UAE announces monthly allowance of 50% of basic salary for imams, muezzins
Abu Dhabi, UAE - United Arab Emirates has announced a provision of a monthly financial allowance equivalent to 50 percent...
Mubadala to anchor US-based Blue Opal’s second venture capital fund
MIC will be an anchor investor in their second venture capital fund.
Business
Geostrategy
Pakistan Prime Minister Shehbaz to visit UAE next month
This would be Shehbaz Sharif’s second visit to the UAE, but the first official visit since he assumed office.
- This would be Shehbaz Sharif’s second visit to the UAE, but the first official visit since he assumed office
- The visit will likely take place in the first week of September and the prime minister would head a high-level delegation
Business
UAE stock markets post gains of $2.26 billion on Friday
Dubai General Index (DFMGI) advanced 0.007 percent to 3,462.890 pts as blue-chip developer Emaar properties continued to hike, closing higher...
- Realty and banking blue chips accounted for the lion's share of transactions that amounted to more than 14,700 worth around $454 Million over 353.7 million shares
- Emirates NBD, Dubai Islamic Bank, and TECOM increased 1.84 percent, 0.84 percent and 0.41 percent respectively
Geostrategy
Macron calls for ‘new pact’ with Algeria in reconciliation visit
The trip follows months of tensions between Paris and the North African country, which earlier this year marked six decades...
- Macron had proclaimed a "new page" in relations on Thursday, after meeting President Abdelmadjid Tebboune
- On Friday, Macron and Tebboune presided over a "coordination meeting" involving security officials from both countries
Economy
Agreement signed to implement Abu Dhabi Agri Genome Program
The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) signed a collaboration agreement with the Khalifa Centre for Genetic Engineering...
- The program aims at applying the best international practices related to agricultural genetic research.
- It aims to develop local spices of plant, animal and fish, to improve agricultural production and address the emirate's climatic and environmental challenges.
Business
DEWA organizes virtual seminar, 90 Turkish firms participate
Dubai Electricity and Water Authority (DEWA) has organized a virtual seminar with 90 leading Turkish companies in the energy and...
- DEWA has a clear strategy and specific goals to increase the share of clean and renewable energy in Dubai’s energy mix
- The company has launched pioneering projects and initiatives to diversify clean energy sources
Business
South Korea wins $2.2bn order in Egypt’s first nuclear plant
The Korea Hydro & Nuclear Power Co. won a contract with Russia’s state-owned Rosatom in the project. The state-owned Korean...
- El Dabaa plant, with a capacity of 4,800 MW, is Egypt’s first nuclear plant and would be constructed at an estimated cost of $28.75 billion.
- The contract stipulates that Rosatom will not only build the plant, but will also supply Russian nuclear fuel for its entire life cycle.
Economy
Egypt’s central bank cancels maximum cash deposit limit in banks
During the COVID-19 crisis, the bank set a maximum limit of cash deposits as part of measures to face its...
- During the COVID-19 crisis, the bank set a maximum limit of cash deposits as part of measures to face its global economic impact
- The bank decided to increase the maximum limit of cash withdrawals in banks from $2605 to to $7,814
Geostrategy
OIC calls on international community to stand firm with Rohingyas
The organization has also called for ensuring favourable conditions for the safe, voluntary, dignified, and sustainable return of all Rohingya...
- The organization has also called for ensuring favourable conditions for the safe, voluntary, dignified, and sustainable return of all Rohingya refugees to their homeland
- The OIC paid tribute to the Government and people of Bangladesh for their relentless efforts to provide protection, hospitality, and necessary assistance to Rohingya refugees
Economy
Jordan approves Public Sector Modernization roadmap
Addressing the Cabinet session, Prime Minister Dr Khasawneh affirmed the government's commitment to achieving the desired outcomes from the modernization...
- Addressing the Cabinet session, Prime Minister Dr Khasawneh affirmed the government's commitment to achieving the desired outcomes from the modernization roadmap
- The PM also stressed that the roadmap is "vigorous, flexible and capable" of realizing modernization and development, and is open to any positive improvements
Economy
Egypt’s GDP grows 6.6% in FY 2022: PM Madbouli
The last quarter of the past fiscal year was really difficult due to the Russia-Ukraine war.
- The last quarter of the past fiscal year was really difficult due to the Russia-Ukraine war
- The PM said that the unemployment rate in the country stabilised at 7.2 percent
Most Read
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
UAE announces monthly allowance of 50% of basic salary for imams, muezzins
Abu Dhabi, UAE - United Arab Emirates has announced a provision of a monthly financial allowance equivalent to 50 percent...
Company News
Latest News
Qatar Industrial Production index up 2.8 percent in April
DOHA, QATAR- The Industrial Production index (IPI) of Qatar for April 2023 reached 106.4 points which is an increase of...
Economy
UAE, Morocco speakers of parliament discuss ways to enhance cooperation
MARRAKESH, MOROCCO - Speaker of the UAE Federal National Council (FNC) Saqr Ghobash met with Morocco Speaker of the House...
Geostrategy
Dubai records US$3.4bn in weekly real estate transactions
DUBAI, UAE - A total of 3,625 real estate and properties transactions valued at US$3.4 billion (AED12.5 billion) were conducted...
Business
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Business
ESG, Q Holding form joint venture
JV to develop accommodation project in Abu Dhabi island.
- This project aims to address the diverse housing needs of employees in sectors such as healthcare, transportation.
- Upon completion, the project will cater to approximately 5,000 staff, offering a convenient environment.
Business
UAE Ministry of Energy joins National ICV Program
DUBAI, UAE - The Ministry of Energy and Infrastructure (MoEI) has joined UAE's National In-Country Value (ICV) program following a...
- The MoU supports national strategic objectives to boost the growth of the industrial and advanced technology sectors.
- It aligns with the National ICV program's aims to enhance economic growth by redirecting government expenditure into the national economy.
Business
Qatar provides maritime radio station licensing for small ships in Al Khor, Al Ruwais cities
DOHA, QATAR - The Communications Regulatory Authority (CRA) has announced the provision of maritime radio station licensing services for small...
- Qatar's Communications Regulatory Authority aims to process the requests of a large segment of the residents of the northern cities of the country.
- These services will facilitate the completion of their applications related to maritime radio station licensing for small ships.