Israel must be held accountable for its actions, says Palestinian PM
DOHA, QATAR - Prime Minister of Palestine Mohammad Shtayyeh called for holding Israel accountable, imposing sanctions and not allowing it...
Geostrategy
Business
Real estate trade volume in Amman $1.6 billion by March end
The total real estate trading volume in Jordan by the end of March reached JD 1.414 billion ($1.6 billion). The...
- Iraqi investors ranked first with a total of 202 real estate sales and Saudi second with a total of 194 sales among non-Jordanian investors.
- Real estate sales in Amman were distributed over 6,077 apartments and 8,265,000 plots of land.
Business
Almarai posts $112m profit in Q1
The Saudi dairy company recorded 9% jump in net profit.
- The Saudi dairy giant posted the jump in profit for the first quarter of 2022 on the back of higher revenue
- Results were attributed to a hike in revenue of 23.6 percent and gross profit of 7.8 percent, even as selling and administration expenses went up
Geostrategy
Syria again accuses US of stealing oil through Iraq
Syria has over the past few months repeatedly accused the US of using its forces to steal oil from its...
- Local sources in the Yarubiya countryside said that US forces on Saturday brought out a convoy of 60 vehicles
- This, they said, included a number of trucks and tens of tanks loaded with ‘stolen Syrian oil’ being taken to Iraq
Business
Abu Dhabi grants Binance approval to operate in emirate
Abu Dhabi has allowed Binance, the world’s leading blockchain and cryptocurrency infrastructure provider, to operate as a broker-dealer in virtual...
- The company has received approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM)
- Upon the successful completion of its ADGM FSRA application, Binance will then be able to offer its services regarding virtual asset offerings to customers across the MENA region
Science
Pandemic ‘far from over’, but ‘let’s end it together’, says UN chief
The UN chief said countries need to fulfil and accelerate dose-sharing and donation commitments in order to reach the billions...
- Antonio Guterres said the spread of Omicron was “a startling reminder of how quickly COVID-19 can mutate and spread
- The Omicron variant of the novel coronavirus is now surging in the form of the BA2 variant in many parts of the world
Business
Abu Dhabi launches drive to keep infected Kinder products away
The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) has said that the Abu Dhabi's markets are completely free of...
- The Authority's inspectors checked Abu Dhabi's markets to ensure whether suspected products were identified in the alert or not
- It also coordinated with suppliers and food facilities and contacted the local agent "Ferrero" in UAE
Economy
S&P degrades Russia’s forex payments rating to ‘selective default’
Credit rating agency S&P Global Ratings on Saturday downgraded Russia's foreign currency payments rating to "selective default" after Moscow paid...
- The agency does not expect investors to be able to convert the ruble payments to dollars equivalent to the amounts originally due
- Russia's finance ministry on Wednesday announced it had made a payment of almost $650 million due on April 4 in rubles
Business
EDGE picks up a new CEO
Saif Ali Al Dahbashi will be the CEO of AL TAIF, an EDGE firm.
- AL TAIF is part of the Land division within EDGE Group’s Platforms & Systems cluster
- The firm is the eading UAE in-country provider of lifecycle support for military land platforms and systems through maintenance, repair and overhaul
Business
Taaleem of Dubai in discussions with banks for IPO
Taaleem, the Dubai school operator, is in initial stage of talks with banks for an initial public offering in Dubai.
- The Dubai government last week decided to freeze tuition fees for the year 2022-2023, its third year in a row to help ease the financial burdens on parents
- In a report to clients, ratings agency Moody’s last month said the tuition fee freeze was credit negative for Dubai’s largest education provider Gems
Economy
S&P keeps Kuwait’s credit ratings at A+ with negative outlook
Kuwait's long and short-term foreign and local currency sovereign credit ratings have been affirmed at 'A+/A-1' by Standard & Poor's...
- The international agency also cautioned that it could lower the ratings if no sustainable comprehensive financing arrangements are agreed
- The S&P forecasted that higher oil prices would bolster Kuwait's fiscal and balance of payments positions over 2022-2023
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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
Company News
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Masdar Green acquires properties
The 3 Pearl rated properties in Masdar City are worth $254m.
Business
Dubai Aerospace acquires Sky Fund Irish I
Sky Fund I leases aircraft to 14 airline customers.
Business
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Business
FIFA World Cup: Coca-Cola Middle East launches locally produced 100% rPET bottles
350ml Coca-Cola, Sprite and Fanta bottles, plus 500ml Arwa water bottles, will be available to consumers.
- 350ml Coca-Cola, Sprite and Fanta bottles, plus 500ml Arwa water bottles, will be available to consumers
- The Coca-Cola Company has has been an official sponsor of the FIFA World Cup since 1978
Business
AD Ports Group and Transmar launch new Pakistan Service
The new container shipping service links Karachi with the region’s major ports within UAE, KSA, Egypt, Jordan, Sudan and Djibouti.
- The new container shipping service links Karachi with the region’s major ports within UAE, KSA, Egypt, Jordan, Sudan and Djibouti
- The new route will contribute to AD Ports Group’s strategic objectives of increasing regional and global connectivity
Arts & Culture
Sheikh Zayed Festival to air World Cup matches for fans
Abu Dhabi, UAE— The Sheikh Zayed Festival will provide a number of screens for the regular airing of the FIFA...
- According to the Higher Committee organizing the festival, the screens will be set up throughout different areas from the 20th November to 18th December 2022
- Fans can enjoy an exciting array of events, before and after games that include concerts, entertainment, heritage and cultural shows