Tabreed gets US$163m Green Revolving Credit Facility
ABU DHABI, UAE - Tabreed on Thursday announced the successful closure of its inaugural US$163 million (AED600 million) Green Revolving...
Business
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
Economy
KSA launches global campaign for its bid to host Expo 2030 Riyadh
Five countries, including Saudi Arabia, South Korea, Italy, Ukraine and Russia are in the reckoning for the 2030 World Expo.
- Five countries, including Saudi Arabia, South Korea, Italy, Ukraine and Russia are in the reckoning for the 2030 World Expo
- The letter announcing Riyadh’s intention to bid was submitted on October 29, 2021 on behalf of the crown prince Prince Mohammed bin Salman
Economy
UAE fast-tracking low-carbon economic growth: Dr Al Jaber
Speaking at the MENA Climate Week Dr. Al Jaber explained that the UAE is adopting a comprehensive, balanced and proactive...
- Speaking at the MENA Climate Week Dr. Al Jaber explained that the UAE is adopting a comprehensive, balanced and proactive approach to climate action
- He urged the international community to do more and fulfil the $100 billion climate pledge made to developing nations over a decade ago
Business
Sharjah Municipality permits food display in restaurants during Ramadan
The authorities will issue the necessary permits for this purpose, in accordance with hygiene conditions and preventive measures.
- The municipality confirmed has prepared all its relevant departments and teams to follow up on food preparation and serving facilities
- It has also allocated inspection teams to follow up whether the facilities were complying with the health and hygiene regulations
Economy
Gulf region will boost global clean energy security: Al Kaabi
Mubadala’s UAE Investment chief Musabbeh Al Kaabi said on Monday that the Gulf region will play an increasingly important role...
- Al Kaabi affirmed that governments must develop initiatives to mitigate supply chain challenges to meet net-zero carbon targets
- He noted that global energy security will extend beyond oil as the UAE and its neighbours’ transition to become leaders in clean energy production
Geostrategy
World Meteorology Organization hails Saudi center for saving lives
WMO noted that extreme weather, water and climate phenomena have become more frequent and more severe in many parts of...
- WMO also highlighted the Middle East Green Initiative launched by the Crown Prince.
- The Kingdom’s celebration of World Meteorological Day was held under the slogan “Early Warning and Early Action” on Sunday in Jeddah.
Business
Oman, Sri Lanka to cooperate in economy, trade and investment
Oman and Sri Lanka have discussed economic and trade cooperation. In this connection, Saleh Said Masan, Undersecretary for Commerce and...
- The two sides explored aspects of the joint cooperation, economic diversification sectors and the investment and trade environment.
- They discussed aspects of cooperation in the economy and industry sectors, logistics, ports and investment opportunities in both countries.
Infographics
UAE tops gender equality in Arab countries
In the UAE, and the wider Arab world, many women have been successful in upturning the prevalent prejudice that a...
- Their participation in the workforce has grown; in many Arab countries, women entrepreneurs are competing with men to distinguish their businesses
- Many young women have important roles in government offices where they are a key part of policymaking
Business
Kuwait issues bonds, tawarruq to the tune of $792m
The Central Bank of Kuwait has issued bonds and tawarruq for six months with an accumulated value of $792 million.
- According to a statement released by the bank, the rate of return is set at 1.625 percent
- The bank also issued bonds and tawarruq as of March 21 valued at 220 million Kuwait dinars ($660 million) for three months standing at a rate of returns of 1.375 percent
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.
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
Tabreed gets US$163m Green Revolving Credit Facility
ABU DHABI, UAE - Tabreed on Thursday announced the successful closure of its inaugural US$163 million (AED600 million) Green Revolving...
Business
Company News
SABB posts 26% profit rise
Business
Latest News
DEWA shares drop 2.8%
Business
Qatar eyes investments ahead of FIFA World Cup
"We seek to boost long-term partnerships between local and foreign investors to enhance added values and the knowledge transfer, to...
Business
Indonesian Govt, 3 organizations to protect marine environment
ABU DHABI, UAE - The Indonesian Government, G42, a UAE-based AI and cloud computing company, a global nonprofit OceanX and...
Science
Americana IPO: UAE retail offer doubled
Saudi retail tranche remains unchanged at 10 percent.
Business
Most Read
Geostrategy
ADFD takes part in foreign investors meet in Uzbekistan
ABU DHABI, UAE - Abu Dhabi Fund for Development (ADFD) participated in the first plenary session of the Council of...
- The discussions focused on fostering economic development in Uzbekistan by facilitating investment in various fields.
- Many development institutions and international financial organizations participated in the conference.
Business
EGA, ITOCHU sign agreement
They would set up UAE's largest aluminum recycling facility.
- EGA's relationship with ITOCHU stretches back to the 1980s, with the Japanese company marketing the UAE company's metal in Japan.
- The two companies will work in the development of new aluminum alloys with third parties for niche applications.
Business
Private school operator Taaleem’s IPO oversubscribed 18 times
Dubai, UAE---United Arab Emirates private school operator Taaleem Friday said it has set the price of its Initial Public Offering...
- Taaleem Friday said it has set the price of its Initial Public Offering (IPO) at AED3 per share ($0.8168).
- Raising AED750 million, the IPO drew total gross demand of more than AED13.7 billion.