World Bank to expand climate funding in MENA by $10 billion
Brhane said the World Bank integrated climate into all its work across the MENA region and is on track to...
COP28 UAE
Mideast ministers met with Joly, Trudeau in Ottawa to discuss Israel-Hamas war
OTTAWA, CANADA — A group of foreign ministers from the Palestinian Authority, Saudi Arabia and Turkey met Canadian Foreign Affairs...
Geostrategy
Business
Saudi Eastern Province launches 11 investment projects in Dammam
Saudi Arabia’s Eastern Province has launched 11 investment projects in Dammam metropolis. The Undersecretary for Investments and Revenue Development, Eng....
- The launch of these investment sites is part of the objective of 40 investment projects with an area of 3 million square meters.
- The duration of investment projects is 25 years, subject to extension, according to Undersecretary for Investments and Revenue Development, Eng. Hamdan Al-Aradi.
Business
Al Seer begins VLGC construction
Lucky Gas is the company's first Very Large Gas Carrier.
- Last year, Al Seer Marine formed a joint venture named ABGC DMCC with BGN International to build two new VLGCs.
- Lucky Gas is expected to be completed and delivered by March 2023. The second VLGC, named North Gas, is expected to commence steel cutting in May 2022.
UNGA welcomes Qatar’s hosting of 2022 FIFA World Cup
The 2022 World Cup, organized by the international football association (FIFA), is the first such event in the Middle East.
- The 2022 World Cup, organized by the international football association (FIFA), is the first such event in the Middle East
- The General Assembly adopted its resolution under the title "The 2022 World Cup organized by FIFA in Qatar."
Business
QIC, QInvest partner to form asset management company
The new company, jointly owned by QIC and QInvest, will be a Sharia'a compliant entity, regulated by Qatar Financial Centre...
- The new company, jointly owned by QIC and QInvest, will be a Sharia'a compliant entity, regulated by Qatar Financial Centre Regulatory Authority
- Founded in 1964, QIC was the first domestic insurance company in Qatar. It is listed on the Qatar Stock Exchange
Geostrategy
Qatar gives $5m to Ukrainian refugees, reminds world of Syrian, Palestinian refugees
Al Khater reiterated Qatar's call for an immediate cessation of military action in Ukraine and securing humanitarian corridors to ensure...
- Al Khater reiterated Qatar's call for an immediate cessation of military action in Ukraine and securing humanitarian corridors to ensure aid access
- She called for resolution of the dispute through constructive dialogue and diplomatic methods, and avoiding what can lead to further escalation
Business
UAE tycoon slams bogus listicles
Forbes recently published Top 10 Richest Arab billionaires list and was criticized for ignoring many nationalities and known wealthy businessmen.
- Forbes recently published “Top 10 Richest Arab billionaires” list and was criticized for ignoring many nationalities and known wealthy businessmen
- Egyptian billionaire businessman Nassif Sawiris with $7.7 billion topped the Forbes list, followed by Algerian Yassaad Rabab and family at $5.1 billion
Business
Dubai issues 24,662 new business licenses in Q1 2022
Dubai has issued 24,662 new business licenses in Q1 2022, a report by the Department of Economy and Tourism (DET)...
- A DET Business Registration and Licensing report said 57 percent of the new business licenses issued during Q1 2022 were professional and 43 percent commercial.
- A total of 136,034 business registration and licensing transactions were completed during Q1 2022, a growth of 36 percent compared to Q1 2021.
Arts & Culture
What determines duration of a Ramadan fast?
The fasting hours are actually determined by geography and vary from one country to another. People in the relatively cooler...
- Hundreds of millions of Muslims across the world abstain from eating and drinking from early dawn to dusk. They also shun sex with their spouses during the fasting hours.
- Some places, like areas near the Arctic where sun appears never to set during certain months, pose a dilemma for the faithful.
Business
India’s Taj Group eyes Gulf expansion, to build hotel in Makkah
The luxury hotel chain is planning 15 new hotels in the next 10 years, which include at least 5 new...
- The luxury hotel chain has planned 15 new hotels in the next 10 years
- This includes at least 5 new properties in Dubai and a new hotel in Makkah
Business
President of Jordan Chambers praises reforms to boost business
President of the Jordan and Amman Chambers of Industry Fathi Jaghbir said Saturday that the National trade window to facilitate...
- Trade facilitation window had helped to reduce the time for clearance and boost the competitiveness of sectors, he said
- Single window for trade carries out the logistical measures of the Customs Department and other entities on clearance and export
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
World Bank to expand climate funding in MENA by $10 billion
Brhane said the World Bank integrated climate into all its work across the MENA region and is on track to...
COP28 UAE
Company News
ADCB Q3 net profit at US$432m
Business
Latest News
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...
Business
OPEC+ isn’t discussing output increase: Saudi minister
The "categorical denial" has come after the Wall Street Journal reported on Monday that Saudi Arabia, which co-leads the OPEC+...
Business
Global economic woes take toll on GCC contracts
High inflation and the West's sanctions on Russia for its Ukraine invasion besides the supply chain disruptions caused by China's...
Infographics
Most Read
Business
Dubai Aerospace acquires Sky Fund Irish I
Sky Fund I leases aircraft to 14 airline customers.
- Next-generation technology aircraft represent more than 90 percent of the acquired portfolio.
- DAE's owned portfolio will now comprise nearly 50 percent of fuel-efficient, next-generation aircraft.
Business
ADNOC Drilling to buy 3 rigs
The company bought four rigs between May and Aug. this year.
- The three brand new high-specification offshore jack-up drilling units (rigs) will be purchased for AED1.17 billion ($320 million).
- Since listing on the Abu Dhabi Securities Exchange in October 2021, ADNOC Drilling has expanded its fleet from 95 to 108 owned rigs, as of 30th September.
Geostrategy
Blinken to arrive in Qatar for strategic dialogue, World Cup
Washington, US— US Secretary of State Antony Blinken is going to arrive in Doha on Monday to support Team USA...
- Blinken will be in Qatar between 21 and 22 November, where he is scheduled to meet senior Qatari officials
- The Qatar-US Strategic Dialogue, which will be held on Tuesday, is expected to address security cooperation, trade and investment, humanitarian assistance and human rights