Najran extends MoU with Ayan for Commerce & Industry
Jeddah, Saudi Arabia - Saudi Arabia's Najran Cement Company has announced the extension of its non-binding memorandum of understanding (MoU)...
Economy
Egypt leads Arab world in population with 113m citizens
DUBAI, UAE – Egypt stands as the most populous Arab country with 113 million people, marking it the 14th largest...
Geostrategy
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
Economy
Palestine wheat stocks could run out within 3 weeks
The cost of wheat flour in Palestine has already surged by nearly 25 percent because of the Ukraine crisis.
- Most households in the Gaza Strip are now buying food on credit
- Many families are eating less and lower quality of food items
Economy
Jordan Interior Ministry introduces 5-year entry visa
The decision also grants visa holders a temporary three-month stay that is obtained directly at border posts on each trip.
- The decision also grants visa holders a temporary three-month stay that is obtained directly at border posts on each trip
- The ministry said that it is working to create a safe environment for investors and simplifying procedures for their travel
Najran extends MoU with Ayan for Commerce & Industry
Jeddah, Saudi Arabia - Saudi Arabia's Najran Cement Company has announced the extension of its non-binding memorandum of understanding (MoU)...
Economy
Company News
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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
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Geostrategy
Jordan, Egypt discuss various aspects of transportation
ALEXANDRIA, EGYPT - Jordan's Minister of Transport Maher Abu Al-Samen discussed with his Egyptian counterpart Kamel Al-Wazir ways and means...
- The talks were held on the sidelines of the Council meeting of Arab Transport Ministers in Alexandria, Egypt.
- Jordan's minister hailed the constructive meeting of Arab Transport Ministers.
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.Â
- 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.