DEWA records 12.5 million digital transactions in 2023
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that its customers conducted around 12.5 million digital transactions in...
Business
FAB issues first Sukuk globally in 2024
ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps,...
Business
Economy
Kuwait backs Turkish-Arab foray into job-oriented philanthropy
Kuwait's Ambassador to Turkey and several Kuwaiti organizations have supported the concept of Core Istanbul
- Kuwait Islamic Charity Organization backs Core Istanbul for its initiative to help young people get jobs
- The concept of Core Istanbul is called as a more business-oriented approach towards philanthropy
Economy
Interior Ministry launches Makkah Route Initiative in 5 countries
Makkah Route Initiative aims to complete procedures in pilgrims countries with ease including issuing visa electronically, taking biometrics, completion of...
- Makkah Route Initiative launched as part of Pilgrim Experience Program under the Saudi Vision 2030
- The Initiative has been launched in Pakistan, Malaysia, Indonesia, Morocco and Bangladesh
Business
PIF, Capital Bank Group sign pact
The deal worth $185m makes PIF a strategic investor in the group.
- The deal aims to increase the capital of the Capital Bank Group, and thus raise the total shareholders’ equity to more than 3.2 billion riyals, media reports said.
- It also aims at strengthening its plans for digital transformation by providing the latest electronic services that include the launch of digital banks.
Business
Saudi authority to hold real estate auctions in Riyadh, Madinah
Saudi Arabia's Center for Attribution and Liquidation, or Infath, has said that between June 7 and 15, it will be...
- The Center for Attribution and Liquidation, or Enfath, will hold these auctions between June 7 and 15 in attendance and online.
- Auctions display 117 real estate assets, including commercial, residential, and agricultural lands, villas, and commercial and residential buildings.
Business
ACWA Power inks deal for Layla PV Solar project worth $107m
Saudi ACWA Power Co. has signed a power purchase agreement with Saudi Power Procurement Co. for the Layla PV Solar...
- The company won the contract for submitting the lowest bid of 11.2 halala/KWh
- ACWA Power will develop, construct, and operate Layla PV Solar IPP, a plant located in Riyadh
Business
UAE is determined to disrupt organized crime: Minister of Justice
A day after the arrest of a British national in Dubai over a $1.7 billion dividend tax fraud case in...
- For the past two years UAE authorities have worked closely with their Danish counterparts to compile a strong body of evidence in this case
- The UAE’s commitment to collaboration is also symbolized in the general extradition treaty signed with Denmark in March 2022
UAE an example of environmental commitment: Almheiri
The UAE leads the region’s response to climate change and effectively participates in stepping up collective climate action, says Environment...
- UAE has placed environmental protection at the heart of its development strategy, says Environment Minister
- UAE has made distinctive contributions to international efforts to tackle climate change, says Almheiri
Science
Building confidence, security in ICT sector fetches Qatar key global award
Qatar participated in the forum as a golden strategic partner, where it reviewed its strategy in the field of digital...
- Qatar won the Ministry of Communications and Information Technology "Heroes" award
- Qatar's project outperformed 5 other projects that were submitted into the competition
Business
Dubai Airports to divert 60% of DXB’s waste from landfills
Dubai Airports new waste management program will prevent 60 percent of all waste from entering landfills by the middle of...
- A food waste management plan has been created jointly by Dubai Airports’ and its partner BEEAH Group
- The waste treatment plan is expected to compost over 2,000 tonnes of food waste annually across Dubai International premises
Economy
Oman, Iran sign deals on oil field, two gas pipelines along maritime border
The two countries signed deals to develop two gas pipelines and an oil field along their maritime border, Oman's energy...
- The two sides have signed memoranda of understanding concerning oil and gas, but did not provide details
- A deal was reached about two decades ago to allow Iran to supply Oman with gas, but the project never materialised
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
DEWA records 12.5 million digital transactions in 2023
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that its customers conducted around 12.5 million digital transactions in...
Business
Company News
Air Arabia Q3 net profit $113m
Business
Latest News
Agthia’s profit rises by 14%
Business
Indonesia villagers race to escape eruption as sky turns black
LUMAJANG, INDONESIA - Thousands of villagers living near Indonesia's Mount Semeru were racing for refuge Sunday to the wail of...
Science
RTA to develop truck rest stops in partnership with ADNOC, Almutakamela
Dubai, UAE---Dubai’s Roads and Transport Authority (RTA) has awarded contracts for constructing three all-inclusive Truck Rest Stops in partnership with...
Business
Jordan and Egypt agree to expand bilateral relations
Cairo, Egypt—King Abdullah of Jordan and Egyptian President Abdel Fattah El Sisi have expressed desire to further expand bilateral relations...
Geostrategy
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Business
German government to stop unjustified energy price increases
BERLIN, GERMANY - The German government aims to put a stop to energy price hikes it sees as unjustified with...
- Price increases are to be prohibited until the end of 2023 - unless the supplier can prove "that the increase is objectively justified".
- A justification could, for example, result from "market-based price and cost developments".
Geostrategy
UN report warns global food crises likely to increase
ROME, ITALY - The world's ability to nourish its burgeoning population is under threat and without broader socioeconomic and environmental...
- The report identifies the issues at stake and the threats and problems that have an impact on future food consumption and agrifood production.
- The report urges decision makers to think beyond short term needs.
Arts & Culture
UAE embroidery art Al Talli makes it to UNESCO heritage list
Al Talli features decoration of collars, hems and cuffs of clothes using cotton or silk threads, intertwined with gold and...
- It is distinguished by intricate designs and vibrant colours inspired by the local environment.
- The most well-known ‘Al Talli’ designs include ‘Sayer Yaay’ (coming and going’), ‘Bu Khostain’ – or ‘Bu Futlatayn’ – (double strand).