UAE, Germany launch joint business council to strengthen economic ties
Berlin, Germany - Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Special Envoy to the...
Economy
Airlines suspend or reduce flights in Middle East after Iran strikes
British Airways cancelled flights between London's Heathrow Airport and Dubai and Doha on Sunday following the US strikes on Iran....
Geostrategy
Geostrategy
Gunmen kill 9 in two separate shootings in protest-hit Iran cities
Tehran, Iran— Assailants on motorbikes shot dead nine people, including a woman and two children, during protests in two separate attacks...
- A senior judicial official in Khuzestan province said that three suspects were arrested and the hunt was on for others after first attack on protesters and security forces in Izeh
- It is the second attack that the Iranian authorities have blamed on "terrorists" since nationwide protests flared over Amini's death
Business
HSBC Oman, Sohar International Bank decide to merge
The banks said in two separate regulatory announcements that all assets and liabilities of HSBC Oman will be transferred to...
- The banks said in two separate regulatory announcements that all assets and liabilities of HSBC Oman will be transferred to Sohar International
- Earlier in 2012 HSBC Bank Middle East’s operations in Oman merged with Oman International Bank to create a HSBC Bank Oman
Business
Etihad Airways preps for tourists
It is expecting 1.5m travelers at Abu Dhabi International Airport.
- The travelers to Abu Dhabi can experience events like Formula 1 Etihad Airways Abu Dhabi Grand Prix this weekend and many more attractions over the winter season
- The airport service will provide a faster check-in experience and can accommodate a greater number of guests, without them having to stand in queues
Economy
Israel’s Q3 growth slows due to weaker consumer spending
The gross domestic product increased 2.1 percent annually between July and September compared to the previous three months.
- The gross domestic product increased 2.1 percent annually between July and September compared to the previous three months
- The annual inflation rose to 5.1 percent in October from 4.6 percent in September, well above an official 1-3 percent target, the statistics bureau said on Tuesday
Business
Masdar-led consortium to develop 4 GW green hydrogen projects in Egypt
Egypt enjoys abundant solar and wind resources that can allow for the generation of renewable power at a competitive cost.
- Egypt enjoys abundant solar and wind resources that can allow for the generation of renewable power at a competitive cost
- Egyptian authorities are reportedly working to revise the country’s renewable energy strategy to include green hydrogen
Business
QatarEnergy, Chevron Phillips to build US$8.5bn Texas plastic plant
Doha, Qatar— QatarEnergy and Chevron Phillips Chemical (CPChem) have announced they have reached a final investment decision to build an...
- The plant will include an ethylene cracker unit with a capacity of 2.08 million tons per annum, making it the largest in the world
- It will be owned by Golden Triangle Polymers Company LLC, a joint venture in which QatarEnergy holds a 49 percent equity interest with 51 percent held by CPChem
Business
Floating success: Marine industry helps Qatar cruise towards economic diversification at a greater pace
The floating hotel "MSC World Europa", which arrived at Doha Port last week, is one of three floating hotels designated...
- The marine industry is very important to tourism and the long term economic and cultural connections it brings, says Akbar Al Baker, head of Qatar Tourism and Qatar Airways Group
- Qatar has taken significant steps to consolidate its position as a world-class destination for cruise tourism and the Arabian Gulf is an important gateway for it, adds Al Baker
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.
UAE, Germany launch joint business council to strengthen economic ties
Berlin, Germany - Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Special Envoy to the...
Economy
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Najran extends MoU with Ayan for Commerce & Industry
Jeddah, Saudi Arabia - Saudi Arabia's Najran Cement Company has announced the extension of its non-binding memorandum of understanding (MoU)...
Economy
Iranian warship enters Red Sea, reports media
TEHRAN, IRAN - Iran's Alborz warship has entered the Red Sea through the strategic Bab al-Mandeb strait, Tasnim news agency reported...
Geostrategy
Maisarah leads Oman government’s successful sukuk issuance
MUSCAT, OMAN - Maisarah Islamic Banking Services, Islamic window of BankDhofar, acted as an Issue Manager for the Sovereign Sukuk...
Business
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Business
45 percent of Saudi employees work over 40 hours per week
Riyadh, Saudi Arabia -- Nearly 45.8 percent of employees in Saudi Arabia work more than 40 hours per week and...
- Figures also show that 46.6 percent of employees have received training on health and safety procedures, and 48.7 percent have health and safety departments in their workplace.
- Data also shows that 7.8 percent of employees deal directly or indirectly with chemicals, medical waste, radioactive materials or toxic gases.
Geostrategy
Egypt leads Arab world in population with 113m citizens
DUBAI, UAE – Egypt stands as the most populous Arab country with 113 million people, marking it the 14th largest...
- Iran and Turkey, with populations of 89 million and 86 million respectively, demonstrate substantial numbers in the Middle East region.
- The data, highlighting population sizes of various countries worldwide, pointed out that the global population has reached 8.082 billion.
Business
Sharjah Consultative Council okays emirate’s draft budget 2024
Sharjah, UAE - The Sharjah Consultative Council approved the draft law regarding the budget of departments and entities of the...
- The draft was presented to the council by Sheikh Mohammed bin Saud Al Qasimi, Head of the Sharjah Finance Department for a final review and approval
- After a final review, the council approved the draft law regarding the 2024 general budget for the Sharjah Government departments