UN General Assembly approves US$3.59bn budget for 2024
NEW YORK, US - The United Nations General Assembly (UNGA) approved a US$3.59 billion budget for 2024, including establishing a...
Geostrategy
UAE best performing economy in Arab region, says Arab Monetary Fund
Abu Dhabi, UAE - The United Arab Emirates was named the most economically competitive nation in the Arab world, a...
Economy
Business
France donates $5.5m to Jordan for a development project
The Jordan Education for Employment (JEFE) organization and the French Development Agency on Saturday signed a grant agreement worth 5...
- The refugees will be provided training and financial services as per the agreement
- Both parties on Saturday signed a grant agreement worth 5 million euros to launch the project
Arts & Culture
First World Cup in Middle East will be healthiest ever: FIFA President
Several measures will be implemented at this year’s FIFA World Cup Qatar in a bid to promote healthy lifestyles. Senior...
- World Health Organization, Qatar's health ministry and FIFA agree to implement several measures to promote healthy lifestyles at the mega event.
- The three entities will leverage the global power of football to help people lead healthy lives, said WHO Director-General Dr. Tedros Adhanom Ghebreyesus.
Business
Emirates Development Bank to facilitate $8.16 bn in lending by 2025
Emirates Development Bank (EDB) has said it will facilitate direct and indirect lending totaling AED30 billion ($8.16 billion) by 2025,...
- At its first Board meeting of 2022, the bank said it made AED1.91 billion contribution to the UAE’s GDP growth.
- The bank launched a new Credit Guarantee platform, which was able to mobilize more than AED332 million of capital to SMEs.
Business
Suez Canal posts 20% jump in revenue in Q1 of 2022
Suez Canal posted twenty percent increase in revenue in the first quarter of 2022 despite the Russian-Ukraine war disturbing the...
- The Suez Canal Authority recorded $1.7 billion revenue in the first quarter up from $1.4 billion a year earlier
- The number of ships transiting the canal from January to March this year increased by 15.8 percent, to reach 5,303 ships, up from 4,581 ships during the same period last year
Business
Petra records highest number of visitors since Covid pandemic
The ancient city of Petra in Jordan has registered the highest number of visitors since the start of the coronavirus...
- The city's visitors in March were: 43,533 of foreign nationalities, 3,859 from Arab countries and 6,504 Jordanians.
- Only 4,656 visitors of all nationalities, most of whom were Jordanians and Arabs, made it to Jordan's main tourism attraction during the month of March 2021.
Business
Tadawul bars three firms from trading in shares
Tadawul, the Saudi stock exchange, has barred three companies from trading in shares over their failure to issue financial statements...
- The exchange suspended Saudi Cable Co. shares from the main market
- It also suspended Obeikan Glass Co. and Advance International Company for Communication and Information Technology from the Nomu parallel market
Geostrategy
UAE, Israel cooperate to advance maritime transport sector
The MoU is said to be in the field of maritime transport, exchange of experiences, and strengthening strategic partnership.
- The MoU aims to enhance cooperation between the two countries in the field of transport, especially maritime
- It is also expected to help exchange experience and knowledge to serve the future directives for the next 50 years
Economy
Bahrain authorities allay fears over tomato price rise
Bahrain’s Ministry of Industry, Commerce, and Tourism has announced that big shipments of tomatoes would arrive within the next few...
- Bahrain’s Ministry of Industry, Commerce, and Tourism has said it is closely monitoring the availability of products in the central markets
- The ministry is looking to ensure that there are multiple options for basic food products, such as fruits and vegetables, at the usual prices
Business
Fitch Ratings says Saudi corporates’ funding mix is evolving
Saudi corporates’ funding mix is evolving, with the debt capital market for firms increasing noticeably and averaging a 10 percent...
- Fitch also expects the large Islamic banking sector to drive domestic sukuk growth
- Local Sukuk issuances have steadily grown in the local capital market, totalling 41 percent of DCM activity in 2021
Business
DEWA to increase shares for retail investors to 760 million
DEWA has decided to increase number of shares from 260 million to 760 million to be offered to retail investors...
- This means the number of shares offered in the DEWA IPO has increased from 8.5 billion ordinary shares to 9 billion ordinary shares
- Based on the previously announced price range of AED2.25 to AED2.48 per share, the Retail Tranche will now be between AED1.71 billion and AED1.88 billion
UN General Assembly approves US$3.59bn budget for 2024
NEW YORK, US - The United Nations General Assembly (UNGA) approved a US$3.59 billion budget for 2024, including establishing a...
Geostrategy
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
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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
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)