Qatar and Estonia sign agreement to avoid double taxation
Doha, Qatar--Qatar and Estonia have signed an agreement to avoid double taxation and prevent income tax evasion.The agreement was signed...
Economy
Dubai Chambers, DP World partner to lure global investment to the emirate
Dubai, UAE--Dubai Chambers has signed a memorandum of understanding (MoU) with DP World to enable the chambers to leverage DP...
Economy
Business
Sharjah to host Gulf-Iraq business forum to ramp up economic ties
Sharjah, UAE--Sharjah will host the first-ever Gulf-Iraq Business Forum on 26th and 27th September to boost economic ties between the...
- The business forum will look into boosting investment and trade ties between the GCC countries and business groups within Iraq
- Iraq has been an old business and trading partner for the countries in the GCC region and the forum will seek to consolidate the cooperation
Geostrategy
Bahrain and US review partnership in political, economic and security fields
Manama, Bahrain--Bahrain and the United States have reviewed joint cooperation, partnership and strategic dialogue in the political, economic and security...
- Both officials lay stress on continuing efforts to prevent the proliferation of weapons of mass destruction and ensure cyber security
- The Bahraini official underscored the importance of exchaning expertise on the use of modern technologies and AI in space affairs
Economy
Saudi Arabia and Turkey to boost ties in industrial, mining sectors
The two countries signed a memorandum of understanding (MoU to boost mining cooperation in critical minerals needed in new technologies...
- The two countries desire to ramp up mutual investments in the manufacturing sector
- Turkish companies would attempt to obtain more shares of Saudi Arabia's projects
Economy
Oman and South Korea sign agreement on green energy transition
Muscat, Oman--Oman has signed a memorandum of understanding (MoU) with South Korea in the field of green energy transition.The MoU...
- The agreement underscores keenness in both countries to consolidate cooperation in green transition as the relations deepen
- The two countries will devise green transition policies and programs and develop technologies for environment conservation
Economy
Red Sea Global launches ‘Tamala’ to transform agricultural economy in Tabuk
Riyadh, Saudi Arabia--Red Sea Global (RSG) has announced the launch of the Red Sea Farms Cooperative (Tamala), established through integrated...
- Tamala intends to develop a model entity in order to boost the role of cooperatives in the agricultural sector in the kingdom
- It plans to provide agricultural inputs to farmers which contribute to improving agricultural production and farmers' quality of life
Geostrategy
Iran-Russia military ties not subject to US dictates: Russia deputy FM
Tehran, Iran--Iran and Russia are independent countries whose military cooperation is not subject to the dictates of the United States...
- The Russian minister said that Iran and Russia were independent countries and not subject to the dictates of the US and its allies
- He termed the military cooperation with Iran as completely legal and fully consistent with the international obligations of Russia and Iran
Economy
Bahrain to partner with private sector to ramp up investments in oil projects
Manama, Bahrain--Bahrain has indicated its keenness to encourage investments in the kingdom's oil and environmental projects through partnerships with the...
- The oil minister said that investments can be made in partnership with the private sector, especially banks providing the necessary support
- He made the remarks in a meeting with Abdulfattah Sharaf, HSBC Bank Middle East Board of Directors Chairman, and the accompanying delegation
Science
NASA and SpaceX Dragon spacecraft blasts off to ISS
Florida, US--NASA and SpaceX's Dragon spacecraft blasted off on Saturday carrying four astronauts to the International Space Station.The Crew-7 mission...
- Carried by a Falcon 9 rocket, the Dragon spacecraft lifted off at 3:27 am (0727 GMT) from Launch Complex 39A at NASA's Kennedy Space Center in Florida
- The multinational crew will spend six months aboard the ISS, where they will carry out science experiments including collecting samples during a spacewalk
Economy
Jordan secures US$1.9bn in foreign aid amid dire global economic conditions
Amman, Jordan--Jordan has succeeded in securing US$1.9 billion in foreign aid and negotiations are underway to ramp it to $3.2...
- Speaking at a forum, Jordan's minister of planning spoke of the kingdom's financial landscape and how it interacted with global economic trends
- The minister also underscored the kingdom's collaboration with international financing entities that offer affordable funding to Jordan's private sector
Arts & Culture
Saudi Arabia’s archeologists make ‘significant’ discoveries at Al Abla site
Riyadh, Saudi Arabia--Saudi Arabia's Heritage Commission has announced significant discoveries made at the Al-Abla site in Asir region during the...
- The archeologists discovered features of residential and industrial units with gypsum-coated walls and floors
- They found hammerstones, grinders, and pairs of quern stones in various sizes and forms, and shards of pottery
Qatar and Estonia sign agreement to avoid double taxation
Doha, Qatar--Qatar and Estonia have signed an agreement to avoid double taxation and prevent income tax evasion.The agreement was signed...
Economy
Company News
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Bahrain and Slovakia to ramp up cooperation in urban planning
Manama, Bahrain-- Bahrain and Slovakia are looking to ramp up the ongoing cooperation in urban planning and sustainable development.In this...
Economy
Google to invest US$1bn in UK data centre
It will meet growing demand for internet services in the region.
Business
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Business
Sharjah Islamic Bank profit surges
It posted a 31% jump in net profit to US$229.13m in 2023.
- The bank's operating profits also recorded a 23 percent rise, reaching $554 million for 2023, up from $435 million in 2022
- Its board of directors has proposed a 10 percent cash dividend, subject to approval at the upcoming general assembly meeting
Business
Oman Investment Authority launches fund worth US$5.19 billion
Muscat, Oman--The Oman Investment Authority (OIA) has unveiled a new fund called “Future Fund Oman” valued at US$5.19 billion.The fund...
- The fund, according to Oman News Agency, has a capital of $5.19bn to be utilised over five years, with $1bn every year
- It will allocate 90 percent of its capital to invest in new or existing investment projects that prove to be economically viable
Economy
China’s economy to grow steadily in 2024, say analysts
Beijing, China--China's economy is likely to pick up the pace and grow steadily in 2024 after a bumpy recovery last...
- Many experts believe that China needs to set an annual GDP growth target of around 5 percent to boost business confidence
- The Chinese economy grew 5.2% in the fourth quarter of 2023 year-on-year, following a 4.9% growth in the third quarter