North Korea shows first photos of banned uranium enrichment site
North Korea for the first time showed images of the centrifuges that produce fuel for its nuclear bombs on Friday,...
Geostrategy
Qatar strikes new 15-year 3 mtpa LNG supply deal with Kuwait
Qatar agreed on Monday to supply Kuwait with 3 million tons per annum (mtpa) of liquefied natural gas (LNG) for...
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
Geostrategy
Saudi Arabia provides US$1m in assistance to UNAOC
Saudi Arabia has provided $1 million in assistance to the United Nations Alliance of Civilizations (UNAOC) for supporting its work...
- The kingdom's permanent representative to the UN, Abdulaziz bin Mohammed Al-Wasel, handed over the assistance to High UN High-Representative for the Alliance of Civilizations
- The ambassador praised the body for strengthening the role of multiple diplomacy, at a time when the world has an urgent need to establish the values of coexistence
Economy
Saudi Arabia chairs coordination meeting of GCC labor ministers in Cairo
The meeting discussed the agenda of the 48th session in addition to a number of other issues pertaining to GCC...
- The meeting discussed the agenda of the 48th session of Arab Labor Conference kicking off on Sunday
- The conference extends until 25 September with the participation of the heads of delegations from 21 Arab countries.
Business
US team explores ways to boost economic ties with UAE
The delegation, led by Governor Spencer J. Cox, included over sixty prominent Utah government officials, business executives, and community leaders,...
- The meeting was organized by the US-UAE Business Council, the State of Utah Governor's Office of Economic Opportunity and the World Trade Center Utah
- The American delegation discussed strengthening relations with the UAE and opportunities for future cooperation with nearly 100 businessmen and women from both sides
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North Korea shows first photos of banned uranium enrichment site
North Korea for the first time showed images of the centrifuges that produce fuel for its nuclear bombs on Friday,...
Geostrategy
Company News
Ajman Bank, EIH ink deal
Economy
Latest News
RAKEZ, Indian Economic Trade Organization ink MoU to boost business ties
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) and the Indian Economic Trade Organization (IETO) have signed...
Business
EIH acquires stake in 9Yards Comm
The acquisition aims to broaden EIH's investment portfolio.
Business
UAE looks to deepening trade relations with ASEAN bloc
Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, led the UAE delegation to Jakarta, Indonesia, the...
Business
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Business
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...
- The center's inauguration will allow Jordanian and foreign businesspeople to view investment opportunities offered by the Iraqi government.
- The center will provide Jordanian companies with the opportunity to learn about Iraqi industries and agricultural products.
Geostrategy
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...
- The primary objective of this cooperation is to regularize the electronic connection between the bureau and SJC.
- SJC will supply the bureau with the outcomes of the rulings related to its work in quest of achieving data accuracy.
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...
- The Iranian president noted that Iran’s economic potential will help bolster the position of both organizations on the international stage
- "The effect is reciprocal because all the participants of these unions, including ourselves, will benefit from Iran’s membership," he explained