UAE voted to Category-B membership in International Maritime Organization
LONDON, UK - The UAE has been re-elected to the Council of the International Maritime Organization (IMO) in the Category...
Geostrategy
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Where does fisheries stand in UAE economy?
The fisheries sector in the UAE has changed quite a bit over the past two decades, with a pointed move...
- The UAE has been striving to achieve food security through several of its initiatives
- It has also been looking to achieve a degree of sustainability in the fisheries sector
Business
AD Ports, Kuwait GAC sign MoU
The port operator will develop a virtual trade corridor between the two countries.
- AD Ports Group’s digital arm, Maqta Gateway, will develop the new virtual trade corridor based upon its Advanced Trade & Logistics Platform.
- The MoU will also provide for accelerated procedures for expediting shipments of perishable goods, reducing dwell time at borders.
Digital Dubai and Dubai Police to collaborate on cybersecurity
Digital Dubai and Dubai Police will strengthen their partnership and collaborate towards achieving strategic goals in cybersecurity.
- The two parties have signed a Memorandum of Understanding (MoU) regarding the same
- The MoU adds to the existing partnership between government entities entrusted with cybersecurity issues
Geostrategy
UAE finance ministry to organize dialogue sessions WGS 2022
UAE’s Ministry of Finance will organize a series of specialized dialogue sessions on the sidelines of the World Government Summit...
- This year’s summit themed ‘Shaping the Future of Governments’ will be held on March 29 and 30, coinciding with the closing of Expo 2020 Dubai.
- The summit will also launch 20 in-depth knowledge reports that outline key topics on global governments’ agendas in cooperation with prominent global research institutions.
Geostrategy
Earth Hour: ENOC group stresses on lesser energy consumption
All service station forecourts including Service Station of the Future at Expo 2020 Dubai remained dark for an hour.
- The ENOC group switched off non-essential lights at its headquarters on 26th March from 8:30 to 9:30.
- ENOC saved a total of 11.9 GWh (or 11,963 MWh) of electricity in 2021, which is equivalent to 6,221 tCO2
Economy
UAE to invest $2bn in Egypt in order to bolster its economy
The UAE is going to invest some $2 billion in Egypt by buying up the state-owned companies in order to...
- The world’s largest wheat importer has been hit hard by record grain prices that were fueled by the Russia-Ukraine war
- The decision came during a rare meeting between leaders of Egypt, the UAE and Israel to discuss energy and food security
Geostrategy
Qatar signs Global Methane Pledge, to lower emissions by 30 percent
Rapidly reducing methane emissions is the most effective strategy to limit global warming in the near term and keep 1.5...
- A total of 111 country endorsements have now signed the Global Methane Pledge.
- The signatories represent 70 percent of the global economy and nearly half of global anthropogenic methane emissions.
Business
Saudi Arabia shows interest to develop nuclear reactors
Saudi Arabia has evinced interest to develop small modular nuclear reactors in order to generate electricity for remote areas of...
- The kingdom's Minister of Energy, Prince Abdulaziz bin Salman, said that Saudi Arabia isn’t looking for funding from any country to help it with its energy transition plan
- “The future of the world and society lies not in us waiting for someone else to build the things we should use, but for us to build them ourselves,” he added
Business
Saudi Arabia supports SMEs with $80bn cash injection
In order to protect SMEs from economic recession, Saudi Arabia provided more than $80 billion in support to the businesses,...
- Saleh Al-Rahseed, speaking at GEC 2022 in Riyadh, said the Kingdom gave confidence to entrepreneurs and innovative companies not only by giving them cash but all kind of support
- “It wasn’t just cash injection that helped Saudi SME’s during the pandemic” he said
Economy
Jordan, USAID launch project to support energy sector
The Ministry of Energy and Mineral Resources and the United States Agency for International Development (USAID) in Jordan have launched...
- The project seeks to achieve financial sustainability of Jordan's electricity sector, strengthen the sector's regulatory frameworks and improve its services in oil and gas markets.
- The project valued at $40 million will be implemented over a five-year period, citing a statement from the Energy Ministry.
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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
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QIB’s profit shoots up 13%
Business
Etihad Airways preps for tourists
It is expecting 1.5m travelers at Abu Dhabi International Airport.
Business
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.
Economy
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.
Business
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Business
Floating success: Marine industry helps Qatar cruise towards economic diversification at a greater pace
The floating hotel "MSC World Europa", which arrived at Doha Port last week, is one of three floating hotels designated...
- The marine industry is very important to tourism and the long term economic and cultural connections it brings, says Akbar Al Baker, head of Qatar Tourism and Qatar Airways Group
- Qatar has taken significant steps to consolidate its position as a world-class destination for cruise tourism and the Arabian Gulf is an important gateway for it, adds Al Baker
Economy
GCC growth may slow down in 2023 and 2024
The regional economies -- set to expand by 6.9 percent in 2022 -- may moderate to 3.7 percent and 2.4...
- The regional economies -- set to expand by 6.9 percent in 2022 -- may moderate to 3.7 percent and 2.4 percent in 2023 and 2024 respectively, says a World Bank report
- Easing of pandemic restrictions and positive developments in the hydrocarbon market drove strong recoveries in 2021 and 2022 across the GCC, the report points out
Business
ADIB, ADGM to support growth needs of Abu Dhabi financial community
Abu Dhabi, UAE -- Abu Dhabi Islamic bank (ADIB) and Abu Dhabi Global Market (ADGM) will collaborate to support the...
- ADIB will provide clients with ADGM licensed managers for Sharia compliant banking and share news on developments in finance sector.
- Also, a formal framework for cooperation in education, business development between the Bank and ADGM is also a part of the deal.