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
Economy
Palestinian trade deficit rose by 1 percent in Jan 2022
Exports decreased in January 2022 by 16 percent compared to December 2021.
- Exports decreased in January 2022 by 16 percent compared to December 2021
- The imports, on the other hand, slumped in January 2022 by 3 percent compared to December 2021
Geostrategy
UAE-India CEPA to become operational in one month: Emirati officials
The UAE-India CEPA will simplify customs procedures, reduce logistics cost and open new opportunities for professional services.
- The UAE-India CEPA will simplify customs procedures, reduce logistics cost and open new opportunities for professional services
- The three-day logistics conference concluded with a valedictory session at the India Pavilion at Expo 2020 Dubai addressed by top officials from both countries
Business
ADH invests $100m in DEWA
Abu Dhabi-based Alpha Dhabi Holding is a subsidiary of the IHC.
- ADH made the investment through its subsidiary Alpha Dhabi Partners Holding LLC, as a cornerstone investor
- As part of the transaction, Alpha Dhabi Partners Holding LLC will acquire shares through DEWA’s IPO
Arts & Culture
Wadi Wurayah National Park nominated as UNESCO Heritage Site
The UAE’s first mountain nature reserve, Fujairah’s Wadi Wurayah National Park, WWNP, has been put on the UAE’s tentative list...
- Wadi Wurayah National Park is UAE's first mountain nature reserve.
- The nomination has been submitted to UNESCO’S World Heritage Centre for assessment on the basis of the Outstanding Universal Value of Wadi Wurayah’s natural heritage.
Economy
UAE and ASEAN review cooperation, discuss regional and international issues
Anwar Gargash, Diplomatic Adviser to the UAE President, discussed cooperation relations with the ambassadors of the member states of the...
- Anwar Gargash, Diplomatic Adviser to the UAE President, met the ambassadors of the member states of the ASEAN.
- The meeting was attended by the ambassadors of Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam accredited to the UAE.
Research
Tropical forests cool earth’s temperature by a degree, says research
Tropical forests cool the world by more than 1 degree Celsius, increase rainfall, and shield people and crops from deadly...
- A study shows that the climate benefits of trees go beyond sucking planet-warming carbon dioxide out of the air.
- Cutting down forests puts at risk the Paris climate accord's goal of capping the rise in global average temperatures at "well below" 2 degrees Celsius.
Economy
Oman’s GDP rises by 16 percent in 2021, crude biggest contributor
Several other activities recorded an increase, namely transport and warehousing by 19.4 percent, wholesale and retail trade by 15.5 percent,...
- Statistics indicated that this increase is attributed to the rise in the value-added of oil activities at the end of December 2021 by 38.5 percent.
- The largest share was for crude oil at the end of December 2021, which amounted to RO 8.998 billion, constituting a growth of 46.6 percent.
Economy
Saudi Arabia’s non-oil exports rise by 27 percent in Jan 2022
Saudi Arabia’s non-oil exports increased by 27.5 percent year-on-year in January 2022, rising to SAR 24.1 billion ($6.42 billion) from...
- The most important non-oil goods were 'Plastics and Rubber and Articles Thereof' (32.7 percent of non-oil merchandise exports).
- The kingdom’s overall merchandise exports increased by 49.6 percent in January 2022 compared to January 2021.
Business
Al Abjan to raise production
The firm plans to produce 30m hatching eggs by 2023 from 11m in 2021.
- The firm said after raising its production, it will meet more than 28 percent of the UAE’s requirement of 105 million eggs annually.
- Al Ajban anticipates 13 percent return on investment, in consideration of expansion plans that include a new chicken rearing farm.
Business
DEWA prices shares AED2.25-2.48 in Dubai’s biggest IPO since 2017
The IPO size implies a market capitalization at listing of between $30.63 billion and $33.76 billion, which would make DEWA,...
- The IPO subscription started on Thursday and will run until April 2 for the UAE retail investors and until April 5 for the institutional investors.
- DEWA is the majority owner of Empower, the world's largest district cooling services operator by connected capacity.
Company News
Sipchem posts jump in profit
Business
Latest News
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...
Business
UAE Minister discusses economic ties with Caribbean countries
ABU DHABI, UAE - UAE Minister of Economy Abdullah bin Touq Al Marri visited the Havana International Fair 2022 in...
Geostrategy
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Economy
Qatar issues licenses to 3500 holiday homes to house World Cup visitors
Qatar faces the challenge to accommodate 1.2 million fans expected to attend the FIFA World Cup.
- Qatar faces the challenge to accommodate 1.2 million fans expected to attend the FIFA World Cup
- More than 160 round-trip flights are scheduled daily from neighbouring Gulf countries to allow them to accommodate supporters
Geostrategy
Saudi crown prince arrives in Thailand on official visit
Prince Mohammed was received by Thai Prime Minister Prayut Chan-o-cha upon his arrival, and the prince then proceeded to review...
- Prince Mohammed was received by Thai Prime Minister Prayut Chan-o-cha upon his arrival, and the prince then proceeded to review a guard of honour.
- The Saudi and Thai national anthems were played during the crown prince's ceremonial greeting ceremony
Business
Deepening synergies to further strengthen bilateral economic and commercial ties between Sharjah, India
He was speaking at the Sharjah–India Business Roundtable -- organized by the Sharjah FDI Office (Invest in Sharjah), in collaboration...
- The roundtable sought to promote investment opportunities in competitive sectors and highlighted the range of services and facilities offered by various government organizations
- With 15,868 Indian firms operating in mainland Sharjah and 10,000 across its specialized free zones, the economic and commercial relations between the two has strengthened