GCC equity markets ended 2024 in positive territory
Five of seven GCC equity market indices under coverage ended 2024 on the rise, according to an in-depth report on GCC equity...
Business
Qatar Airways, British Airways expand partnership, form largest airline
The airlines have added 42 new countries to their shared network, including Italy, the Maldives, Norway, Singapore, and Sweden.
- The airlines have added 42 new countries to their shared network, including Italy, the Maldives, Norway, Singapore, and Sweden
- Customers will now benefit from even greater choices in prices and schedules with options for direct flights as well as connections via hubs in London and Doha
Economy
UAE to relax COVID-19 restrictions from Sept. 28
The UAE will be relaxing COVID-19 restrictions nationwide which will come into effect starting September 28. Dr. Saif Al Dhaheri,...
- Official websites of the Ministry of Health and Prevention, the Federal Competitiveness and Statistics Centre and NCEMA will continue to issue updated data.
- COVID-19 daily cases announcement will be discontinued.
Business
UAE-Oman non-oil trade $98.56 billion in past decade
The volume of trade exchange between the two countries during the first half of this year amounted to AED24.2 billion.
- Trade between the two recorded a growth of 98.9 percent to reach AED46.5 billion by 2021 end, compared to AED23.4 by 2012 end.
- It said non-oil exports accounted for 33 percent of the total non-oil trade during the past ten years, recording a value of AED120 billion.
Business
Masdar, REW sign collaboration pact
The two firms will explore developing offshore wind projects.
- Masdar and RWE are shareholders in the London Array project, which has been operational since 2012.Â
- The wind farm has an operating capacity of 630 megawatts, powering more than half a million homes, while displacing almost 1 million tons of carbon dioxide emissions every year.
Geostrategy
UAE takes part in financial group meeting in Indonesia
The UAE recently participated in the fifth International Financial Architecture (IFA) Working Group meeting within the G20 Finance Track for...
- The meeting discussed issues related to global financial development and stability.
- UAE stressed on the need to work on a comprehensive regulatory framework for central digital currencies.
Infographics
UAE’s mobile internet fastest in Arab world
According to the Digital Quality of Life Index by VPN provider Surfshark, Denmark has the best digital quality of life...
- Denmark achieved 0.83 index points in 2021 (1 is the highest score). South Korea and Finland follow in a joint second place at 0.76 points.
- The index considers factors such as internet connection quality, internet affordability and e-security.
Business
SAFEEN Feeders, Invictus sign deal
They will launch a new international dry bulk shipping service.
- Under the terms of the agreement, the two companies will purchase ships through Special Purpose Vehicles, owned 85 percent by SAFEEN Feeders and 15 percent by Invictus Investment.
- The two companies are expected to initially commit approximately AED463 million (US$126 million) for the investment in the vessels.
Economy
‘Firms in UAE resist employee demands for hike in salary’
Several firms in the UAE have received requests from employees to adjust compensation packages in line with the inflation in...
- Firms plan pay rises of 5 percent in 2023 as over 66 percent of companies receive requests for higher salaries.
- Over 200 global and local companies from all sectors were surveyed.
Business
BNPL payments in UAE may reach US$17.5bn by 2028
A leading retailer in the UAE has said that over 15 percent of its customers have now shifted to 'Buy...
- A number of people in the 24-45 age group prefer alternatives to credit cards for purchases.
- As per the scheme, purchases can be split into four easy interest-free payments from the time of purchase.
Economy
Saudi Arabia to set up five new renewable energy projects
The projects, whose total capacity reaches 3,300 MW, includes three which will utilize wind energy and two which will use...
- The projects, whose total capacity reaches 3,300 MW, includes three which will utilize wind energy and two which will use solar energy
- The projects are part of the National Renewable Energy Program as part of Saudi Arabia’s target to reach the best energy mix
Company News
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Dubai Police ink deal with UAE Hockey Federation
Arts & Culture
Saudi Arabia’s Tabuk region produces over 28m roses annually
TABUK, SAUDI ARABIA - The Tabuk region's agricultural sector is making steady progress towards achieving the goals of Saudi Arabia's...
Business
Aramco’s Luberef resumes bitumen exports after 20 years
RIYADH, SAUDI ARABIA - King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa onboard bulk...
Business
Tadawul’s sukuk, bonds market sees $3.4bn negotiated deals in first 9 months of 2023
RIYADH, SAUDI ARABIA – The Saudi Exchange's (Tadawul) sukuk and bonds market witnessed 74 negotiated deals worth nearly SAR 12.77...
Market Report
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Business
DEWA commissions 200MW second unit in Al Maktoum Solar Park
Dubai, UAE - Dubai Electricity and Water Authority (DEWA) commissioned the 200MW second unit of the parabolic basin complex in...
- It is set to provide clean energy for approximately 320,000 residences and reduce carbon emissions by 1.6 million tons annually.
- This phase uses the Independent Power Producer (IPP) model with investments of up to AED 15.78 billion ($4.30bn).
Geostrategy
Saudi Arabia, Pakistan ink pact on digital transformation, innovation
RIYADH, SAUDI ARABIA - The Kingdom of Saudi Arabia signed a memorandum of understanding (MoU) with Pakistan here on Sunday...
- Under the terms of the MoU, Saudi Arabia and Pakistan will strengthen their SME and start-up ecosystems.
- They will cooperate on policies, regulations and legislation in the digitization and electronic manufacturing sectors.
Business
ROSHN group opens sale for SEDRA phase 3 units in Riyadh
RIYADH, SAUDI ARABIA - ROSHN Group, one of the Public Investment Fund (PIF) subsidiaries, announced on Sunday the opening of...
- SEDRA phase three will add 3,438 more houses to ROSHN’s first integrated development; 1,904 units are for sale in this initial sales tranche.
- SEDRA 3 offers prospective residents eight options of floor plans and eleven facades, in single- or multi-family configurations,