Qatar and China entrepreneurs explore partnerships, JVs in tech and energy
Doha, Qatar-- Businessmen and entrepreneurs from Qatar and China have discussed opportunities to set up joint ventures and commercial partnerships...
Economy
Egypt signs several MoUs with global developers in renewable energy
Cairo, Egypt--Egypt has signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global...
Business
Economy
Availability of government sukuks boosts investment options for Islamic banks: Fitch
Doha, Qatar--The increasing availability of government sukuk and Islamic liquidity management tools by the Qatar Central Bank supports liquidity management...
- The ratings agency expects the market share to increase overall in 2023 because of high public demand and strong retail networks
- Fitch believes the launch of treasury sukuk in 2022 is a structural improvement as it adds to Islamic banks' short-term liquidity tools
Geostrategy
International Security Alliance seizes drugs worth US$750mn in global operation
Abu Dhabi, UAE--The International Security Alliance (ISA) has seized narcotics estimated to be worth US$750 million from a large transnational...
- Led by the ISA and Ameripol, the operation saw the participation of 22 countries across the Middle East, Africa, Asia, Europe and Latin America
- Founded in 2017 by the UAE and France, the ISA coordinated the operation from its secretariat in the UAE with the aim of fighting organized crime
Economy
Qatar Chamber signs MoU with Argentina Chamber to boost economic ties
Doha, Qatar-- Qatar and Argentina are looking to bolster ties and in this regard Qatar Chamber of Commerce and Industry...
- The agreement between the two will attempt to enhance and diversify trade exchanges and economic cooperation between the two countries
- Qatar Chamber also reviewed ties with Uganda Chamber of Commerce to design the path for increased coopeation between the two entities
Economy
Qatar and Iran agree to deepen ties in labor sector
Tehran, Iran-- Qatar and Iran have agreed to bolster ties in the labor sector with the aim of raising capacities,...
- The two sides discussed bilateral cooperation in labor affairs, including the adoption of occupational standards and labor inspection in establishments
- Qatar, according to its labor minister, has emerged as a leader in labor market reforms after a series of legislative changes to the country's labor laws
Economy
Top Abu Dhabi firms to attend Europe’s asset and wealth management conference
Abu Dhabi, UAE-- Prominent Abu Dhabi companies are taking part in Impower Fund Forum, the largest asset and wealth management...
- Set to take place in Monte Carlo, Monaco, it is considered to be the largest asset and wealth managment conference in Europe
- The forum will be an opportune platform for Abu Dhabi companies to showcase their accomplishments and engage with industy players
Economy
Qatar takes part in 58th MENA customs regional meeting
Doha, Qatar--Qatar participated in the 58th regional meeting of director general of customs of the North of Africa, near and...
- The meeting of the top officials discussed policy commission, committee membership, and the adoption of the document for the appointment of the techncial attache
- The WCO council reviewed customs work, capacity building, rules of origin, valuation, nomenclature and classification, compliance, and trade facilitation
Economy
EIB to finance Jordan’s upgrade of water-supply system with US$66.52mn
Amman, Jordan--The European Investment Bank (EIB) has approved the provision of $66.52 million for Jordan to upgrade the water supply...
- EIB said the project will improve the quality of drinking water in the area and reduce the loss of water due to leakage from the major water networks
- Late last year, EIB singed a $218 million loan agreement with Jordan to construct a desalination project between Aqaba and Amman, to be completed in 2028
Geostrategy
Future of Iran-UAE relations promising: Reza Ameri
Tehran, Iran-- The future of relations between Iran and the United Arab Emirates is promising and in line with the...
- Reza Ameri, Iran's new ambassador to the UAE, noted progress in relations between the two countries after a period of downturn
- The UAE and Iran have had discussions to cooperate in political, economic, commercial, consular, cultural and scientific fields
Economy
Dubai Customs thwarts 2,600 attempts in last three years to smuggle drugs
Dubai, UAE-- Dubai Customs has scuttled nearly 2,600 attempts during the last three years to smuggle drugs, combating a concerted...
- The traffickers attempted to smuggle 36.76 kilograms of marijuana through the airport, and in another seizure a big haul of 75,000 Captagon tablets was seized
- Dubai Customs has installed a state-of-the-art system at Jebel Ali Customs Center and TECOM allowing for inspection of large vehicles, yachts and containers
Economy
Abu Dhabi approves housing benefits worth US$844mn for 1,807 citizens
Abu Dhabi, UAE-- The emirate of Abu Dhabi has approved the disbursement of housing benefits worth US$844 million to citizens...
- Abu Dhabi Crown Prince Khaled bin Mohamed bin Zayed, and chairman of the Abu Dhabi Executive Council, approved the grant for 1,807 citizens in Abu Dhabi
- Two grants will go toward ready-made housing for low-income individuals worth $272 million, and another for housing loans to citizens worth $571 million
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Qatar and China entrepreneurs explore partnerships, JVs in tech and energy
Doha, Qatar-- Businessmen and entrepreneurs from Qatar and China have discussed opportunities to set up joint ventures and commercial partnerships...
Economy
Company News
Dubai Taxi IPO raises US$315m
Business
Latest News
UAE insurance sector assets rise US$3.1bn in 9M 2023
ABU DHABI, UAE - The UAE insurance sector continues to exhibit robust growth, as evidenced by a 9.6 percent increase...
Business
Abu Dhabi’s non-oil economy expands 7.7 percent in Q3 2023
ABU DHABI, UAE - The Statistics Center - Abu Dhabi (SCAD) has reported a substantial 7.7 percent growth in the...
Economy
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Economy
Bahrain economy posts 2.45% growth in third quarter of 2023
Manama, Bahrain--National accounts estimates issued by the Information eGovernment Authority of the Kingdom of Bahrain showed that the real GDP...
- According to the report, the jump in growth is due to the surge in the non-oil sector by 4.48 percent at constant prices and 4.81% at current prices on an annual basis
- The gross domestic product at constant prices reached $9.15 billion during the third quarter of 2023 compared to $8.79 billion during the same period of 2022.
Business
Empower, ASHRAE form alliance
They partnered to lead global expansion of the cooling sector.
- The talks touched on improving energy efficiency within the cooling and heating sector, underscoring the importance of shared knowledge
- One of the results that came out of the meeting was the agreement to develop a standardized District Cooling Guide applicable in various countries
Business
DEWA awards pipeline contract
The US$3m-contract is for the laying of GRE pipes in Hatta.
- The contract is part of the pumped-storage hydroelectric power plant that DEWA is currently constructing in Hatta, a first of its kind in the GCC
- The CEO of DEWA said the project supports the plan to develop Hatta and address its social, economic and environmental requirements