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
Arab League organizes workshop to discuss BRICS role in MENA region
Cairo, Egypt--The Arab League (AL) on Sunday organized a workshop in Cairo to discuss the role of BRICS for African...
Economy
RAKEZ entices Indian investors with ‘lucrative’ business prospects
Ras Al Khaimah, UAE-- Looking to boost economic cooperation and convince businesses across India to invest in the free zone,...
- RAKEZ's team met with many business chambers, industry associations, such as the Bombay Industries Association, Federation of Indian Export Organization
- Its CEO Ramy Jallad noted with satisfaction the overwhelming response from businesses and startup founders, which showed their high level of interest in Middle East
Business
Tawuniya Q1 2023 net profit $20m
Insurance services results in Q1 improved by US$55 million.
- The growth in revenues were offset by an increase in claims incurred and attributable expenses by US$172 million.
- Tawuniya booked additional risk adjustments of US$10 million in Q1 2023 and additional acquisition costs of US$18 million.
Economy
At UN, UAE plays up link between climate change and peace
Exhorting the Security Council to adopt what she called as innovative attempts to address the interplay between climate change, peace...
- The minister exhorted the council to approach conflicts through a climate-sensitive lens, strengthening the capacity of relevant peace operations
- Chairing presidency of the UN Security Council for June, the UAE held the debate under the title "threats to international peace and security"
Economy
High oil prices fuel Saudi Arabia’s economy as GDP grows to 8.7% in 2022
Riyadh, Saudi Arabia-- Saudi Arabia has recorded an 8.7 percent increase in gross domestic product (GDP) in 2022, as against...
- The kingdom's growth was driven by oil, which contributed 15.4 percent to the overall GDP growth, while non-oil activities also made a positive contribution of 5.4%
- In 2023, stable commodity and food prices are expected to limit upward pressure on imported goods as the dollar continues to gain strength
Economy
Qatar and Iran look to boost monetary, banking ties to propel trade
Tehran, Iran--Qatar and Iran are looking to boost monetary and banking cooperation that would propel all-round development of trade between...
- The establishment of monetary and banking relations between Doha and Tehran will drive the volume of trade between the two countries significantly
- Referring to Tehran-Doha joint cooperation, Qatar's central bank governor said that there are many opportunities to increase trade between Qatar and Iran
Business
Dubai Airshow 2023 to show off latest trends in aerial mobility
Dubai, UAE-- Dubai Airshow 2023 will show off the latest trends in the advanced aerial mobility (AAM) market as disruptive...
- The airshow in Dubai will lure global industry players and thought leaders from across aerospace, space and defense later this year to showcase the latest innovative solutions
- Participants at the airshow will have the chance to look up a host of aerial transport solutions, including drones, UAVs, UAMs and eVTOLs, at the brand new AAM pavilion
Economy
UAE consul general visits Albany to foster deeper economic, cultural ties
Albany, New York-- The UAE has reiterated its resolve to strengthen economic and cultural ties with New York and the...
- UAE's Consul General in New York Amna Binzaal Almheiri reiterated the country's resolve to enhancing ties with the US and New York in trade and culture
- In her discussions with trade and cultural bodies, focus was on the partnerships established between the two countries and ways to ramp up joint cooperation
Economy
UAE aims to drive sustainable development with its new policy on energy market
Dubai, UAE-- The UAE has set its sights on regulating the energy providers market as a step toward developing the...
- The new policy looks to increase investments in the energy sector, modern technologies that will provide long-term economic and environmental benefits
- The minister emphasized the policy's role in bolstering the UAE's sustainability solutions to drive climate change mitigation efforts and enable integration between stakeholders
Economy
Saudi Arabia climbs to 13th rank on IATA air connectivity index
Riyadh, Saudi Arabia-- Saudi Arabia vaults to the 13th position on the air connectivity index of the International Air Transport...
- The kingdom rose by 14 places in the ranking that includes more than 200 countries, and it clocked highest connectivity level by linking up 131 destinations
- Saudi Arabia has recorded 42 percent growth in the number of passengers during the first four months of 2023 as against the same period last year
Economy
UAE’s MoHRE extends deadline for companies to meet Emiratisation targets
Dubai, UAE-- The UAE'S Ministry of Human Resources and Emiratisation (MoHRE) has extended the deadline for private sector to hire...
- The ministry said the decision to give companies more time to reach their targets to hire Emiratis was taken by taking into account the Eid holidays
- MoHRE has warned companies in the private sector that non-compliance with the decision will invite a fine of AED42,000 for each Emirati not employed
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
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Qatar’s customs and tax departments link up e-services to ‘facilitate’ business
Doha, Qatar--The General Authority of Customs and the General Tax Authority have announced the launch of the interconnection between their...
Business
Qatar expects a decrease in inflation next year
Doha, Qatar-- Inflation in Qatar is expected to fall in 2024, according to Ali bin Ahmed Al Kuwari, the Minister...
Economy
UAE, Mauritius conclude CEPA talks, set to boost trade
The CEPA will cover trade in goods and services, investment facilitation amongst others. Once implemented, it will accelerate robust growth...
Business
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Business
Aldar ties up with Yellow Door Energy
They will supply solar power to 45 properties in the UAE.
- As part of Aldar's Net Zero Plan, the switch to solar power will prioritise on-site clean energy generation
- Starting in 2024, the transition to solar will reduce 23,000 tonnes of CO2 emissions in its first year
Business
UAE, South Korea look to deepen collaboration in water sector
Dubai, UAE-- The UAE and South Korea Korea are looking to boost ties in the water sector and in this...
- The joint committee will seek to ramp up bilateral cooperation in the water sector, taking into account global changes and serving the best interest of both nations.
- The Korean delegation was also apprised of the Water Security Strategy 2036 that aims to reduce the loss in the water network, decrease total demand for water resources by 21%
Business
Kings Aluminium starts building US$204m facility in KEZAD
Abu Dhabi, UAE-- Kings Aluminium Industries has begun constructing a state-of-the-art aluminium manufacturing and recycling facility in Khalifa Economic Zones...
- The aluminium factory spread across 100,000 square metres of land leased from KEZAD Group will source its raw material from Emirates Global Aluminium
- The facility will localise the manufacturing, utilise local raw materials, enhance environmental as well as sustainability aspects in the production process