Saudi Arabia to imprison, fine people for helping, employing illegal immigrants
RIYADH, SAUDI ARABIA – The Directorate of Public Security stressed that anyone who facilitates the entry, transfer or employment of...
Geostrategy
e& pledges $6 billion to advance connectivity in 16 countries
Barcelona, Spain -- e& Friday pledged to invest $6 billion between 2024 and 2026 in technological advancement, infrastructure development, and...
Business
Business
GCC countries review cybersecurity policies in virtual meeting
The countries discussed working papers on global best practices on a number of issues related to the work of the...
- The countries discussed working papers on global best practices on a number of issues related to the work of the committee
- Saudi Arabia was represented by its National Cybersecurity Authority (NCA), a competent authority for cybersecurity in the Kingdom
Geostrategy
Macron welcomes Saudi Crown Prince, two discuss energy supply
French President Emmanuel Macron on Thursday warmly welcomed Saudi Arabia's Crown Prince Mohammed bin Salman for talks in Paris, with...
- Crown Prince and the French President held an expanded meeting in the presence of the delegations of the two countries, according to Saudi Press Agency
- For western countries desperate to find new sources of energy, the 36-year-old de-facto leader of the world's biggest oil producer has become an essential figure.
Geostrategy
Saudi Crown Prince ends Europe trip with deals, MoUs
Strategic partnership remains in focus as Mohammed bin Salman leaves France after heading a wide-ranging talks along with French President...
- Strategic partnership remains in focus as Mohammed bin Salman left France today after heading a wide-ranging talks along with French President Emmanuel Macron
- Earlier, a delegation of senior Saudi ministers held separate talks with their French counterparts at at the Elysée Palace
Economy
US Department of State releases 2022 Investment Climate Statements
The US Department of State released on Thursday the 2022 Investment Climate Statements, which help US companies make informed business...
- These help US companies make informed business decisions by providing up-to-date information on the investment climates of more than 160 countries.
- The statements also assess how governments uphold international labor standards and combat corruption among other considerations.
Geostrategy
UAE, Kenya to begin negotiations on free trade agreement
UAE and Kenya announced their intention to begin talks for a Comprehensive Economic Partnership Agreement (CEPA) between the two countries...
- UAE and Kenya announce their intention to begin talks for a Comprehensive Economic Partnership Agreement
- If inked, the CEPA pact will be the first free trade deal between UAE and an African nation
Business
Aldar Properties profit up 44 percent
Net Profit of Aldar in Q2 2022 amounted to $229 million.
- Aldar's group sales rose to a record level of AED 5.33 billion ($1.45bn) for H1 2022.
- Sales surge was driven by strong domestic and international demand for existing inventory.
Business
ADNOC eyes stake in key Egypt firm
ADNOC Distribution will acquire 50 percent stake in TotalEnergies Egypt.
- ADNOC Distribution said it will acquire a 50 percent stake in TotalEnergies Egypt for about US$186 million
- The acquisition will also see the refurbishment of several service stations to full ADNOC branding
Business
FAB profit up 50 percent
The company's net profit amounted to $2.18 billion.
- FAB said the total income was AED12.5 bn, up 31% year-on-year
- Customer deposits reached AED648 billion, up 8% sequentially
Business
Etihad profit for H1 $296 million
The profits rose despite 60 percent hike in fuel costs.
- Etihad carried 4.02 million passengers in H1 2022, over 3 million more than last year (H1 2021: 980,000), with an average seat load factor of 75 percent.
- Passenger loads increased consistently over the first six months, rising by 21.9 percentage points as travel demand recovered.
Business
UAE’s Central Bank sanctions 6 banks operating in the country
Financial sanctions covers banks’ failures to achieve appropriate compliance regarding required due diligence and reporting procedures and standards. All banks...
- CBUAE implemented certain provisions of Common Reporting Standard (CRS) for the sanctions.
- Banks were sanctioned after failing to comply with due diligence and set standards and procedures.
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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
Saudi Arabia to imprison, fine people for helping, employing illegal immigrants
RIYADH, SAUDI ARABIA – The Directorate of Public Security stressed that anyone who facilitates the entry, transfer or employment of...
Geostrategy
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UAE, Pakistan discuss ways to enhance mutual trade, investment
The UAE accounts for over 40% of Pakistan's trade with Arab countries, with non-oil exports from the UAE to Pakistan...
Business
SEWA discusses water desalination technologies for sustainability
SHARJAH, UAE - Sharjah Electricity, Water and Gas Authority (SEWA) participated in a discussion on modern and innovative technologies in...
Science
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Science
EU unveils plans to scale up net-zero technology
BRUSSELS, BELGIUM- The European Commission proposed the Net-Zero Industry Act to scale up manufacturing of clean technologies in the EU...
- The Act aims to enhance the resilience and competitiveness of net-zero technologies manufacturing in the EU, while making energy system more sustainable.
- EU seeks to increase overall strategic net-zero technologies manufacturing capacity approaches or reaches at least 40 percent of the Union's deployment needs by 2030.
Business
JCC discusses trade, commerce in economic summit in France
AMMAN, JORDAN - The Jordan Chamber of Commerce (JCC) took part in the fourth Arab-French Economic Summit 2023 in Paris....
- Jordan Chamber of Commerce spoke of closer ties with trade and commercial bodies in the European Union member states.
- Topics like environment and water, industry, modern construction projects, food, nutrition, healthcare, banking, medicine, funds, climate were discussed.
Business
UAE issues license for electric vertical takeoff and landing aircraft
DUBAI, UAE - The UAE Regulations Lab has issued a license for an electric cargo aircraft to promote eco-friendly transportation...
- The license aims at reducing carbon emissions by encouraging the adoption of clean energy and leveraging technology.
- It also aims at using innovation to redefine the logistics sector's future and its impact on the environment and climate.