2025 IT Security Predictions
Cloudflare, a leading connectivity cloud company recently published an Op-Ed by Grant Bourzikas, CSO, tackling IT security predictions for 2025
Saudi Arabia’s non-oil exports surge by nearly 23% in Sept 2024
Riyadh, Saudi Arabia -- Saudi Arabia's non-oil exports surged by 22.8 percent in September, according to a report by the...
Business
Economy
‘Barakah Nuclear Power Plant promotes clean, safe energy’
UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei said that the start-up of Unit 3 of Barakah...
- The nuclear plant plays a key role in promoting the transition to safe and environmentally friendly energy sources.
- Several countries began to focus on developing nuclear power to meet the challenges of energy security and climate change.
Business
Borouge to pay dividend of $325m
This is the first payment of the total $975m dividend for 2022.
- The interim dividend payment reflects Borouge's strong financial performance in H1 2022 and its outlook for the remainder of 2022, the company said.
- In the first half of 2022, Borouge reported a 16.4 percent increase in revenue to $3.5 billion (AED12.7 billion) versus the same period last year.
Economy
Central Bank of Egypt keeps interest rates unchanged
The Central Bank of Egypt also decided to increase the required reserve ratio to 18 percent from 14 percent
- The Central Bank of Egypt also decided to increase the required reserve ratio to 18 percent from 14 percent
- The CBE remains committed to achieving stable levels of inflation over the medium term which is a requisite condition towards sustainable economic growth
Geostrategy
UAE signs cooperation pact with Ethiopia on extradition, legal assistance
Abu Dhabi, UAE - The UAE signed agreements on extradition and mutual legal assistance in criminal matters with Ethiopia. The...
- The new agreement aims at mutual cooperation in legal and judicial fields.
- According to Ethiopia's Ministry of Trade and Regional Integration, trade between Ethiopia and the UAE exceeded $2.5 billion in the last five years.
Geostrategy
UK government revokes gas fracking ban in England
Britain lifted England's moratorium on controversial gas fracking to boost energy security, despite breaking the ruling Conservative party's manifesto pledge.
- Fracking is carried out by blasting a mixture of water, sand and chemicals underground to release shale oil and gas.
- But environmentalists argue that the process contaminates water supplies, hurts wildlife, causes earthquakes and contributes to global climate change.
Business
Saudi-UAE non-oil trade increased by 92.5 percent in past decade
The value of non-oil exports from the UAE to Saudi Arabia over the past ten years was around AED205.5 billion,...
- By end of 2012, the value of non oil trade between the two countries was AED 64.8 billion ($17.65bn)
- The trade exchange between the two countries in the first half of 2022 totaled AED65.7 billion ($17.9bn)
Business
Dana Gas to pay $85m H1 dividend
The dividend of 4.5 fils per share will be paid by 21 Oct.
- The company posted a net profit of $111 million in the first six months of the year, an 82 percent increase compared to an adjusted net profit in H1 2021.
- The company’s profitability in the first half of 2022 was driven by elevated hydrocarbon prices,
Business
Dubai records realty transactions worth $299 million Thursday
Dubai, UAE-- Dubai real estate market recorded realty transactions worth AED1.1 billion ($299 million) on Thursday, Dubai Land Department said....
- The deals included 371 sales transactions worth AED825.36 million, in addition to 81 mortgage deals of AED231.57 million, and 18 gift deals amounting to AED48.1 million.
- The sales included 334 villas and apartments worth AED626.55 million, and 37 land plots worth AED198.81 million.
Business
Value of building permits issued by Sharjah Municipality hits $2.54 bn
Sharjah, UAE--The contractual value of building permits issued by Sharjah Municipality grew to AED9.344 billion ($2.54 billion) in H1, while...
- The value of building permits for which certificates of completion were issued reached AED3.263 billion.
- Building Permits Department has completed 1,824 applications for accrediting engineering plans, and issued 1,265 building permits.
Geostrategy
UAE, Jordan ink pact to standardize specifications
The UAE Ministry of Industry and Advanced Technology (MoIAT) signed a Memorandum of Understanding (MoU) with the Jordan Standards and...
- The agreement aims to facilitate industrial, trade and economic growth in both the UAE and Jordan.
- The pact encourages cooperation in conformity assessment procedures for non-food and non-pharmaceutical industrial products.
2025 IT Security Predictions
Cloudflare, a leading connectivity cloud company recently published an Op-Ed by Grant Bourzikas, CSO, tackling IT security predictions for 2025
Company News
ICIEC inks deal with SNB
Business
Fertiglobe Q1 net profit $135m
Business
Latest News
Arab countries account for 60 percent of global Islamic financial industry, says AMF
ABU DHABI, UAE – Director-General and Chairman of the Board of Directors of the Arab Monetary Fund Dr Abdul Rahman...
Business
Qatar launches ‘Istamer’ platform to employ retirees in private sector
DOHA, QATAR - The Ministry of Labor (MoL) launched the "Istamer" digital platform, which deals with employing Qatari retirees wishing...
Business
ADNOC, TAQA complete financial closing on sustainable water supply project
ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2...
Business
Most Read
Science
World must understand AI, curb its risk, says UK Deputy PM
NEW YORK, US - The United Kingdom will be holding a summit on artificial intelligence (AI) so that nations can...
- UK Deputy PM said that a summit, set for November, will aim to preempt the risks posed by frontier AI and explore how it can be used for public good.
- One of the concerns highlighted by the Deputy Prime Minister is the unprecedented speed at which AI is evolving having far-reaching implications.
Business
UAE-Saudi non-oil trade reaches US$159bn in 2018-22
ABU DHABI, UAE - The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by...
- The volume of trade between the UAE and the Kingdom of Saudi Arabia grew by 28 percent in 2022.
- The year 2021 saw growth, reaching $33.9 billion (AED 124.65 billion), compared to $28 billion (AED 103.91 billion) in 2020.
Geostrategy
Russian defense minister says Moscow-Tehran ties improving despite sanctions
MOSCOW, RUSSIA – The cooperation between Moscow and Tehran is reaching new highs, Russian Defense Minister Sergey Shoigu said on...
- The Russian defense minister announced readiness to take joint steps to strengthen stability and security in the Middle East.
- The Russian minister said that cooperation and dialogue between Moscow and Tehran has enhanced recently.