China’s robot makers chase Tesla to deliver humanoid workers
Beijing, China - China dominates the market for electric vehicles. Now it's chasing in the race to build battery-powered humanoids...
Business
GCC tourism’s contribution to GDP expected to surge by 2030: Fitch
GCC tourism's GDP contribution will rise from $130 billion in 2023 to over $340 billion by 2030, driven by aviation...
Business
ISO Annual Meeting 2022 to begin Monday in UAE, trade on agenda
The International Organization for Standardization (ISO) Annual Meeting 2022 starts Monday at the ADNOC Business Center in UAE's Abu Dhabi.
- Hosted by UAE Ministry of Industry and Advanced Technology (MoIAT), the ISO Annual Meeting 2022 runs from September 19 to 23.
- The event will witness the participation of over 2,000 delegates physically and virtually.
Arts & Culture
Grand celebrations announced to mark 92nd Saudi National Day
Riyadh, Saudi Arabia—From Sept 18-26, Saudi Arabia will be hosting grand celebrations to mark the 92nd Saudi National Day. Chairman...
- Aerial and marine shows by jets, helicopters, civil airplanes, ships and boats will be organized under the theme "A Salute for the Homeland".
- The Ministry of Interior will hold "Events for the Pride of the Homeland", which includes musical shows by a military band, entertainment pavilions and virtual (AD1) theaters.
Business
UAE health ministry inks pact with Mediclinic Middle East
UAE Ministry of Health and Prevention (MoHAP) has signed a memorandum of cooperation (MoC) with Mediclinic Middle East to strengthen...
- UAE Ministry of Health and Mediclinic Middle East will cooperate in exchange of expertise and enhancing health research.
- Both entities will cooperate in organizing scientific conferences, training programs related to health research in the country.
Geostrategy
DEWA CEO briefs Utah House of Representatives delegation
MD & CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer met a delegation from the Unified...
- Speaker of Utah House of Representatives Brad Wilson led the delegation to the UAE.
- The delegation want to learn about DEWA’s innovative development projects in the water, renewable and clean energy sectors.
Business
Egypt to raise Suez Canal transit fees by 15 percent next year
Cairo, Egypt-- Egypt plans to raise fees for ships passing through the Suez Canal by 15 percent in 2023, the...
- Canal Authority's Chairman Osama Rabie has said. transit fees for bulk and tourist ships will be raised by 10 percent from Jan 1, 2023
- The Canal’s revenue reached US$704 million in July after achieving its highest monthly transit rate of 2,103 ships, as well as monthly net tonnage of 125.1 million tons.
Economy
Sharjah Chamber suggests measures for strengthening PPPs
The Sharjah Chamber of Commerce and Industry (SCCI) has recommended several measures to strengthen the emirate’s public-private partnerships (PPPs).
- The Cabinet to issue a federal law regulating partnerships between the federal authorities and the private sector in the UAE.
- In its meeting SCCI board of directors has ordered arrangements to be put in place to encourage public-private sector partnerships.
Business
Walaa to merge with SABB
The firm won the shareholders' approval for the merger.
- Walaa Insurance also received its shareholders’ approval to raise its share capital to $227 million, out of which 24 percent will go to SABB Takaful's shareholders
- The merger will be conducted through a share swap where Walaa will issue 0.6 shares against each share issued by SABB Takaful
Business
Qatar deepens partnership with Iberdrola Innovation
Qatar science and Technology Park (QSTP) has deepened its partnership with Iberdrola Innovation Middle East by signing an agreement to...
- The agreement was signed by QSTP Executive Director Yosouf Al Salehi and Managing Director of Iberdrola Innovation Middle East Santiago Banales
- Iberdrola aims to define the digital utility by developing innovative digital solutions for renewable energy integration, smart grids, and energy efficiency and conservation
Economy
Steep Fed rate hike seen as certainty after ugly inflation data
Soaring prices have pushed annual inflation to a 40-year high, inflicting pain on American consumers and businesses, despite the welcome...
- Families have been struggling with rising prices sparked initially by high demand as the world's largest economy emerged from the pandemic
- The US central bank has cranked up the benchmark lending rate four times this year, including two straight three-quarter-point hikes in June and July
Economy
S&P updates its outlook for Saudi Arabia to positive
In a statement, issued on Saturday, it assessed the kingdom's short and long-term foreign and local currency sovereign credit ratings...
- In a statement, issued on Saturday, it assessed the kingdom's short and long-term foreign and local currency sovereign credit ratings to A-/A-2
- S&P expects the kingdom's GDP to grow to a ceiling of 7.5 percent in 2022 with an expected financial surplus in the state budget of about 6.3 percent
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China’s robot makers chase Tesla to deliver humanoid workers
Beijing, China - China dominates the market for electric vehicles. Now it's chasing in the race to build battery-powered humanoids...
Business
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Iraqi Trade Center to be launched at ACC’s headquarters in Jordan
AMMAN, JORDAN - Amman Chamber of Commerce (ACC) and the Iraqi Embassy here agreed to open Iraqi Trade Center at...
Business
Qatar Credit Bureau, Supreme Judicial Council to share data
DOHA, QATAR - Qatar Credit Bureau signed a memorandum of understanding (MoU) with the Supreme Judicial Council (SJC) pertaining to...
Geostrategy
BRICS, SCO membership to reduce West’s sanctions effect, says Iran
"Given our numerous capabilities, we consider Iran’s membership in BRICS and the SCO as well as participation in other regional...
Geostrategy
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Business
ICIEC, SAPICO ink pact
Pact to enhance commercial activities between the two.
- The ICIEC is a member of the Islamic Development Bank (IsDB) Group and a leading Shariah-compliant multilateral insurer.
- This partnership aligns with both parties' shared vision of fostering international trade and economic development.
Geostrategy
French President says change in existing world order would weaken West, Europe
PARIS, FRANCE - Attempts to change the existing world order threaten to weaken the West and especially Europe, French President...
- Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
- Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
Business
Kuwait Airport expects 13% rise in passenger numbers, says DGCA
KUWAIT CITY, KUWAIT - Kuwait's Director General of Civil Aviation (DGCA) expected that the total passenger traffic to and from...
- The total passenger traffic from Kuwait International Airport in the present summer season is expected to reach 5.75 million passengers.
- Kuwait Airport expects to operate 45,000 flights this season, an increase of 15 percent compared to last year.