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
Economy
Abu Dhabi non-oil foreign trade $33.75 billion in first half of 2022
The value of the trade-in commodities from normal metals and their products increased to AED24.51 billion, with a growth rate...
- Exports during the first six months of this year increased to 26 percent, at a value of AED49 billion and 479 million, compared to AED39.19 billion in 2021.
- The trade with Saudi Arabia was the highest at AED28.63 billion, with a growth rate of three percent compared to AED27.90 billion recorded during the same period in 2021.
Economy
Ajman Chamber urges members to diversify investments
The ACCI witnessed the signing of a strategic partnership agreement to supply rosewater between Lavish Perfumes with Lecheq Farm Distillery...
- The Ajman Chamber of Commerce and Industry wants members to increase the volume of intra-trade.
- The Chamber also wants members to strengthen international relations between business owners in Ajman and their outside counterparts
Economy
Foreign exchange reserves up at $82bn, says Iraq’s Central Bank
Central Bank of Iraq announced that foreign exchange reserves rose to US$82 billion, while gold reserves exceeded 130 tons.
- Iraq's Central Bank says that its gold reserves exceed 130 tons
- Among the countries with the most gold, Iraq has now reached 30 position
Business
SEWA completes 10-km natural gas line to Al Zubair district
Sharjah Electricity, Water and Gas Authority (SEWA) has completed the implementation of a 10-km line project to connect the natural...
- The natural gas network and pumping stations operate according to the best technical specification, said Amna bin Hadda, Director of the Natural Gas Department.
- She added that the SEWA is keen to encourage the residents of Sharjah to use natural gas as compared to using liquefied gas cylinders.
Saudi Central Bank launches POS between Saudi Arabia, Qatar
Upon the services launch, Mada and NAPS cardholders will be able to carry out POS transactions in the two countries...
- Upon the services launch, Mada and NAPS cardholders will be able to carry out POS transactions in the two countries through the Gulf Payments Network.
- The central bank added in its statement that GCCNET enables GCC bank customers to execute ATM cash withdrawals in the host country’s local currency
Business
Emaar Properties buys Dubai Creek Harbour for $2 billion
Emaar Properties announced Thursday it would fully acquire Dubai Creek Harbour, the major development located along the historic Dubai Creek...
- It is expected that Emaar will profit from 100 million square feet of future development at Dubai Creek Harbour.
- Emaar recorded sales of AED 4.2 billion in 2021 and AED 3.6 billion sales in Dubai Creek Harbour in the first half of 2022
Geostrategy
US continues mediation in Lebanon-Israel maritime border dispute
“Progress towards a resolution can only be reached through negotiation by the two governments,” State Department spokesperson Vedant Patel said.
- “Progress towards a resolution can only be reached through negotiation by the two governments,” State Department spokesperson Vedant Patel said
- Lebanon and Israel are located in the Levant Basin, where a number of big sub-sea gas fields have been discovered since 2009
Geostrategy
US National Security Advisor makes phone call to Kuwaiti PM
During the conversation, the two sides discussed the partnership between the US and Kuwait, regional security.
- During the conversation, the two sides discussed the partnership between the US and Kuwait, regional security
- In a statement, the US NSA said the two leaders discussed the need to turn the UN-mediated truce in Yemen into a lasting settlement
Geostrategy
Qatar renews call for nuclear-free Middle East
The establishment of nuclear-free zones is a key step to boost non-proliferation system and achieve a full nuclear disarmament, says...
- The establishment of nuclear-free zones is a key step to boost non-proliferation system and achieve a full nuclear disarmament, says a top Qatari official
- Over the past decades, five nuclear weapon-free zones have been established that include the commitment of the signatories not to possess nuke arms
Business
Al Dahra, CLAAS sign deal
The two firms will cooperate in agriculture sector.
- Al Dahra Holding Company and the German company "CLAAS" signed an MoU for the cooperation.
- The MoU oversees the purchase of new machines, and maintain appropriate level of after-sales service.
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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
UAE discusses clean energy partnerships with Germany, Netherlands
ABU DHABI, UAE - A senior UAE official of the Ministry of Energy and Infrastructure (MoEI) visited Germany and the...
Geostrategy
MoFAIC, Burjeel Holdings ink MoU on healthcare services
ABU DHABI, UAE - UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC) and Burjeel Holdings have signed a Memorandum...
Business
UAE bank investments at all-time-high of $147 bn in February
Abu Dhabi, UAE - Bank investments in the UAE hit $147 billion by the end of February, the highest level...
Business
Most Read
Business
Alcoa, EGA ink supply pact
Alcoa is now EGA's largest third-party supplier of alumina.
- The agreement, spanning eight years starting in 2024, includes options that enable EGA to procure up to 15.6 million metric tonnes of alumina.
- The pact is the largest alumina supply contract ever signed between the two firms and is one of the largest in the industry, said Alcoa CEO Roy Harvey.
Business
Khalifa Fund partners with Wio Bank
Wio will offer Khalifa members full digital account onboarding.
- The two entities aim to empower SMEs, entrepreneurs and freelancers in Abu Dhabi and the UAE with business banking tools and financial solutions.
- Wio Business will be extending a special promotion of a three-month free subscription plan to over 3,600 members and portfolio companies of Khalifa Fund.
Business
DMCC to open office in Mumbai for Indian firms to expand through Dubai
Leveraging DMCC’s strong regulatory framework and reputation within Indian business circles, the office will provide a one-stop solution for Indian...
- DMCC aims to boost the relationship between the UAE and India in support of the UAE-India Comprehensive Economic Partnership Agreement (CEPA).
- Trade between the UAE and India surged 14 percent after the two countries signed CEPA in 2022.