136 UN employees killed in Gaza War, says UN chief
NEW YORK, US - UN Secretary-General Antonio Guterres said on Sunday that 136 United Nations employees in Gaza Strip had...
Geostrategy
Sharjah’s ‘Mleiha’ and ‘Al Dhaid’ added to Islamic World Heritage
Sharjah, UAE - The Islamic World Heritage Committee of the Islamic World Educational, Scientific and Cultural Organization (ISESCO) added the...
Arts & Culture
Business
DEWA aims to earn $2bn profit next year, not to sell more stock
DEWA has no intention to sell more stock, after having raised $6.1 billion in a record initial public offering, the...
- It is also eyeing 7.4 billion dirhams ($2 billion) in 2023 profit, amid a prospective IPO of its district cooling unit by the end of this year
- DEWA is seeking to spend 40 billion dirhams to expand over the next five years, with more focus on renewable energy
Business
El Khalifa to launch West Cairo projects
West Cairo has witnessed strong real estate development.
- He said the two projects are likely to be launched in May, coinciding with the beginning of the summer season, which represents the peak of real estate market activity.
- Both projects are located in the Green Belt in Sheikh Zayed city, where there is a strong volume of development, reconstruction and a demand from clients.
Arab News turns 47, renews resolve to provide ‘quality content’
Arab News, the leading multilingual pan-Arab daily, celebrated its 47th anniversary with a commitment to continue to be the platform...
- Since its establishment in 1975, the Riyadh-based newspaper has sought to be an international voice for Saudi Arabia and the Arab world
- In 2020, despite the challenges of the pandemic, Arab News launched its digital French edition
Business
Emirates Global Aluminum agrees credit facility tied to Term SOFR
Emirates Global Aluminum today announced the company has agreed a revolving credit facility tied to the Term Secured Overnight Funding...
- SOFR is the emerging replacement to the US dollar London Interbank Offering Rate (LIBOR), which has been the global lending benchmark for decades.
- SOFR provides a benchmark interest rate based on data from observable transactions, while LIBOR relied on disclosures from a panel of selected banks.
Economy
New housing package worth $1.71 billion approved for UAE citizens in Dubai
Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum has approved a new housing package worth AED 6.3 billion ($1.71 billion)...
- The package includes housing and land allotments for 4,610 Emiratis in the city, on the occasion of Eid al-Fitr and as part of the Housing Program for Dubai Citizens.
- Al Maktoum also approved the development of a new housing complex in Al Khawaneej area 2, which will include 1,100 residential villas.
Geostrategy
Arab, world leaders welcome Macron’s win
World leaders rushed to congratulate France's centrist President Emmanuel Macron on his re-election and defeat of far-right leader Marine Le...
- Saudi Arabia’s King Salman bin Abdulaziz Al Saud sent a cable to congratulate Emmanuel Macron on being re-elected for a second term as French president
- The UAE President Sheikh Khalifa bin Zayed Al Nahyan wished the French President continued success in achieving more progress and prosperity for the people of France
Geostrategy
Abu Dhabi Crown Prince, Egyptian President, Jordan king meet in Cairo, discuss regional issues
The three leaders discussed the developments taking place in Jerusalem and Al-Aqsa Mosque, stressing the need to stop any practices...
- The three leaders discussed the developments taking place in Jerusalem and Al-Aqsa Mosque, stressing the need to stop any practices that violate the sanctity of the holy mosque
- They called for avoiding escalation and calming the situation, stressing that the region is in need for peace, stability and cooperation to achieve progress and prosperity
Geostrategy
Israeli forces arrest 12 in West Bank as UN chief discusses peace efforts
Israeli forces on Sunday said they had arrested 12 people across the occupied West Bank over the weekend in connection...
- A total of 14 people have been killed in four attacks in Israel since March 22, including another shooting spree in Bnei Brak, an Orthodox Jewish city near Tel Aviv.
- Over the same period, 24 Palestinians have been killed across the West Bank, including assailants, as Israel has stepped up operations in response to attacks.
UNRWA may end services to refugees due to funding crunch
United Nations Relief and Works Agency for Palestine Refugees (UNRWA) is facing a financial implosion for the last 10 years,...
- The Commissioner-General of UNRWA, Philippe Lazzarini said this in a message to Palestinian refugees
- He explained that the annual shortfalls to the core program budget have regularly neared $100 million
Economy
Saudi non-oil exports jump 31 percent
The exports were driven mainly by chemical products which jumped 80 percent year-on-year with a share contribution to total non-oil...
- In February Saudi Arabia exported SR8.7 billion worth of chemical products — SR3.9 billion more than in the same month of 2021.
- The ratio of non-oil exports to imports increased to 50.6 percent in February 2022, up from 45.7 percent a year earlier.
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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
136 UN employees killed in Gaza War, says UN chief
NEW YORK, US - UN Secretary-General Antonio Guterres said on Sunday that 136 United Nations employees in Gaza Strip had...
Geostrategy
Company News
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FNC’s UAE-EU friendship groups meets with Czech parliament
PRAGUE, CZECH REPUBLIC - Members of the UAE-EU Parliamentary Friendship Group of the Federal National Council (FNC), headed by Sarah...
Geostrategy
DEWA to hold second General Assembly in December
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA), which is listed on the Dubai Financial Market (DFM), has announced...
Business
Poland opens Representative Office in UAE to boost trade relations
Abu Dhabi, UAE---Poland has opened a representative office in UAE capital Abu Dhabi to fuel the growth of bilateral trade...
Business
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Geostrategy
UAE takes part in IORA meetings in Bangladesh
DHAKA, BANGLADESH - The UAE participated in the Indian Ocean Rim Association's (IORA) 22nd Council of Ministers (COM) meeting and...
- The UAE affirmed its commitment to promoting inclusive growth and prosperity within the Indian Ocean region.
- The launch of the Sheikh Zayed IORA Scholarship for Humanitarian Action and Development was officially announced.
Business
Americana UAE IPO share price is $0.75
The company is the largest quick service restaurant operator in MENA.
- Americana is the largest out-of-home dining and quick service restaurant operator in the MENA region
- The concurrent book building process generated orders of approximately AED 386 billion
Economy
‘Dubai seeks to be among top digital economies’
Sheikh Hamdan bin Mohammed, who is also Dubai’s Higher Committee of Future Technology Development and Digital Economy Chairman, said this...
- Sheikh Hamdan has approved the new phase of the Dubai Metaverse Strategy, which aims to enhance the digital economy
- The new phase of the strategy aims to implement measures to empower the use of the metaverse and future technologies