SCC committee discusses issues related to Sharjah’s economy and tourism
SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...
Business
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.
Infographics
MENA nations make some ‘genuine progress’
Several MENA countries have fared well on all three domains of the Genuine Progress Indicator, which has been hailed as...
- The GPI nets the positive and negative results of economic growth to examine whether or not it has benefited people overall.
- GPI incorporates environmental and social factors which are not measured by GDP.
Company News
Sheikh Zayed Festival to air World Cup matches for fans
Arts & Culture
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UAE asks govt entities to buy locally produced food
The decision has been taken to support local production while the government continues to embrace open trade policy.
Economy
Dubai Customs and South Korea to boost trade ties
Dubai, UAE— Dubai Customs and a delegation from South Korea have discussed ways to further develop mutual trade cooperation. Dubai...
Economy
TBI denies loan for ‘fake projects’, says recovered 1 trillion, 500 billion dinars
Responding to a story published on one of the satellite channels, the bank explained the amount of the total loans...
Economy
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Business
ACWA Power signs deal with China
The $1.5bn deal will herald a new energy transition phase.
- The strategic partners from China include Industrial and Commercial Bank of China, Bank of China, SPIC Huanghe Hydropower Development Co, and China Southern Power Grid
- The deals will lay the ground for financing, investment and construction of ACWA Power’s global clean and renewable energy projects in Saudi Arabia and BRI countries
Business
Saudi Arabia and Kuwait to jointly develop Al-Durra gas field
Riyadh, Saudi Arabia—Saudi Arabia has signed a memorandum of understanding (MoU) with Kuwait on Sunday to develop Al-Durra gas field...
- In March the two countries had agreed to develop the Al-Durra submerged gas field
- The development of the field comes in implementation of the MoU signed by Saudi Arabia and Kuwait in 2019, which included the joint work to develop and utilize Al-Durra field
Business
Turkey’s auto sector grows 6% from Jan-Nov 2022
The sector witnessed the manufacturing of 1,210,331 cars in the period.
- The sector witnessed the manufacturing of 1,210,331 cars in the period
- The automotive exports grew by 5 percent over the past eleven months