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
BCI’s subsidiary secures US$100m loan from SIDF
RIYADH, SAUDI ARABIA - Basic Chemical Industries Co.'s (BCI) subsidiary Chemical Marketing and Distribution Co. Ltd. secured a loan from the Saudi...
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.
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
Company News
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SABB nine-month net profit $926m
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Sharjah International Travel and Tourism Forum to begin Nov 24
SHARJAH, UAE - The 9th edition of the Sharjah International Travel and Tourism Forum (SITTF) is set to kick off...
Economy
FIFA World Cup 2022: Third floating hotel arrives at Doha port
MSC Opera will join MSC World Europa and MSC Poesia which arrived at Doha Port earlier, to offer a luxurious...
Business
GCC, Bangladesh ink MoU to strengthen economic cooperation
The MoU was inked on the sidelines of the 18th edition of Manama Dialogue 2022.
Economy
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Business
ADGM partners with ADIB, RAKBANK, Wio Bank to support Abu Dhabi businesses
The announcements were made during the first edition of Abu Dhabi Finance Week (ADFW) hosted by ADGM.
- The announcements were made during the first edition of Abu Dhabi Finance Week (ADFW) hosted by ADGM
- The week-long event serves as a platform for in-depth conversations around the MENA region’s thriving financial sector
Geostrategy
GCC renews commitment to strengthen ties with EU
Manama, Bahrain—The Gulf Cooperation Council (GCC) has stressed the importance of strengthening ties between the GCC and the European Union...
- During the meeting, a number of issues of common interest were reviewed, and GCC-EU relations were reviewed
- The file of free trade negotiations between the two sides was also reviewed, and the importance of inviting technical teams to review their developments
Geostrategy
Several MoUs give a boost to Saudi-Thai relations
The two countries agree to set up Saudi-Thai Coordination Council, vow to enhance investments and cooperation in sectors such as...
- The two countries agree to set up Saudi-Thai Coordination Council, vow to enhance investments and cooperation in sectors such as energy and tourism and fight corruption
- Saudi Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz and Thai Prime Minister General Prayuth Chan-ocha also discuss ways to develop bilateral ties