UAE ministry of defense, Masdar to set up solar plants in Abu Dhabi
Abu Dhabi, UAE--The UAE Ministry of Defence and Masdar have signed an agreement to develop multi-solar plants across Abu Dhabi....
Economy
Economy
Suez Canal ship traffic normal after tanker collision
Cairo, Egypt--Shipping traffic was flowing normally on Egypt's Suez Canal on Wednesday, two shipping sources based in the country said,...
- According to ship tracking company MarineTraffic, the two tankers briefly collided in the canal citing eyewitnesses
- A media outlet quoting a Suez Canal official said that a ship that broke down in the canal was starting to be towed
Geostrategy
Iran ready to boost military ties with Russia: General Heidari
Tehran, Iran-- Iran will boost military cooperation with Russia as the two countries look to strengthen strategic partnership. According to...
- The Iranian army commander made the remark during a meeting with the Commander-in-Chief of the Russian Army, General Oleg Salyukov, in Moscow
- The two generals pledged to continue promoting mutual ties between the ground forces of the two countries in various fields in the coming months
Business
Saudi Esports Federation to launch ‘Next World Forum’ in Riyadh
Riyadh, Saudi Arabia--The Saudi Esports Federation will launch the "Next World Forum" on August 30 and 31 in Riyadh, at...
- Next World Forum will discuss opportunities in the gaming and esports industry valued to be at $170 billion globally
- The forum will also hold a discussion on the challenges women are facing in achieving leadership roles in the industry
Business
e& capital invests in Maxbyte
The funding aims to expedite growth by bolstering sales team.
- Maxbyte is a leading provider of Industry 4.0 solutions with a strong presence in the automotive, defense, utilities, and food and beverage sectors.
- It aims to enable smart connected industrial enterprise for flexibility, productivity, predictable revenue and profit growth, as well as sustainability.
Economy
Kuwait looks to boost cooperation with WHO in ‘all health services’
Kuwait City, Kuwait-- Kuwait is looking to strengthen cooperation with the World Health Organization in all health services, according to...
- The minister pointed out to the WHO official how Kuwait addressed health challenges and implemented strategies to handle medical emergencies
- The WHO assistant director praised Kuwait's efforts toward saving lives during global crises, which align with the country’s commitment to the UN Charter
Business
Qatar partners with African Civil Aviation Commission to boost cooperation
Nairobi, Kenya--African Civil Aviation Commission (AFCAC) and Qatar have signed a partnership agreement to strengthen cooperation in the aviation field....
- Mohamed Faleh Al Hajri, in charge of Civil Aviation Authority, represented Qatar at the 8th Africa and Indian Ocean (AFI) Aviation Week, holding bilateral meetings
- He highlighted Qatar Airways' role in connecting Africa with the world, saying that the national carrier operates more than 185 flights per week, linking Africa with Qatar
Business
UAE stocks generate strong cash flows as IHC stands out
Abu Dhabi, UAE--UAE stocks generated strong cash flows on Monday as the International Holding Company (IHC) maintained robust performance and...
- Hit by the low performance of the banking and financial service index, which fell 0.152%, Abu Dhabi's Index FADGI closed 0.248% down at 9,776.340 points
- Among the best performers were the Union Properties Company, closing 6.960% higher at AED0.415, followed by the Emirates Reem Investments, closing at AED4.280
Economy
CBUAE foreign assets inch up to US$161.22bn in June
Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) has revealed that its total foreign assets increased to...
- According to the apex bank, foreign securities were down to $45 billion from $46.56 billion at the end of June,, with other foreign assets up to $17.27 billion
- The monetary base, according to the CBUAE, grew by 0.1%, climbing from $169.20 billion at the end of May 2023 to $169.42 billion at the end of June 2023
Economy
Arab Parliament endorses call to support victims of terrorism
Cairo, Egypt-- Arab Parliament on Monday endorsed the call for victims of terrorism in the Arab world to be supported...
- The parliament said the victims of terrorism in the Arab world must be supported with money to overcome their tragedies
- The parliament expressed solidarity to coincide with the International Day of Remembrance and Tribute to the Victims of Terrorism
Geostrategy
Jordan scuttles attempt to smuggle drugs from Syria
Amman, Jordan--Jordanian security forces have scuttled an attempt to smuggle narcotics from Syrian territories to Jordan. According to the Jordan...
- The kingdom's border guards swooped down on the border to foil a concerted attempt to smuggle captagon pills and hashish into Jordan
- Confiscating the big haul of drugs, the kingdom said it would respond with full force to any threats to its borders, security and stability
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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...
Economy
Google to invest US$1bn in UK data centre
It will meet growing demand for internet services in the region.
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...
Business
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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...
- 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
Business
Sharjah Chamber discusses collaboration with AAAID on trade, investment
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) has held discussions with the Arab Authority for Agricultural Investment and...
- The discussions centered upon supporting business community and developing the agricultural sector and fostering trade and investment
- The two sides discussed initiatives in creating a conducive business environment for innovation and investment in the agricultural sector