GPSSA issues circular on pensions, gratuity in UAE
ABU DHABI, UAE – The Emirates General Pension and Social Security Authority (GPSSA) has issued a circular to government and...
Business
Economy
‘Resilience more vital than efficiency for GCC startups’
The ongoing Covid-19 pandemic teaches several lessons to regional businesses, says UAE Minister Ahmad Belhoul Al Falasi.
- The ongoing pandemic teaches several lessons to regional businesses, says UAE Minister Ahmad Belhoul Al Falasi
- The entrepreneurship ecosystem in UAE has not yet reached full maturity but 'we are about 60-70% there', he adds
Business
Saudi Arabia and Italy to explore investment opportunities
Saudi Arabia’s Ministry of Investment will host a high-level Italian business delegation on Monday to explore mutually beneficial investment opportunities....
- An Italian delegation led by Italian Minister for Foreign Affairs Luigi Di Maio will visit the kingdom.
- Private sector representatives from multiple organizations from both countries will participate in the forum.
Business
‘World’s most efficient AC’
Strata, Hyperganic and EOS will partner to build the energy-efficient AC.
- Strata Manufacturing is a UAE-based Digital Factory pioneer, Hyperganic an AI-based engineering platform company EOS a German industrial 3D printing company.
- Media reports said the partnership is a result of the Ministry of Industry and Advanced Technology’s efforts to facilitate industrial collaboration.
Business
SARCO, Christof Global sign MoUs
Renewable energy projects costing $301 million will be built.
- The first project is to study an investment partnership to build a refinery producing the ‘biodiesel’ biofuel carbon.
- The second project, aims to study the investment in the technology of slop oil to convert waste oil wells, oil from shipping ships.
Business
Alpha Dhabi ups stake in Aldar
After the deal, Alpha Dhabi becomes Aldar's parent company.
- Aldar will be treated as a subsidiary in Alpha Dhabi's consolidated financial statements.
- The additional shareholding came through the acquisition by Alpha Dhabi of an entity already holding shares in Aldar.
Business
Saudi Arabia and Italy to deepen investment ties
Saudi Arabia and Italy will jointly explore investment opportunities in sectors as wide as finance, infrastructure and mobility, tourism and...
- The forum will focus on finance, infrastructure and mobility, tourism and culture, and renewable energy
- It will serve as a platform for Italian investors to explore the support services available from Invest Saudi
Business
‘Not enough GCC women employed in STEM sector’
Christine Harb, CEMEA Vice President of Marketing at Visa, believes that the workplaces should offer the right flexible benefits for...
- Christine Harb, CEMEA Vice President of Marketing at Visa, believes that workplaces should offer the right flexible benefits for women to join
- The role of the women at the technological workplaces in the GCC is evolving with Metaverse, Harb said
Business
UAE strengthening exhibition sector: Al Midfa at CEO Summit
The Expo Center Sharjah participated in the “Global CEO Summit 2022” to improve international cooperation, and forecast the future of...
- The summit is organized by the Global Association of the Exhibition Industry (UFI) in Hamburg, Germany from June 22 to 24.
- The Center stressed its presence at the summit reflects its keenness to follow up on the developments related to global exhibition industry.
Geostrategy
Saudi-Italian space agencies ink pact on cooperation
The Saudi Space Commission and the Italian Space Agency sign a memorandum of understanding for enhancing cooperation in the field...
- Saudi Space Commission, Italian Space Agency sign an MoU to enhance cooperation in space-related activities for peaceful purpose
- Federation of Saudi Chambers and General Confederation of Italian Industry ink an MoU to establish a joint Italian-Saudi business council
Business
Qatari private exports value surge by 46 percent in Q1 2022
Qatar Chamber (QC) said in its quarterly report that the export value of private sector in Q1 2022 hiked to...
- During Q1 2022, Asian countries (except GCC and Arab countries) received 50.4 percent of total exports valued QAR 3.89 billion.
- India was the top business partner receiving exports valued around QAR 1.79 billion representing 32.2 percent of total exports.
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Company News
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FIFA World Cup Qatar will be the best, says Infantino
Arts & Culture
GAL-AMMROC, GMF ink pacts
Business
Turkey’s auto sector grows 6% from Jan-Nov 2022
The sector witnessed the manufacturing of 1,210,331 cars in the period.
Business
GCC vows to unify stance of global environment issues
The Gulf countries have highlighted the importance of coordinating and unifying the stances of the regional bloc in all international...
Economy
UAE launches Arab world’s first ever lunar rover, will land in April 2023
Dubai, UAE - The Arab world's first lunar rover successfully took off to space on Sunday. The UAE-built Rashid Rover...
Science
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Business
Turkish investments in Algeria exceed $5 billion: Foreign minister
Algiers, Algeria--- Turkish investments in Algeria have exceeded $5 billion and the desired goal of $10-billion trade between the two...
- Mevlut Cavusoglu said the number of Turkish companies operating in Algeria exceeded 1,400.
- He said the desired goal of $10bn bilateral trade between the two countries could be achieved in a short time.
Videos
Is GCC insurance industry ready for the change?
Industry experts stress the need for harnessing the momentum the industry has gained after the recovery from Covid setbacks.
- PwC Middle East advises insurers, as they look to 2025 post Covid recovery, to harness "the momentum they have gained" to meet new challenges.
- "Regardless of how insurers capitalize on these trends, they will need to reassess the future and reimagine their place in the world," says Sanjay Jain of PwC.
Economy
Saudi real GDP grows 8.8 percent in third quarter on rise in oil activities
Riyadh, Saudi Arabia---Saudi Arabia’s real gross domestic product grew by 8.8 percent in the third quarter of 2022 compared to...
- GASTAT noted that the real GDP growth in the third quarter was up 2.1 percent compared to the second quarter of this year.
- Government activities also rose by 2.5 percent in the third quarter compared to the same period a year ago.