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
Mawani gets 79.01 points in UNCTAD’s Liner Shipping Connectivity Index for Q4 2023
RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) attained its highest improvement in the UNCTAD's Liner Shipping Connectivity Index...
Economy
Business
Unit 2 of Barakh Nuclear Energy Plant starts operations
The Emirates Nuclear Energy Corporation (ENEC) announced today the start of commercial operations of Unit 2 at the Barakah Nuclear...
- Unit 2 adds 1,400 megawatts of zero-carbon emission electricity to the national grid, bringing the total produced by Units 1 and 2 to 2,800 megawatt.
- This new addition takes ENEC and its subsidiaries to the halfway mark of delivering on its commitment to supply a quarter of the country's electricity needs.
Geostrategy
UN agency to spearhead early warning plan covering every person on earth
“Early warnings and action save lives,” UN Secretary-General António Guterres said in a video message during a ceremony marking the...
- The agency will lead the effort and present an action plan in November at this year’s UN climate conference (COP 27) in Egypt.
- The new plan seeks to build on existing WMO activities and partnerships, including with key agencies, countries and groups already active in the field.
Business
KSA mining sector grew 27% to $194 million in 2021
Saudi Vice Minister of Industry and Mineral Resources Eng. Khalid Saleh Al-Mudaifer estimated the total value of mineral wealth in...
- Saudi Vice Minister of Industry and Mineral Resources Eng. Khalid Saleh Al-Mudaifer estimated the total value of mineral wealth in Saudi Arabia at around $1.3 trillion
- He stressed that competition among countries is increasing to assume leading positions in the global mining markets
Geostrategy
Jordan, India discuss cooperation in fertilizer industry
The Jordanian Minister of Investment, Khairy Amr voiced Jordan's readiness to provide facilities for Indian investment in Jordan and invited...
- The Jordanian Minister of Investment, Khairy Amr voiced Jordan's readiness to provide facilities for Indian investment in Jordan and invited Indian experts to his country
- Indian minister reaffirmed the Indian government's keenness to prioritize Jordan in importing phosphates and fertilizers
Economy
Ukraine war sends Middle East food prices soaring: Guterres
The world must not forget the millions of people in need across the Middle East and North Africa, UN chief...
- The UN chief issued the warning during a meeting on the expanding cooperation between UN and the 22-member League of Arab States
- At the meeting, ambassadors of the Arab countries adopted a presidential statement praising the increasingly critical partnership
Economy
UAE Fatwa Council sets value of Zakat for Ramadan at AED25
The council has also set minimum values of iftar meals and atonement for not fasting during the previous Ramadan.
- Within this fatwa, the council set the value of iftar meal at a minimum of AED15
- This amount can be paid to the registered charities which provide iftar meals
Business
UAE, Turkey chambers of commerce review advancing cooperation
During the meeting, prospects for collaboration between private sector institutions in the countries and ways to enhance them were reviewed.
- The FCCI expressed readiness to promote the opportunities presented by Turkey among Emirati business-owners
- The two sides also mulled over the possibility of signing an MoU between ULUSKON and FCCI
Business
UAE to boost cybersecurity ecosystem in cooperation with Huawei
The parties will jointly establish a Cybersecurity Center of Excellence to deliver talent training that addresses the cybersecurity capacity-building needs.
- Both parties have agreed to work together in building visibility and promoting thought leadership in the area of cybersecurity.
- They will also cooperate in the field of cybersecurity research and development through an independent think tank that both parties will establish.
Business
DET of Dubai and du launch Digital Business Hub
The Department of Economy and Tourism (DET) in Dubai and du, from Emirates Integrated Telecommunications Company (EITC), have opened the...
- This will reportedly help to provide value-added services and facilitate doing business
- It would contribute to enhancing the competitiveness and sustainability of Dubai's business sectors
Business
ADQ and Turkey Wealth Fund set up a venture capital fund
ADQ of Abu Dhabi has partnered with Turkey Wealth Fund to launch Turkey Technology Fund that will invest in venture...
- ADQ and TWF established the fund to undertake investments in high-growth, Turkish start-ups with innovative business models
- Turkey Technology Fund – ADQ TWF will invest in companies developing emerging technologies or improving existing technologies in significant sectors such as energy and utilities
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
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Dubai Islamic Bank, Al Ramz Corporation announce strategic alliance
Dubai Islamic Bank will now provide brokerage and related services to its clients through Al Ramz Capital.
Business
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.
Economy
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...
Geostrategy
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Geostrategy
Abu Dhabi inks MoU with African Union in public health
ABU DHABI, UAE - Abu Dhabi Public Health Center (ADPHC) has signed an agreement with the Africa Centers for Disease...
- The partnership aims to bolster collaboration and information exchange between ADPHC and Africa CDC.
- The partnership’s priorities include promoting disease information and surveillance.
Business
Educational Holding net profit $20.3m
The profits grew by 1,3 percent compared to 9M period last year.
- The Group provides educational services in Kuwait in accordance with Shariah principles.
- Earlier this month, Kuwait Capital Markets Authority approved the merger between Educational Holding Company and Boubyan Petrochemical Company.
Business
Mawani felicitated at the Maritime Standard Awards 2022
RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) won an award at the ninth edition of the Maritime Standard...
- The awards is an annual industry event that felicitates top performers in the shipping, ports, and related sectors in the Middle East and the Indian subcontinent.
- The award crowns Mawani’s efforts in revolutionizing the Saudi maritime ecosystem and facilitating global trade.