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
Awaed Alosool launches Sharia compliant investment platform
RIYADH, SAUDI ARABIA - Awaed Alosool Capital announces the launch of the Awaed platform, revolutionizing investment opportunities in public listed companies....
Business
Arts & Culture
On International Day of Happiness, UAE aims for best quality of life
The UAE is celebrating the International Day of Happiness, observed on March 20, with achievements and gains that enhance the...
- The minister was speaking on International Day of Happiness, which is to be held on March 20
- He said the UAE aspires to maintain its leading position among the happiest countries in the world
Economy
Saudi crude oil exports rose 59,000 barrels a day in January
The crude oil exports of Saudi Arabia rose by 59,000 barrels per day to 6.996 million bpd in January, according...
- The new data indicated that in January the kingdom’s exports of crude oil rose by 0.9 percent from 6.937 million bpd in December
- January also marked a substantial increase in the direct use of crude oil — such as oil burning for electricity generation
Science
One in five Saudi citizens have a food allergy
The SFDA said that food allergy can be best treated by avoiding the ingredients that cause it.
- The SFDA said that food allergy can be best treated by avoiding the ingredients that cause it
- Food allergy is defined as a reaction of the immune system to a certain type of food
Business
Saudi Arabia inks MoU with Amazon to promote digital services, e-commerce
The Saudi Arabia’s Ministry of Investment (MISA) announced on Friday that it has signed a Memorandum of Understanding (MoU) with...
- Saudi Arabia and Amazon will form a joint committee consisting of members from each party that will meet twice a month to explore reforms across a range of areas
- The committee will also work with relevant public sector entities to deliver support and incentive programs to accelerate the growth of digital services and e-commerce
Economy
Russian wheat flour supply to Palestine to resume
The Palestinian Authority is already engaged in ongoing national efforts to diversify international markets that supply Palestine with basic commodities.
- About 15,000 tons of Russian wheat flour are scheduled to arrive in Palestine by the end of this month
- This comes despite the current Russian-Ukrainian crisis and its effects on global supply chains, especially food
Economy
Bahrain top Arab country in the World Happiness Report 2022
The annual report is published by the United Nation’s Sustainable Development Solutions Network.
- The report ranks Bahrain in the 21st position out of 146 countries
- This is an improvement by one position from last year’s report
Economy
Italy to tax energy profits to ease price burden
The amount generated is expected to help families and businesses struggling with high bills.
- The money will help fund a new €4.4-billion package to ease the pain of high energy prices
- This apparently comes on top of the €16 billion Italy has already spent in recent months
Expo 2020 DUBAI
Saudi Arabia wins Best Pavilion at Expo 2020 Dubai
The pavilion of Saudi Arabia in Expo 2020 Dubai has been awarded Best Pavilion by EXHIBITOR magazine.
- The Saudi Pavilion has already won the Platinum Certificate in LEED by the US Green Building Council
- It also holds three world records: the largest interactive light floor, the longest interactive water curtain, and the largest interactive digital screen mirror
Business
Julphar revenue up 100 percent
The growth attributed to increased market share in key operating regions.
- In 2021, Julphar reported EBITDA from Continuing Operations at AED164.8 million.
- The Company’s profit after tax for full year 2021 reached AED59.4 million.
Business
Ithmaar Holding of Bahrain to sell ‘assets’ to Al Salam Bank
Shareholders of Ithmaar Holding have approved a plan to sell a few of the company's assets to Al Salam Bank.
- The assets include Ithmaar Holdings’ ownership stake in both Bank of Bahrain and Kuwait and Solidarity Group Holding, as well as the consumer banking business of Ithmaar Bank
- The holding company will retain a diversified portfolio of international and local financial and other assets, including banking businesses in Bahrain and Pakistan
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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
Company News
Latest News
UAE President meets Saudi Crown Prince on sidelines of G20 Summit
The two leaders discussed mutual ties, including the agenda of the summit.
Geostrategy
ADGM Courts launches blockchain technology in Abu Dhabi
Abu Dhabi, UAE— Abu Dhabi Global Market (ADGM) Courts has announced the first-ever introduction of blockchain technology for the global...
Business
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
Most Read
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...
- The partnership will support Liquidity Group’s establishment of an R&D centre in Abu Dhabi to develop its proprietary technology-enabled underwriting algorithm.
- The firm’s patented machine learning and decision science technology has enabled the firm to deploy more capital through more deals faster than any firm in capital markets history
Business
Amanat 9M growth at 6%
Firm's adjusted net profit grew to $16.5 million in Jan-Sep 2022.
- Adjusted total income grew 17 percent to $28.9 million in 9M-2022.
- Adjusted EBITDA grew 19 percent to $29.8 million (AED110.1 million) in 9M-2022.
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.