ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.
Business
Economy
Oman state budget surplus $2.92 billion by September end: Ministry
Muscat, Oman---Oman’s budget achieved a surplus of RO 1.123 billion ($2.92 billion) at the end of September 2022, the country's...
- The country reported deficit of RO 1.030 billion for the same period last year, the finance ministry said.
- Oman's public revenues were up by more than 43 percent due to an increase in oil prices and production.
Economy
Jordan’s real estate trading up 23% in January-October of 2022
AMMAN, JORDAN - Jordan's real estate trade picked up by 23 percent to US$6.8 billion (JD4.875 billion) in 2022's January-October...
- State's revenue from the real estate market stood at US$344 million by the end of October in Jordan.
- Trade volume in the Jordanian real estate market went up in October 2022 by 21 percent compared to October 2021.
Science
Hub71, Yahsat partner to support satellite operations tech
Hub71 and Yahsat are both supported by Mubadala investment company.
- The two companies are supported by Mubadala investment company
- Hub71 is now home to almost 200 startups working across 20 sectors
Economy
UAE, Turkish FMs discuss food and energy security
The two ministers also discussed prospects of bilateral cooperation and partnership between the UAE and Türkiye.
- The two ministers also discussed prospects of bilateral cooperation and partnership between the UAE and Türkiye
- Sheikh Abdullah congratulated Çavuşoğlu on the resumption of the grain-export deal through the Black Sea to international markets
Economy
UAE removes most Covid restrictions and eases mask rules
Dubai, UAE—The United Arab Emirates has dropped almost all Covid restrictions as the rate of infection considerably drops in the...
- Wearing masks in the UAE will now be optional in all open and closed facilities, including places of worship and mosques
- Organizers of sports activities also have the option to require PCR tests or vaccination certificates as requisite to participate or attend their events
Business
Flydubai scales up flights
It will run new flights to Europe and Asia in 2023.
- The new flights will run to European cities such as Milan and Cagliari in Italy as well as Corfu in Greece
- The launch of the six new routes will elevate flydubai’s network to a total of 113 destinations across 53 countries
Saudi F-15S jet crashes, pilots eject unharmed
The aircrew, consisting of two officers, survived the incident after using the ejector seat.
- The aircrew, consisting of two officers, survived the incident after using the ejector seat
- An investigation committee has been set up to uncover the reasons behind this incident
Business
Suez Canal Authority to invest US$550m in current fiscal
Cairo, Egypt— Suez Canal Authority will make an investment of $550 million in the current fiscal year, according to Minister...
- The revenue of Suez Canal increased in the third quarter of this year by 23.5 percent year-on-year to hit $2.1 billion — the highest figure ever recorded
- As many as 6,252 ships crossed the canal from July to September, with a total net payload of 372.7 million tons
Economy
UAE to unveil its Net Zero by 2050 roadmap at COP27: Almheiri
‘The UAE is also working on a comprehensive assessment of the status and movement of sustainable financing solutions, including green...
- ‘The UAE is also working on a comprehensive assessment of the status and movement of sustainable financing solutions, including green bonds’
- ‘The country would focus on intensifying efforts to promote climate-smart initiatives to benefit the private sector, through a set of reports and evidence’
Geostrategy
UAE’s climate initiatives to benefit private sector
The Gulf country will reveal the mechanisms for implementing its strategic initiative to achieve climate neutrality 2050, as part of...
- At COP27, the Gulf country intends to reveal the details for the mechanisms and pathways for implementing its strategic initiative to achieve climate neutrality 2050
- This is alongside a comprehensive assessment of the status and movement of sustainable financing solutions, including green bonds, says the UAE minister
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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
ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.
Business
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UAE presents its maritime contributions at IMO meet in UK
DUBAI, UAE - Presenting its category B candidacy in the International Maritime Organization (IMO) Council at the organization’s focus group...
Business
EDB commits US$350m for renewable energy projects in developing countries
ABU DHABI, UAE - Emirates Development Bank (EDB) has committed US$350 million (AED 1.3 billion) to support the Energy Transition Accelerator...
Business
Monsha’at reports Q3 rise in SMEs driven by growth across non-oil sectors
RIYADH, SAUDI ARABIA - The General Authority for Small and Medium Enterprises (Monsha'at) has released its latest quarterly SME Monitor,...
Economy
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Business
Saudi Arabia raises US$11bn syndicated loan to fund deficit
RIYADH, SAUDI ARABIA - Saudi Arabia raised a syndicated loan of US$11 billion (SAR 41.25 billion) to fund a budget...
- The 10-year loan was funded by a group of banks including Industrial and Commercial Bank of China
- Citigroup Inc, First Abu Dhabi (FAB), and HSBC Holdings Plc,will help in funs according to sources familiar with the matter.
Geostrategy
UAE approves Dubai Metro Blue Line project
DUBAI, UAE - Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has approved the...
- Sheikh Mohammed underscored that investments in infrastructure projects align with Dubai's strategy for comprehensive city development.
- This is a new 30 kilometer metro route that will strategically link key areas in the emirate through 14 stations,
Business
Saudi minister says 6,225 industrial firms from Kingdom invest US$30bn in Egypt
RIYADH, SAUDI ARABIA - A total of 6,225 Saudi industrial businesses are operating in Egypt with US$30 billion worth of...
- At least 518 Egyptian companies are operating in the Saudi market, the minister said.
- He said that over 285 Egyptian brands are spread out across the Kingdom.