UAE, NeoNautica collaborate to develop Blue Pass platform
DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in...
Business
Business
Masdar, TANESCO JV to develop renewable energy projects in Tanzania
As a first step, the two companies intend to develop solar photovoltaic (PV) and onshore wind projects with a capacity...
- As a first step, the two companies intend to develop solar photovoltaic (PV) and onshore wind projects with a capacity of about 600MW
- The joint venture will further explore the development of projects with a total capacity of at least 2,000MW
Business
PIF of Saudi Arabia sets up investment firm in Egypt
Saudi Arabia's Public Investment Company (PIF) has established a new company in Egypt to drive investment in the north African...
- The new company will look at sectors as wide as infrastructure, real estate development, and health care to make investments
- PIF and its portfolio companies, along with the Saudi private sector, will have access to a variety of investment opportunities in Egypt
Economy
Jordanian Senate examines draft investment law
Jordan Senate's Finance and Economic Committee hosted an expert in economic affairs at the National Democratic Institute (NDI), to look...
- Jordan Senate's Finance and Economic Committee examines the draft law regulating the investment environment in the country.
- Investment-related laws should streamline business procedures, economic activities, spur investment and enhance competitiveness of the economy
Economy
FDIs in the UAE grew 116% from 2012 to 2021
According to a report by the UAE's Ministry of Economy, during the past decade from 2012 to 2021, FDIs in...
- FDI in the UAE witnessed significant growth, from $9.5billion in 2012 to $20.6 billion in 2021
- The UAE was ranked 19th globally in the list of top 20 countries that attract FDIs
Economy
Dubai’s weeklong real estate transactions total $1.4bn
In Dubai, the real estate and properties transactions valued at $1.4 billion in total during the week ending 05 August...
- In Dubai, 255 plots were sold for $337 million, 1,510 apartments and villas for $759 million
- During the week, the total number of transactions was 2,247
Economy
UAE to set up country’s first Industry 4.0 Enablement Centre
UAE will set up the country’s first Industry 4.0 Enablement Centre aimed at promoting, enabling, and supporting the digital transformation...
- The UAE ministry of industry and advanced technology will explore how the Enablement Centre can leverage what has been achieved by the EDGE Learning & Innovation Factory.
- Its offerings include learning, innovation, and demonstration to the wider industrial ecosystem.
Geostrategy
Iraq confirms Turkey’s intention to enhance water release
Iraq's Ministry of Water Resources said Ankara's intends to increase the quantum of water to be released to the Tigris...
- Iraq's Ministry of Water Resources said that Turkey will increase the quantum of water to be released in the Tigris River
- The ministry said that a Turkish delegation will visit Iraq to look into the water reserves and construction of dams
Business
Saudi ministry signs smart transportation MoU with Alstom
Saudi Arabia’s Ministry of Investment has signed a memorandum of understanding with Alstom, which specializes in the sustainable and smart...
- The MoU aimed exploring investment opportunities in the transport sector and localize the manufacture and maintenance of trains.
- The MoU also entails Alstom to establish its regional headquarters in the kingdom.
Business
Global H1 air cargo demand up 2.2 percent over pre-Covid levels
Global air cargo demand rose by 2.2 percent in H1 2022 as compared to pre-COVID levels (H1 2019), according to...
- IATA figures indicate a healthy and stable performance across global air cargo markets showing.
- Global demand sunk by 6.4 percent compared to June 2021 levels (-6.6 percent for international operations).
Jordan approves charter for Artificial Intelligence ethics
A cabinet session headed by Prime Minister Dr. Bishr Khasawneh, passed the charter and circulated the document to all ministries...
- A cabinet session headed by Prime Minister Dr. Bishr Khasawneh, passed the charter and circulated the document to all ministries and public institutions
- The charter also seeks to find a common ethical base that regulates development of artificial intelligence technologies, based on human and religious values
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UAE, NeoNautica collaborate to develop Blue Pass platform
DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in...
Business
Company News
Latest News
UAE energy ministry awards DEWA for research, innovation
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has been awarded first place in UAE Ministry of Energy and...
Business
UN chief calls for protection of biodiversity on International Mother Earth Day
NEW YORK, US - UN Secretary-General António Guterres issued a statement calling for urgent action to protect the environment and...
Science
Best chance for peace in Yemen in eight years, says UN envoy
Yemen faces its best chance to strike a peace deal since the country's civil war started over eight years ago,...
Geostrategy
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Geostrategy
Cementing ties: Iran invites Saudi Arabia’s king to visit Tehran
The two countries had severed ties seven years ago after Saudi Arabia executed a revered Saudi shia cleric Sheikh Nimr...
- The two Middle East powerhouses had held several rounds of dialogue in Iraq and Oman before reaching the agreement to mend ties on March 10 in China.
- Saudi delegation to visit Iran to discuss the reopening of the embassy and consulate. Iranian officials say diplomatic mission likely to open before May 9.
Business
Delegation highlights investment opportunities in Ras Al Khaimah
RAS AL KHAIMAH, UAE - A delegation from Ras Al Khaimah Economic Zone (RAKEZ) has concluded its visit to Russia...
- RAKEZ delegation met people from construction, manufacturing, information technology and fast-moving consumer goods trading.
- The audience in Russia was keen on exploring sectors such as cement, building materials, engineering services and raw materials trading.
Economy
UAE minister stresses G20 and COP28 collaboration at WBG meet
The members also exchanged views on progressing the implementation of Multilateral Convention to Implement Tax Treaty Related Measures to Prevent...
- Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, led the UAE delegation at the meeting, held on the sidelines of the 2023 Spring Meetings.
- Ministers of Finance and Central Bank Governors from G20 member countries, invited countries, and international organizations attended the meeting.