Emirates to recruit 5,000 crew members in 2024
DUBAI, UAE – Emirates will hire 5,000 people as it awaits the arrival of its fleet of Airbus A350s. The airline...
Business
Several MoUs signed at Future Minerals Forum in Saudi Arabia
RIYADH, SAUDI ARABIA – The third edition of the Future Minerals Forum (FMF), organized by the Kingdom’s Ministry of Industry...
Business
UAE tourism sector set new record in Q1 2022 : Tourism Minister
Tourism is deemed one of the future sectors and a key focus area in the UAE’s development vision for the...
- According to tourism figures for Q1 2022, the country's hotel establishments attracted nearly 6 million visitors
- The average duration of hotel guest stays reached 25 percent during the same period, up from 3 nights to 4 nights
Business
UAE and Turkey export credit agencies to enhance trade ties
Etihad Credit Insurance (ECI), the UAE Federal export credit company, has signed a Memorandum of Understanding (MoU) with Turkey’s export...
- The two export credit agencies will work together to facilitate trade and export and ease access to credit insurance and project financing, ECI said in a statement.
- Turkey is the UAE’s seventh-largest trading partner, with the non-oil trade between the two reaching AED 49.4 billion.
Economy
All work-related leaves in UAE fall under contribution period: GPSSA
Government sector employers are mandated to bear full contributions due from the insured in cases where he/she is accompanying a...
- The responsibility to pay contributions due by insured individuals varies depending on the reason for the leave granted by their employers.
- Both the insured and the employer bear their share of contributions according to what the law has determined in the case of a paid leave.
Business
Alpha Dhabi to invest $2.5 bn in Chimera
The fund will target investments in tech-enabled businesses.
- The investment comprises a capital contribution of AED2.6 billion and an undrawn capital commitment of AED6.6 billion.
- The fund's investment emphasis aligns with Alpha Dhabi's growth strategy, which focuses on investment in disruptive technologies.
Business
Etihad Rail signs expertise-exchange MoUs with Spanish, UK firms
Etihad Rail has signed three Memoranda of Understanding (MoUs) with Renfe, Spain’s national railway operator; High Speed 1, the first...
- The MoUs were signed during the second day of Middle East Rail 2022, which is hosted by Etihad Rail in partnership with the Ministry of Energy and Infrastructure.
- Middle East Rail is the largest transport event in the Middle East, North Africa and South Asia, will bring together leaders of the entire transportation community.
Business
UAE-Germany non-oil trade 10.5 percent to $9.5 billion in 2021
The non-oil trade between Germany and the UAE amounted to $9.5 billion during 2021, a 10.5 percent increase compared to...
- "Our economies are both very much geared for the possibilities of the future," Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade
- Al Zeyoudi said that Germany has become UAE's most important trading partner in the Middle East.
Economy
‘Lifeline’ of renewable energy can steer world out of climate crisis: UN chief
"We must end fossil fuel pollution and accelerate the renewable energy transition before we incinerate our only home," Secretary-General António...
- "We must end fossil fuel pollution and accelerate the renewable energy transition before we incinerate our only home," Secretary-General António Guterres said
- Guterres called for a new global coalition led by governments and bringing together tech companies, manufacturers and financiers to fast-track innovation and deployment
Business
Experts at GALF call for consolidating data to formulate policies
A panel deliberated on the advances in integrated, automated, electric mobility in the airport environment.
- A panel deliberated on the advances in integrated, automated, electric mobility in the airport environment
- The world’s largest airport industry B2B platform has a sharp focus on sustainability to help the aviation industry reduce carbon footprint year on year
Geostrategy
Saudi Foreign Minister meets Algerian counterpart
Prince Faisal bin Farhan bin Abdullah, the Saudi Foreign Minister had arrived in the Algerian capital earlier on Wednesday evening.
- Prince Faisal bin Farhan bin Abdullah, the Saudi Foreign Minister had arrived in the Algerian capital earlier on Wednesday evening
- The two sides also discussed views on enhancing joint cooperation in many aspects, in addition to exchanging views on the latest regional and international events
Economy
Egypt to host 2022 annual meetings of Islamic Development Bank
The meetings this year are being held to deliberate major economic and geopolitical developments characterized by the noticeable decline in...
- The meetings this year are being held to deliberate major economic and geopolitical developments characterized by the noticeable decline in the COVID-19 pandemic
- The meetings will provide an opportunity to study and explore ways to further consolidate economic relations amongst IsDB member countries
Emirates to recruit 5,000 crew members in 2024
DUBAI, UAE – Emirates will hire 5,000 people as it awaits the arrival of its fleet of Airbus A350s. The airline...
Business
Company News
GAL signs MoU with GMF
Business
Latest News
Strata announces new collaboration with Pilatus
The amended framework agreement with the leading Swiss aircraft manufacturer is set to further cement the collaboration between Pilatus and...
Business
Cameroon has great potential for investment in prospective sectors, says UAE minister Al Zeyoudi
Some companies are already discussing investment opportunities with Cameroon, including DP World that aims to manage some ports in Cameroon...
Business
US economy rose 2.9% in Q3, more than early report
The US economy grew more than initially reported in the third quarter this year, with government data released Wednesday reflecting...
Economy
Most Read
Business
Two new unconventional nonconventional gas fields discovered in Saudi Arabia
Awtad unconventional nonconventional gas field has been discovered southwest of Ghawar field, 142 km southwest of Al-Hofuf, says Saudi minister
- The Awtad unconventional nonconventional gas field has been discovered southwest of Ghawar field, 142 km southwest of Al-Hofuf, says Saudi minister
- Prince Abdulaziz bin Salman adds that the importance of these discoveries lies in increasing the Kingdom’s natural gas reserves
Business
Aramco completes three transactions with Polish refiner and fuel retailer
As part of the transaction, first announced in January 2022, the company acquired equity stakes of 30% in a 210,000...
- As part of the transaction, first announced in January 2022, the Saudi firm has acquired equity stakes of 30% in a 210,000 barrels-per-day refinery in Gdansk
- The Saudi oil company has also bought 100% stake in an associated wholesale business; and 50% in a plane fuel marketing joint venture with BP Europa SE
Business
AMEA Power completes $1.1bn deal to deploy 1GW of energy projects in Egypt
The landmark 500 MW wind and 500MW solar projects, represent US$1.1bn of investment into the Egyptian economy and takes the...
- The landmark 500 MW wind and 500MW solar projects, represent US$1.1bn of investment into the Egyptian economy and takes the company’s clean energy portfolio to 2GW in the country
- AMEA Power will build, own and operate the 500MW solar PV plant, which will be located in the Aswan governorate of Egypt. The Project is financed by International Finance Corp