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
flydubai adds two Saudi destinations
Flights to Al Jouf Airport and Red Sea Airport to start from April 18.
Business
Geostrategy
UAE, US discuss enhancing military, defence ties
Rear Admiral Pilot Sheikh Saeed bin Hamdan bin Mohammed Al Nahyan, explored means of fostering relations in all fields with...
- Rear Admiral Pilot Sheikh Saeed bin Hamdan bin Mohammed Al Nahyan, explored means of fostering relations in all fields with Vice Admiral Brad Cooper
- During the meeting, Rear Admiral Pilot Sheikh Saeed discussed the keenness to enhance ties with the US official across various domains
Economy
Saudi Fund to finance building of Cameroon hospital
The hospital will help tackle chronic disease and reduce mortality rates and also alleviate overcrowding in other hospitals of the...
- The agreement was signed by SFD CEO Sultan Al-Marshad, and the Cameroonian Minister of Economy, Planning, and Regional Development, Alamine Ousmane Mey
- The agreement will help to build and equip the hospital with 200 beds and develop specialized medical departments, centers, and buildings
Business
SALIC to set up storage center
Its CEO said the center will store imported edible oil.
- The announcement was made in a Saudi-Malaysian private sector meeting in Riyadh, which discussed areas of cooperation and investment opportunities
- The center, which will be constructed by the Public Investment Fund-owned firm, will serve as a distribution point for edible oils in the region
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
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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
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
Company News
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ACWA Power signs deal with China
Business
UAE discusses tourism with India, UK, Indonesia and Japan
NEW DELHI, INDIA - UAE Minister of Economy and Head of the Emirates Tourism Council Abdullah bin Touq Al Marri...
Geostrategy
Kuwait, UN sign MoU to enhance cooperation in counter terrorism
NEW YORK, US - Kuwait Ministry of Foreign Affairs and the United Nations signed a Memorandum of Understanding (MoU) aimed...
Geostrategy
Dubai’s weeklong real estate transactions exceed US$4.2bn
DUBAI, UAE - A total of 4,048 real estate transactions worth over US$4.2 billion (AED 15.6 billion) were conducted during...
Business
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Business
AD Ports signs 30-year pact to operate Congo’s key port
The first phase works, costing $200m, likely to completed in 30 months.
- The Group will provide the facility with digital services and technology solutions to enhance its efficiency
- It will invest more than $500 million in the development and functioning of the “New East Mole Port”
Business
ADNOC L&S gets new VLCC
VLCCs carry almost 2 million barrels of crude per voyage.
- The vessel is the first of four dual-fuel engine very large crude carrier which can also run on liquefied natural gas
- ADNOC L&S has committed approximately $2 billion to build more environmentally efficient vessels.
Geostrategy
Israel defiant amid global criticism over West Bank settlement expansion
UN Middle East envoy Tor Wennesland issued a warning on Monday against changes made by the Israeli government that will...
- Israeli official describes the changes as a reduction of unnecessary administrative procedures
- Defending the changes, Israeli government asserts that Israel is their country, "in its entirety"