Iran agricultural, food exports hit US$4.8bn in 10 months
TEHRAN, IRAN – The country has exported more than 6.7 million tons of agricultural and food products worth US$4.8 billion...
Business
UAE allocates US$5m for UN’s humanitarian efforts in Gaza
ABU DHABI, UAE – As per the directives of President Sheikh Mohamed bin Zayed Al Nahyan, Minister of Foreign Affairs...
Geostrategy
Business
DP World, Saudi Ports Authority to establish Jeddah Logistics Park
The port-centric park will boost Jeddah Islamic Port’s re-export activities and reduce the time and cost of logistics for importers...
- The port-centric park will boost Jeddah Islamic Port’s re-export activities and reduce the time and cost of logistics for importers and exporters
- It will also offer processing, labelling, fulfilment, consolidation, de-consolidation, and temperature-controlled storage for cargo
Business
Aramco sets up digital industries
It has tied up with Cognite to bolster digitization in MENA.
- The alliance announced the launch of CNTXT, which will be headquartered in Riyadh
- CNTXT will support industrial digitalization in Saudi Arabia and the wider MENA region
Economy
UAE-India trade to rise 120% to US$100bn in 5 years
The agreement is the first of its kind that the UAE has signed with any country, and it is India's...
- The agreement is the first of its kind that the UAE has signed with any country, and it is India's first with any country in the Middle East and the Gulf region
- The UAE’s foreign trade in 2021 recorded nearly AED1.9 trillion, growing 27 percent compared to 2020, and 11 percent compared to 2019
Geostrategy
Jordan King holds trilateral meeting with Egypt president, Bahrain monarch
The leaders underscored the need to expand trilateral cooperation across all sectors and to enhance regional security and stability.
- The leaders underscored the need to expand trilateral cooperation across all sectors and to enhance regional security and stability
- They stressed the need to support the Palestinians as they seek their legitimate rights, leading to the establishment of an independent Palestinian state
Business
Ajman DoF adopts Oracle cloud-based management system
Ajman's Department of Finance (DoF) has teamed up with Oracle to adopt a cloud-based resource management system that enables more...
- The upgrade is part of the emirate's commitment to further improve operations and services and promote the digital transformation of the emirate
- Ajman’s DoF’s migration to Oracle Fusion Cloud Applications is expected to increase productivity, reduce costs, improve controls, optimize supply chain management
Economy
DCCC holds talks on UAE-India free trade agreement
Dubai Customs Consultative Council held a meeting on the historic UAE-India Comprehensive Economic Partnership Agreement, expected to increase trade between...
- The UAE-India Comprehensive Economic Partnership Agreement is expected to increase trade between the two countries by 120 percent
- Due to CEPA, trade between the two countries is expected to reach US$100 billion within five years compared to US$45 billion currently
Business
Qatar receives highest number of international visitors in May
The international arrivals in Qatar exceeded 166,000 people in May, making it the month with highest number of visitors in...
- The figures represent more than a quarter of all visitors in the first five months of 2022.
- The year-to-date total (580,000) is fast reaching the overall arrivals figure of 2021 (611,000).
Arts & Culture
Scientific session organized by Islamic Forum begins in Sharjah
The twenty-second scientific session organized by the Islamic Forum kicked off at Al Maghfirah Mosque, Sharjah. Dubbed "The Migration Route",...
- Dubbed "The Migration Route", the session is running between 18th and 30th June.
- More than 600 participants from inside and outside the country joined the program.
Videos
UAE set to lead MENA metaverse
Firms in the region are now offering better participation, levels of cooperation and communication to their staff through productive workspaces...
- At its broadest, metaverse combines elements of social media, augmented reality, virtual reality, video games, cryptocurrencies and other advanced technologies.
- As the next big market opportunity, the metaverse could provide nearly US$800 billion in revenue by 2024, Bloomberg Intelligence estimates show.
Business
RTA’s revenue collection via digital channels up by 32 percent in 2021
Roads and Transport Authority’s revenues collected through digital platforms increased by 32 percent in 2021, said Mattar Mohammed Al Tayer,...
- RTA’s total digital revenues amounted to AED3.5 billion ($952 million), compared to approximately AED2.65 billion in 2020.
- The number of digital transactions reached 676 million last year, a 28 percent increase over 527 million in 2020.
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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
Iran agricultural, food exports hit US$4.8bn in 10 months
TEHRAN, IRAN – The country has exported more than 6.7 million tons of agricultural and food products worth US$4.8 billion...
Business
Company News
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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....
Business
Japan provides $110m soft loan to support Jordan’s energy sector
The loan is part of Japanese government's pledges to the Jordanian government at the 2019 London Conference.
Economy
e& partners with Bespin Global to offer cloud managed services in METAP region
The Joint Venture will be 65 percent owned by e& enterprise and 35 percent by Bespin Global.
Business
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Geostrategy
Saudi Arabia, UAE mediation efforts aid the US-Russia prisoner swap
The mediation efforts were led by the Emirati president Sheikh Mohammed bin Zayed bin Sultan Al Nahyan and the Crown...
- The mediation efforts were led by the UAE president Sheikh Mohammed bin Zayed bin Sultan Al Nahyan and Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud
- Brittney Griner, a top basketball player for the United States, was released in exchange for Russian arms dealer Victor Bout
Geostrategy
Six years later, Saudi King Salman and China’s Xi sign comprehensive strategic partnership agreement
Beijing is ready to expand its crude oil trade with Riyadh and will "list Saudi Arabia as a destination country...
- Beijing is ready to expand its crude oil trade with Riyadh and will "list Saudi Arabia as a destination country for outbound tourism organized by Chinese citizens, says Xi Jinping
- Xi and Saudi Crown Prince witness signing of energy agreements on hydrogen as well as a plan to "harmonize" Vision 2030, with China's trillion-dollar Belt and Road Initiative
Business
‘Investment in sports a key part of global economy’
“Sports economies involve infrastructure, new talents, air traffic, travel, and other components,” Al Marri adds, noting that there are many...
- Investment in sports is a key part of the global economy, being one of the main pillars of the new economy, says UAE’s Minister of Economy Abdullah bin Touq Al Marri
- Sports economies involve infrastructure, new talents air traffic, travel, and other components, adds Al Marri, who is also the Chairman of Investopia