Saudi Arabia’s oil exports fall by $13 billion in fourth quarter of 2023
In December, oil exports fell by SAR 13.5 billion or 15.8% to SAR 72 billion ($19 billion) from SAR 85.5...
Business
‘Israeli army tortures and rapes Palestinian girls’
The experts have expressed concern that an unknown number of Palestinian women and children, including girls, have reportedly gone missing...
Geostrategy
Economy
CEPA with India, Israel, Indonesia to help UAE economic growth
The comprehensive economic partnership agreements (CEPA) signed by the UAE with India, Israel and Indonesia this year will help the...
- Comprehensive economic partnership agreements to help UAE's economy's growth by 2.6 percent by 2030
- The UAE is holding talks with several other countries for signing similar agreements
Business
Turkish Airlines flights at pre-pandemic conditions
Turkish Airlines has announced that flights to Saudi Arabia have resumed to pre-pandemic conditions and Saudi citizens will now be...
- Turkish Airlines announces that flights to Saudi Arabia have resumed to pre-pandemic levels
- The airlines said that from June 20, 2022 the restrictions set by Türkiye due to COVID-19 has been lifted
Geostrategy
‘Displaced in Iraq to return to their homes by end of 2023’
The UNDP confirmed the implementation of 3,800 projects in five liberated Iraqi governorates and said that it is helping five...
- The UNDP said five million internally displaced persons in Iraq will be sent back to their areas
- The organization said 3,800 projects are being implemented in five liberated Iraqi governorates
Economy
Dubai Supreme Council moots monitoring panel for petroleum trading
Dubai Supreme Council of Energy on Monday discussed establishing a permanent committee to monitor petroleum product trading in Dubai and...
- At its 71st meeting, the Council said that in 2021, savings were equivalent to 6.4 terawatts of electricity, approximately 12.5 percent of business as usual.
- Since 2011, demand-side programs have contributed to avoiding 14.1 million tons of carbon dioxide emissions, saving nearly AED9 billion.Â
Business
Dubai Customs’ department carries out nearly 62,000 inspections in Q1
The Sea Customs Centres Management, one of Dubai Customs’ departments, carried out 61,852 inspections and 120 seizures in the first...
- The Sea Customs Centres Management, one of Dubai Customs’ departments, carried out 61,852 inspections and 120 seizures in the first quarter of 2022.
- The smart scanning systems developed by Dubai Customs has increased the rate of identifying suspicious shipments.
Business
DEWA produces 700MW more energy, capacity rises to 14,117MW
DEWA has outlined expansion plans for the energy and water infrastructure based on demand forecasts until 2031, Al Tayer, MD...
- DEWA has outlined expansion plans for the energy and water infrastructure based on demand forecasts until 2031, Al Tayer, MD and CEO of DEWA said
- Al Tayer revealed that the clean energy share in Dubai’s energy mix has reached 11.5 percent and is expected to reach 14 percent by the end of 2022
Business
Emrill appoints new director
The company intends to speed up growth in the GCC.
- Johnson will be responsible for building and developing the organization's strategic vision and accelerating growth across Emrill’s key services in the UAE and the wider GCC region
- With over 25 years of senior management experience, Johnson has held managerial roles in the UAE, UK, Europe, and Australia
Business
Al Bateen ladies’ beach in Abu Dhabi to be given makeover
Al Bateen ladies' beach in Abu Dhabi will be redeveloped with public amenities in order to brighten its appeal as...
- The beach covers more than 36,580 sqm and will feature a restaurant, cafes, a prayer room and a convenience store
- The beach will be temporarily closed from 4th July until its completion in the second quarter of 2023
Economy
Oil prices may hit $380 a barrel if Russia lowers crude output
Global oil prices may hit $380 a barrel if Russia were to announce crude oil cuts in response to the...
- According to JPMorgan analysts currently Russia enjoys a strong financial position and it can afford to slash daily crude production by 5 million barrels
- It was after Russia’s invasion of Ukraine that the Western allies led by the US imposed several sanctions, and worked out a complicated mechanism to cap the price fetched by Russia
Business
Pilatus and Strata partner to make UAE’s first hot press parts
The newly updated agreement between the two companies will pave the way for the production of Pilatus PC-24 Super Versatile...
- The newly updated agreement between the two companies will pave the way for the production of Pilatus PC-24 Super Versatile Jet interiors
- Strata has committed to a 70 percent Emiratisation rate for the project, and will be utilizing their next-gen Hot Press technology alongside a suite of Autoclave products
Saudi Arabia’s oil exports fall by $13 billion in fourth quarter of 2023
In December, oil exports fell by SAR 13.5 billion or 15.8% to SAR 72 billion ($19 billion) from SAR 85.5...
Business
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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...
Business
ADNOC Drilling to acquire rigs
The two offshore jack-up rigs will be bought for $200 million.
Business
Governments of UAE, Egypt launch ‘Egypt Services Center’
ASWAN, EGYPT - The governments of the UAE and Egypt inaugurated the Egypt Services Center in the Aswan Governorate, which...
Geostrategy
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Geostrategy
Saudi Crown Prince meets Jordanian PM in Riyadh
Earlier on Monday, Jordanian-Saudi ministerial meetings were held to discuss bilateral cooperation in various fields.
- Earlier on Monday, Jordanian-Saudi ministerial meetings were held to discuss bilateral cooperation in various fields
- The two sides also reaffirmed their joint keenness to leverage available and joint opportunities in various fields
Economy
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.
- Erdogan said Ankara aims to increase its daily production to 100,000 barrels by the centennial of the Republic of Türkiye
- The newly discovered oil reserves have been named after Gendarmerie Esma Cevik, who was killed clearing mines on Gabar Mountain
Business
Dubai races ahead to be global epicenter for crypto
While the crypto ecosystem still reels from the collapse of FTX, and investor apprehension about the future of the digital...
- The UAE is the third largest cryptocurrency market in the Middle East, behind Turkey and Lebanon, with a transaction volume of roughly $26 billion
- The emirate demonstrated its willingness with VARA to be the first country to have the regulation to oversee the crypto sector rather than curbing it