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...
China pledges to ‘work with all’ for results at Abu Dhabi WTO conference
Abu Dhabi, UAE--China is willing to work with all parties to achieve more pragmatic results at the 13th Ministerial Conference...
Economy
Business
UAE and Cambodia to ramp up bilateral trade to US$1bn in five years
Phnom Penh, Cambodia-- The UAE and Cambodia have agreed to boost economic ties, expanding the bilateral non-oil trade from the...
- The two sides agreed that the Comprehensive Economic Partnership Agreement signed during the visit was the best means of achieving the economic ambitions
- The UAE side explored opportunities to enter into partnerships with business executives from Cambodia's fast developing sectors like apparel and fintech
Geostrategy
UAE and Japan look to boost ‘strategic’ relations with focus on energy
Tokyo, Japan-- The UAE and Japan have discussed ways to strengthen the strategic partnership with a sharp focus on the...
- The UAE's Foreign Minister Sheikh Abdullah bin Zayed met with Japan's Prime Minister Fumio Kishida in Japan and discussed ways to boost strategic partnership
- The foreign minister pointed to the "pioneering example of strategic cooperation" that has gone on for more than 50 years between the two nations
Economy
UAE bank investments touch record high at US$149.35bn in March
Abu Dhabi, UAE--UAE's bank investments climbed to a record level, touching $149.35 billion by the end of March, the highest...
- According to CBUAE, the investments showed a year-on-year growth of 16 percent as against $129 billion in March 2022
- The stock investments hit $3.26 billion in March, a jump of nearly 0.8 percent from around $3.21 billion in December 2022
Business
ADNOC L&S secures big contract
It won US$975mn artificial island construction contract.
- The company, a fully integrated energy logistics services provider, sees the contract a big milestone in its strategy to pursue new growth opportunities
- The company CEO said that the construction of artificial island "G" illustrates ADNOC L&S strategy to tap into new growth areas, exemplifying its range of services
Economy
Sharjah and Uzbekistan explore investments in tourism, education sectors
Sharjah, UAE-- Sharjah and Uzbekistan are looking to ramp up cooperation in trade and pour investments in sectors such as...
- The meeting between the two sides explored prospects for cooperation in trade and investment in key sectors like education, research and tourism
- Sheikh Majid Al Qassimi, director of DGR, said that ties between Sharjah and Uzbekistan open the window for both parties to broaden the scope of our partnerships
Economy
Saudi Arabia and Oman launch ‘joint tourist visa’ to boost industry
Riyadh, Saudi Arabia--Saudi Arabia and Oman have launched a joint tourist visa to boost trade and investment cooperation in tourism-related...
- The initiative to launch joint tourist visa and enhance cooperation in the sector was reached in a meeting between Saudi Arabia's tourism minister and his Omani counterpart
- Both will train and develop human capital in the tourism sector corresponding with the Gulf Tourism Strategy, which was formulated last November by leaders of the GCC countries
Economy
Dubai Customs and New Zealand discuss boosting trade ties
Dubai, UAE-- Aiming to boost trade and economic cooperation with New Zealand, Dubai Customs held a meeting with diplomats and...
- The meeting highlighted Dubai Customs' eagerness to boosting cooperation with trade partners and exploring the future of the business sector amid Dubai's economic resurgence
- New Zealand ambassador to the UAE noted the efforts of Dubai Customs in bolstering international trade and boosting trade relations between Dubai and New Zealand
Economy
Wealthy Qataris to spend more on real-estate deals this year: survey
Doha, Qatar-- Rich Qataris are pouring millions of dollars into the country's luxury real-estate market, with residential sector and office...
- Knight Frank, in partnership with YouGov, looked into the investment pattern of rich individuals in Qatar, with a net worth in the region of US$155 million
- The respondents in the survey showed a preference for investment in the residential sector at 37 percent, followed by the office sector at 33 percent
Economy
Abu Dhabi curbs use of plastic bags by 95% since ban last year
Abu Dhabi, UAE-- Abu Dhabi has succeeded in curbing the use of plastic bags by around 95 percent since the...
- Nearly three years back, EAD brought in the single-use plastic policy with the aim of lowering the dependence on plastic items and promoting sustainability and recycling
- According to EAD, the carbon footprint of the amount of plastic eliminated is equivalent to 272, 000 tonnes of CO2, which means saving emission from 629,000 barrels
Geostrategy
Iran hints at cooperation with Saudi Arabia on ‘peaceful nuclear technologies’
Tehran, Iran-- With the restoration of diplomatic ties between Iran and Saudi Arabia, the talk in government circles in Tehran...
- A media outlet thought to be close to the Iranian security establishment tweeted that Iran could expand its relations with Saudi Arabia to the nuclear realm
- The tweet said that Iran could transfer its "experiences and achievements" to Saudi Arabia in compliance with international laws and under the IAEA supervision
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...
Company News
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Qatar records 6 percent drop in Industrial Production Index in October
Doha, Qatar-- Qatar has recorded a 9.3 percent drop in the Industrial Production index (IPI) in the month of October...
Economy
Qatar Airways and Asian Football Confederation sign partnership deal
Doha, Qatar--Qatar Airways Group and the Asian Football Confederation (AFC) have signed a global partnership set to transform the fan...
Business
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Business
ADQ and Azerbaijan’s AIH set up joint-investment platform
Abu Dhabi, UAE--ADQ, an Abu Dhabi-based investment and holding company, and Azerbaijan Investment Holding (AIH), a strategic sovereign wealth fund...
- The joint-investment platform will leverage investment opportunities with the goal of generating sustainable financial returns on deployed capital
- Both the entities will each hold a 50 percent interest in the joint venture, with each party committing US$500 million to the JV platform
Business
ADCB, EIH sign agreement
ADCB to sell 80 percent stake in ADCP to Nine Yards Plus.
- The transaction values ADCP at US$161 million and ADCB will gain of nearly US$133 million subject to closing conditions before end of December 2023.
- ADCB will retain a 20 percent stake in ADCP post transaction and will continue its partnership via a long-term relationship agreement.
Business
Arab Union for International Exhibitions & Conferences approves 2024 plan
Sharjah, UAE--The board of directors of the Arab Union for International Exhibitions Conferences (AUIEC), operating under the Council of Arab...
- AUIEC plan for next year focuses on attracting new memberships in order to expand its network and active participation in union members' activities and events
- The union is set to organise prominent events like the Arab Industries Exhibition in the UAE and Iraq and the Conference of the Exhibition Industry in the Arab World