Saudi’s Modon attracts $3.8bn industrial investments in 2023
Saudi Authority for Industrial Cities and Technology Zones (Modon) has announced significant progress in attracting industrial and logistical investments for...
Economy
New shipping service in Saudi Arabia launched
RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) has announced the addition of the new shipping service 'NRS' by...
Business
Economy
Realty, banking blue chips continue to power UAE markets
Among other stocks, Emirates NBD, DEWA, and TECOM increased 0.74 percent, 0.77 percent and 1.25 percent respectively.
- Among other stocks, Emirates NBD, DEWA, and TECOM increased 0.74 percent, 0.77 percent and 1.25 percent respectively
- Driven by Emaar, Dubai General Index (DFMGI) advanced 0.79 percent to 3,463.5927.16 pts, with the property blue chip closing higher at AED4.80
Arts & Culture
Sharjah Chamber set to organise ‘Al Maleh and Fishing’ Festival
The Sharjah Chamber of Commerce and Industry (SCCI) has announced it will be organizing "Al Maleh and Fishing" Festival in...
- The SCCI added that all preparations are in place, and the festival is scheduled to begin on September 8, 2022, in Dibba Al Hisn City.
- The four-day event will involve the participation of several government entities and private sector companies.
Economy
Saudi bank loans to public and private sectors grow 14% by July end
Riyadh, Saudi Arabia - Saudi bank loans granted to public and private sectors grew 14 percent by the end of...
- The total loan granted by Saudi banks amounted to SAR 2.324 trillion ($620bn) by July end.
- Private-sector lending also increased by 14 percent year-on-year (YoY) to SAR 2.213 trillion ($590bn).
Business
Amazon Web Services unveils the AWS Middle East (UAE) region
Abu Dhabi, UAE - Amazon Web Services (AWS) announced Tuesday the launch of its second Region in the Middle East,...
- AWS estimated its projected spending on the construction and operation of new Region will support an average of nearly 6,000 full-time jobs.
- The AWS Middle East (UAE) Region will also add an estimated $11 billion over the next 15 years to the UAE’s gross domestic product (GDP).
Business
DMCC welcomes 15 companies for training program
Dubai Multi Commodities Centre (DMCC), the Government of Dubai Authority on commodities trade and enterprise, has announced that 15 companies...
- The program will support the growth of impact-driven businesses that align with the United Nations Sustainable Development Goals.
- The program is a part of the DMCC’s wider Environmental Social Governance strategy
Business
Museum of the Future’s online store creates global connections
Dubai, UAE - The Museum of the Future has been connecting with people globally through its online store, offering memorabilia...
- The store offers memorabilia inspired by the museum’s design and exhibits, and gives a glimpse into its rich experiences.
- The museum contains products designed in innovative, artistic ways that reflect the spirit of the museum and its values.
Infographics
UAE offers low-risk business climate
Unstable political conditions in several Arab countries make them high- or extreme-risk places for businesses.
- Country risk assessment is the process of determining a nation's ability to transfer payments.
- It takes into account political, economic and social factors. It is used to help organizations make strategic decisions when conducting business in a country with excessive risk.
Business
DEWA ranks as 3rd most valuable utility brand in Middle East
Dubai Electricity and Water Authority (DEWA) has been ranked the third most valuable utility brand in the Middle East and...
- Dubai Electricity and Water Authority has been ranked the third fastest growing brand in the UAE
- The report said that the remarkable success of DEWA's IPO in H1 2022 was also due to the strength of the utility's brand
Business
Hub71 picks latest cohort of tech startups from nine countries
Hub71, Abu Dhabi's global tech ecosystem, has selected its latest cohort of tech startups from a large number of applicants...
- The startups range from FinTech, HealthTech and CleanTech to EdTech, FoodTech and Logistics.
- They will benefit from equity-free incentives worth up to $136,000)and access to enabling programmes and an ecosystem of active investors.
Geostrategy
Iraq, Kuwait, US conduct joint patrol in Arabian Gulf
Ships from the Iraq Navy, Kuwait Naval Force, Kuwait Coast Guard, US Navy, and US Coast Guard participated in maneuvering...
- Ships from the Iraq Navy, Kuwait Naval Force, Kuwait Coast Guard, US Navy, and US Coast Guard participated in maneuvering exercises and maritime security drills
- US ships included patrol coastal ship USS Sirocco (PC 6) and fast response cutter USCGC Charles Moulthrope (WPC 1141)
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Saudi’s Modon attracts $3.8bn industrial investments in 2023
Saudi Authority for Industrial Cities and Technology Zones (Modon) has announced significant progress in attracting industrial and logistical investments for...
Economy
Company News
ADNOC Drilling to acquire rigs
Business
Latest News
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
DEWA given Net-Zero statement of verification for work on climate change
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has received the net-zero statement of verification and assurance certificate in...
Business
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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.
Business
UAE says 79,000 Emiratis working in private sector
DUBAI, UAE - Around 79,000 UAE nationals are working in the private sector, the Ministry of Human Resources and Emiratization...
- These figures mark a 57 percent increase compared to the end of 2022 figures, where 50,228 UAE nationals were employed in the private sector.
- Nearly 17,000 private sector firms employ UAE citizens as of July 7, which was the last day for companies to achieve their semi-annual Emiratisation targets.
Geostrategy
UAE opens field hospital in Chad to help Sudanese refugees
ABU DHABI, UAE - UAE Ambassador to the Republic of Chad Rashid Saeed Al Shamsi on Sunday opened a field...
- The hospital was opened in the presence of the Chadian Minister of Health and a number of Chadian government officials.
- Representatives of UAE entities supervising the implementation of the project, and the Emirati medical team were also present on the occasion.