Several nations eager to join Charter of Cooperation, says OPEC Secretary-General
ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in...
Business
RTA inks agreement to develop entry/exit points for Dubai Harbor
DUBAI, UAE - The Roads and Transport Authority (RTA) of the Emirate has entered into a strategic partnership with ‘Shamal...
Geostrategy
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
Economy
UAE’s FRC forms council for financial reorganization
UAE's Financial Restructuring Committee has formed a Consultative Council to provide an open discussion forum between the FRC and experts...
- Consultative Council has been formed to provide an interactive relation between FRC and the community
- The Council will discuss and provide advice on financial reorganization and bankruptcy
Business
Oman Air to be a part of Oneworld alliance by 2024
Oman Air's joining will add new destinations to the Oneworld network including Duqm and Khasab in Oman and Chittagong (Bangladesh).
- Oman Air's entry into Oneworld will provide more flights and destinations to customers planning global travel across the alliance's members.
- It makes Oneworld the only global airline alliance with three members in the Middle East after Qatar Airways and Royal Jordanian.
Business
Global personal luxury goods market hits US$300bn
The market benefited from an exuberant 2021 holiday shopping season across the regions, with a seven percent increase over the...
- Global personal luxury goods experienced a remarkable performance in the first quarter 2022
- Luxury brands enjoyed growth from a strong holiday shopping season, maintain momentum in the US
Economy
Leadership supports growth of UAE as global manufacturing hub: Minister
UAE's Minister of Industry Dr Al Jaber said at the 'Make it in the Emirates' Forum that the national industrial...
- The national industrial strategy will leverage the UAE's competitive advantages to build a strong industrial sector
- The strategy will help the country develop a diversified, self-sufficient and sustainable economy
Business
UAE, Israel export credit agencies to back Ghana healthcare project
Etihad Credit Insurance (ECI) and Israel Export Insurance Corporation have entered into an agreement under which ECI will provide buyer’s...
- The project involves construction of four healthcare facilities in Ghana, including a general hospital in the country's largest port city, Tema.
- The agreement is related to the first Public-Private Partnership project between the UAE and Israel after the signing of the historic Abraham Accords in September 2020.
Business
Three companies to buy Masdar stakes
TAQA, ADNOC, and Mubadala enter binding agreements worth $1.9bn.
- The agreements will see TAQA acquire a 43 percent controlling stake in Masdar's renewables business, with Mubadala retaining a 33 percent interest and ADNOC 24 percent.
- ADNOC will hold a 43 percent controlling stake in Masdar's new green hydrogen joint venture, Mubadala will retain a 33 percent interest and TAQA a 24 percent effective stake.
Geostrategy
Jordan ranks 57, improves position in Global Peace Index
Jordan strengthened its position on several security indicators, especially on the crime rates in society and the indicator of security...
- Jordan moved up for the third year in a row on the Global Peace Index in 2022 to be ranked third in the Arab world
- The Kingdom was ranked third among the countries in the MENA region, in 2021 it was fourth
Business
ADNOC signs manufacturing pacts
Identifies $19bn worth of products that can be manufactured in UAE.
- The agreements, which were signed at the “Make it in the Emirates Forum”, will see the UAE and international companies set up and expand manufacturing facilities in the UAE.
- The local manufacturing opportunities comprise of over 100 products which will be utilized across ADNOC's full value chain.
Business
Abu Dhabi Chamber looks to boost trade ties with Mexico
Abu Dhabi Chamber of Commerce and Industry has held discussions with a business delegation from Mexico to boost trade ties...
- The Ambassador called on Emirati investors to leverage the facilities his government provides for foreign investors
- The meeting discussed boosting trade cooperation and opening up new doors for economic cooperation between the two sides
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Several nations eager to join Charter of Cooperation, says OPEC Secretary-General
ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in...
Business
Company News
Latest News
Mubadala acquires stake in ACX
Business
SASO, Chinese SAC renew technical cooperation program
The program aims to strengthen the strategic partnership between the two countries and contribute to ensuring the quality and safety...
Economy
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.
Geostrategy
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...
Business
Most Read
Economy
UAE tax decree: Profits above $102,099 to be taxed at 9 percent
Abu Dhabi, UAE---The UAE has issued a decree on the Taxation of Corporations and Businesses, the Corporate Tax Law, under...
- Profits up to and including the $102,099 threshold will not be taxed "to support small businesses and start-ups".
- Free zone entities will be eligible to benefit from the zero percent Corporate Tax rate on qualifying income.
Geostrategy
IFC, UNHCR to jointly boost private sector engagement for refugees, host communities
GENEVA, SWITZERLAND - The International Finance Corporation (IFC) and UNHCR, the UN Refugee Agency, Friday announced a joint initiative to...
- The initiative aims to mobilize private sector projects over the next five years to demonstrate the viability of investments in forced displacement contexts.
- Forced displacement is a growing crisis that is too large and complex for governments and humanitarian agencies to solve alone.
Business
Aramco, Shandong Energy to collaborate on downstream projects in China
Dhahran, Saudi Arabia---Saudi Aramco and China's Shandong Energy Group are exploring collaboration on integrated refining and petrochemical opportunities in China....
- The companies have signed a Memorandum of Understanding (MoU), which includes a potential crude oil supply agreement and chemicals products offtake agreement.
- The scope of the MoU extends to cooperation across technologies related to hydrogen, renewables and carbon capture and storage.