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
Debt Settlement Fund waives default loans worth over US$107m in UAE
DUBAI, UAE - The Citizens Debts Settlement Fund announced the exemption of 1,244 citizens from their debts with a total...
Geostrategy
Business
Aramco to launch new projects
Aramco will start 140 new projects in the next three years.
- Murad Al-Sayed said the registration mechanism will be presented to contractors interested in becoming a part of Aramco’s list of qualified contractors
- It has so far contributed to raising the local content in the company’s different projects from 35 to 60 percent, he added
Business
Qatar Airways rebuffs Airbus $220m compensation claim
Qatar Airways has denied that it owes Airbus $220 million in compensation for the rejected A350 aircraft. The Gulf carrier...
- It argues that Airbus has not provided clear guidelines on how it has arrived at the figure
- In response to this, Airbus has canceled orders for two A350s and a separate order of 50 smaller planes, A321s
Business
Mubadala, Aris Gold sign agreement
The pact is meant for operation of Soto Norte Gold Project in Colombia.
- Through a joint venture company, Aris Gold will acquire a 20 percent ownership interest in Sociedad Minera de Santander SAS and Sociedad Minera Calvista Colombia.
- On closing, Aris Gold and Mubadala will enter into a comprehensive agreement to govern the joint venture company.
Geostrategy
Jordan king, in phone call, discusses ties with Saudi crown prince
The project is a joint endeavor between the Saudi-based Aramco Gulf Operations Company and Kuwait Gulf Oil Company.
- The project is a joint endeavor between the Saudi-based Aramco Gulf Operations Company and Kuwait Gulf Oil Company
- The gas output will be divided evenly between the Gulf Arab neighbors, at a time where soaring consumption has led to growing demand for energy in the two countries
Geostrategy
Kuwait, KSA agree on plan to develop joint offshore gas field
The project is a joint endeavor between the Saudi-based Aramco Gulf Operations Company and Kuwait Gulf Oil Company.
- The project is a joint endeavor between the Saudi-based Aramco Gulf Operations Company and Kuwait Gulf Oil Company
- The gas output will be divided evenly between the Gulf Arab neighbors, at a time where soaring consumption has led to growing demand for energy in the two countries
Jordan ends all forms of distancing in mosques
Worshipers have been asked to wear masks when entering mosques and performing prayers.
- Worshipers have been asked to wear masks when entering mosques and performing prayers
- Earlier, the Awqaf Ministry, based on recommendations of the Governmental Epidemiology Committee, decided to enforce social distancing
Science
April 2 will be first day of Ramadan: International Astronomical Center
It will be possible to see the crescent with a telescope, but not the naked eye, from parts of the...
- Seeing the crescent on Friday, April 1, is not possible with the naked eye from anywhere in the Islamic world
- It can be viewed only through a telescope, but with great difficulty, from parts of Africa and the Americas
Business
UAE looks to accelerate trade cooperation with Turkey
The FCCI is keen to enhance cooperation with MÜSİAD and utilize the momentum provided by Expo to intensify relations between...
- The two sides reportedly discussed ways to enhance trade ties between FCCI and MÜSİAD
- They are also said to have focused their discussions on the prospects of growing cooperation
Economy
Saudi Arabia Railways opens tickets for train to strategic Al Qurayyat
Saudi Arabia Railways "SAR" has opened online booking of tickets for train services via the North Train to and from...
- The services starts on March 31, 2022, with a long-distance journey of 1,215 km by passenger train between Riyadh and Al-Qurayyat.
- Saudi Arab Railway stated that such a step comes in conjunction with the inauguration of the Al-Qurayyat passenger train station on March 30, 2022.
Business
UAE sanctions crowdfunding for public and private sectors
The Cabinet approved the UAE System for Crowdfunding Platform Operators, stressing that the Securities and Commodities Authority (SCA) will be...
- The strategy covers all technical aspects associated with the regulation of crowdfunding platform operators
- It also addresses supervision, inspections, and penalties
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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
Company News
Latest News
Saudi Arabia, UAE key partners in Indonesia’s growth
The two Gulf countries play a major role in strengthening the economic and sustainable development in Indonesia, which is hosting...
Geostrategy
Real estate transactions worth $390m recorded Tuesday in Dubai
Dubai, UAE -- Dubai real estate market recorded transactions worth AED1.8 billion ($490 million) on Tuesday, Dubai Land Department said....
Business
Liquidity Group first Israeli firm to join ADIO Innovation Programme
Abu Dhabi, UAE---Liquidity Group, a FinTech company, became the first Israeli firm to join the $545 million Abu Dhabi Investment...
Business
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Business
Wio Bank, ADGM sign pact
Pact will help SMEs in UAE gain access to key banking services.
- With this pact, Wio will extend its Wio Business platform to SMEs registered with ADGM and provide them with fast-tracked application submission.
- Presently, AGDM supports over 330 SMEs in health tech, pure tech, Edtech, legal tech, food tech, tourism tech, and insurance tech.
Business
TECOM Group to pay dividend
Firm approved interim dividend payment of US$54m.
- The approved US$54 million (AED200 million) cash distribution is in line with the Group’s previously announced dividend policy of distributing $217 million annually.
- All matters related to future dividend distribution will be subject to Board of Director’s recommendation and shareholders’ approval.
Business
TECOM approves $54.45m in dividend
The firm's policy allows AED800m dividend annually.
- The Group will distribute AED200 million for October 2022; AED200 million for April 2023 and AED400 million for October 2023.
- TECOM Group's net profit for the first nine months of 2022 increased by 51 percent year-on-year (YoY) to AED639 million.