Mawani gets 79.01 points in UNCTAD’s Liner Shipping Connectivity Index for Q4 2023
RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) attained its highest improvement in the UNCTAD's Liner Shipping Connectivity Index...
Economy
Russia, Saudi say sovereign Palestine state vital for regional peace
RIYADH, SAUDI ARABIA – Russia and Saudi Arabia expressed concern on the present situation in Gaza and said that a...
Geostrategy
Business
UAE Central Bank, Bank of Korea renew bilateral currency swap pact
The agreement will allow the exchange of local currencies between the two central banks of up to AED20 billion and...
- The agreement will allow the exchange of local currencies between the two central banks of up to AED20 billion and up to KRW6.1 trillion for five years
- "The agreement with the Bank of Korea contributes significantly to the development of financial markets in both countries,” Mohamed Balama said
Economy
Qatar, UK ink pact on food safety, environmental health
Qatar Food Safety and Environmental Health Department Director Wassen Abdullah Al Bakr said that the agreement would enhance food safety...
- Qatar Food Safety and Environmental Health Department Director Wassen Abdullah Al Bakr said that the agreement would enhance food safety in Qatar
- It provides a framework for enhanced cooperation in food safety research, particularly food contaminant and risk management analyses
Business
QIB’s quarterly profit grows 14%
The Earnings per Share (EPS) amounted to QR 0.36.
- The Earnings per Share (EPS) amounted to QR 0.36 as of March 31, 2022 versus Earnings per Share of QR 0.32 for the same period in 2021
- Qatar Islamic Bank was founded in 1982 as the first Islamic financial institution in Qatar, with a capital of about 2,362 billion riyals
Economy
OPEC cuts 2022 world oil demand forecast due to Ukraine war
In a monthly report, the OPEC said world demand would rise by 3.67 million barrels per day (bpd) in 2022,...
- In a monthly report, the OPEC said world demand would rise by 3.67 million barrels per day (bpd) in 2022, down 480,000 bpd from its previous forecast
- The invasion in February sent oil prices soaring above $139 a barrel, the highest since 2008, worsening inflationary pressures
Economy
DMCC registers record 665 companies to its Free Zone in Dubai during Q1
Dubai Multi Commodities Centre, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, welcomed...
- This represents DMCC’s best first quarter since its inception over twenty years ago, a 13 percent year-on-year increase.
- In the first quarter of 2022 alone, 16 percent of all company registrations were for crypto-related activities.
Business
Czech Republic delegation explores business opportunities in Bahrain
A business delegation of Czech Republic visited Bahrain to explore investment opportunities and expansion of economic projects between the two...
- The delegation expressed keenness on cooperating with the Bahraini private sector for investment in various sectors.
- A minister said Bahrain welcomes all international investments and projects with added value to investment and investors.
Geostrategy
Oman becomes first GCC nation to ratify a treaty on rights of seafarers
Oman has become the 100th country to ratify a 2006 treaty that protects the rights, pay and conditions of seafarers. The...
- Maritime Labor Convention has become a worldwide reference for the maritime industry and a pillar of international maritime rules and regulations since its signing in 2006.
- Guy Ryder, the ILO Director-General, said Oman, a longstanding maritime nation, has set an example for other countries in the region.
Business
Two firms set up UAE’s first Special Purpose Acquisition Company
ADQ, an Abu Dhabi-based investment and holding company, and Chimera Investments, an Abu Dhabi-based private investment firm, announced they have...
- The ADC Acquisition Corporation ADQ has been formed by ADQ and Chimera Investments, an Abu Dhabi-based private investment firm.
- ADC plans to raise AED367 million through an Initial Public Offering (IPO) of 36.7 million shares at an offer price of AED10 per share.
Geostrategy
Jordan plans to expand cultivation of wheat, barley
The plan includes allocating interest-free loan packages to farmers through the Agricultural Credit Corporation.
- The plan includes allocating interest-free loan packages to farmers through the Agricultural Credit Corporation
- Jordan Minister of Agriculture, Khaled Hneifat said the ministry will provide seeds to grow wheat and barley in alignment with the climatic condition of the cultivation areas
Economy
Qatar, Iran ink bilateral pacts in aviation sector
An agreement to increase the number of flights between Qatar and Iran was also signed.
- An agreement to increase the number of flights between Qatar and Iran was also signed
- A series of meetings were also held between the two sides to enhance cooperation in the transport sector
Most Read
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
Mawani gets 79.01 points in UNCTAD’s Liner Shipping Connectivity Index for Q4 2023
RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) attained its highest improvement in the UNCTAD's Liner Shipping Connectivity Index...
Economy
Company News
Latest News
AD Ports Group, TotalEnergies partner to explore solar power opportunities
The agreement comes as Abu Dhabi accelerates its development of solar energy solutions to support the wider UAE net-zero emissions...
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....
Economy
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,...
Business
Most Read
Geostrategy
UAE, Turkmen presidents’ meet, witness signing of MoUs, pacts
The agreements included one between the foreign affairs ministries of the two countries and an MoU in the agricultural and...
- The agreements included one between the foreign affairs ministries of the two countries and an MoU in the agricultural and food security sector
- The two leaders also exchanged views on several regional and international issues of mutual concern
Business
DMCC digitises gold trading through tokenisation of Comtech gold bullion
DMCC Tradeflow is an online platform for registering the ownership of commodities stored in UAE facilities.
- DMCC Tradeflow is an online platform for registering the ownership of commodities stored in UAE facilities
- The partnership with Comtech Gold adds to Tradeflow’s list of Shariah compliant products, given that the tokens are backed by physical assets
Business
UAE approves law to link up renewable energy units with electrical grid
Abu Dhabi, UAE— The UAE's Ministry of Energy and Infrastructure has announced the approval of the federal law regulating the...
- The new law aims to enable the production of electricity from renewable sources and achieve the UAE's objectives in terms of diversifying renewable energy sources
- The UAE has made large investments over the last several years to develop renewable sources of energy