Gulf nations embark on defense industry localization
Saudi Arabia leads GCC efforts towards defense self-reliance by creating the first military industries committee, aiming to reduce foreign imports...
Economy
Middle East oil policies not dictated by US, says Russia
MOSCOW, RUSSIA – US will no longer be able to dictate oil prices in the Middle East, Director of the...
Geostrategy
Geostrategy
Blinken welcomes appointment of new UN envoy to Libya
US Secretary of State Antony Blinken has welcomed the appointment by UN Secretary-General Antonio Guterres of Abdoulaye Bathily as Special...
- Blinken took to Twiiter to say that US supported efforts to mediate an agreement in order to establish a constitutional framework and timeline for elections in Libya
- The Security Council on Friday approved former Senegalese minister and U.N. diplomat Abdoulaye Bathily as the new U.N. envoy to Libya, ending a nine-month vacancy
Business
ADX partners with FTSE Russell
The two have co-developed the FTSE ADX Growth Market Index.
- The launch of FADGMI is a result of ADX’s successful partnership with FTSE Russell and closely follows the launch in March of the FTSE ADX 15 Index (FADX15)
- The ADX Growth Market, the new brand of the Second Market, is an emerging equity segment on the exchange that connects investors and privately owned businesses
Economy
Bahrain launches multi-entry e-visa for training purposes
Bahrain has launched a multi-entry e-visa for training purposes, allowing a holder to stay in the kingdom for six months.
- The Nationality, Passports and Residence Affairs (NPRA) said the visa is part of the 24 initiatives to enhance the NPRA services and the economic recovery plan
- The visa could be applied for on www.evisa.gov.bh for a fee of BD60
Business
Saudi import of plastic products climbs 18% to 456,000 tons
The import of plastic products into Saudi Arabia has shot up 18 percent to 456,000 tons in the second quarter...
- According to the General Authority for Statistics, the increase in imports was fueled by a 45 percent yearly rise in imports from China
- The total plastic and rubber imports grew 19 percent to $1.89 billion in the second quarter of 2022
Geostrategy
Lebanon arrests five agents suspected of killing Syrian detainee
Shocked at the death of a Syrian detainee in custody of security officials, Lebanon has arrested five State Security agents...
- The State Security agents arrested Bashar Abdel Saud on August 31 and took him to an agency facility in Bint Jbeil in southern Lebanon for questioning with other detainees
- According to a source the agents wanted to extract a confession from the deceased suspect that he was a member of the Islamic State though he continued to deny the allegation
Economy
Broad money supply in Qatar reaches US$185.4bn in July
Social Security statements reached QR 78 million in July 2022, for 14,495 beneficiaries, recording a monthly decrease of 0.2% for...
- General index of the Qatar Stock Exchange increased in July 2022 at a monthly rate of 9.7% compared to June 2022.
- Cash equivalents; including Commercial Bank Deposits, attained for approx. QR 965 billion ($265bn) during July 2022.
Economy
Clean energy is key for Indonesian economy, says IEA
Indonesia has a viable path to reaching its target of net zero emissions by 2060, bringing major benefits to its...
- Key policy reforms and international support will be crucial to the success of the clean energy transition in the world’s fourth most populous country.
- The clean energy transition offers huge opportunities for the next chapter of Indonesia’s development as it seeks to become an advanced economy by 2045.
Geostrategy
UAE keen to work with global partners to address energy issues
A senior UAE official at the Ministry of Energy and Infrastructure said that his country is committed to collaborating with...
- The UAE is at the forefront in efforts of energy diversification and adoption of sustainability-driven technology to achieve climate neutrality.
- During the G20 Energy Transitions Ministerial Meeting, G20 Energy Ministers and major international energy organizations discussed key issues facing the sector.
Economy
Saudi Arabia eyes partnerships to accelerate growth of digital economy
Saudi IT Minister, Eng. Abdullah bin Amer Al-Swaha, held meetings with his counterparts from the other countries at the Indonesian...
- Saudi IT Minister, Eng. Abdullah bin Amer Al-Swaha, held meetings with his counterparts from the other countries at the Indonesian city of Bali
- The meetings also discussed enhancing cooperation in the areas of digital economy growth, emerging technologies and the digital government
Business
Ajman Bank and Mastercard collaborate to launch Touch Card
Ajman Bank and Mastercard have partnered to launch Touch Card, a payment card that will allow blind and partially sighted...
- The Touch Card has been designed to work with point-of-sale terminals and ATMs
- Moza Al Akraf Al Suwaidi, Undersecretary of the Ministry of Community Development, said it aligns with UAE’s social and community goals to promote an inclusive environment
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Gulf nations embark on defense industry localization
Saudi Arabia leads GCC efforts towards defense self-reliance by creating the first military industries committee, aiming to reduce foreign imports...
Economy
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DEWA wins top award by UK based institute
Arts & Culture
ADNOC Drilling to acquire rigs
Business
UAE banking sector is resilient, says CBUAE in its report
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) on Friday issued its Financial Stability Report for 2022....
Economy
Louvre Abu Dhabi displays new collection of artworks from across the world
ABU DHABI, UAE – The Louvre Abu Dhabi has displayed new acquisitions including three artworks by Pablo Picasso alongside loans...
Arts & Culture
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Business
IDB inks pact with IRENA
IDB will fund renewable projects by joining ETAF platform.
- The IDB plans to co-finance renewable energy projects and energy transition technologies worth US$100 million in Latin America and the Caribbean.
- By leveraging its global reach and energy transition knowledge, IRENA is actively developing a pipeline of energy transition projects .
Business
DEWA, Huawei ink deal to bolster digital change, decarbonization
Guangdong, China - A DEWA delegation led by Al Tayer, MD and CEO DEWA, discussed enhancing cooperation and exchanging experiences...
- An agreement was signed between Digital DEWA and Huawei which focuses on accelerating digital transformation.
- The deal is a step towards supporting supports DEWA's efforts in energy transformation, sustainability, and achieving Net-Zero.
Business
Agthia Group launches Agthia Ventures
New firm is a $54 million corporate venture capital fund.
- Funded by Agthia and its parent company ADQ, Agthia Ventures will be managed together with Touchdown Ventures.
- Agthia Ventures will help entrepreneurs through access to the firm’s extensive industry knowledge, diverse distribution networks.