Arab world to be center for global change in 2024, says Russian intelligence chief
MOSCOW, RUSSIA - The chief of Russia’s foreign intelligence service, or SVR, believes the Arab world will take center stage...
Geostrategy
QatarEnergy announces integration of all marketing and related activities
DOHA, QATAR - QatarEnergy has announced the successful integration of all marketing and marketing-related activities formerly managed by QatarEnergy LNG....
Business
Construction of 230 MW Masdar solar plant in Azerbaijan begins
Renewable energy company Masdar announced the formal start of construction for its 230-megawatt (MW) Garadagh Solar PV Plant in Azerbaijan,...
- Masdar signed agreements to develop the Garadagh project, located nine kilometers northwest of the Alat settlement, in April last year.
- The project will help generate half a billion kilowatt-hours of electricity annually, enough to meet the needs of more than 110,000 houses.
Business
Etisalat to up stake in Mobily
This comes as Etisalat aims to expand its footprint in Saudi Arabia.
- Etisalat Group currently holds a 28-percent stake in Saudi-listed Mobily and it plans to see this going up to 50 percent
- The Abu Dhabi-based firm, formally known as Emirates Telecommunication Group Co., has proposed a price of SR47 per share ($12.5)
Business
ADNIC to pay $62m in dividends
The year 2022 marks the 50th anniversary of the company.
- Sheikh Mohamed bin Saif Al-Nahyan, Chairman of ADNIC, said the distribution of 40 percent cash dividends demonstrated the company’s robust financial performance.
- Futoon Hamdan Mohammed Al Mazroui was welcomed as the first woman to join the company's Board of Directors.
Economy
Saudi economy grows 3.2% in 2021, the highest rate in 6 years
Saudi Arabia has reported a robust growth in its economy, posting a 3.2 percent increase in the gross domestic product,...
- The economy expanded in 2021 by the highest annual rate since 2015
- The economy grew thanks to the rise in non-oil sector by 6.1 percent, while oil activities showed a modest growth of 0.2 percent
Economy
UAE citizens can travel visa-free to Israel
Israel has announced that all UAE citizens can now travel visa-free to Israel. The move is part of a wider...
- Both vaccinated and unvaccinated tourists of all ages are permitted to enter Israel upon presenting a negative PCR test before departure and after arriving in Israel
- The announcement follows a recent agreement between the UAE and Israel extending visa-free entry to all UAE nationals as part of the ongoing strategic partnership between them
Economy
Jordan to provide facilities to its businessmen in China
Secretary-General of the Ministry of Investment, Zaher Qatarneh held a virtual meeting with a group of Jordanian businessmen in China.
- Secretary-General of the Ministry of Investment, Zaher Qatarneh held a virtual meeting with a group of Jordanian businessmen in China
- He added that the work is underway to develop a strategy to draw foreign investments in priority sectors, especially in industry, tourism, information technology and health sectors
Interview
Skills gap challenge for GCC digitization, says du CEO
GCC companies should work closely with digital and software companies to expedite digital transformation, says Fahad Al Hassawi, CEO of...
- du is the second largest telecom service provider in the UAE, and its 2021 revenues grew by 5.4% to $3.19 billion
- Agility will be key to the telecommunications industry and requires telecom operators to look beyond connectivity, says al Hassawi
Business
Dubai to list DEWA in the biggest IPO by April
In a first, the state-owned DEWA will be listed on the Dubai Financial Market by April as part of Dubai's...
- Dubai Electricity and Water Authority plans to float 3.25 million shares, or a 6.5-percent stake, by April in what is expected to be Dubai’s biggest ever listing
- The retail offering subscription will run from Mar. 24 until Apr. 2, while the qualified investor offering period will be from Mar. 24 to Apr. 5
Business
Emirates to launch daily flights to Israel from June 23
Emirates will offer multiple daily and weekly flights throughout Australia, India, Philippines, Thailand and South Africa, many of which are...
- Emirates will operate its three-class Boeing 777-300ER on the route, featuring eight private suites in First Class.
- The new service to Tel Aviv will also provide 20 tonnes of cargo capacity on each flight, providing channels for Israeli businesses.
Business
Foxconn and Saudi in talks to create microchips manufacturing facility
Foxconn Technology Group and Saudi Arabia are expected to jointly build a $9 billion facility that can make microchips, electric-vehicle...
- The facility expected to be constructed by both is said to worth $9 billion.
- Foxconn, which is a supplier to Apple Inc., is yet to confirm the deal.
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
Arab world to be center for global change in 2024, says Russian intelligence chief
MOSCOW, RUSSIA - The chief of Russia’s foreign intelligence service, or SVR, believes the Arab world will take center stage...
Geostrategy
Company News
Latest News
ECI reviews programs, initiatives to align them with ‘Projects of the 50’
Dubai, UAE— Etihad Credit Insurance (ECI) has reviewed its programs and initiatives in a meeting chaired by Abdulla bin Touq...
Business
Al Seer Marine orders 4 new tankers
South Korea's K Shipbuilding will deliver the tankers in 2024.
Business
AD Ports Group records 77% growth in Q3
The company's EBITDA increased 52 percent YoY to $162 million.
Business
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Arts & Culture
European Film Festival commences at Haya Cultural Center in Amman
Amman, Jordan— Intended to open up a space for intercultural cooperation, the 34th edition of the European Film Festival (EUFF)...
- Hadjitheodosiou said cultural diversity is an integral part of the values of the European Union
- She lauded Jordan's role in promoting cultural appreciation and understanding, protecting diversity and cultural heritage
Geostrategy
It’s time to create and support Climate Solidarity Pact
Proposing the creation of a Climate Solidarity Pact, bringing together developed and emerging economies to combine resources and capacities to...
- G20 can play an important role in resolving global crises, says UN Secretary-General António Guterres ahead of the event in Bali, Indonesia
- Guterres urges the bloc to support his initiatives to address climate change, sustainable development, the worldwide food and energy crises, and digital transformation
Geostrategy
UAE urges global efforts for trade at B20 Summit in Indonesia
BALI, INDONESIA - Speaking at the B20 Summit in Bali, Indonesia, Minister of State for Foreign Trade Dr. Thani bin...
- The UAE is working to help the global economy overcome current and future challenges.
- The economy of the future will be based on knowledge and innovation.