MENA Brief – June 16: Netanyahu eyes Gaza breakthrough, Iran rejects talks, Trump at G7, UAE oil giant bids big
Israeli Prime Minister Benjamin Netanyahu says there’s a fresh opening to free hostages held in Gaza, backing a US-mediated proposal...
Economy
Key MENA trends: M&A surge to five-year high, Saudi port activity rises in May
Qatar's foreign reserves rise 3.6 percent year-on-year despite a dip in bonds and treasury holdings, Iraq releases Australian and Egyptian...
Economy
Economy
GCC growth may slow down in 2023 and 2024
The regional economies -- set to expand by 6.9 percent in 2022 -- may moderate to 3.7 percent and 2.4...
- The regional economies -- set to expand by 6.9 percent in 2022 -- may moderate to 3.7 percent and 2.4 percent in 2023 and 2024 respectively, says a World Bank report
- Easing of pandemic restrictions and positive developments in the hydrocarbon market drove strong recoveries in 2021 and 2022 across the GCC, the report points out
Business
ADIB, ADGM to support growth needs of Abu Dhabi financial community
Abu Dhabi, UAE -- Abu Dhabi Islamic bank (ADIB) and Abu Dhabi Global Market (ADGM) will collaborate to support the...
- ADIB will provide clients with ADGM licensed managers for Sharia compliant banking and share news on developments in finance sector.
- Also, a formal framework for cooperation in education, business development between the Bank and ADGM is also a part of the deal.
Business
Masar, BTC Network sign agreement for info center, infrastructure
Makkah, Saudi Arabia---Umm Al-Qura for Development and Construction, owner and developer of Masar, the SR100-billion ($26 billion) destination in Makkah,...
- Masar, the SR100-billion ($26 billion) destination in Makkah, aims to enhance the quality of life of the residents and visitors of the Holy city.
- BTC Networks has three decades of experience that will support Masar’s smart infrastructure, in line with the Kingdom’s Vision 2030 goals.
Business
QatarEnergy, Qatargas celebrate loading of 30,000th ship from Ras Laffan
Doha, Qatar---Qatar’s state-owned QatarEnergy and Qatargas, the world's largest liquefied natural gas (LNG) company, celebrated the loading of the 30,000th...
- The LNG cargo was loaded on board the Qatargas-chartered Q-Max LNG carrier "Mekaines."
- Qatargas Terminals are entrusted to handle approximately three million barrels of oil equivalent of both LNG and non-LNG products every single day.
Business
FSRA grants Binance permission to provide crypto custody services
Abu Dhabi, UAE---Binance, world's biggest cryptocurrency exchange, announced that it has received a Financial Services Permission (FSP) from the Financial...
- Binance received a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM).
- ADGM, the International Financial Centre in the capital of the UAE, introduced the world’s first comprehensive and robust virtual asset regulatory framework in 2018.
Business
Arada to participate in Gulf’s largest real estate show, Cityscape Dubai
Arada will showcase its existing projects, Aljada and Masaar, as well as announce new expansion plans that cater to the...
- Arada will showcase its existing projects, Aljada and Masaar, as well as announce new expansion plans that cater to the strong investor demand for property in the UAE
- Arada has so far launched three master-planned communities with a total value of AED 33 billion, making it the largest developer in Sharjah
Science
Kuwait sets 2060 as date to reach carbon neutrality
Sharm el Sheikh, Egypt—Kuwait is planning to achieve carbon neutrality in the oil and gas sector by 2050 and across...
- According to Kuwait's Environment Public Authority chief, Kuwait intends to embrace a national strategy to achieve the target
- The chief said the country is also keen to develop program to reduce carbon emissions through low-carbon development strategies in the oil and gas, energy, transport, industry
Economy
UAE Cabinet approves penalties for flouting Nafis initiatives, programmes
Launched as part of 'Projects of the 50', the program aims to accelerate the UAE's development journey and boost the...
- Launched as part of 'Projects of the 50', the program aims to accelerate the UAE's development journey and boost the economy
- If an establishment undertakes fake Emiratisation, a fine of no less than AED20,000 and not more than AED100,000 for each Emirati employee will be imposed
Business
Abu Dhabi launches association to promote blockchain in region in line with TOP CEO Conference call in May
The Middle East, Africa and Asia Crypto and Blockchain Association aims to bring industry players together to discuss strategies and...
- The Middle East, Africa and Asia Crypto and Blockchain Association aims to bring industry players together to discuss strategies and address the challenges faced by the sector
- Experts at the TOP CEO Conference and Awards held in May 2022 had called for entities such as MEAACBA to inform the masses and develop an ecosystem for blockchain and cryptos
Business
MSC World Europa, 22-deck cruise ship, docks at Doha for World Cup
Doha, Qatar—The 22-deck cruise ship MSC World Europa (floating hotel) has docked at Doha Port for FIFA World Cup fans...
- The cruise ship, designed with the highest standards of security and safety, can accomodate 6,700 World Cup fans
- The ship offers 7 swimming pools, 13 whirlpools, and the most luxurious yacht club, which includes public spaces, outdoor areas and new suites
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
MENA Brief – June 16: Netanyahu eyes Gaza breakthrough, Iran rejects talks, Trump at G7, UAE oil giant bids big
Israeli Prime Minister Benjamin Netanyahu says there’s a fresh opening to free hostages held in Gaza, backing a US-mediated proposal...
Economy
Company News
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Ducab, Somagec ink MoU
Business
stc, Microsoft to collaborate
Business
Human Rights Monitor submits documents on Gaza executions to UN
GENEVA, SWITZERLAND - The Euro-Mediterranean Human Rights Monitor documented, in a preliminary file submitted to UN special rapporteurs and the...
Geostrategy
Makkah, Morocco’s Beni Mellal-Khenifra Chambers of Commerce ink pact
MAKKAH, SAUDI ARABIA - The Makkah Chamber of Commerce and Industry and the Chamber of Commerce, Industry, and Services of...
Business
Most Read
Economy
ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...
- The collaboration supports Abu Dhabi Industrial Strategy's vision to establish the Emirate as the most competitive industrial hub in the region.
- Siemens Energy will support IDB to localize the manufacturing capabilities in Abu Dhabi and provide technological solutions.
Geostrategy
FTA issues guide to determine natural persons subject to corporate tax
ABU DHABI, UAE - The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural...
- The guide provides a comprehensive and simplified explanation and instructions for natural persons earning in the UAE.
- The FTA emphasized the importance of understanding the comprehensive content and definitions outlined in the guide.
Geostrategy
136 UN employees killed in Gaza War, says UN chief
NEW YORK, US - UN Secretary-General Antonio Guterres said on Sunday that 136 United Nations employees in Gaza Strip had...
- The UN chief said that the Israeli military offensive was creating 'massive obstacles' to the distribution of humanitarian aid inside Gaza.
- The United Nations Security Council had adopted a resolution calling for boosting humanitarian assistance for Gaza Strip.