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
Russia’s Putin offers assistance in Gaza Strip de-escalation
MOSCOW, RUSSIA - Russian President Vladimir Putin has offered assistance in helping to deescalate the tense situation in the Gaza...
Geostrategy
Arts & Culture
Lebanon, France ink pact to preserve media archives
The Lebanese Minister of Information hailed the launch of the public media archives’ digitization project.
- The Lebanese Minister of Information hailed the launch of the public media archives’ digitization project
- The French Ambassador said this project is a glimpse of hope in light of the stifling crisis that is afflicting Lebanon
Business
Vaccine factory to come up in Khazaen City with $52m outlay
The first phase of the project is expected to be set up on a total area of 37,000 square meters.
- The agreement was signed by Khazaen CEO Salim Al Thuhli and Opal’s Chairman of the Board of Directors, Sa’ad Moosa Al Junaibi
- Al Thuhli was quoted by the official sources as saying that the project would be the first vaccine factory in Khazaen Economic City
Economy
UAE, UK hold technical workshops on illicit finance threats and risks
UAE and UK authorities met for a series of technical workshops in March 2022 in both Abu Dhabi and London...
- The workshops were held under the UAE-UK Partnership to Tackle Illicit Financial Flows.
- The experts discussed a range of key topics, including understanding money laundering threats and vulnerabilities in the UAE and UK.
Business
Weekly real estate transactions worth $1.44 bn recorded in Dubai
A total 2,012 real estate transactions worth 5.3 billion ($1.44 billion) were conducted in Dubai during the week ending April...
- A total of 236 plots were sold for AED 1.07 billion, while 1,415 apartments and villas were sold for AED 2.96 billion.
- A total of 53 properties were granted between first-degree relatives worth AED 269 million.
Business
Saudi Arabia to penalize owners for not fencing their ‘vacant land’
The Ministry of Municipal, Rural Affairs and Housing of Saudi Arabia has asked owners of vacant plots of land to...
- The ministry intends to beautify the urban landscape, protect property from encroachments, reduce visual distortions, encourage citizens to become environmentally friendly
- The ministry said that Riyadh, Dammam, Makkah, Al-Madinah and Jeddah are the target cities in the first phase where the decision will take effect
Business
DIFC launches ‘Studio Launchpad’ focused on ubiquitous finance
Dubai International Financial Centre (DIFC) has announced the launch of Studio Launchpad, saying it is the world’s first venture studio...
- The Launchpad is supported by an international group of venture building experts, digital asset pioneers and emerging technology strategists.
- Studio Launchpad is designed to attract and engage a consortium of leading start-up and corporate venture studios.
Business
SAMA directs banks to stop opening online accounts
SAMA, the Saudi Central Bank, has directed banks in the kingdom to put a stop to the opening of online...
- As per the new measures that will take effect starting April 10, accounts are to be opened through branches only
- Other measures include limits on daily electronic transfers and holding the international transfers for 24 hours
Economy
Economic licenses issued in Abu Dhabi saw 21.5 percent growth in 2021
Abu Dhabi issued 25,427 new economic licenses in 2021, an increase of 21.5 percent compared to the 2020 figure of...
- The report said that renewed economic licenses increased to 83,484, growing by 15.8 percent, from 72,070 in 2020.
- Of the 25,427 economic licenses issued, commercial sector licenses made up 24,077, up 21.4 percent from 19,839 in 2020.
Business
Saudi Re endorses capital hike
The hike to SR1.336bn will be used to fund expansion plans.
- The hike from SR891 million ($237.5 million) to SR1.336 billion through a rights issue would support its future expansion activities
- Pending approval of the Saudi Central Bank, the Capital Market Authority, and other regulatory authorities, this move will strengthen Saudi Re’s capital base
Business
Ma’aden extends MoU with Emirates Global Aluminium
The MoU will enable the two companies to deepen the focus on R&D, aiming at both conventional and green technologies.
- The MoU will enable the two companies to deepen the focus on R&D, aiming at both conventional and green technologies
- Ma’aden’s operates the largest vertically integrated aluminium complex in the world in Ras Al Khair on Saudi Arabia’s east coast
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
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
Company News
Latest News
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...
Geostrategy
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.
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.
Business
Most Read
Economy
China’s natural gas output up 12.3% in October
The country produced 18.5 billion cubic metres of natural gas in October, up 12.3 percent from a year ago.
- The country produced 18.5 billion cubic metres of natural gas in October, up 12.3 percent from a year ago
- In the first 10 months of this year, China's natural gas output rose 6 percent YoY to 178.5 billion cubic metres
Economy
Qatar’s IPI increases by 4.9 percent in September
Doha, Qatar— The Industrial Production Index (IPI) of Qatar has increased by 4.9 percent in September of 2022 when compared...
- The mining sector index showed a decrease by 2.8% compared to the previous month (August 2022)
- The index of the manufacturing sector showed a decrease by 5.3% compared to the previous month (August 2022)
Arts & Culture
Qatar’s excellence in organizing the World Cup refutes all allegations, says IPU head Duarte Pacheco
“Qatar has done everything in the best way, I don't understand some critics, because we didn't find these kind of...
- Qatar has prepared an integrated infrastructure for the FIFA World Cup, says Inter-Parliamentary Union President Duarte Pacheco
- Pacheco also praises the labor reforms implemented by the State of Qatar to protect the rights of workers