Germany shares observations on Qatar hosting Autonomous e-Mobility Forum
In its efforts toward sustainable transportation, the German embassy is the first diplomatic representation in Doha to utilize an electric...
Business
Russia becomes world’s fourth-biggest LNG producer, says PM
MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year. The Russian...
Business
Geostrategy
India to invite UAE as ‘guest country’ at G-20 Summit
India, the incoming President of the Group of Twenty (G-20) announced that it will invite the UAE as one of...
- The G-20 accounts for 85 percent of global GDP, 75 percent of international trade and two-thirds of the world population.
- This is the first of a series of announcements being made by India preparatory to its assumption of the G-20 Presidency on December 1, 2022.
Geostrategy
High-level UAE economic delegation visits Georgia
A UAE economic delegation led by Minister of State Ahmed Ali Al Sayegh visited Tbilisi, Georgia.
- UAE-Georgian economic relations have witnessed remarkable development in recent years.
- Total non-oil trade between UAE and Georgia in 2020 and 2021 grew by 52 percent to reach US$223 million.
Business
UAE’s TDRA becomes member of global body EFQM
UAE's Telecommunications and Digital Government Regulatory Authority (TDRA) has announced that it has become a member of the European Foundation...
- Telecommunications and Digital Government Regulatory Authority will support the implementation of EFQM's leading approach.
- TDRA will utilize the integrated services provided by the EFQM to better equip its own teams to drive excellence.
Business
Tabreed okays 100% foreign ownership
The previous cap on foreign ownership was 49 percent.
- Tabreed is majority-owned by Abu Dhabi's state-owned fund Mubadala.
- Khaled Abdulla Al Qubaisi, Chairman Tabreed, said the move is expected to “provide greater opportunities to benefit from foreign investment".
Economy
New PPP law will help UAE achieve competitive economy: Massimo Falcioni
PPPs boost efficiency, increase transparency in funds management, simplify processes that have cost implications, and integrate technologies, said ECI CEO
- PPPs boost efficiency, increase transparency in funds management, simplify processes that have cost implications, and integrate technologies, said ECI CEO
- ECI, Falcioni added, has partnered with private companies and government institutions to enhance public infrastructures in and outside the UAE
Business
Dubai looks to raise $817m from IPO of Salik Company
Dubai is looking to raise $817 million in the initial public offering of Salik. It is selling 1.5 billion shares...
- All shares to be offered shall represent the sale of existing shares held by the Government of Dubai
- The CEO of Salik believes the growth of the city is in tandem with the growth of Salik, and this offering represents an exciting opportunity for investors
Geostrategy
GCC countries hail national reconciliation in Sri Lanka
Abdulmohsen bin Khuthaila in his speech on the sidelines of an official debate on human rights in Geneva, said that...
- Abdulmohsen bin Khuthaila in his speech on the sidelines of an official debate on human rights in Geneva, said that the GCC backs all open and effective dialogue in Sri Lanka
- Addressing the 51st session of the Human Rights Council, Khuthaila also stressed that enhancing human rights is a collective responsibility
Geostrategy
King Abdullah calls on UN, world to provide aid for refugees
King Abdullah of Jordan met with the UN High Commissioner for Refugees Filippo Grandi at Al-Husseiniya Palace to discuss how...
- King Abdullah addressed global food security, and the international community’s obligation toward nations hosting millions of refugees
- Grandi said the UN agency would continue to support the Kingdom’s efforts, and encourage the international community to assist host countries facing increasing economic challenges
Analysis
US Fed Reserve may remain hawkish in coming months
Despite the recent slowdown, the US economy remains robust, which allows for more aggressive monetary policy tightening. The US consumer...
- The US Federal Reserve will lean "hawkish," raising rates by 75 bps in September and 50 bps both in November and December, before a final 25 bps hike in early 2023
- Despite the recent slowdown, the US economy remains robust, which allows for more aggressive monetary policy tightening, Qatar National Bank says in its weekly report
Economy
Saudi Arabia launches three new iron and steel projects
An integrated iron sheet production complex with a capacity of 1.2 million tonnes per year is one of the projects.
- An integrated iron sheet production complex with a capacity of 1.2 million tonnes per year is one of the projects
- A factory will also be established to produce circular iron blocks with an estimated production capacity of one million tonnes per year
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Germany shares observations on Qatar hosting Autonomous e-Mobility Forum
In its efforts toward sustainable transportation, the German embassy is the first diplomatic representation in Doha to utilize an electric...
Business
Company News
Yahsat 2022 revenue up 6%
Business
Latest News
Amwaj merges with Shaqab, Atyab
Business
ADFD finances $105.4m energy security project in Tanzania
ABU DHABI, UAE - The Abu Dhabi Fund for Development (ADFD) has signed a loan agreement with the Government of...
Geostrategy
Most Read
Geostrategy
Ukraine ‘satisfied’ with Saudi-led mediation to end war
Russia, which was not invited to the summit, said that a resolution was possible if Ukraine "stopped the hostilities and...
- Representatives from around 40 countries including China, India, the United States and Ukraine took part in the peace summit, which was held in Jeddah
- The head of Ukraine's presidential office, Andriy Yermak, said there was an agreement on the next meeting, "but there are no exact dates"
Business
Dubai Investments net rises to $157m
Real estate sector remains one of the key business verticals.
- Total income for the Group increased by 31 percent from US$422 million (AED 1.55 billion) in H1 2022 to US$552 million (AED 2.03 billion) during H1 2023.
- Total shareholder equity increased to US$3.5 billon as of June 30 2023, compared to US$3.5 billion (AED12.84 billion) as of year ended December 31 2022.
Business
Empower H1 2023 revenue at $333m
The company’s EBITDA in H1 2023 was US$178 million.
- In the July 2022 to June 2023 period, Empower’s consolidated revenue was US$778 million.
- Empower CEO said the firm continues to expand investments in its portfolio of assets and infrastructure.