Construction in China-Saudi Arabia ethylene project begins
FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries...
Business
Business
Dubai Chambers holds meet to enhance its role in economy
Chairman of Dubai Chambers met with heads and members of business groups to discuss new ways the Chamber can enhance...
- Dubai Chambers discuss new ways to strengthen public-private sector partnerships
- It discusses different ways the Chamber can enhance its role in the emirate’s economy
Business
ADDED grants lease contract exemption for one year to 1,200 actiivities
A total of 1,200 economic activities have been granted one-year exemption from a lease contract for work premises as a...
- The economic activities included in this initiative represent 29.5 percent of total economic activities licensed and regulated by ADDED, which reached 4,062 by the end of 2021.
- ADDED said it has launched many initiatives to ensure ease of doing business, including slashing business set-up and renewal fees by over 94 percent.
Business
‘Jordan’s industries have potential to access Algerian market’
Jordan's industrial goods have a great opportunity to gain a foothold in the Algerian market, president of the Jordan and...
- Leather, textile, medical supplies, chemicals, food, agricultural and livestock industries can access the Algerian market
- There is a need for opening a direct maritime transport route between Jordan and Algeria
Economy
UAE to announce 3,000 housing loan beneficiaries during 2022
UAE will announce 3,000 beneficiaries of housing loans during 2022, taking 500 housing decisions per month that will announce the...
- The new policy includes 500 decisions worth AED400 million, according to Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure.
- A total of 500 decisions on housing loans will be taken per month.
Business
Tadawul launches single-stock futures trading
Tadawul has posted more than 30 trades in single-stock futures on its launch as Aramco and Saudi Telecom Co. led...
- Aramco futures logged a trading volume of 20 so far with a value of SR76,200 ($20,304), while stc posted 10 trades worth SR97,700
- The launch of single-stock futures as Tadawul’s second derivatives product — after launching index futures in 2020 — comes amid efforts to bolster liquidity
Business
Dragon Oil extends Turkmenistan contract for 10 more years
The Cheleken complex, located in the East Caspian Sea in Turkmenistan, is the main producing asset of Dragon Oil.
- The Cheleken complex, located in the East Caspian Sea in Turkmenistan, is the main producing asset of Dragon Oil
- Over the past decade, Dragon Oil has evolved from a single-origin oil and gas company operating in Turkmenistan only, to a global operator
Business
ADDED, GE Digital to fast-track digital shift in Abu Dhabi’s manufacturing sector
ADDED and GE Digital will collaborate to adopt circular economy strategies “to drive a more productive, competitive, advanced, and innovative...
- ADDED and GE Digital will collaborate to adopt circular economy strategies “to drive a more productive, competitive, advanced, and innovative sector.”
- The UAE’s manufacturing sector plays a pivotal role in the diversification of the national economy, with Abu Dhabi accounting for 40 percent of that
Business
Innovest of KSA exits Misk Tarout
The Saudi firm earned $8m in profit in the last three months.
- The Alkhobar-based real estate firm confirmed its profit from the exit process will be calculated in the company’s financial statements for the second quarter of 2022
- The exit will also enhance its direction in implementing targeted profitability and growth plans, CEO Essam Bukhamseen said
Economy
Jordan, Japan ink pact to build AI ecosystem in Jordan
The two parties agreed on the general framework of the project in addition to a draft record of discussions and...
- The two parties agreed on the general framework of the project in addition to a draft record of discussions and the structure of the initial implementation
- The pact is in line with the objectives of the Jordanian Artificial Intelligence Policy seeks to adapt, deal and harness AI to serve the Jordanian economy
Economy
Saudi Arabia, UAE try to ease inflation pain of citizens
"A generous royal order was issued approving the allocation of financial support in the amount of SAR 20 billion (around...
- Saudi Arabia is disbursing billions of dollars directly to citizens to ease the effects of inflation
- The UAE has doubled the budget for its social security programme to AED 28 billion after a rise in fuel prices
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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
Construction in China-Saudi Arabia ethylene project begins
FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries...
Business
Company News
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Saudi PIF acquires 9.5% stake in offshore wind energy developer Skyborn
Dubai---Saudi Arabia's sovereign wealth fund, the Public Investment Fund, had acquired a 9.5 percent stake in Skyborn Renewables, an offshore...
Business
Saudi Crown Prince meets Jordanian PM in Riyadh
Earlier on Monday, Jordanian-Saudi ministerial meetings were held to discuss bilateral cooperation in various fields.
Geostrategy
Turkey discovers 150m barrels of oil reserves worth $12bn: Erdogan
Erdogan said Ankara aims to increase its daily production to 100,000 barrels by the centennial of the Republic of Türkiye.
Economy
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Business
Saudi communications ministry inks MoU with Huawei
Under the terms of the agreement, the Ministry and Huawei will collaborate to realize a '10Gbps Society', to build a...
- Under the terms of the agreement, the Ministry and Huawei will collaborate to realize a '10Gbps Society', to build a superfast broadband infrastructure
- Huawei will work with the Ministry to support digital entrepreneurs working on smart cities, IoT, AI, gaming, fintech, e-commerce, and blockchain projects
Economy
Dubai International Chamber launches three new offices in Cairo, Tel Aviv, Istanbul
The formal inauguration of the representative office in Tel Aviv will take place in the Israeli capital on December 13.
- The formal inauguration of the representative office in Tel Aviv will take place in the Israeli capital on December 13
- International offices have a dual mission of supporting and guiding Dubai companies through every stage of their global expansion
Economy
Jordan and Saudi Arabia to boost cooperation, strategic ties
Amman, Jordan— Jordan and Saudi Arabia held discussions on enhancing bilateral cooperation in various fields and boosting strategic ties between...
- Both countries reaffirmed their keenness to enhance cooperation and bilateral integration, and to leverage available and joint opportunities in various fields
- The two sides discussed projects that would deepen bilateral cooperation in economic, investment, trade, energy, water, and transportation