Tabreed gets US$163m Green Revolving Credit Facility
ABU DHABI, UAE - Tabreed on Thursday announced the successful closure of its inaugural US$163 million (AED600 million) Green Revolving...
Business
Infographics
Star-studded projects point to Saudi transformation
Some of the iconic real estate holdings developed by Taiba throughout Saudi Arabia suggest that the Kingdom is headed towards...
- The company is a key supporter of Saudi Arabia’s transformative Vision 2030, in particular in regard to economic diversification.
- Taiba, which has interests in hotels, tourism facilities and real estate, has a market capitalization of $1.5 billion, Refinitiv data shows.
Economy
Abu Dhabi Business Centre adds 80 new economic activities during 2021
The Abu Dhabi Business Centre (ADBC), a part of Department of Economic Development (ADDED), announced that 80 new economic activities...
- New added activities cover many vital business sectors, including 40 new commercial activities, 25 professional and six industrial activities.
- In agricultural sector, the new added activities include beekeeping training, breeding reptiles and amphibians.
Geostrategy
King of Jordan asks Israel to respect sanctity of Al-Aqsa
King Abdullah stressed that maintaining calm requires Israel to respect the historical and legal status quo in Al Aqsa Mosque.
- It includes ceasing all illegal and provocative measures that violate it and could push towards further escalation
- King Abdullah directed Jordan to continue its regional and international efforts and communications to stop Israeli escalation
Business
Jordan and Azerbaijan look to boost trade ties
According to the statement, a Jordanian-Azerbaijani Economic and Investment Business Forum will be held in the coming period
- The meeting also discussed the successful economic policies established by the Kingdom to support the private sector
- It encourages foreign investment and provides more investment opportunities for companies wishing to invest in the Kingdom
Business
SHL of KSA to be on bourse
Saudi Home Loans to trade on Tadawul from April 20.
- Operating since 2007, SHL is 40-percent owned by Arab National Bank, the second-largest shareholder is Dar Al Arkan, with 15 percent of the share capital
- The Riyadh-based company raised SR600 million ($160 million) in an initial public offering last month that saw huge demand from investors
Economy
Morocco’s official reserve assets reach $33.39 billion on 1 Apr
Morocco's official reserve assets amounted to 329.1 billion ($33.39 billion) Dirhams on 1 April 2022, up by 8.2 percent compared...
- During the week of April 7-13, 2022, the Dirham depreciated by 1.06 percent against the US Dollar and by 0.16 percent against the Euro.
- On the interbank market, the average daily volume of trade stood at 4.2 billion Dirhams while the interbank rate stood at 1.5 percent on average.
Business
Tamimi Markets of KSA to develop smart farms with foreign firms
Tamimi Markets, Saudi supermarket chain, has teamed up with Japan's Mitsui & Co. and Italy's Zero SRL to develop the...
- The three partners aim to develop the next generation of vertical smart farms in the Al-Kharj area of Saudi Arabia
- Starting with Riyadh, the new joint venture will bring fresh produce to the market using far less water than traditional farming techniques
Economy
Iraqi PM sets up workgroup to coordinate gas supply with Iran
Al-Kadhimi asked the workgroup to visit Iran and remove the obstacles hindering the supply of gas to Iraqi electricity power...
- Al-Kadhimi asked the workgroup to visit Iran and remove the obstacles hindering the supply of gas to Iraqi electricity power plants
- Earlier this month, Iraqi Electricity Minister Adel Karim had said that Iraq will need to import gas from Iran at least for the next couple of years
Business
QEWC profit up 4.5% in Q1
Profits in the first quarter of 2022 reached $106.78 million.
- QEWC is one of the largest energy production and desalination companies in MENA
- It is the main provider of electricity and desalinated water in Qatar
Economy
Jordan is regional hub for trade, investment: Minister
Jordan Minister of Investment, Khairy Amr, said the government seeks to turn Jordan into a destination for foreign and Arab...
- Jordan Minister of Investment, Khairy Amr, said the government seeks to turn Jordan into a destination for foreign and Arab investments
- He pointed out that the Ease of Doing Business report issued by the World Bank ranked Jordan among the 10 most reformed countries in the world
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Future depends on measures we take today: UAE envoy
"Both of our national leaders (in the UAE and China) are keenly aware of the fact that, as two advanced...
Geostrategy
AD Ports to conduct ‘joint training exercise’ at Delma Port
Abu Dhabi, UAE— AD Ports Group will conduct a joint training exercise at Delma Port on November 24. The exercise,...
Business
Aircraft orders drive US manufactured goods demand
A pick-up in aircraft orders boosted demand for big-ticket US manufactured goods in October, with numbers rising more than expected,...
Economy
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Economy
First batch of Certified Government Legal Advisors graduate from ADJA
ABU DHABI, UAE - The Abu Dhabi Judicial Academy (ADJA) celebrated the graduation of the first batch of the foundation...
- The program will prepare trained and specialized human cadres capable of understanding, assimilating and developing the legal systems.
- The program combines practical and theoretical training and to provide the cadres with basic skills that ensure efficient performance of their work.
Business
Lulu Group, Amazon sign agreement
They will optimize online grocery shopping for UAE customers.
- The products include everyday essentials and fresh grocery items delivered using fast-delivery options through the Amazon.ae online platform.
- Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (ADDED), said that such partnerships are what Abu Dhabi and the UAE continue to push for.
Business
Abu Dhabi DoH, Eversight to jointly set up UAE’s first eye, tissue bank
ABU DHABI, UAE - Abu Dhabi's Department of Health (DoH), the regulator of the healthcare sector in the Emirate, and...
- Department of Health Abu Dhabi and Eversight will focus on implementing the necessary arrangements for the eye and tissue bank.
- Eversight will develop a comprehensive medical framework to standardize and operate procedures on all clinical functions.