Space economy set to triple to $1.8trn by 2035, reveals new research
The growth of the space industry will largely be built upon the increased reach of space-based and/or -enabled technologies, such...
RAKBANK, DP World sign pact
The aim is to offer trade finance solutions to businesses in UAE.
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
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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
Space economy set to triple to $1.8trn by 2035, reveals new research
The growth of the space industry will largely be built upon the increased reach of space-based and/or -enabled technologies, such...
Company News
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OFID, partners offer $60m loan to Tanzania for renewable energy
VIENNA, AUSTRIA - A new US$60 million loan by the OPEC Fund for International Development (OFID) and partners is expected...
Economy
Covid and Ukraine have badly hit UN sustainable goals progress
Geneva, Switzerland - United Nations Conference on Trade and Development (UNCTAD) said the COVID-19 pandemic, Ukraine crisis and the climate...
Economy
Cruise visitors to Qatar in 2022-23 rise 151 percent
DOHA, QATAR - New data from Qatar Tourism (QT) revealed that the country welcomed 253,191 cruise visitors during its 2022-23...
Business
Most Read
Geostrategy
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...
- The UAE is keen on developing tourism ties with countries and building partnerships in fields that supports economic, social growth and prosperity.
- The UAE had adopted a forward-looking vision to develop a distinguished tourism sector at the regional and global levels.
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...
- A training program for Kuwaitis and the establishment of special workshops in the field of combating terrorism was discussed.
- The country has tried to strengthen global partnerships in combating terrorism, Kuwait's assistant minister said.
Business
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...
- The records show that 278 plots were sold for US$473 million, while 2,965 apartments and villas were purchased for US$1.9 billion.
- The top transaction was that of a plot of land in Wadi Al Safa 3 which sold for US$24 million, the records revealed.