole of 2020
- Until now, the UAE has successfully concluded CEPAs with India, Indonesia, Israel, Türkiye, Cambodia and Georgia
Economy
Oman annual inflation inches up 0.82 percent in August
Muscat, Oman--Annual inflation of Oman has shot up 0.82 percent in August as against 2.4 percent in the same month...
- Food prices were also up with an 11.65 percent hike in fish and seafood, an 8.87 percent increase in dairy and egg prices and a 5.5 percent uptick in vegetable costs
- The cost of household furnishings and routine maintenance went up by 2.63 percent, miscellaneous goods and services by 2.61 percent, dining and lodging by 2.46 percent
Business
Emirates Health Services to adopt AI technology to boost hospital care services
Dubai, UAE-- Emirates Health Services will employ AI technology in the application of patient room monitoring system to further enhance...
- The partnership will leverage generative AI and implement the care.ai system across EHS healthcare facilities
- It will monitor the mental well-being of the patients, as well as help prevent and control infections and assess hygiene conditions
UAE construction market soars to $94bn in 2023
Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of...
Economy
Company News
Latest News
DP World signs MoUs in India
Business
AD Ports launches Noatum Logistics Middle East
The firm said the new brand will replace MiCCO Logistics.
Business
Iran and Turkey to set up free trade zone at border in Khoy city
Tehran, Iran--Iran and Turkey will join hands to set up a free trade zone at the border crossing in Khoy...
Business
SAIF Zone signs MoU with Tokai Optical
The Japanese firm will lease a warehouse in the free zone.
Business
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Economy
Egypt’s wheat and oil reserves sufficient for several months, says minister
Cairo, Egypt-- Egypt has enough reserves of wheat to last it for many months, according to Dr. Ali Al-Moselhi, the...
- The minister said that 100 tonnes of sugar have been produced from the cane crop so far, and that preparations are underway to receive the beet crop in mid-March
- The country purchases around five million tonnes of wheat annually from abroad, and subsidised bread is available to more than 70 million of its 104 million population
Business
Qatar and Nepal discuss boosting economic cooperation
Doha, Qatar--Qatar and Nepal have held talks to enhance commercial and economic relations between the two countries, explored the investment...
- The talks are likely to pave way for more cooperation and partnership between the Qatari and Nepalese private sectors
- The Qatar official emphasized the importance of holding trade and business visits between both sides to explore cooperation
Business
JADCO, EGG ink MoU on development of agriculture in Saudi Arabia
RIYADH, SAUDI ARABIA - The Ministry of Environment, Water and Agriculture witnessed the signing of a memorandum of understanding (MoU)...
- The agreement involves the transfer and localization of potato seed production techniques in the Kingdom.
- The aim of the collaboration is to support the transformation of local companies into industrial agricultural entities.