UAE launches first legally established financial ombudsman unit
Abu Dhabi, UAE – Sanadak, UAE's and MENA region's first legally established independent Ombudsman Unit catering to consumers of financial...
Business
Economy
7.1 GW of renewable energy under production in Saudi Arabia
Saudi Ministry of Energy has put forward renewable energy projects with a production capacity of 7.1 gigawatts (GWs), which are...
- The current production capacity of renewable energy projects is 700 megawatts.
- Energy projects are covered under the National Renewable Energy Program (NREP).
Economy
Abu Dhabi Maritime to sponsor Abu Dhabi International Boat Show
The Abu Dhabi International Boat Show (ADIBS), organized by the Abu Dhabi National Exhibitions Company (ADNEC), has entered into a...
- Abu Dhabi Maritime has a mandate to implement effective maritime services and state-of-the-art infrastructure
- The fourth edition of Abu Dhabi International Boat Show will take place this year from November 24 to 27.
Economy
‘Inflation a concern, equity markets favorable in GCC region’
A survey in the GCC region reveals that almost all the respondents believe that rising inflation will impact their cost...
- A survey in the GCC region reveals that people believe inflation will impact their cost of living by at least 10 percent
- Over 66 percent of the respondents said that they continue to view equity markets favorably
Economy
Over 30,000 visitors attend Al Dhaid Date Festival in Sharjah
The 6th edition of Al Dhaid Date Festival came to a successful conclusion at Expo Al Dhaid, after four days...
- The Al Dhaid Date Festival drew over 30,000 visitors who explored and learnt about the best and finest types of dates
- Sharjah Chamber of Commerce and Industry says it will spare no effort to promote and preserve the historical status of palm trees
Business
SAMA completes e-linking procedures through Tanfeeth program
The Saudi Central Bank (SAMA) has completed electronic linking procedures with the Saudi Center for Economic Business through the “Tanfeeth”...
- This program aims to directly link the technical systems of government agencies and banks operating in the kingdom through the Saudi Central Bank.
- The Central Bank stated that, through the “Tanfeeth” program, it aims to improve and develop joint business with government agencies.
Economy
Saudi Arabia’s overall exports in May 2022 was US$38.5bn
The Kingdom of Saudi Arabia’s overall merchandise exports increased by 83.4 percent in May 2022 compared to May 2021, the...
- Saudi Arabia’s overall merchandise exports increased by 83.4 percent in May 2022 compared to May 2021
- The share of oil exports in total exports increased from 72 percent in May 2021 to 80.6 percent in May 2022
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
UAE launches first legally established financial ombudsman unit
Abu Dhabi, UAE – Sanadak, UAE's and MENA region's first legally established independent Ombudsman Unit catering to consumers of financial...
Business
Company News
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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
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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.