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
Ras Al Khaimah witnesses rise in issue of valid business licenses in 2023
RAS AL KHAIMAH, UAE - The economic growth of the Emirate continued to accelerate in 2023, with the Department of...
Business
Economy
Qatar passenger traffic may surge by 105 percent in 2022: Report
The report of Qatar Aviation body is updated with the IATA Air Transport data (Airport-IS) related to schedule statistics until...
- Passenger traffic anticipates a surge ranging from +90 percent to +105 percent compared to the year 2021
- The report suggests that the number of flights at Hamad and Doha International Airports could reach about 28,000
Business
Kuwait awarded nearly $6 billion worth of tenders in 2021
The Central Agency for Public Tenders of Kuwait (CAPT) has awarded 235 tenders worth $5.9 billion in 2021. Secretary-General of...
- The Ministry of Electricity, Water and Renewable Energy had won the lion's share of the tenders in 2021.
- The Ministry of Health (MoH), with 25 tenders worth $364.6 million, grabbed the second position.
Business
Jordan, Egypt sign deal to develop and operate logistics areas
Jordan and Egypt held a meeting Monday to discuss mutual cooperation in the field of establishing, operating and developing logistic...
- The two nations had signed a cooperation deal on the sidelines of the 30th session of the Joint Jordanian-Egyptian Higher Committee.
- The virtual meeting between the two highlighted the importance of implementing partnership projects for strengthening self-sufficiency.
Business
Jordan’s FDI in 2021 reaches $622million, Arab region’s $53 billion
The Foreign Direct Investment (FDI) in Jordan amounted to $622 million in 2021, constituting 1.2 percent of the Arab region's...
- UAE was the topmost FDI destination in the Arab world, with $20.7 billion or 39.1 percent of the region's total FDI.
- UAE was followed by Saudi Arabia with $19.3 billion, Egypt with $5.1 billion, Oman with $3.6 billion, and Morocco with $2.2 billion.
Geostrategy
Arab League calls for efforts to counter global economic crisis
The Arab League says the world is facing challenges from political, economic crises and armed conflicts and that unified efforts...
- Arab League says unified efforts are needed among countries in the region to confront challenges facing the global economy
- The League says the world is facing a massive challenge from political, economic crises and armed conflicts
Geostrategy
Biden to visit Middle East from July 13-16; meet Saudi crown prince
US President Joe Biden will make history next month with a direct flight between Israel and Saudi Arabia where he...
- Biden is likely to secure a boost in Saudi oil production, in an attempt to tame spiralling fuel costs and inflation at home
- The US president will engage with nearly a dozen leaders during the brief yet intense journey, says a senior official
Business
Jordan energy ministry inks MoUs for copper, gold exploration
Jordan's Ministry of Energy signed an MoU with a local company to explore for copper and it also signed another...
- Jordan's energy ministry inked an MoU with a local company to explore for copper in the Dana region of the Kingdom's south
- The ministry signed an MoU with a Turkish company to explore for gold in the Abu Khashiba region, also in the south
Geostrategy
Sharjah, Costa Rica strengthen economic, cultural relations
Sharjah is building on the long-standing historical ties the emirate shares with Costa Rica to bolster and deepen diplomatic and...
- The strong relations between Sharjah and Costa Rica are serving as a base for enhancing economic cooperation
- The two sides can benefit through the mutual exchange of expertise in industries, culture, science, technology and economy
Business
Abu Dhabi Export Office signs financing pact with Capital Bank of Jordan
Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a financing agreement...
- Under the agreement,$20m will be opened to support collaborative efforts to enhance UAE’s exports to the region and boost economies of the two countries.
- The agreement will allow ADEX to open a credit line with Capital Bank that can re-lend importers on competitive terms to buy Emirati goods and services,
Business
ADQ to acquire Turkish pharma company Birgi Mefar Group
As a full-service pharmaceutical CDMO, BMG is a production service provider for sterile injectable products, namely vials and pre-filled syringes...
- As a full-service pharmaceutical CDMO, BMG is a production service provider for sterile injectable products, namely vials and pre-filled syringes used for vaccines
- Investment expands ADQ’s life sciences capabilities in sterile injectables and wider pharmaceutical services segments, while complementing its broader commitment to Turkey
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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
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
Company News
Wio Bank, ADGM sign pact
Business
TECOM Group to pay dividend
Business
Latest News
Saudi Arabia launches drive to embed role of culture in development
Riyadh, Saudi Arabia— Saudi Arabia has unveiled the "Culture & Green Future" initiative, aiming to enhance the role of culture...
Arts & Culture
First shipment of UAEGD-compliant gold exported to Indian International Stock Exchange
The UAEGD is a standard that provides a framework for the gold sector, in line with international best practices.
Economy
IATA expects airline losses in 2022 to slide down to US$9.7bn
Geneva, Switzerland— The International Air Transport Association (IATA) has upgraded its outlook for the airline industry’s 2022 financial performance as...
Business
Most Read
Economy
UAE’s non-oil foreign trade at the end of third quarter $445 billion
Abu Dhabi, UAE----UAE's non-oil foreign trade increased by 19 percent by the end of the third quarter, compared to the...
- The value of exports at the end of the third quarter amounted to AED275 billion, a growth of nine percent, and re-exports recorded a growth of 22 percent.
- Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi said country's policies, legislations and economic relations and agreements have "begun to bear fruit".
Business
Saudi EXIM Bank, Korean Commercial Insurance Company sign MoU
Riyadh, Saudi Arabia---The Saudi Export-Import Bank signed an MoU with the Korean Commercial Insurance Company (K-SURE), which is Korea’s export...
- They will enhance import and export activities between the two countries, including export of environmentally friendly energy sources produced in Saudi Arabia.
- Under the terms of the memorandum of understanding, the two parties will share experiences and knowledge, cooperate to provide financing solutions.
Geostrategy
Chinese flags flutter in Saudi capital as Xi visits kingdom for first time since 2016
Riyadh, Saudi Arabia---The Saudi capital was bedecked with Chinese flags ahead of President Xi Jinping's visit on Wednesday that is...
- The red-and-gold Chinese emblem alternated with the green flag of Saudi Arabia along major roads in Riyadh, while Xi was pictured on the front pages of newspapers.
- China, the world's second-biggest economy, is the top customer for oil from Saudi Arabia, the leading exporter of crude, and both sides appear keen to expand their relationship.