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
Aramco expected to post $44bn profit in Q2: report
Al-Rajhi Capital which has analyzed the performance of all industrial sectors expects Saudi-listed companies to see mixed earnings in Q1...
- Al-Rajhi Capital which has analyzed the performance of all industrial sectors expects Saudi-listed companies to see mixed earnings in Q1 2022, amid rising oil prices
- The profit of the chemical giant Saudi Basic Industries Corp’s (SABIC) is forecast to slightly slip by 1 percent to SR7.6 billion
Analysis
Digital health sector to cross $230bn in five years
Healthcare will play a significant role in building and empowering the new generation of governments, said Mohamed Yousef AlSharhan, Deputy...
- Increased adoption of digital-health technologies is expected to unlock an estimated US$230 billion globally - including US$10 billion in the Middle East - over the next five years
- Healthcare will play a significant role in building and empowering the new generation of govts, says Mohamed Yousef AlSharhan, Deputy Managing Director of WGS Organization
Business
New multilateralism likely to define global trade in 2022: DMCC report
Global trade hit a record high of $28.5 trillion in 2021, with more growth expected in 2022. The future also...
- Geopolitics will shape the trade landscape in the 2020s, building on new developments in regionalism, bilateral trade, and global investment flows.
- Pent-up demand from the COVID-19 shock is already driving trade in goods; a rebound in trade in services is set to follow.
Business
Emerge, Miral to install solar energy at Abu Dhabi theme park
Emerge and Miral signed an agreement to deploy on-site solar energy systems at the SeaWorld Abu Dhabi theme park on...
- The project will have a capacity of 8.2 megawatts (MW) with rooftop solar photovoltaic (PV) systems installed at the theme park.
- Emerge will provide a full solution including design, procurement, and construction, as well as operation and maintenance services.
Business
Tabadul: GCC region’s first digital exchange hub launched
Based on the mutual market access model, Tabadul will allow investments across Bahrain Bourse and Abu Dhabi and enable investors...
- Tabadul will be accessible to all investors registered with eligible local brokers and who have filled out the requisite KYC documents required by exchange in their countries.
- Securities on Tabadul are traded in respective exchange’s local currency, and in specified currency of the traded asset for some cases, with no minimum amount required for orders.
Business
AD Ports Group, SEG sign MoUs
A logistics and freight business and food trading hub will be built in Uzbekistan.
- The logistics venture will deploy new technology and specialised processes to address the challenges caused by Uzbekistan's double-landlocked geographical location.
- Based upon the 'Regional Food Hub – Abu Dhabi' currently under development in KIZAD, AD Ports Group will share their expertise towards the food trading hub.
Economy
Saudi non-oil economy shows improvement in June: S&P Global
Saudi Arabia's non-oil economy has recorded a strong improvement in business conditions in June, according to the latest Purchasing Managers...
- Business has grown at the sharpest rate for eight months, despite evidence that intensifying cost pressures had led companies to mark up their prices
- At the same time, the report conveyed Saudi Arabia’s rapidly rising costs, an increase in the prices of raw materials and fuel
Business
EPG, Hub71 to help tech startups advance Abu Dhabi logistics sector
Emirates Post Group (EPG) and Hub71, Abu Dhabi’s global tech ecosystem, will partner to provide tech startups in the Emirate...
- As part of the agreement, EPG will also provide mentorship for startup founders and support the development of Proof of Concepts.
- EPG-backed startups will also gain the ability to join Hub71’s vibrant community.
Economy
UAE Minister discusses development of fisheries sector
UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri held a meeting with the heads of fishermen's...
- The minister met with groups of fishermen and heads of fishermen's associations
- She discussed challenges, opportunities and development in the UAE's fisheries sector
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
Company News
Latest News
Dubai conference explore ways to nullify environment challenges
This is especially important with the ongoing preparations for the UAE to host the 28th Conference of the Parties by...
Science
GCC’s digital economy forging ahead rapidly, says Oman IT minister
Muscat, Oman - Saeed bin Hamoud Al Maawali, Omani Minister of Transport, Communications and Information Technology, has said that the...
Business
UAE, Morocco discuss ways to boost cooperation in energy, industry
Rabat, Morocco - UAE and Morocco discussed ways of boosting their cooperation and investment opportunities in industry, economy, investments, culture,...
Business
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Arts & Culture
DEWA wins top award by UK based institute
Dubai, UAE - Dubai Electricity and Water Authority (DEWA) won the Best Creative Electricity and Water Solutions Brand by Global...
- Saeed Mohammed Al Tayer, MD and CEO of DEWA, expressed his happiness with the award
- DEWA received many accolades in excellence in 2021, including winning the Sheikh Khalifa Excellence Award (SKEA) in the Elite Category.
Business
AD Ports signs pacts with Kyrgyzstan to promote trade with Central Asia
Abu Dhabi, UAE--- AD Ports Group has signed two major agreements with the Government of Kyrgyzstan to promote trade and...
- Under the first pact, 300,000 sqm land within KEZAD will be secured to develop and operate a logistics hub and customs area.
- Under the second agreement, Maqta Gateway will initiate a strategy for the Ministry of Finance for developing a customs and border management solutions.
Business
Saudi fund launches program to assist real estate finance companies
Riyadh, Saudi Arabia---Saudi Arabia’s Real Estate Development Fund has launched a program to provide short and medium term financial facilities...
- The kingdom aims to raise the percentage of home ownership to 70 percent by 2030 under its Vision 2030 program.
- The financing program is also aimed at stimulating the mortgage market in line with the requirements of the Saudi Refinancing Company.