MENA brief Jun 11: Umrah returns, ADGM surges, Abu Dhabi property market up
China has extended visa-free entry for up to 30 days to citizens of Saudi Arabia, Oman, Kuwait, and Bahrain—boosting bilateral...
Geostrategy
New WEF report reveals how tech convergence will reshape industries
Geneva, Switzerland – The World Economic Forum today released a new report examining how emerging technology combinations are reshaping industries...
Geostrategy
Geostrategy
UAE, Indonesian Presidents to enhance bilateral relations
SOLO, INDONESIA - President Sheikh Mohamed bin Zayed Al Nahyan and President Joko Widodo of Indonesia held talks aimed at...
- The meeting came as part of the UAE President's working visit to Indonesia to participate in the G20 Leaders' Summit.
- The two Presidents exchanged views on several regional and international issues of common concern.
Economy
Etihad Credit Insurance issues $1.71 bn in trade guarantees in nine months
Dubai, UAE---Etihad Credit Insurance (ECI) has issued AED6.3 billion ($1.71 billion) in trade guarantees in the first nine months of...
- ECI's third meeting this year was told that with government's support, ECI has by far issued 7,936 revolving credit guarantees.
- These state-backed guarantees helped to protect and create 50,000 jobs by supporting companies, 72 percent of which were SMEs.
Business
TAQA posts 53% income rise
The income vaulted to $1.77bn in the first nine months of 2022.
- The company also reported group revenues of $10.61 billion, 14% higher than the prior-year period
- TAQA’s Board of Directors also declared an interim cash dividend of $184 million (0.60 fils per share)
Economy
Addressing climate change global responsibility
"Today's world is witnessing a scientific and technical boom, which is the fastest and most advanced through all the stages...
- Parliaments play a key role in enacting, legislating, or amending laws related to investment and the national transition to renewable energy sources
- Facing the phenomenon of climate change is no longer confined to one country over another, but is a duty and shared responsibility that the entire world
Business
UAE to launch feature-rich, faster EmaraTax platform on Dec.5
Abu Dhabi, UAE --UAE's Federal Tax Authority said Sunday it will launch EmaraTax platform on Dec.5, 2022. The migration to...
- Migration to EmaraTax will begin from end of 30 Nov. and it will be available for use from 5 Dec.
- EmaraTax significantly enhances taxpayer access to the FTA’s services, payment of taxes and obtaining refunds.
Science
Sustainable food cold chains reduce waste, fight climate change, says UN report
Greater investment in sustainable food cold chains is needed to reduce hunger, provide livelihoods to communities and adapt to climate...
- These systems are critical to maintaining the quality, nutritional value and safety of food.
- An estimated 14 percent of all food produced for human consumption is lost before it even reaches consumers.
Videos
Post-Covid UAE real estate upswing to continue
A high number of residential and commercial units delivered in 2022 means tenant retention will become more critical, and rental...
- In a report, real estate advisory firm JLL said that the residential sector was the highest performer “within construction asset awards”.
- The influx of high net worth individuals to the UAE, especially Dubai, and Golden Visa have also boosted the real estate market.
Geostrategy
G20 health, finance ministers agree to launch US$1.4bn pandemic fund
The G20 health ministers have agreed to establish a pandemic fund.
- The fund will be commonly used to fix the health system and close the budget gap for the following five years.
- Up to 20 donor countries and three philanthropists have expressed willingness to contribute to the effort to raise "pandemic fund" totaling US$1.4 billion.
Science
COP27 focuses on ways and means to feed 8 billion people
The adaptation and agriculture thematic day at COP27 focused on how the world will feed eight billion people.
- A series of sessions and initiatives shed light on pathways forward on adaptation and climate resilient agriculture.
- The focus comes at a particularly challenging year for food security.
Business
Invictus 9M net profit $105m
The firm reported a 125 percent increase in its revenues.
- The company attributed the results to “a continual focus on geographical location expansion, and a sustained rise in trade volume and revenues across all product lines”.
- This year, the company introduced fertilizers which added over AED 140 million to revenues.
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MENA brief Jun 11: Umrah returns, ADGM surges, Abu Dhabi property market up
China has extended visa-free entry for up to 30 days to citizens of Saudi Arabia, Oman, Kuwait, and Bahrain—boosting bilateral...
Geostrategy
Company News
stc Group posts 9-month revenue
Business
Arab Bank posts net profit
Business
Latest News
PIF, Pirelli establish a JV
Business
Ghitha Holding Q3 profit of $33m
Business
TAQA, GS Inima and EWEC seal deal
Abu Dhabi's Shuweihat 4 desalination project secures $444 million.
Business
UN adopts Qatar-sponsored resolution on human rights training center
New York, USA - The UN General Assembly (UNGA) adopted a resolution by 185 votes on 'The UN Human Rights...
Geostrategy
Sharjah’s ‘Mleiha’ and ‘Al Dhaid’ added to Islamic World Heritage
Sharjah, UAE - The Islamic World Heritage Committee of the Islamic World Educational, Scientific and Cultural Organization (ISESCO) added the...
Arts & Culture
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Business
BCI’s subsidiary secures US$100m loan from SIDF
RIYADH, SAUDI ARABIA - Basic Chemical Industries Co.'s (BCI) subsidiary Chemical Marketing and Distribution Co. Ltd. secured a loan from the Saudi...
- The US$100 million loan has a duration of seven years and three months starting from October 8, 2025.
- BCI mortgaged all fixed assets of the project as guarantees for financing, in addition to a corporate guarantee.
Geostrategy
UAE, Kazakhstan sign MoU to combat financial crimes
ASTANA, KAZAKHSTAN – UAE and the Republic of Kazakhstan signed an agreement to enhance bilateral cooperation in the combating of...
- The MoU aims to increase cooperation in combating money laundering, terrorism financing and proliferation financing.
- It will focus on four key areas: virtual assets, public-private partnership, education and capacity building, and asset recovery.
Geostrategy
NCSC seeks to regulate Jordan’s cybersecurity market
AMMAN, JORDAN - National Cyber Security Center (NCSC) seeks to regulate the Kingdom's cybersecurity market by outlining and endorsing the...
- One of the NCSC's key measures focuses on issuing Cybersecurity Services Licensing System, its director said.
- This would "effectively" contribute to strengthening and supporting Jordanian companies to enter the cybersecurity market.