Climate chaos impact on millions frames discussions at COP28
With the countless repercussions of extreme weather conditions, the planet is witnessing increasing political unrest, deaths and diseases.
COP28 UAE
Business
PIF of Saudi Arabia looks to buy stakes in four construction firms
PIF, Saudi Sovereign Wealth Fund, is in talks with four construction firms in order to make investments to the tune...
- According to media reports the PIF is holding discussions with Nesma Holding, El Seif Group, Almabani General Contractors, and Albawani to buy minority stakes in them
- Looking to take stakes of about 30 percent in each company, the PIF has roped in Rothschild and GIB Capital as advisers to finalize the deals
Business
Dubai school ‘first’ in Middle East to accept tuition fee in Bitcoin, Ethereum
A school in Dubai has said it will be the first school in the Middle East to let parents pay...
- Citizens School, which is set to open doors in September 2022, said it will accept payments from Bitcoin and Ethereum in addition to traditional modes of payment.
- Payments using cryptocurrencies are accepted through a tie up with a digital currency platform that processes cryptocurrency payments and automatically converts them to Dirhams.
Business
Flynas to take off for Belgrade
The airline will fly three weekly flights to Serbia's capital.
- The flights to the capital of Serbia will run each Monday, Wednesday and Friday, on a seasonal basis, effective from May till late September
- Flynas intends to order 250 aircraft
Business
Day 1 of Global Entrepreneurship Congress: Pacts worth $4.2 bn signed
A total of 33 agreements besides several investments worth more than $4.2 billion were signed on the first day of...
- These are aimed at supporting entrepreneurship in various fields and enhancing the Kingdom’s status as an attractive environment for pioneers, innovators and creators.
- Saudi Aramco signed 10 memoranda of cooperation and two agreements with local and international firms in digital transformation, information technology, and national development.
Business
Mawani, LogiPoint launch new logistics development at Jeddah Port
This will enhance the port's infrastructure and operating capabilities, expand capacity, and enable logistical efficiency.
- This will enhance the port's infrastructure and operating capabilities, expand capacity, and enable logistical efficiency
- The project represents the first phase in LogiPoint's ongoing infrastructure development plan worth SAR400 million over the next two years
Business
Sharjah Chamber, Guatemala ink MoU to fortify economic cooperation
The MoU aims to strengthen trade relations and develop mutual cooperation, encourage and facilitate economic cooperation between business communities in...
- The MoU aims to strengthen trade relations and develop mutual cooperation, encourage and facilitate economic cooperation between business communities in both countries
- The two sides shall encourage the exchange of trade delegations and discussions in the fields of export and economy and support follow-up visits in this regard
Economy
Qatar, France look to enhance cooperation in labor
The deal was signed on Sunday, March 27, in cooperation with the International Labor Organization.
- The memorandum comes within the framework of the cooperation strategy implemented by Qatar with various governments and global organizations
- It reportedly aims to enhance cooperation between the Ministry of Labor and the French government in cooperation with the ILO in the fields of labor
Business
Poultry available in quantity during Ramadan, assures Jordan minister
The announcement came after the minister met members of the Jordanian Poultry Producers Association on Sunday.
- Jordan’s Minister of Agriculture Khaled Hneifat has said his ministry is keen on providing poultry to meet citizens' needs throughout the holy month
- For their part, the Jordanian Poultry Producers Association’s representatives said they would continue to cooperate with the ministry to provide poultry
Business
Social Development Bank extends $2.93bn support to Saudi entrepreneurs
The bank announced this while participating in the Global Entrepreneurship Congress (GEC) in Riyadh.
- The pledge is said to be part of the bank’s efforts to empower Saudi youth and promote comprehensive national development
- The SDB is also said to have signed, on the sidelines of the GEC, several agreements with various strategic bodies
Jordan announces Ramadan working hours for public sector
In a circular, Prime Minister Bisher Khasawneh called for observing the sanctity of the holy month.
- In a circular, Prime Minister Bisher Khasawneh called for observing the sanctity of the holy month
- In a circular, Prime Minister Bisher Khasawneh called for observing the sanctity of the holy month.
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Gunmen kill 9 in two separate shootings in protest-hit Iran cities
Tehran, Iran— Assailants on motorbikes shot dead nine people, including a woman and two children, during protests in two separate attacks...
Geostrategy
HSBC Oman, Sohar International Bank decide to merge
The banks said in two separate regulatory announcements that all assets and liabilities of HSBC Oman will be transferred to...
Business
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Economy
Israel’s Q3 growth slows due to weaker consumer spending
The gross domestic product increased 2.1 percent annually between July and September compared to the previous three months.
- The gross domestic product increased 2.1 percent annually between July and September compared to the previous three months
- The annual inflation rose to 5.1 percent in October from 4.6 percent in September, well above an official 1-3 percent target, the statistics bureau said on Tuesday
Business
Masdar-led consortium to develop 4 GW green hydrogen projects in Egypt
Egypt enjoys abundant solar and wind resources that can allow for the generation of renewable power at a competitive cost.
- Egypt enjoys abundant solar and wind resources that can allow for the generation of renewable power at a competitive cost
- Egyptian authorities are reportedly working to revise the country’s renewable energy strategy to include green hydrogen
Business
QatarEnergy, Chevron Phillips to build US$8.5bn Texas plastic plant
Doha, Qatar— QatarEnergy and Chevron Phillips Chemical (CPChem) have announced they have reached a final investment decision to build an...
- The plant will include an ethylene cracker unit with a capacity of 2.08 million tons per annum, making it the largest in the world
- It will be owned by Golden Triangle Polymers Company LLC, a joint venture in which QatarEnergy holds a 49 percent equity interest with 51 percent held by CPChem