CBUAE cancels license of First Insurance Brokers Company
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) has cancelled the license of First Insurance Brokers Company...
Geostrategy
Economy
GCC economies to grow by 5.9% in 2022: World Bank
The current rebound is due mainly to strong growth in oil exporters boosted by rising oil revenues and a general...
- In Saudi Arabia, strong oil production growth and a robust recovery in the non-oil sector is expected to drive
- The United Arab Emirates should also benefit in the near term from rising oil prices
Business
Masdar City, DANA to develop beta site for agritech
Masdar City, DANA, beta site, agritech, pilot projects, greenhouses, net houses, open field farming, water scarcity, irrigation, greenhouse cooling, soil...
- Masdar City, DANA sign MoU to help contribute to agritech sustainability
- MoU to help UAE in meeting objectives as per National Food Security Strategy 2051
Geostrategy
Egypt center’s conference on extremism calls for cooperation
The first international conference by Egypt's Salam Center for Studies of Extremism began in Cairo, with the participation of delegations...
- Participation from more than 42 countries include senior religious leaders, ministers and representatives of fatwa houses worldwide.
- It aims to enhance international cooperation in combating extremism and exchanging experiences in this regard, with emphasis on research and academic cooperation.
Economy
Ajman Free Zone stresses on SEZs in business growth
Ajman Free Zone stresses on the importance of Special Economic Zones and their impact on businesses from various perspectives.
- Ajman Free Zone highlights the importance of Special Economic Zones during a time of crisis
- The Free Zone discusses SEZs in driving up skill levels and technological advancements in a region
Business
Emirates Steel Arkan, ADU to set up UAE’s first specialized metallurgy lab
Emirates Steel Arkan Group, the UAE’s largest listed steel and building materials company, has signed a Memorandum of Understanding (MoU)...
- The laboratory will contribute to enriching the educational experience in this discipline and conducting advanced studies and research in metallurgy.
- Emirates Steel Arkan Group will offer comprehensive scholarships to 20 undergraduate Emirati students covering the four-year study.
Business
Nasdaq Dubai welcomes US$ 3.25bn Indonesian Sukuk listings
The two tranches comprise US$ 1.75bn five-year Trust Certificates with a 4.40% yield and US$ 1.5 billion 10-year Trust Certificates...
- The two tranches comprise US$ 1.75bn five-year Trust Certificates with a 4.40% yield and US$ 1.5 billion 10-year Trust Certificates with a 4.70% yield
- The listings further strengthened Dubai’s position as one of the largest centers for Sukuk listings globally, with a total listed value of US$ 80.9 billion
Economy
Egypt’s net foreign reserves at $35.5bn by May end
The Central Bank of Egypt said that the net cash reserve balance covers five months of commodity imports
- The Central Bank of Egypt said that the net cash reserve balance covers five months of commodity imports
- Foreign currencies in Egypt’s foreign reserves include the U.S. dollar, euro, Australian dollar, Japanese yen and Chinese yuan
Business
Jordan govt, SJIF ink $400m healthcare agreement
Jordan Prime Minister Khasawneh said the healthcare project serves as a launchpad for future investments mentioned in the Jordan Investment...
- Jordan Prime Minister Khasawneh said the healthcare project serves as a launchpad for future investments mentioned in the Jordan Investment Fund Law
- The project will be based on a BOT model, as ownership of the project will be transferred to the Jordanian Government after the end of the investment period
Economy
Iraq PM’s advisor gives reasons for no consent of final accounts
Iraq PM's advisor identified two main factors that contributed to stall the approval of the state's final accounts 10 years...
- Two main factors contributed to stall the approval of the state's final accounts 10 years ago
- Government final account is one of the most important financial statements that is prepared annually
Business
Jordan’s exports from Jan-May 2022 hit $478 million
Amman Chamber of Commerce (ACC) said that the total value of exports during the January-May period 2022 amounted to JD339...
- Number of Amman Chamber of Commerce certificates of origin issued during the past five months of 2022 reached 10,879.
- ACC issued 2, 269 certificates of origin to export goods to Saudi Arabia and 1508 certificates to the UAE.
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Business
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Jordan and Algeria renew pledge to boost economic ties
Algiers, Algeria— Jordan's King Abdullah and Algeria President Abdelmadjid Tebboune have stressed the importance of bolstering ties between the two...
Geostrategy
EU spent €11.8 billion on imports of non-plug-in hybrid cars in 2021
Exports of non-plug-in hybrid cars were valued at €22.9 billion, which was more than half of the total extra-EU exports...
Business
UAE secured 40% of Japan’s crude oil needs in October
94.7 percent of 84.58 million barrels imported by Japan originated from five Arab countries: UAE, Saudi Arabia, Kuwait, Qatar, Bahrain...
Economy
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Arts & Culture
World Cup without booze makes atmosphere less aggressive, more family friendly
Some say the absence of booze in stadiums and its limited availability elsewhere in the Arab nation has detracted from...
- The sale of alcohol at World Cup stadiums in Qatar was banned two days before the tournament in a policy U-turn, although it is available at fan zones and most international hotels
- And matches particularly involving teams from South America and North Africa have still played out in front of electric atmospheres.
Business
Saudi Arabia joins Madrid-based International Olive Council
Madrid, Spain---Saudi Arabia has joined the International Olive Council (IOC), a UN affiliated intergovernmental organization aimed at developing and expanding...
- The council is a UN affiliated intergovernmental organization aimed at developing and expanding olives and olive oil trade.
- The Council also encourages the member countries to develop and modernize commercial standards for products and improve their quality.
Business
Saudi Aramco subsidiary Luberef expects to raise $1.32 bn from IPO
Dubai, UAE---Luberef, a subsidiary of Saudi oil giant Aramco, expects to raise up to SAR 4.95 billion ($1.32 billion) from...
- The company will sell nearly 30 percent of its share capital to individual and institutional investors, which translates into 50.045 million shares, and list on the Saudi Exchange.
- In a Tadawul filing, Luberef said the price range for the offering has been set between SAR 91 and SAR 99 per share.