UAE and Greece hold talks to widen economic cooperation
Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues...
Economy
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...
- 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
Geostrategy
UAE-Hungary Political Consultations Committee discusses boosting cooperation
Budapest, Hungary--Senior officials from the UAE and Hungary met in Budapest on 22nd August for the inaugural round of the...
- Officials from the two countries reviewed the expanding relations and discussed ways to boost opportunities in order to ramp up economic and trade ties
- The UAE ambassador had a series of meetings with senior officials, intellectuals, and cultural figures intended to deepen relations between the two countries
Geostrategy
GCC chief stresses importance of strategic partnership with US
Riyadh, Saudi Arabia--GCC Secretary General Jasem Albudaiwi has emphasized the importance of Gulf-US strategic relations that support joint cooperation and...
- Albudaiwi, in a statement, underscored the outcome of the joint meeting which was held last June between the GCC foreign ministers and the USA
- He pointed to the importance of strategic partnership between the GCC countries and the United States in maintaining peace and security in the Middle East
Economy
Egypt reports drop in unemployment rate in Q2 of 2023
Cairo, Egypt--Egypt's unemployment rate fell slightly by 0.1 percent to 7 percent in the second quarter of 2023, according to...
- According to data, some two million Egyptians were without work, including 1.2 million men and 941,000 women
- The country's annual inflation rate jumped to 38.2% in July, up from 14.6% in the same month a year earlier
Business
Jadwa buys stake in Gissah
The investment bank bought a 35% stake in Kuwaiti firm.
- The Saudi investment bank bought the stake through its private equity arm Jadwa Retail Opportunities Fund
- It will help Kuwaiti perfume company to prepare for a public listing on the Tadawul, Saudi Arabia's stock market
Business
Subway to sell for US$9bn
The fast-food chain has some 37,000 outlets across the world.
- In February, the company said it had hired JPMorgan to advise it on a possible sale, while saying it "remains committed to the future"
- A few months back, it unveiled a franchising agreement to open some 4,000 restaurants in mainland China over the next 20 years
UAE and Greece hold talks to widen economic cooperation
Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues...
Economy
Company News
Latest News
SABIC to build petrochemical plant in China
The Saudi giant will develop the US$6.4bn plant in Fujian.
Business
Qatar Chamber discusses ways to boost ties with Korean companies
Doha, Qatar--The Qatar Chamber (QC) discussed ways to enhance cooperation and exchange expertise with Korean companies in agriculture and food...
Business
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Business
Google to invest US$1bn in UK data centre
It will meet growing demand for internet services in the region.
- The site for the centre, bought by Google in 2020, will be located in the town of Waltham Cross, about 15 miles north of central London
- The UK government pushing for investment to help fund new infrastructure, termed Google's investment as a "huge vote of confidence"
Business
Dubai World Trade Centre to host Japan trade exhibition next week
Dubai, UAE--The first edition of the Japan Kyoto Trade Exhibition 2024 is all set to kick off this Monday, 22nd...
- The event is expected to attract around 20,000 visitors, and more than 100 Japanese exhibitors
- The exhibitors will represent a diverse range of industrial sectors, like technology and animation
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