OIC to hold extraordinary meeting on Israeli aggression on March 5
Jeddah, Saudi Arabia - The Organization of Islamic Cooperation (OIC) will hold an extraordinary meeting of its Council of Foreign...
Geostrategy
Binaa Al Bahrain aims to create expansive mixed-use projects
ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al...
Business
Business
IFZA, CBD ink banking deal
Opening corporate bank accounts to become easier for free zone firms.
- The free zone companies will now be able to also obtain personalized services.
- A study by Dubai Chamber of Commerce said entrepreneurs face a lot of issues in opening a corporate bank account in UAE.
Business
Tabreed H1 profit $65 million
The profit saw an increase of 3 percent over H1 2021.
- Total connected capacity reached 1,241,331 Refrigeration Tons (RT); 31,235 Refrigeration Tons (RT) of new customer connections added.
- Group revenue increased by 12.3 percent to AED 975.7 million (H1 2021: AED 869.0 million).
Economy
More than 10 million visit UAE govt portal in first half of this year
The Telecommunications & Digital Government Regulatory Authority (TDRA) said that over 10 million people visited the Official Portal of the...
- Over 24 million pages were viewed through the visits to U.AE portal in H1 of 2022
- These results indicate the high value of U.AE as a prime source of information and services
Infographics
Beirut named most expensive city in Arab world
The cost of living in Beirut is also more than its purchasing power, which is the lowest among Arab cities....
- Cost of Living Index measures compares expenses an average person incurs on goods and services in different regions.
- The Index is also used to track how much the costs of basic expenses rise over a period.
Market Report
ADX market value rises in Q2, 2022 to US$542.42bn
Abu Dhabi Securities Exchange has recorded its highest rise in terms of market value and trading value at end of...
- The ADX ranked first in Arab region in terms of market value increase, says the Arab Monetary Fund
- The Abu Dhabi Securities Exchange rose from $513.19bn at the end of Q1 of 2022 to $542.42bn in Q2 of 2022
Business
‘Most IT security officials believe firms threat strategy poor’
A global survey conducted among 2,100 IT Security Decision Makers (ITSDMs) reveals that 60 percent of respondents believe their organizations...
- Only 16 percent of respondents in the UAE and Saudi Arabia say they are able to keep pace with the threat landscape
- Most organisations (91 percent) surveyed in the UAE and Saudi Arabia experienced identity-related security breach in the past 18 months.
Business
NMDC, James Fisher sign MoU
They will collaborate on key oil and gas projects.
- The two groups will focus initially on exclusive diving projects in the Middle East and turnkey decommissioning opportunities in the North Sea and internationally.
- They will develop a series of collaborative joint ventures and consortia to deliver major projects across multiple sectors, markets, and geographies.
Business
Aldar acquires Doubletree
DoubleTree by Hilton Resort & Spa Marjan Island is a beachfront resort.
- The property, which benefits from above-market average occupancy levels, is located on the first section of Al Marjan Island, a growing tourism hub.
- Aldar now has a total of over 4,250 keys, and brings Aldar’s total investment in Ras Al Khaimah to AED2 billion.
Business
Komainu set to bring digital asset custody services to Dubai
The Government of Dubai’s Virtual Assets Regulatory Authority (VARA) on Wednesday granted provisional regulatory approval to Komainu.
- The Government of Dubai’s Virtual Assets Regulatory Authority (VARA) on Wednesday granted provisional regulatory approval to Komainu
- Komainu acts as a key gatekeeper to institutions gaining exposure to the digital asset industry with the provision of secure and regulated digital asset custody services
Business
ADNOC awards $2bn in contracts
The contracts were awarded to ADNOC Drilling.
- The contracts comprise $1.3 billion (AED4.89 billion) for integrated drilling services and fluids and $711 million (AED2.6 billion) for providing four Island Drilling Units.
- A third contract, valued at $681 million (AED2.5 billion), was also awarded to ADNOC Logistics & Services for providing offshore logistics and marine support services.
Most Read
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
OIC to hold extraordinary meeting on Israeli aggression on March 5
Jeddah, Saudi Arabia - The Organization of Islamic Cooperation (OIC) will hold an extraordinary meeting of its Council of Foreign...
Geostrategy
Company News
Latest News
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...
Business
etisalat by e& announces first 5G satellite communications in UAE
ABU DHABI, UAE - etisalat by e& announced on Saturday the implementation of the Eutelsat Quantum satellite solution, becoming the...
Business
UAE minister meets UN Secretary-General on global climate action
NEW YORK, US - Minister of Industry and Advanced Technology and COP28 President-Designate Dr. Sultan bin Ahmed Al Jaber met...
Geostrategy
Most Read
Business
Saudi Arabia meet discusses upcoming GCC-UK free trade negotiations
Riyadh, Saudi Arabia -- A meeting was held in Riyadh Thursday to prepare for holding the third round of free...
- The negotiations are scheduled to take place from March 12 to March 16, 2023, at the GCC General Secretariat headquarters in Riyadh.
- The meeting was attended by the heads of negotiating technical teams, directors of departments, and coordinators of technical teams.
Arts & Culture
Saudi Arabia’s Film AlUla launches platform for women in cinema, fashion
The launch is part of a year-round program that will allow women filmmakers to collaborate with leading industry professionals and...
- The launch of AlUla Creates is part of a year-round program that will allow women filmmakers to collaborate with leading industry professionals.
- AlUla Creates is part of a wider strategy to develop a film-friendly ecosystem which will include a world-class purpose-built studio.
Geostrategy
UNCTAD rallying global action to assist 46 least developed countries
UNCTAD’s Secretary-General Rebeca Grynspan and Deputy Secretary-General Pedro Manuel Moreno will lead the organization’s delegation to the fifth UN conference...
- UNCTAD is calling for effective debt relief and international support to build stronger productive capacities.
- Least developed countries are the most vulnerable economies in the world, accounting for only 1.3 percent of global GDP.