Oil may rise to $100, gold to hit $3,000 by 2025, says Citi
ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce...
Economy
Business
Saudi center to auction industrial properties in Riyadh
Saudi Arabia's Center for Attribution and Liquidation "Infath" will auction quality real estate in Riyadh on August 1, a media...
- The auctions offer 14 industrial real estate assets in eastern Riyadh, with large total areas estimated at more than 80,000 square meters.
- The real estate consists of three industrial lands in Al-Sulay district licensed to establish industrial workshops, and 11 lands licensed to establish warehouses.
Business
Borouge 4 expansion on track
EPC contractors are set to start construction this month.
- Upon completion, the project will boost the total annual production capacity of polyolefins produced in the UAE to 6.4 million tons.
- It will also supply feedstock for the TA'ZIZ Industrial Chemicals Zone.
Business
Saudi Arabia to pour in $5bn in poultry industry
Saudi Arabia will pour in $5 billion in the poultry industry in order to boost production as the kingdom looks...
- By targeting 1.3 million tons of broiler chickens per year, the ministry will ensure national food security, increase local content, and create employment opportunities
- Ibrahim Qassem, the director-general of the Animal Resources Services at MEWA, told media that the volume of livestock projects exceeded 980 across all regions of the kingdom
Business
SAIB shares vault more than 2%
The stock rose after it declared cash dividends of $80 million.
- The bank’s stock touched SR20.88 on Sunday, up from an opening price of SR20.5
- Last year, SAIB paid an annual dividend of SR0.7 per share – the highest in years after freezing dividends for two straight years
Geostrategy
Iraq seeks to boost relations with Algeria in multiple sectors
Prime Minister Mustafa Al-Kadhimi affirmed Saturday Iraq aspires to strengthen the relations with Algeria in various fields. "PM Al-Kadhimi received...
- The Algerian Foreign Minister noted his country's desire to enhance communication with Iraq.
- Both the countries are looking to face common challenging issues like energy and food security.
Geostrategy
Sharjah Education Council reveals new educational strategy
The Sharjah Education Council launched its 2023-2025 strategy at a meeting held at its headquarters in Sharjah, in cooperation with...
- The strategy was prepared after considering various aspects of stages of the council’s strategic plan.
- Sharjah Education Council said the council's strategy is a result of changing educational standards.
Arts & Culture
Iraq receives 125 antiquities borrowed from Germany
Iraq has received 125 antiquities borrowed from Germany, Foreign Ministry spokesman Ahmed Al-Sahaf announced Sunday. "The Embassy of the Republic...
- Iraqi ambassador to Germany Luqman Abdel Rahim Al-Faili praised the efforts of the Institute of Archeology.
- Al-Faili wished continued cooperation with the German side in the cultural field and archaeological excavations.
Economy
Dubai most expensive city in Arab world
Mercer’s 2022 Cost of Living City Ranking ranks the emirate the 31st most expensive city in the world.
- Mercer survey is aimed at providing employers data to help them navigate compensation strategies for their mobile employees in the world.
- Urkaine conflict, rising inflation and volatility of markets has affected the cost of living for most of the people in the world.
Economy
Dubai to provide 2,000 residential plots at Umm Nahad Fourth
The Higher Committee for Development and Citizens Affairs, chaired by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince...
- The Higher Committee for Development and Citizens Affairs approved immediate allocation of 2,000 residential plots at Umm Nahad Fourth area
- The step comes as part of the Housing Program for Dubai Citizens to meet the requirements and needs of Emirati families
Business
Center to combat financial fraud inaugurated in Saudi Arabia
A Joint Operations Center for Saudi Banks tasked with following up and monitoring cases of financial fraud that bank customers...
- The center brings together all Saudi banks under one roof to improve the customer experience and tackle confirmed cases of financial fraud.
- The Center’s establishment came from from the Saudi Central Bank’s support for the stability of the banking sector, said SAMA governor.
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
Company News
Latest News
RAKEZ supports F&B industry investors to set up, expand in UAE
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) is participating in the Gulfood exhibition to showcase its...
Business
Amwaj merges with Shaqab, Atyab
Qatar-based Gulf International Service has successfully accomplished the merger.
Business
Most Read
Business
International Defense Conference 2023 to begin in Abu Dhabi
Abu Dhabi, UAE - The International Defense Conference 2023 will be held on 19th February at the ADNOC Business Centre...
- The event will shed light on the rapid development of artificial intelligence and advanced technologies.
- The previous edition of IDC was held in 2021, brought together 24 international experts, over 400 on-ground participants.
Geostrategy
UAE and Japan to boost collaboration in skill development
The two sides reaffirmed their keenness to advance bilateral cooperation in the fields of human resources and skill development.
- The two sides reaffirmed their keenness to advance bilateral cooperation in the fields of human resources.
- The meeting also reviewed the legislation and procedures regulating the UAE labor market.
Science
DEWA cleans beach, plants mangrove as part of 26th National Environment Day
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) participated in a campaign to clean the beach and plant mangroves...
- DEWA organized virtual environmental lectures in Arabic and English, in cooperation with Dubai Municipality.
- More than 250 DEWA employees and their families participated in the event.