Dubai wins right to host 349 business event in 2023
DUBAI, UAE - Dubai consolidated its status as a central hub for international business events in 2023, with the city...
Business
Palestinians count cost of Israel’s West Bank raid
Palestinians held funerals and assessed the damage of a days-long Israeli raid in the occupied West Bank, where violence has...
Geostrategy
Economy
UAE attracted nearly $21 billion of FDI in 2021: Minister
The UAE succeeded in attracting more than $20.7 billion of Foreign Direct Investment (FDI) in 2021, which reflects the confidence...
- Minister of Economy Abdullah bin Touq Al Marri said the UAE ranked first in the MENA region and 15th globally on AT Kearney's FDI Confidence Index 2021.
- UAE FDIs in Kyrgyzstan amounted to $12 million, making Emiratis among the top 20 foreign investor groups in the country.
Economy
UAE economic growth in 2022 to reach 4.7 percent driven by oil and non oil sectors, says World Bank
UAE economy to improve in 2022 as the country's financial reserves reflect solid growth, a strong financial system and resilient...
- The UAE in 2022 is keen on increasing the competitiveness of the private sector, said the Economic Advisor, Ministry of Economy.
- The UAE government launched an economic stimulus package of AED 388 billion, said a senior official of the Ministry of Economy.
Economy
One out of three Islamic Development Bank member living in poverty
President of the bank Dr Muhammed Al-Jasser, who was speaking at the 16th World Bank Forum, on Islamic Finance, said...
- The Forum themed “Poverty Reduction Through Social Innovation and Entrepreneurship” was held on the sidelines of the IDB group's annual meeting in Sharm El-Sheikh.
- The fight against poverty has always been at the forefront of the objectives of the bank's partnerships with member states and various institutions, Al-Jasser said.
Geostrategy
Jordan King discusses regional, security issues with EU leaders
The King discussed the latest regional developments and their impact on regional security, especially the Palestinian cause.
- The King discussed the latest regional developments and their impact on regional security, especially the Palestinian cause
- He expressed Jordan’s keenness, along with Arab countries, to launch regional cooperation projects that seek development and prosperity in several fields.
Business
Saudi personal finance market posts 4.4% jump to $18.96bn
Saudi Arabia's finance companies have provided a whopping $18.96 billion in personal finance loans to the kingdom's citizens during the...
- The real estate loans increased by 1.3 percent to SR26 billion in the first quarter compared to the last quarter of 2021
- Compared to the fourth quarter of 2021, the real estate loans for corporates recorded a higher growth rate at 4.74 percent against 0.72 percent increase that was seen in retail loa
Economy
IsDB’s Lives and Livelihood Fund provides $1.5bn to 33 member states
Abu Dhabi Fund for Development (ADFD), is one of LLF's key donor partners on this innovative initiative.
- Abu Dhabi Fund for Development (ADFD), is one of LLF's key donor partners on this innovative initiative
- The IsDB and development cooperation partners launched a US$2.5 billion LLF in 2016 with a joint vision to raise the poorest out of poverty
Business
Fitch enhances Ras Al Khaimah rating to ‘A’, outlook upgraded to ‘positive’
The government spending, partly supported by significant revenues from government assets, have enabled Ras Al Khaimah to diversify its economy,...
- The government spending, partly supported by significant revenues from government assets, have enabled Ras Al Khaimah to diversify its economy, says the latest Fitch report.
- The emirate’s agility in terms of spending has led to a budget surplus in the government sector equal to 1.4 percent of GDP in 2021, adds US-based credit rating company.
Business
Jordanian firms forge trade partnerships at APAS Show 2022
Jordanian companies forged trade partnerships during their participation in the APAS Show 2022, an annual food and beverages exhibition held...
- Seven companies participated in the Jordanian pavilion, which was organized by the Jordanian-Brazilian Business Association and Jordan Exports.
- Jordan Chamber of Industry President Fathi Jaghbir said the "successful" Jordanian participation has laid the groundwork for future business.
Business
MA’ADEN, GlassPoint to develop heat plant
The facility will be the world's largest solar process heat plant.
- When completed, the 1,500 MW solar steam facility will help MA’ADEN achieve sustainability goals by reducing carbon emissions by over 600,000 tons annually.
- This represents more than 50 percent reduction of carbon footprint in MA’ADEN’s Alumina refinery and 4% of MA’ADEN’s overall carbon footprint.
Business
ADNOC L&S acquires 3 LNG vessels
In April the company announced it will acquire two LNG vessels.
- All five new-build LNG vessels will be built at the Jiangnan Shipyard in China.
- ADNOC L&S, the shipping and maritime logistics arm of ADNOC, is region’s largest shipping and logistics company.
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
Dubai wins right to host 349 business event in 2023
DUBAI, UAE - Dubai consolidated its status as a central hub for international business events in 2023, with the city...
Business
Company News
Air Arabia Q3 net profit $113m
Business
Latest News
Stage set for UAE-Japan business council as Abu Dhabi secures 40% of Tokyo’s crude oil requirements
The proposed bilateral business council, aimed at developing joint projects and exchange expertise, is likely to be formed by the...
Business
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...
Arts & Culture
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...
Business
Most Read
Geostrategy
Jordan, India explore economic cooperation
AMMAN, JORDAN - Jordan's Minister of Investment Kholoud Saqqaf on Sunday received Indian ambassador in Amman Anwar Haleem for a...
- The minister briefed the envoy on the investment climate in the Kingdom and potential opportunities in various sectors.
- She emphasized business-friendly legislation and simplified government service delivery.
Geostrategy
Herzog becomes first Israeli president to visit Bahrain
Israeli President Isaac Herzog arrived in Bahrain, the first visit by an Israeli head of state to the small Gulf...
- Accompanied by an economic delegation, Herzog said he would discuss "ways to strengthen our economic cooperation".
- Herzog said he would then travel to UAE's capital Abu Dhabi.
Science
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...
- Locals fled on motorbikes sometimes three at a time as a mushroom cloud of ash approached and monsoon rains lashed the area in East Java.
- Indonesian authorities raised their alert level for the volcano to its highest after the crater spewed hot ash a mile into the sky.