Deals worth $4.26 billion signed at inaugural Global Logistics Forum
Riyadh, Saudi Arabia -- More than 65 agreements and Memoranda of Understanding worth SAR 16 billion were signed at the...
Business
Central & Southern Asia and Oceania region leads the world in cryptocurrency adoption
The fifth annual Chainalysis Global Crypto Adoption Index looks at both on- and off-chain data to determine which countries are...
Economy
ESA, SAP ink agreement
Business
CATRION 2023 profit up 10%
Business
Geostrategy
Saudi Arabia’s air defense commander examines Russia’s S-350, S-400 systems
RIYADH, SAUDI ARABIA – The Commander of the Royal Saudi Air Defense Force Lieutenant-General Mazyad bin Suleiman Al-Amr has inspected...
- The Royal Saudi Air Defense Force Commander saw various radars from the Almaz-Antey air defense concern.
- The commander visited the stands of Russian defense industry companies and paid special attention to the air defense systems.
Business
Investment in Qatar free zones reaches US$1.3bn, says QFZ chairmanÂ
DOHA, QATAR - Minister of State and Chairman of Qatar Free Zones Authority (QFZ) Dr. Ahmad bin Mohammed Al Sayed...
- The QFZ chairman held a meeting with a delegation led by First Vice-Chairman of Qatar Chamber Mohamed bin Ahmed bin Twar Al Kuwari.
- The delegation paid a field tour to the Ras Bufontas Free Zone to explore the investment benefits and business opportunities within the free zones.
Geostrategy
RTA inks agreement to develop entry/exit points for Dubai Harbor
DUBAI, UAE - The Roads and Transport Authority (RTA) of the Emirate has entered into a strategic partnership with ‘Shamal...
- The bridge extends from Sheikh Zayed Road to Dubai Harbour, an exceptional seafront district that hosts the region’s marina.
- RTA would construct a bridge of two lanes in each direction spanning 1,500 meters and accommodating 6,000 vehicles per hour.
Economy
Number of visitors to Qatar rises 31.9 percent in December, says report
DOHA, QATAR - The total number of inbound visitors to the country reached about 519 thousand in December 2023, recording...
- Qatar Monthly Statistics bulletin said the highest number of visitors was from the Gulf Cooperation Counci at 33 percent.
- According to the bulletin, the total number of registered new vehicles in December 2023 has reached 3,390 new vehicles.
Geostrategy
UAE allocates US$5m for UN’s humanitarian efforts in Gaza
ABU DHABI, UAE – As per the directives of President Sheikh Mohamed bin Zayed Al Nahyan, Minister of Foreign Affairs...
- The UAE is keen to support the humanitarian operations being carried out by the United Nations in the Gaza Strip.
- The UAE stressed on the need to prevent further loss of life and avoid inflaming the situation in the Palestinian territory.
Business
UAE is the most popular destination for global workers, says report
Dubai, UAE – The United Arab Emirates is the most popular country for international talent seeking employment visas, a report...
- France, the United Arab Emirates, India, Turkey, and the United Kingdom were the top destinations for UAE recruiters.
- This trend underscores the UAE's commitment to fostering a diverse and vibrant multinational workforce.
Economy
Qatar Central Bank issues treasury bills, sukuk worth US$686m
DOHA, QATAR - The Qatar Central Bank issued treasury bills and sukuk with maturities of one week, one month, three...
- The Qatar Central Bank said the total bids for the treasury bills and Sukuk amounted to US$2.2 billion (QR 8.275 billion).
- QCB issued treasury bills and Sukuk with maturities of one week, one month, three months, six months and nine months.
Business
Number of millionaires in BRICS likely to rise by 85 percent in 10 years, says report
DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire...
- There are currently 1.6 million individuals with investable assets of over US$1 million in the leading emerging economies.
- The UAE’s millionaire population has shot up since 2013, by 77 percent, and is now home to 116,500 millionaires
Business
Spain urges WTO meet in UAE to address de-globalization
ABU DHABI, UAE - Madrid wants the upcoming 13th Ministerial Conference (MC13) of the World Trade Organization (WTO) here next...
- The ministerial meeting (MC13) will convene representatives of 164 nations and trading blocs.
- MC13 will seek key reforms to the global trading system, including expanding WTO membership .
Business
Ras Al Khaimah witnesses rise in issue of valid business licenses in 2023
RAS AL KHAIMAH, UAE - The economic growth of the Emirate continued to accelerate in 2023, with the Department of...
- The industrial sector in Ras Al Khaimah achieved a 5.3 percent annual growth rate in valid licence capital.
- Commercial licences experienced a 14.4 percent annual increase, bringing their total capital to $1.3 billion.
Deals worth $4.26 billion signed at inaugural Global Logistics Forum
Riyadh, Saudi Arabia -- More than 65 agreements and Memoranda of Understanding worth SAR 16 billion were signed at the...
Business
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ESA, SAP ink agreement
Business
Abu Dhabi’s private sector grows by over 35 percent in 2023
ABU DHABI, UAE – The Abu Dhabi Department of Economic Development (ADDED) organized, in collaboration with Abu Dhabi Investment Office...
Economy
RAKBANK, DP World sign pact
The aim is to offer trade finance solutions to businesses in UAE.
Business
Russia becomes world’s fourth-biggest LNG producer, says PM
MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year. The Russian...
Business
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Business
Dubai partners with 9 developers to bolster Real Estate Program
Dubai, UAE -- The Dubai Land Department (DLD) has embarked on the first phase of a series of strategic partnerships...
- The developers include Emaar Properties, Expo Dubai, Deyaar, DAMAC Properties, Azizi Developments, MAG, Sobha Realty and Ellington Properties.
- The agreement aims to enhance the competitiveness of Emirati professionals and facilitating their roles in the real estate sector.
Economy
GASTAT issues FDI statistics of Saudi Arabia for Q4 2023
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) issued on Friday the Foreign Direct Investment (FDI) statistics for...
- Total FDI in Saudi Arabia's economy during Q4 of 2023 totaled about US$5 billion.
- GASTAT said the results are based on a household survey conducted by the authority.
Economy
Gulf nations embark on defense industry localization
Saudi Arabia leads GCC efforts towards defense self-reliance by creating the first military industries committee, aiming to reduce foreign imports...
- Saudi Arabia leads GCC efforts towards defense self-reliance by creating the first military industries committee, aiming to reduce foreign imports and enhance local capabilities.
- The initiative targets over 50 percent nationalization of the military industry by 2030, driven by economic and technological sovereignty, aligning with the Saudi Vision 2030.