Two-State solution nearing point of no return: UN chief
He renewed calls for an immediate and lasting ceasefire, the unconditional release of all hostages, and full humanitarian access. He...
Geostrategy
Travel and tourism sector contributes 11.4 percent to Gulf’s GDP
Muscat, Oman -- Travel and tourism sector's contribution to the Gulf's GDP by the end of 2024 reached approximately 11.4 percent,...
Economy
UAE, US partner to invest $100bn in renewables, clean technologies
The UAE-US Partnership for Accelerating Clean Energy (PACE), aims to produce 100 new gigawatts (GW) of clean energy in the...
- The UAE-US Partnership for Accelerating Clean Energy (PACE), aims to produce 100 new gigawatts (GW) of clean energy in the two countries
- The UAE has invested more than US$50 billion over the past ten years in clean energy technologies and solutions around the world
Business
Dubai starts issuing multiple-entry visa for Qatar World Cup fans
Dubai, UAE— Dubai has begun to give out multiple-entry tourist visa for "Hayya cardholders" traveling to Doha for the World...
- General Directorate of Residency and Foreigners Affairs (GDRFA) issued the first 90-day multiple-entry tourist visa to Mohammed Jalal, a Jordanian football fan
- Arrivals, according to GDRFA, can have their visas before reaching the country and can shuttle frequently between Dubai and Doha for matches several times a day
Geostrategy
Abu Dhabi, Kyrgyzistan’s Bishkek City sign twinning agreement
Abu Dhabi, represented by Abu Dhabi's Department of Municipalities and Transport, and Bishkek City have signed a twinning agreement to...
- As part of the city twinning agreement, the two capital cities will enable mutual exchange between delegations and the business community.
- The pact will also facilitate exchange of knowledge in urban planning and explore the feasibility of joint venture projects.
Geostrategy
UAE Minister, IMF Director discuss challenges facing MENA
UAE Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met with Director of the Middle East and Central...
- The minister underscored the importance of the IMF in enhancing the safety of the global economy.
- He said that the IMF helps in creating a stable financial environment, especially in light of the exceptional circumstances the world is facing.
Geostrategy
ENEC, Atlantic Council sign three-year nuclear cooperation pact
Abu Dhabi, UAE--- The Emirates Nuclear Energy Corporation (ENEC) has signed a three-year agreement with the Atlantic Council to collaborate...
- The Atlantic Council is a US-based think tank, and home to the Global Energy Centre, one of the leading US energy centers for promoting energy security.
- The collaboration will see ENEC and the Atlantic Council join forces to support the Council’s new Nuclear Energy Policy Initiative.
Business
JAHEZIYA, Enekom ink pact
Pact aims to expand railway solutions, technology in region.
- As per the agreement, JAHEZIYA will be Enekom’s exclusive distributor of the patented RailAcoustic Sensors in the GCC to enhance railway security.
- The partnership was announced during ADIPEC, an exhibition in which the world’s energy ecosystem assemble.
Economy
UAE-US partnership to spur $100 bn clean-energy financing, development
The Partnership for Accelerating Clean Energy will see the two countries develop, finance and deploy clean projects in the US,...
- UAE Special Envoy for Climate Change Dr. Sultan Al Jaber and Special Presidential Coordinator Amos Hochstein signed the partnership at ADIPEC.
- They will accelerate investment in fossil fuel emissions mitigation; further develop CCUS technologies and advance methane measurement and management.
Business
ADEX signs line-of-credit pact with National Bank of Iraq
The Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a US$10...
- The agreement between ADEX and NBI aims to boost economic cooperation between the UAE and Iraq.
- The pact adds momentum to ADEX’s effort to contribute to the economies of both countries and support the UAE’s strategy on economic diversification.
Business
Saudi Arabia issues permits for projects worth US$1.1bn
Riyadh, Saudi Arabia—Saudi Arabia has issued permits for non-oil industrial projects worth $1.1 billion in August. The licenses issued in...
- The licenses issued in August were for chemicals, metals, machinery, furniture, home appliances and other light-medium products
- While 85 percent of the projects issued with permits were owned by locals, the remaining 15 percent were owned by foreigners or as joint ventures
Business
Emirates Steel Arkan Q3 net profit $28m
The net profit for the first nine months of 2022 was $104m.
- Revenues for the first nine months of 2022 rose to AED7.12 billion, while the revenues rose 29 percent to AED2.51 billion in the third quarter.
- The Group's Q3 2022 EBITDA gained 224 percent year-on-year (YoY) to AED269 million. The Group reported EBITDA of AED863 million.
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
Two-State solution nearing point of no return: UN chief
He renewed calls for an immediate and lasting ceasefire, the unconditional release of all hostages, and full humanitarian access. He...
Geostrategy
Company News
Latest News
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...
Business
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...
Geostrategy
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...
Business
Most Read
Business
8 pacts on trade, investment inked in Saudi-Algerian Business Forum
RIYADH, SAUDI ARABIA - The Saudi-Algerian Business Forum concluded its activities with the two countries signing eight agreements aiming at...
- The agreements cover trade, investment, information technology, business incubators and accelerators, tourism services, elevators, and spare parts.
- The pacts were signed by the Federation of Saudi Chambers, the Council for Algerian Economic Renewal and several Saudi and Algerian firms.
Business
Solutions+, EIH sign MoU
The pact will help in creating job opportunities in the UAE.
- The pact outlines a strategic cooperation that contributes to supporting and developing closer ties between the two companies.
- The agreement will help improve efficiency in Business Process Outsourcing, Digital Management and Facility Management.
Business
EGA begins work on pilot plant to convert bauxite residue into manufactured soil
ABU DHABI, UAE – Emirates Global Aluminum (EGA) on Thursday announced the construction of a pilot plant to convert bauxite...
- The pilot plant will use technology to neutralise caustic bauxite residue into an environmentally benign raw material in hours.
- This optimised bauxite residue is the main ingredient for the manufactured soil, which EGA calls turba.