Business
solutions by stc, Devoteam ink MoU
The aim is to foster avenues for collaboration in technology.
- The pact follows and builds upon the acquisition by solutions of a 40 percent stake in Devoteam Middle East.
- The collaboration also aims to combine the experience and resources of the parties for mutual benefit.
Business
GPSSA issues circular on pensions, gratuity in UAE
ABU DHABI, UAE – The Emirates General Pension and Social Security Authority (GPSSA) has issued a circular to government and...
- The circular included limiting the procedure of deduction from the pension or end-of-service gratuity for the benefit of GPSSA's debt.
- In cases of unlawful disbursement, GPSSA has the right to deduct from other beneficiaries' shares, proportional to their entitlements.
Business
Several nations eager to join Charter of Cooperation, says OPEC Secretary-General
ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in...
- The names of these countries will be announced after the completion of the ongoing consultations, the OPEC chief said.
- He said the Charter helps facilitate dialogue and exchange views regarding conditions in the global oil and energy markets.
Business
stc Group inks several pacts
The pacts were signed at the PIF’s Private Sector Forum.
- The annual Private Sector Forum brings together policymakers, key local private sector players, visionaries and industry leaders.
- The agreements signed covered a range of strategic stc Group objectives, from sustainability to digital transformation.
Business
Iran agricultural, food exports hit US$4.8bn in 10 months
TEHRAN, IRAN – The country has exported more than 6.7 million tons of agricultural and food products worth US$4.8 billion...
- Of this amount, 4,944,481 tons worth $2,930,585,728 were dedicated to the export of agricultural products.
- While 1,133,710 tons worth US$931,961,158 were dedicated to the export of food products.
Geostrategy
Saudi Arabia’s air defense commander examines Russia’s S-350, S-400 systems
RIYADH, SAUDI ARABIA – The Commander of the Royal Saudi Air Defense Force Lieutenant-General Mazyad bin Suleiman Al-Amr has inspected...
- The Royal Saudi Air Defense Force Commander saw various radars from the Almaz-Antey air defense concern.
- The commander visited the stands of Russian defense industry companies and paid special attention to the air defense systems.
Business
Investment in Qatar free zones reaches US$1.3bn, says QFZ chairman
DOHA, QATAR - Minister of State and Chairman of Qatar Free Zones Authority (QFZ) Dr. Ahmad bin Mohammed Al Sayed...
- The QFZ chairman held a meeting with a delegation led by First Vice-Chairman of Qatar Chamber Mohamed bin Ahmed bin Twar Al Kuwari.
- The delegation paid a field tour to the Ras Bufontas Free Zone to explore the investment benefits and business opportunities within the free zones.
Geostrategy
RTA inks agreement to develop entry/exit points for Dubai Harbor
DUBAI, UAE - The Roads and Transport Authority (RTA) of the Emirate has entered into a strategic partnership with ‘Shamal...
- The bridge extends from Sheikh Zayed Road to Dubai Harbour, an exceptional seafront district that hosts the region’s marina.
- RTA would construct a bridge of two lanes in each direction spanning 1,500 meters and accommodating 6,000 vehicles per hour.
Economy
Number of visitors to Qatar rises 31.9 percent in December, says report
DOHA, QATAR - The total number of inbound visitors to the country reached about 519 thousand in December 2023, recording...
- Qatar Monthly Statistics bulletin said the highest number of visitors was from the Gulf Cooperation Counci at 33 percent.
- According to the bulletin, the total number of registered new vehicles in December 2023 has reached 3,390 new vehicles.
Geostrategy
UAE allocates US$5m for UN’s humanitarian efforts in Gaza
ABU DHABI, UAE – As per the directives of President Sheikh Mohamed bin Zayed Al Nahyan, Minister of Foreign Affairs...
- The UAE is keen to support the humanitarian operations being carried out by the United Nations in the Gaza Strip.
- The UAE stressed on the need to prevent further loss of life and avoid inflaming the situation in the Palestinian territory.
Company News
Borouge proposes share buyback
Business
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Meraas awards $544m contract
Business
Bank credit to Saudi public and private sectors up by $105 billion: SAMA
Riyadh, Saudi Arabia -- Total bank credit granted to the public and private sectors in Saudi Arabia reached its highest...
Business
Travel and tourism sector contributes 11.4 percent to Gulf’s GDP
Muscat, Oman -- Travel and tourism sector's contribution to the Gulf's GDP by the end of 2024 reached approximately 11.4 percent,...
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Economy
Trump’s tariffs shake up MENA economies, hitting allies, adversaries, oil trade and emerging industries: Report
Trump's sweeping tariffs are reshaping trade dynamics across MENA, impacting oil-exporting Gulf nations like Saudi Arabia, UAE and Qatar, according...
- Gulf oil producers face indirect hits as tariff fears lower global oil demand and prices
- Small businesses across MENA confront rising costs, disrupted supply chains, and uncertainty
Business
UAE tourism generates $12.24bn in hotel revenues in 2024: Minister
Abu Dhabi, UAE -- Hotel revenues in the UAE reached approximately AED 45 billion ( $12.24 billion) in 2024, reflecting...
- Hotel occupancy rates also climbed to 78 percent last year, ranking among the highest both regionally and globally.
- The minister said that the number of hotel guests across the UAE reached approximately 30.8 million in 2024, reflecting a 9.5 percent growth.
Business
Abu Dhabi’s non-oil foreign trade grows by 9% in 2024 to $83bn
Abu Dhabi, UAE -- Abu Dhabi Customs reported a 9 percent increase in the emirate’s non-oil foreign trade in 2024,...
- Non-oil exports soared 16 percent in 2024, reaching AED 107.8 billion compared to AED 93 billion in 2023.
- Re-exports grew by 11 percent to exceed AED 58 billion, compared to AED 52.4 billion in 2023, while imports grew by 3 percent to AED 140.2 billion.