China discovers world’s largest metamorphic rock oilfield in Bohai Sea
BEIJING, CHINA – The China National Offshore Oil Corporation (CNOOC) has announced the recent discovery of the largest metamorphic rock...
Business
Bahrain to support ‘Arab tourism’ in order to boost cultural integration
Manama, Bahrain--Bahrain will support Arab tourism in order to enhance social, cultural and historical integration among Arab people, according to...
Economy
Economy
Sharjah Chambers reviews efforts to bolster UAE’s food security
Sharjah, UAE-- Sharjah Chamber of Commerce and Industry (SCCI) has reviewed the UAE efforts to achieve and maintain the food...
- The meeting discussed avenues for boosting exports, and explored strategies to monitor international markets in order to support local production
- The participants highlighted the country's advantageous position, its advanced logistics infrastructure, and strong international trade relations
Economy
Saudi Arabia and Algeria sign agreement to boost ties
Jeddah, Saudi Arabia--Saudi Arabia and Algeria have agreed to expand bilateral relations, boosting ties in all areas. In this regard,...
- Presided over by the ministers, the two sides signed the agreement during the meeting of the fourth session of the Saudi-Algerian Political Consultations Committee
- The two sides discussed enhancement of joint efforts on several issues in order to strengthen stability and prosperity for the two countries and their peoples
Economy
Masdar, Airbus sign deal
They will support growth of the sustainable aviation fuel market.
- The two will work toward collaborating on sustainable aviation fuels (SAF), green hydrogen, and direct air capture technologies
- Direct-air capture together with the use of SAF based on green hydrgoen can bring down greenhouse gas emissions by up to 95%
Business
Central Bank of Bahrain Sukuk Al-Salam securities oversubscribed 197%
Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the Sukuk Al-Salam Islamic securities has been...
- Carrying a maturity period of 91 days, subscriptions worth $225 million were received for the BD 43 million issue
- The issue, which begins on May 17 and matures on August 16, is expected to a give a return of 6.15 percent
Geostrategy
Qatar and Bahrain to restart flights in signs of improving relations
Dubai, UAE-- Qatar and Bahrain have agreed to restart flights toward the end of the month, in a sign of...
- The resumption of flights between the estranged countries, according to Bahrain News Agency, falls within "the framework of the brotherly relations between the two countries
- In recent months, GCC countries have patched up differences with each other and begun to focus on their economies, taking advantage of high oil and gas prices
Business
Iran invites UAE businesses to invest in transportation projects
Abu Dhabi, UAE-- Iran is keen to boost transportation ties with the UAE and has invited investors from the country...
- Mehrdad Bazrpash, Iran Minister of Roads and Urban Development, met with Sheikh Mansour Bin Zayed Al Nahyan, Vice President of the UAE in Abu Dhabi
- The Iranian minister also met with Qatari Minister of Transport Jassim bin Saif bin Ahmed Al Sulaiti and both emphasized the need for expansion of relations
Science
UAE issues decree on use and distribution of hydrofluorocarbons
Dubai, UAE-- The UAE's Ministry of Climate Change and Environment has issued a decree on the use and distribution of...
- Referred to as refrigerant gases responsible for intensifying global warming and depletion of the ozone layer, HFCs are categorized among greenhouse gases
- The UAE has been at the front of attempts to restore the ozone layer's protective capacity since joining the Convention in 1989 and the Protocol in 1990
Economy
Meydan Free Zone-ADIB pact to promote SMEs, sustainability in economy
Abu Dhabi, UAE-- The recent partnership signed between Abu Dhabi Islamic Bank (ADIB) and Meydan Free Zone is expected to...
- The partnership will enable trade license holders in the Meydan Free Zone to access ADIB's range of banking products and services
- Hamed Ahli, head of Meydan Free Zone, said the MoU will drive new financing potential for companies seeking to grow from Dubai
Economy
Jordan’s industrial producer-price index shoots up 2.59% in Q1 of 2023
Amman, Jordan-- Jordan's industrial producer-price index, which generally reflects supply conditions across the economy, climbed up 2.59 percent in the...
- The Department of Statistics attributed the upward trend to a 1.63% jump in the transformative industries price index and a 23.65% rise in the extractive industries price index
- It said the monthly decrease resulted from an 8.86% fall in transformative industries, and an 11.57% drop in electricity, and at the same time extractive industries shot up by 3%
Business
Oman and Etihad Rail Company signs MoU with Vale, Brazilian mining firm
Dubai, UAE-- Oman and Etihad Rail Company, the operator of the UAE-Oman Rail Network, has signed a memorandum of understanding...
- The signing of the agreement between the two will explore the possibility of transportation of iron ore between the UAE and Oman, linking it up with Vale's unit in Sohar Port
- According to Suhail Mohammed al Mazrouei, UAE’s Minister of Energy and Infrastructure, the agreement is in line with the country's desire to set up partnerships with big companies
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China discovers world’s largest metamorphic rock oilfield in Bohai Sea
BEIJING, CHINA – The China National Offshore Oil Corporation (CNOOC) has announced the recent discovery of the largest metamorphic rock...
Business
Company News
DEWA Q3 revenue soars
Business
Aramex Q3 net profit down
Business
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Yahsat net profit up
Business
Agthia Group revenue soars
Business
UAE to tie up with ACSAD to achieve zero neutrality by 2050
Dubai, UAE--The Arab Centre for the Studies of Arid Zones and Dry Lands (ACSAD) will partner with the UAE's Ministry...
COP28 UAE
Bahrain and Germany look to boost cooperation in health sector
Manama, Bahrain-- Bahrain and Germany have held discussions to boost ties in the health field as the two countries seek...
Business
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Business
UAE’s GCAA signs MoUs with Brazil, Switzerland in air-transportation sector
Riyadh, Saudi Arabia--The General Civil Aviation Authority (GCAA) of the UAE signed two memorandums of understanding (MoUs) with Brazil and...
- The MoUs were signed on the sidelines of the UAE delegation's participation in the fifteenth ICAO Air Services Negotiation (ICAN2023),
- The GCAA chief said the UAE is eager to strengthen cooperation in the field of air transportation with various countries around the world
Economy
Saudi Arabian GDP declines by 4.4 percent in Q3 2023
RIYADH, SAUDI ARABIA - Saudi Arabia’s real gross domestic product (GDP) fell by 4.4 percent year-on-year (YoY) in the third...
- The Kingdom’s GDP at constant prices reached US$191 billion (SAR 719.09 billion) in the third quarter of 2023,
- The real seasonally adjusted GDP eased 3.2 percent quarter-on-quarter (QoQ) in the three-month period.
Business
Iran-Russia trade surges 18 percent to US$1.7 billion in 2023
Tehran, Iran--Trade between Iran and Russia has climbed 18 percent to US$1.7 billion in the first eight months of 2023....
- Jumping more than 40 percent up, the weight of trade between Iran and Russia was 3,748 million tons from March to November
- Iran revealed that $616, 326 million worth of goods were exported to Russia, which shows 32% increase compared to the same period last year