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
PM issues law forming Dubai Investment Fund to oversee government investments
DUBAI, UAE – Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has issued Law...
Business
Business
Jordan and Turkey’s Solvest company sign MoU to mine copper
Jordan and Turkey will jointly mine copper in Abu Khashaba Canyon and Ghor Fifa in Southern Jordan. Jordan’s Ministry of...
- The mining project will be implemented on a 20-km² plot of land after studies had shown large and concentrated quantities of copper ore.
- During the MoU's one-year period, the company will conduct several mining and exploration studies to evaluate copper underground repositories.
Geostrategy
Saudi organizations launch program to support Yemeni medical facilities
The Saudi Development and Reconstruction Program for Yemen (SDRPY) and the Saudi Red Crescent Authority (SRCA) announced today the provision of...
- The assistance is in the form of 30 ambulances and highly equipped urgent response vehicles.
- This announcement was made during the signing of a memorandum of cooperation between SDRPY and the SRCA, in Riyadh.
Geostrategy
Saudi Arabia pledges support to Lebanon in ‘tough times’
The Saudi ambassador to Lebanon, Waleed Al-Bukhari, has pledged the kingdom's support to Lebanon and its people during 'tough times.'...
- The Lebanese presidency said in a statement that the Saudi diplomat's remarks came during his visit to the Lebanese President Michel Aoun in Baabda Palace earlier today
- Al-Bukhari briefed President Aoun on the working mechanism of the Saudi-French joint Fund, allocated to humanitarian aid
Business
Dubai Next expects increase in ‘fund seekers’
Dubai Next, the digital crowdfunding platform that has attracted many young innovators and start-up ideas, is anticipating an increase in...
- This follows the country approving a federal system for such platforms recently
- Between the first three months and now, the campaigns have increased by 50 percent
Arts & Culture
More than half of Abu Dhabi population reads regularly: Poll
The number of people in Abu Dhabi who have developed a habit of reading regularly has increased from 38 percent...
- The poll said 79 percent of population prefers reading online, while 92 percent think that Abu Dhabi government entities have done their part in fostering the reading culture.
- According to the poll results, 61 percent of the respondents who do not read regularly said they do not have enough time to develop a reading habit.
Expo 2020 DUBAI
Expo 2020 was a ‘truly remarkable World Expo’: Dimitri S Kerkentzes
Terming the hosting of Expo 2020 Dubai as a 'truly remarkable World Expo, Dimitri S Kerkentzes, Secretary-General of the Bureau...
- Secretary-General said "Expo 2020 Dubai became a beacon of unity and hope, one that reminded us of the importance of human solidarity and international cooperation"
- He added: "It has shown that by connecting the world, we can explore the realm of infinite possibilities for the benefit of humanity"
Business
KSA and Kuwait call on Iran to hold talks on divided gas field
Saudi Arabia and Kuwait have appealed to Iran to hold negotiations on demarcating the eastern boundary of the submerged Dorra...
- Both countries have previously invited Iran for negotiations, but there was no response from Iran
- The field is expected to produce 1 billion cubic feet of natural gas per day with 84,000 barrels of condensate daily
Business
ADQ invests in Egypt
The Abu Dhabi-based firm has an office in Cairo.
- These transactions are part of ADQ's commitment to investing in the country’s economic growth through its $20 billion joint strategic investment platform.
- The transactions include stakes in Commercial International Bank (CIB), one of Egypt’s largest banks.
Economy
KSA to back joint Arab actions, develop regional economic ties
The Cabinet authorized the Tourism Minister to discuss tourism promotion with Iraq.
- The Cabinet authorized the Tourism Minister to discuss tourism promotion with Iraq
- Approval was also given for an MoU between Saudi Arabia and Algeria in housing field
Business
Sumou, Al Shabab sign contract
The Saudi real estate firm will develop club's land in Riyadh.
- The contract is for the purpose of leasing and investing the club’s land located on King Fahd Road and Olaya Road
- Sumou will pay an annual rental fee of SR19.3 million
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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
Company News
ADIB posts $272m net profit
Business
Latest News
Saudi Aramco signs 59 procurement agreements under Iktva
Dhahran, Saudi Arabia-- Saudi Aramco Tuesday signed 59 corporate procurement agreements (CPAs) valued at $11 billion with 51 local and...
Business
UAE economy expected to grow more than 6 percent in 2022: IMF
The country's inflation has risen with global trends and is expected to average just over 5 percent this year, while...
Economy
ADIB Securities 9M trades $5.98bn
ADIB Securities is a Shari'a-compliant brokerage firm in the UAE.
Business
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Economy
Jordan and Iraq to deepen political, economic ties
Amman, Jordan— Jordan and Iraq have renewed their commitment to deepen political and economic ties between the two neighboring countries....
- During bilateral talks King Abdullah expressed keenness to enhance the strong ties between the two countries
- Discussions covered regional issues and crises, the Palestinian cause, and efforts to counter terrorism
Business
Leader of House of Commons urges Kuwaiti entrepreneurs to invest in UK
Kuwait City, Kuwait— Encouraging Kuwaiti entrepreneurs to make investments in the UK, Penny Mordaunt, Leader of the House of Common,...
- She said that she discussed with the prime minister the partnership that has existed for long years at the defense and cyber security levels
- Mordaunt added that her talks with the Kuwaiti officials during her visit addressed prospects of increasing cooperation in investments and the Kuwaiti businesses in her nation
Economy
China unveils plan to shore up industrial economy
Beijing will adopt industry, region and enterprise-specific measures to secure the sound development of key industries.
- Beijing will adopt industry, region and enterprise-specific measures to secure the sound development of key industries
- Efforts will be made to tap into market potential to grow consumer demand, stabilise exports of industrial products