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
AD Ports acquires Noatum
Business
EGA, ITOCHU sign agreement
Business
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
Opinion
Equality in economic recovery among countries crucial
The international community must adopt an approach that could translate words and goodwill into practical steps that could achieve equality...
- The positive health indicators have risen after lifting restrictions, recovery of trade flow, increase in public spending and rise in global demand at all levels, says Qatar's emir
- However, the confusion that has impacted the supply chains is still among major factors that drive up prices, Sheikh Tamim bin Hamad Al-Thani highlights at the QEF 2022
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
Company News
AD Ports acquires Noatum
Business
EGA, ITOCHU sign agreement
Business
Latest News
Continuous efforts to enhance UAE’s endeavor to confront money laundering crimes: CBUAE Governor
The apex bank "will continue to take all measures to ensure the maintenance of the integrity of the financial system...
Business
Riyadh summits bring in fresh hopes, opportunities as region sees China as ‘growth engine of global economy’
While a UAE official in Beijing calls the China-Arab summit a key milestone in the history of relations between the...
Business
DEWA receives 29 EOIs for first phase of desalination project at Hassyan
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has received 29 expressions of interest (EOIs) to implement the first...
Business
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Geostrategy
G20 Interfaith Forum to convene in Abu Dhabi
Abu Dhabi, UAE— The G20 Interfaith Forum (IF20), the world’s leading organisation focused on the intersection of faith and policy...
- The UAE is hosting the event as part of its ongoing initiatives to promote cultural interaction and global convergence
- The 2022 Forum in Abu Dhabi will serve as a bridge between the November G20 Summit in Indonesia and the launch of the 2023 G20 agenda, with India as 2023 host
Business
DEWA receives 29 EOIs to set up desalination project at Hassyan complex
The company has received 29 expressions of interest to implement first phase of its Hassyan Sea Water Reverse Osmosis Plant.
- The company has received 29 expressions of interest to implement first phase of its Hassyan Sea Water Reverse Osmosis Plant
- It has appointed a consortium of companies, including Deloitte, WSP and Addleshaw Goddard, to provide consultancy services for the project
Economy
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.
- The increase brings total amount of investment support that governments have allocated to clean energy to $1. 215 billion
- Advanced economies account for nearly 95 percent of the clean energy investment support that has been allocated worldwide