Ahli Islamic signs agreement with AAOIFI to support Islamic banking
MUSCAT, OMAN - As part of its ongoing efforts to support the Islamic banking industry, ahli Islamic signed a Memorandum...
Business
Over 12m people visit Riyadh Season in 60 days
RIYADH, SAUDI ARABIA - Two months after their launch, on October 11, 2023, Riyadh Season events had already attracted 12...
Arts & Culture
Geostrategy
Winners for Kuwait’s municipal council polls announced
The winners for the 13th Legislative session in Kuwait's eight constituencies were announced Saturday on Kuwait State Television. The Judges...
- The Judges announced 10 winners and members of the new municipal council.
- All the 10 winners will be granted a membership of four years in municipal council.
Business
DEWA research facility registers patent for drone charging system
Dubai Electricity and Water Authority’s (DEWA)’s Research & Development Centre has registered a new patent for an Unmanned Aerial Vehicles...
- The system enables continuous charging for UAVs, providing longer flying hours with a large storage capacity.
- DEWA said the system can be used for government, military, commercial, and personal operations.
Economy
UAE unveils major structural change in educational system; appoints new ministers
Under the directives of President Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime...
- Ahmad Belhoul Al Falasi has been appointed as the UAE's Minister of Education
- The new structure in the education sector includes the Education and Human Resources Council, Federal Authority for Quality of Education and Ministry of Education
Economy
Iraq’s financial reserves may reach $40 billion by 2022 end: Official
Iraq's financial reserves are expected to reach $40 billion in case the current fiscal year ends without enacting a budget...
- Mazhar Muhammad Salih, advisor to Prime Minister, said the caretaker government will work hard to support Iraq's food security.
- Salih added that the annual government spending in the general budget constitutes nearly half of the gross domestic product.
Business
Qatar Chamber signs deal with Spanish firms to promote trade
Qatar Chamber signed a deal with two Spanish organizations by which it seeks to enhance economic, commercial and trade cooperation...
- There are about 50 Spanish companies operating in Qatar in various sectors like trade, contracting, services.
- Bilateral trade exchange between both countries hit $1.2 billion last year compared with $820 million in 2020.
Business
Iraq will have a surplus of the difference in selling oil: FM
Iraq's Finance minister said during a Television interview, "Iraq will have a surplus of the difference in selling oil, up...
- Minister said in a Television interview, "Iraq will have a surplus of the difference in selling oil, up to 20 billion dollars"
- According to the Iraqi Minister, 2021 budget is unable to cope with economic fluctuations
Economy
Central Bank of Iraq increases its capital to $3.42 billion
The Central Bank of Iraq has announced an increase in its capital to 5 trillion dinars ($3.42 billion) Iraqi media...
- The bank decided to its capital from 3 trillion dinars to 5 trillion dinars.
- The increase was made using part of the profits achieved by CBI in 2021.
Business
UAE tea exports increase to AED1.2bn in 2020
The UAE has found its way into an exclusive club of top five tea-exporting countries in the world, with total...
- The tea trade volume reached AED586 million in Q1 this year, including exports worth AED310 million, re-exports of AD51 million and around AED224 million in imports
- the UAE tea trade last year stood at around AED1.859 billion, including exports worth AED968 million, re-exports of AED128 million, and AED763 million of imports
Geostrategy
UAE renews pledge to Palestinian cause for independent state
UAE stressed the need to respect Jordan’s role in caring for the holy sites and endowments in the Holy City...
- Speaker of the Federal National Council called Palestinian cause "the first and foremost issue" of the Arab world
- UAE praised Morocco’s king and said “We also commend the role played by His Majesty King Mohammed VI in supporting people of Jerusalem"
Business
Strong demand spurs Dubai’s realty growth
The market performed well in 2021, with average home prices and rents increasing by 9.3 percent and 8.3 percent, respectively....
- According to a report by Asteco Property Management, 2021 witnessed the delivery of about 17,000 housing units, including 15,000 apartments and 2,000 villas
- Manager Partner of BSA, Jimmy Haoula, explained that the UAE had outshined many of its neighboring jurisdictions with a welcoming economy and a safe place to grow and live
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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
Ahli Islamic signs agreement with AAOIFI to support Islamic banking
MUSCAT, OMAN - As part of its ongoing efforts to support the Islamic banking industry, ahli Islamic signed a Memorandum...
Business
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Qatar Charity organizes events for its sponsored orphans around the world
The events aim to focus on the rights of the child and the duties of states and societies in order...
UAE moon rover launch put off, to run more ‘pre-flight checks’
Dubai, UAE— The UAE’s moon rover launch has been delayed by one day in order to run more pre-flight checks,...
Science
Saudi Arabia extends term of $5 billion deposit for Central Bank of Egypt
The Egyptian economy has been hard-hit by the coronavirus pandemic and the war in Ukraine.
Economy
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Business
$121bn GCC projects in pipeline: Trust, transparency key to their success, TOP CEO Conference heard in May
Beside leadership and vision, trust, communication and transparency between all the stakeholders play a key role in any and every...
- Beside leadership and vision, trust, communication and transparency between all the stakeholders play a key role in any and every project’s success, experts had said at the event.
- More than $50bn of social infrastructure work, according to Meed Projects, is being executed across the Gulf region, while the remaining $70bn is in various stages of planning
Business
Like in climate discourse, digital transformation will eventually edge out the big players, says media expert
“Some big techs are facing crisis with large-scale layoffs and investment cuts. As digital space offers enough space and opportunity...
- Unlike in the industrial revolution, the developments in Information and Communications Technology (ICT) are quicker, says Asian College of Journalism Chairman Sashi Kumar
- 'Rational human beings, interested in transformation in media and communication as a vehicle for the betterment of society, should be worried about technological fundamentalism'
Economy
UAE president waives over $146 million debt for 1,214 Emiratis
The Non-performing Debt Relief Fund will settle the money owed by Emiratis to 17 banks and institutions.
- The Non-performing Debt Relief Fund will settle the money owed by Emiratis to 17 banks and institutions
- Al Suwaidi said that the waiver falls within the UAE leadership’s keenness to ensure a decent life for all UAE nationals