Russia, Saudi say sovereign Palestine state vital for regional peace
RIYADH, SAUDI ARABIA – Russia and Saudi Arabia expressed concern on the present situation in Gaza and said that a...
Geostrategy
Joint ministerial committee meets US secretary of state
Washington, US – A committee of the Joint Arab-Islamic Extraordinary Summit under the chairmanship of Prince Faisal bin Farhan bin...
Geostrategy
Economy
Dubai ruler issues law on Local Military Pensions and Social Security Fund
Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum on Wednesday issued a law on Local Military Pensions and Social Security...
- The fund seeks to improve the quality of services offered to its beneficiaries and ensure that all the rights and insurance needs of contributors, pensioners are met.
- All liabilities and assets of the Local Military Pensions and Social Security Division at the DoF will be transferred to the Fund, once the Law comes into effect.
Business
Hub71 startups secure $408m in investments since inception in 2019
Hub71, Abu Dhabi’s global tech ecosystem, said on Wednesday that its startup community secured AED 30 million ($8.1m) in 2021...
- Hub71 boasts startups from 25 nations across 18 diverse sectors, ranging from FinTech, Robotics, AI & Big Data to HealthTech, AgTech and Cybersecurity.
- About 1,000 jobs were created, while the aggregate valuation of the startups soared to AED5.87 billion, the hub said in a report.
Business
Dubai posts real estate transactions worth $413 million on Tuesday
Dubai’s real estate market recorded 474 sales transactions worth AED1.52 billion ($413 million) and mortgage deals of AED441.56 million, in...
- Mortgage deals amounted to AED441.56 million and 11 gift transactions to AED27.4 million, according to Dubai Land Department.
- During the week ending 18 March, the emirate recorded $2.53 billion worth of real estate and properties transactions.
Business
Saudi land bridge linking up east with west to cost $26bn
A land bridge linking up the western part of Saudi Arabia with its eastern region will cost some $26 billion...
- According to the minister of transport and logistics, Saleh Al-Jasser, the money will go into building infrastructure and trains
- The contracts will be signed within a year, and the implementation of the project will take 5 to 7 years, Al-Jasser said
Business
Shuaa Capital of Dubai sets up $250m venture debt fund
Shuaa Capital, the Dubai-based fund manager, has set up a $250 million venture debt fund in order to shore up...
- According to the company, the Shariah fund, to be listed in Abu Dhabi’s market, will focus on technology ventures “seeking alternative sources of capital”
- Early-stage businesses are dominating investments with VC funding to the Middle East and North Africa startups soaring to $2.6 billion in 2021
Business
UAE accounts for 77% of GCC investments in Latin America over 2016-2021
Saudi Arabia accounted for 22 percent of GCC investments to Latin America during 2016-2021, followed by Qatar with 1 percent.
- Saudi Arabia accounted for 22 percent of GCC investments to Latin America during 2016-2021, followed by Qatar with 1 percent
- The report, titled Cultivating Ties: Deepening trade and investment between Latin America and the GCC, was issued ahead of the Global Business Forum Latin America 2022
Business
Pandemic aided digital adoption by UAE businesses: PayPal survey
Survey analyses the impact of COVID-19 on small businesses, the key verticals of growth and the growing acceptance of digital...
- Survey analyses the impact of COVID-19 on small businesses, the key verticals of growth and the growing acceptance of digital payments
- With adoption of digitalization, 41 percent of the respondents have seen increased purchases through social media channels
Geostrategy
Leonardo to enhance naval surveillance of Qatar
The announcement was made at DIMDEX, the flagship regional event for the international maritime defence and security, going on in...
- The announcement was made at DIMDEX, the flagship regional event for the international maritime defence and security, going on in Doha until March 23
- Leonardo, a high-tech global company, is one of the top companies in the world in the sector of Aerospace
Geostrategy
Qatar to disburse cash assistance to families in Gaza Strip
Chairman of Qatar's Gaza Reconstruction Committee Ambassador Mohammed Al Emadi announced cash assistance to needy families in the Gaza Strip....
- Qatar Fund for Development will also cooperate with Qatar's Gaza Reconstruction Committee in the process.
- The distribution process will take place through the United Nations distribution centers located in Gaza.
alfanar invests $1.3bn in UK
The money will go in producing aviation fuel from waste.
- The Lighthouse Green Fuel project generates more than 180 million liters of sustainable aviation fuel annually in the UK
- This amount of sustainable aviation fuel is sufficient to power 15,000 flights per year, reducing harmful carbon emissions from conventional fuels by over 700,000 tons annually
Most Read
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
Russia, Saudi say sovereign Palestine state vital for regional peace
RIYADH, SAUDI ARABIA – Russia and Saudi Arabia expressed concern on the present situation in Gaza and said that a...
Geostrategy
Company News
Latest News
Al Seer signs JV
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
Most Read
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.