Germany shares observations on Qatar hosting Autonomous e-Mobility Forum
In its efforts toward sustainable transportation, the German embassy is the first diplomatic representation in Doha to utilize an electric...
Business
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
Business
Maaden to supply phosphate, ammonia to four Indian firms
The Saudi Arabian Mining Company, Maaden, Thursday signed four memoranda of understanding with Indian fertilizer companies to supply phosphate and...
- The company signed MoUs with top Indian companies, under which they will discuss ways to enhance joint cooperation in various fields of growth,
- Ma'aden today exports about 1.7 million tons of phosphate and ammonia products to the Indian market annually.
Geostrategy
Jordan, GCC countries discuss higher education cooperation
Joint Jordan-Gulf Cooperation Council (GCC) working group on the higher education held talks on cooperation and exchange of expertise at...
- The meeting decided that the Jordanian side would draft executive programs and memoranda of understanding (MoU).
- The programs would prioritize areas of academic, student, research collaboration and expertise exchange.
Business
Bahri, stc sign logistics deal
Customs clearance assistance is part of the agreement.
- The stc group has operations in Saudi Arabia, Kuwait, Bahrain, and Oman.
- The contract was signed by Soror Basalom, President of Bahri Logistics and Ali Alhudhayf, Acting VP of Human Resources and Logistics Support at channels by stc.
Business
Abu Dhabi to launch blockchain, virtual assets strategy
The Abu Dhabi Blockchain and Virtual Assets Committee (ADBVAC) held its first meeting under the chairmanship of Mohamed Ali Al...
- The Abu Dhabi Blockchain and Virtual Assets Committee has been formed to look into various aspects of the field
- The committee comprises representatives of major entities and stakeholders active in this field
Economy
ENEC hosts top performing students from Al Dhafra region
The Emirates Nuclear Energy Corporation (ENEC) has hosted a recognition ceremony at the Barakah plant for top-performing students from the...
- The hosting of students reflects ENEC's stand to provide UAE youth with skills to become future leaders of the nation's growing nuclear energy sector.
- The event include an educational tour for students to visit Barakah Plant, the first multi-unit operational nuclear plant in the Arab World.
Business
Dubai real estate market’s July performance best in decade
Dubai real estate market recorded a total of 7,092 transactions in July 2022, which is its best performance in the...
- A total of 7,092 transactions in July 2022 overtook July transaction’s peak in 2013 which recorded 5,024 deals.
- The secondary market recorded the largest transactions, up by 59 percent in terms of volume and 70.60 percent in terms of value.
Business
Raydan posts loss of $6m in H1
The Saudi food company's revenue shot up to $21.33m.
- Its accumulated losses, however, hit $47.73 million at the end of the first six months of the year, representing 53 percent of its capital which amounted to $90.13 million
- According to a bourse filing, the company saw its first-half revenue surge 22 percent to reach $21.33 million
Business
KHC’s profit vaults by 1,162%
Kingdom Holding Co. posted $1.7 billion profit in H1.
- KHC’s revenue more than doubled to $320 million during the same period, thanks to higher hotel and property sales
- During the first half of the current year, KHC closed an $3.41 billion investment program, following the sale of shares to the Saudi sovereign wealth fund
Emirates NBD joins fight against illegal wildlife trade
The banking group is supporting efforts to combat global wildlife trafficking by joining the United for Wildlife financial task force.
- The banking group is supporting efforts to combat global wildlife trafficking by joining the United for Wildlife financial task force
- NBD will work with its peers to promote the welfare and safety of wild animals, Group Chief Compliance Officer Victor Matafonov said
Business
Assets of UAE national firms climbs 10% to $116bn in H1
A total of 74 listed companies listed in the Abu Dhabi Securities Exchange (ADX) accounted for 59.8 percent of total...
- According to the disclosures made by 118 listed companies, their assets increased to $1.289 trillion at the end of June
- The banking sector was the leading contributor, with 17 banks accounting for 69 percent of total assets, valued at $891 billion at the end of June 2022
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Germany shares observations on Qatar hosting Autonomous e-Mobility Forum
In its efforts toward sustainable transportation, the German embassy is the first diplomatic representation in Doha to utilize an electric...
Business
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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
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Business
CBUAE balance sheet rises to US$172bn at end of April 2023
ABU DHABI, UAE - The Central Bank of the UAE's (CBUAE) balance sheet grew by 6.3 percent on a monthly...
- CBUAE says balance sheet increased YoY to US$33 billion against US$138 billion at the end of April 2022.
- CBUAE has US$72 billion for cash and bank balances in April, along with reserved investments to the tune of US$55 billion.
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.