Iran and Russia to sign new contracts to develop oil, gas fields
Tehran, Iran-- Iran and Russia have agreed to sign new contracts on developing oil and gas fields, according to the...
Economy
Business
Milaha posts marginal profit in H1
Its net profit jumped 1.1 percent to US$178 million.
- Its earnings per share (EPS) amounted to QR 0.57 as of 30th June 2023 as against earnings per share (EPS) of QR 0.56 for the same period in 2022
- The company's net profit in 2022 climbed to $278 million in comparison to a net profit of $199 million for the same period of the previous year
Business
Oman’s natural gas production climbs up 2.3 percent at June end
Muscat, Oman-- Oman's total domestic production of natural gas shot up 2.3 percent to 26.19 billion cubic meters (CBM) until...
- According to the National Center for Statistics and Information (NCSI), industrial projects accounted for 58.7 percent of the natural gas use at 15.39 billion cubic meters
- Data showed that the total use of natural gas for oil fields amounted to 6.76 billion cubic meters, power plants at 3.89 and industrial areas at 131.50 million cubic meters
Geostrategy
Saudi-hosted talks on Ukraine war end with resolve to continue efforts for peace
Jeddah, Saudi Arabia-- More than 40 representatives of countries from around the world gathered in Jeddah, pledging to continue holding...
- More than 40 representatives of countries from around the world agreed on the importance of contuining consultations that could pave way for peace in Ukraine
- The Jeddah talks were part of the effort initiated by the Crown Prince, Prime Minister Mohammad bin Salman bin Abdulaziz Al-Saud since March 2022 to resolve the conflict
Business
To boost tourism, Saudi Arabia expands visitor e-visa to eight more countries
Riyadh, Saudi Arabia-- Looking to boost leisure, business and religious travel to the kingdom, Saudi Arabia will grant visitor e-visa...
- The kingdom's visitor e-visa is valid for an entire year, grants multiple entries, and permits a stay of up to 90 days
- The oil-rich country has seen rapid growth in tourism due to its visa initiatives, which now include 57 nations
Business
Jordan-Egypt trade expands to US$355.43m in first five months of 2023
Amman, Jordan--Trade between Jordan and Egypt expanded to $355.43 million in the January-May period of the current year, according to...
- The exports to Egypt however showed a decline in the five month period, falling to $63.46 million as against $93 million for the same period last year
- There was a fall in the imports from Egypt to Jordan too, declining to $292 million by the end of May, as compared to $333 million last year
Business
Saudi Fund signs US$77m agreement to set up solar power plant in Belize
Riyadh, Saudi Arabia-- Saudi Arabia has signed a $77 million loan agreement with Belize to set up a solar power...
- The agreement was signed by the CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, and the Prime Minister of Belize, John Antonio Briceño
- The agreement aims to build a 60-megawatt solar power plant, complete with the supply and equipment of solar panels, to reduce emissions in the energy sector
Economy
Oman annual inflation inches up to 0.69 percent in June
Muscat, Oman--Oman annual inflation rate reached 0.69 percent by the end of June 2023, according to the monthly consumer price...
- Inflation was fueled by the increase in most of the main groups making up the consumer price index and the prices of the food and non-alcoholic beverages
- The prices of oils and fats rose by 4. 81%, fruits by 4.3%, other foodstuffs by 3.91%, bread and cereals by 2.34%, and non-alcoholic beverages by 0.67%
Business
UAE supplies 25.63 million barrels of crude oil to Japan in June
Tokyo, Japan--Japan's crude oil imports from the United Arab Emirates amounted to 25.63 million barrels in June 2023, or 37.4...
- In the month of June, Japan's crude oil imports touched 68.5 million barrels, of which 66.7 million were provided by the UAE, Saudi Arabia and other countries
- At least 41.4 percent of total imports in June came from Saudi Arabia, making the kingdom and the UAE the top oil providers of more than three-quarters of Japan's needs
Economy
CEPA signed with UAE is a special achievement: Indian minister
New Delhi, India--The Comprehensive Economic Partnership Agreement (CEPA) signed with the UAE and operationalized last year is a “special achievement...
- The Indian minister was responding to a question by a member of parliament about whether "there are some special achievements of India's foreign policy"
- He added that there is a greater integration of the Indian economy with regional and global economies, contributing to a deeper and extensive trade partnerships
Business
Bahrain pledges to protect consumer rights in e-commerce sector
Manama, Bahrain-- Looking to develop the e-commerce sector in the kingdom, Bahrain's Ministry of Industry and Commerce has published a...
- The ministry is monitoring e-commerce platforms and commercial activities in order to ensure that consumer interests are protected
- The survey is designed to boost communication with consumers, receive complaints and observations, and develop policies and laws accordingly
Company News
Saudi EVIQ unveils R&D facility
Business
Latest News
Nissan to export EVs globally
Business
Sharjah, Sfax chambers look to boost ties between UAE and Tunisia
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and the Chamber of Commerce and Industry of Sfax, Tunisia, held...
Business
UAE and Costa Rica conclude talks on signing CEPA
Dubai, UAE-- The UAE and Costa Rica have concluded negotiations to sign a comprehensive economic partnership agreement.In this connection, Dr....
Business
Federal Tax Authority, Etihad Credit Bureau tie up to boost tax compliance
Dubai, UAE--The Federal Tax Authority (FTA) has signed an agreement with Etihad Credit Bureau to enhance tax compliance in the...
Business
Most Read
Business
DP World signs MoUs in India
The agreements worth US$3bn were signed with Gujarat.
- The agreements would result in the development of new ports, terminals, and economic zones in the western Indian state
- DP World CEO said that during the last 20 years, the company has invested almost $2.5bn and "we are going to invest more"
Business
Global air travel reaches 99% of 2019 levels: IATA
IATA’s Director-General Willie Walsh said that international travel is 5.5% below pre-pandemic levels, but that gap is narrowing fast. "And...
- In November 2023, the total traffic rose 29.7 percent compared to November 2022
- Middle Eastern airlines saw an 18.6 percent traffic rise in November
Business
UAE and India sign MoUs to deepen ties in renewable energy, healthcare
Abu Dhabi, UAE--The UAE Ministry of Investment has signed three memorandums of understanding (MoUs) with India, setting out frameworks for...
- Trade between the UAE and India touched $84.5 billion between April 2022 and March 2023, and is expected to reach $100 billion by 2027
- The MoU in the renewable energy focuses on forging effective collaboration by building relationships between public and private organizations