UAE allocates US$5m for UN’s humanitarian efforts in Gaza
ABU DHABI, UAE – As per the directives of President Sheikh Mohamed bin Zayed Al Nahyan, Minister of Foreign Affairs...
Geostrategy
Ras Al Khaimah witnesses rise in issue of valid business licenses in 2023
RAS AL KHAIMAH, UAE - The economic growth of the Emirate continued to accelerate in 2023, with the Department of...
Business
‘Culture is prerequisite for peace in the world’
Arts & Culture
Economy
Ajman Free Zone stresses on SEZs in business growth
Ajman Free Zone stresses on the importance of Special Economic Zones and their impact on businesses from various perspectives.
- Ajman Free Zone highlights the importance of Special Economic Zones during a time of crisis
- The Free Zone discusses SEZs in driving up skill levels and technological advancements in a region
Business
Emirates Steel Arkan, ADU to set up UAE’s first specialized metallurgy lab
Emirates Steel Arkan Group, the UAE’s largest listed steel and building materials company, has signed a Memorandum of Understanding (MoU)...
- The laboratory will contribute to enriching the educational experience in this discipline and conducting advanced studies and research in metallurgy.
- Emirates Steel Arkan Group will offer comprehensive scholarships to 20 undergraduate Emirati students covering the four-year study.
Business
Nasdaq Dubai welcomes US$ 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.
Business
Qatari businessmen to explore investment opportunities in Egypt
The Qatari Businessmen Association discussed investment cooperation with Mohamed Abdel-Wahab, CEO of Egypt’s General Authority for Investment and Free Zones....
- Chairman of the Qatar Businessmen Association's Board of Directors Sheikh Faisal bin Qassim Al-Thani stressed upon economic cooperation between the two countries.
- He said there are multiple mutual economic opportunities between Qatar and Egypt to develop their cooperation in the trade and investment sectors.
Infographics
GCC sees rise in non-oil sectors’ contribution to GDP
The region's countries have embarked on ambitious transformative plans to reduce dependence on oil and diversify their economies.
- The region's biggest economy, Saudi Arabia, unveiled its ambitious long-term strategy for the Kingdom, known as ‘Vision 2030’.
- Since the price of oil has been volatile over the past few years, these countries have been exposed to economic disruption.
Geostrategy
Iraq to host tripartite meeting on water sharing in region
Dialogues with neighboring countries for water quotas are ongoing, says Iraq's Minister of Water Resources
- Dialogues have been taking place with neighboring countries for water quotas, says Iraq's Minister of Water Resources
- A special envoy of the Turkish president is supposed to visit Iraq but the date has not been finalized, the minister said
UAE allocates US$5m for UN’s humanitarian efforts in Gaza
ABU DHABI, UAE – As per the directives of President Sheikh Mohamed bin Zayed Al Nahyan, Minister of Foreign Affairs...
Geostrategy
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‘Culture is prerequisite for peace in the world’
Arts & Culture
Vietnamese firms look to benefit from Saudi Vision 2030 opportunities
Riyadh, Saudi Arabia---Â As many as 20 Vietnamese companies that participated in the Saudi-Vietnamese Business Forum on Tuesday evinced interest...
Business
UAE, Saudi Arabia sign MoU for mutual recognition of maritime training
LONDON, UK - The UAE Ministry of Energy and Infrastructure (MOEI) and the Transport General Authority (TGA) of the Kingdom...
Geostrategy
KEZAD, Al Eskan Al Jamae merge
The merger creates Abu Dhabi’s largest integrated staff accommodation company.
Business
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Business
Dubai Islamic Bank lists sukuk
The bank listed the sustainable sukuk on Nasdaq Dubai.
- The Sukuk is the first-ever sustainable Sukuk from a UAE entity and was issued in line with DIB’s Sustainable Finance Framework
- The bank issued the new Sukuk under its US$ 7.5 billion Sukuk Programme
Business
GCC IPOs resilient to volatility hurting other markets
Various IPOs raised nearly $4.8 billion in the GCC in the first five months of 2022 alone, which was higher...
- IPOs in the Gulf prove resilient to the volatility hurting deals in other markets, such as high oil prices, stable economies, and abundant liquidity fuel activity.
- Significant privatizations and private growth companies are now entering the IPO markets due to the recent surge of PO activity and frameworks introduced to enable SPAC formation.
Geostrategy
China-Arab summit: Chinese President Xi to visit KSA tomorrow
Chinese President Xi Jinping will reach Saudi Arabia on Wednesday for a three-day visit, his first to the world's biggest...
- Leaders from the two countries are expected to discuss potential deals that could see Chinese firms become more deeply involved in Saudi mega-projects
- Chinese President Xi Jinping last visited Saudi Arabia in 2016 on a trip that also featured stops in Egypt and Iran