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
Investment in Qatar free zones reaches US$1.3bn, says QFZ chairman
DOHA, QATAR - Minister of State and Chairman of Qatar Free Zones Authority (QFZ) Dr. Ahmad bin Mohammed Al Sayed...
Business
Business
Saudi Re bags A3 rating
The firm got top rating with a stable outlook from Moody's.
- Saudi Re said that the ratings confirm its strong brand and market position in Saudi Arabia as the sole Saudi professional reinsurer
- Saudi Re has initiated the process of increasing its capital by up to SAR 445.5 million ($119 million) to strengthen its capital base
Business
GCC and UK aim to boost trade beyond current figure of $34bn
The Gulf Cooperation Council (GCC) and the UK began negotiations in Riyadh to boost trade, which stands at $34 billion.
- GCC Secretary-General Nayef Falah M. Al-Hajjraf met UK Trade Secretary Anne-Marie Trevelyan to launch the trade talks
- The UK is the third-largest export market for the GCC, and the new trade negotiations are expected to benefit exporters from both jurisdictions
Business
Dubal Holding signs deal with MOIAT
The deal will foster industrial cooperation between the two.
- Both the parties have agreed to cooperate in developing a framework for advancing the industrial and technology sectors in line with the directives of the UAE’s leadership
- Some of the projects currently being explored include Non-Recyclable Plastics to Liquid and Secondary Lead Smelter & Refinery through Recycling of Used Lead Acid Batteries
Geostrategy
UN official lauds UAE’s for environment conservation, SDG pursuit
UN Resident Coordinator for UAE Dr. Dena Assaf has praised the UAE’s environmentally-friendly endeavours to protect the environment and achieve...
- UN Resident Coordinator for UAE Dr. Dena Assaf also hailed Abu Dhabi's decision to ban the use of single-use plastic bags from 1st June.
- She commended UAE for being one of the first countries to announce its vision for carbon neutrality.
Business
Saudi-Jordan trade value reaches $.4.4 billion riyals in 2021
The trade exchange volume between Saudi Arabia and Jordan reached 16.6 billion riyals ($4.42 billion) in 2021, compared to 11.6...
- Saudi Arabia invested $14 billion through 900 projects in Jordan, according to Saudi media reports.
- The volume of Saudi exports to Jordan amounted to 11.6 billion riyals.
Economy
UAE public spending $3 billion in Q1, public services take major share
UAE’s Ministry of Finance has announced that the revenues of federal authorities in the first quarter of 2022 amounted to...
- The public order and public safety affairs sector came in second at 18.69 percent of the total, valued at AED2.12 billion.
- Social protection sector was ranked third with AED2.017 billion or 17.77 percent, and the defense sector was ranked fourth with AED1.679 billion or 14.79 percent.
Business
UAE technology ministry, EDB and EDGE sign manufacturing pact
The UAE Ministry of Industry and Advanced Technology (MoIAT), Emirates Development Bank (EDB), and EDGE Group, one of the world’s...
- Under the agreement, MoIAT will support EDGE to expand global exports of cutting-edge domestically manufactured products and solutions to over 40 countries.
- The agreement is in line with the UAE’s Fourth Industrial Revolution program, Industry 4.0, and aims to support growth in the defense sector.
Business
QFB funding Qatari consortium to buy 11% stake in Ennismore Group
QFB will finance the purchasing consortiums investment vehicle by providing 20 million Euro.
- QFB will finance the purchasing consortiums investment vehicle by providing 20 million Euro
- The deal comes at a time when lifestyle segments are demonstrating a stronger performance than the overall market
Business
Qatar and Czech Republic sign deal to prevent tax evasion
Qatar has entered into an agreement with the Czech Republic to avoid double taxation on income tax and to prevent...
- The deal was signed by Minister of Finance Ali bin Ahmed Al Kuwari of Qatar and Minister of Finance Zbynek Stanjura of the Czech Republic
- The agreement comprises items related to the field of maritime and air transport and joint projects
Geostrategy
Saudi crown prince, Jordan king meet amid thaw in ties
Saudi Crown Prince Mohammed bin Salman met with Jordan's King Abdullah in Amman on Tuesday to discuss regional and international...
- The tour of the Saudi Crown Prince acquires special significance as it comes before a planned Arab-American summit in July which Saudi Arabia will host
- The visit to Jordan comes at a time when Jordan's economy is struggling with the economic knock-on effects of the Ukraine war
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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
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Global government spending on clean energy transitions rises to $1.2 trillion
The increase brings total amount of investment support that governments have allocated to clean energy to $1. 215 billion.
Economy
US climate envoy commends decision to hold COP28 in UAE
Washington, US— The US has commended the decision to hold next year’s 28th UN climate change conference in the UAE....
Economy
Jordan minister opens Grotto of the Nativity in Dead Sea
The Grotto of the Nativity, the largest in Jordan, is a model that represents the birth of Jesus Christ, the...
Economy
Most Read
Geostrategy
Saudi Crown Prince: ‘Arabs will race for progress and renaissance once again. We will prove that every day’
China has established comprehensive strategic partnership relations with 12 Arab countries separately, says Xi Jinping during Arab-China Summit in Riyadh.
- China has established comprehensive strategic partnership relations with 12 Arab countries separately, says Xi Jinping during Arab-China Summit in Riyadh
- The summit vowed to confront the food, energy and climate crisis, and find political solutions to thorny issues and working to maintain peace and security in the region
Business
Dubai records weeklong real estate transactions worth $2.48 billion
Dubai, UAE --Dubai recorded a total of 3,186 real estate transactions worth over AED 9.1 billion ($2.48bn) during the week...
- The DLD report said that 419 plots were sold for AED 2.24 billion, while 2,233 apartments and villas were purchased for AED 4.64 billion.
- The top three transfers for apartments and villas were apartments for AED 54 million, AED 50 million and AED 37 million.
Economy
Tourists, cruises, flights to Aqaba on the rise in December
AQABA, JORDAN - The southern city of Aqaba is welcoming an increasing number of local visitors and foreign tourists of...
- The ports of Aqaba are expected to receive eight giant cruise ships carrying about 2,700 tourists each.
- King Hussein International Airport in Aqaba has received 18 flights from abroad in since the beginning of December.