CBUAE, Islamic finance organizations discuss sustainable practices
ABU DHABI, UAE - The Central Bank of the United Arab Emirates (CBUAE) hosted several events with Islamic finance infrastructure...
Business
Monsha’at reports Q3 rise in SMEs driven by growth across non-oil sectors
RIYADH, SAUDI ARABIA - The General Authority for Small and Medium Enterprises (Monsha'at) has released its latest quarterly SME Monitor,...
Economy
Business
Tajikistan to team up with Iran to build renewable energy sources
Tajikistan’s minister of energy and water resources said that his country is engaged in a program that includes construction of...
- Tajikistan Minister Juma Daler Shofakir held a meeting with the Iranian Energy Minister Ali-Akbar
- The minister said that the Raqoon PowerHouse can generate 3,700 megawatts of hydropower
Economy
Moody’s says Ukraine war endangers global economic recovery
The Russia-Ukraine conflict and subsequent sanctions have increased risks to the global economic outlook, with effects that will depend on the...
- Europe's recovery would be at risk if the military conflict escalates, according to VP-Senior Credit Officer at Moody's, Kelvin Dalrymple
- Rising prices for commodities from the region, such as oil, grains and metals, are increasing inflationary pressures, Moody's said
Geostrategy
GCC to boost international cultural ties for strategic partnerships
The Gulf Cooperation Council (GCC) seeks to boost its participation in international cultural arenas and events to activate strategic partnerships...
- Secretary-General of the GCC, Nayef Al-Hajraf, said this on Friday at second International Forum for Just Peace Culture
- He added that the peace culture is a concept that contains a system of positive values to be translated into actions
Business
Malaa Technologies to set up a bank in KSA
Malaa Technologies will launch its banking operations in Saudi Arabia after it obtained an approval from the kingdom’s central bank.
- Malaa has concluded its integration efforts with the Arab National Bank’s systems to become the first lender whose customers can link their accounts directly through open banking
- It seeks to contribute to the National Savings Strategy and plans to work with the financial sector development program partners to achieve these goals
Science
SABIC chairman urges chemical companies to ‘decarbonize’
The head of Saudi Basic Industries Corporation (SABIC) has urged ‘chemical companies’ to decarbonize promptly in order to improve what...
- Yousef A. Al-Benyan, chairman of SABIC, was speaking at the Gulf Petrochemicals and Chemicals Association Leaders’ forum in Dubai
- Al-Benyan identified three priority transformation areas for the chemical industry: partnerships and collaborations; agility; and new business and operating models
Business
Saudi Arabia and Jordan to boost trade ties to more than $1bn
The Makkah Chamber of Commerce and Industry and Jordan have signed an agreement to boost economic ties between the two...
- The deal holds considerable significance as trade exchange between Saudi Arabia and Jordan was still “below expectation” despite common interests
- Saudi Arabia is the second-largest commercial partner for Jordan
Economy
Food Price Index hit record high in February: UN agency
The Food Price Index, which tracks the international prices of a items such as vegetable oils and dairy products went up nearly...
- The Food Price Index, which tracks the international prices of a items such as vegetable oils and dairy products went up nearly four percent up from January
- As the Food Price Index measures average prices over the month, the February reading only partly incorporates market effects stemming from the conflict in Ukraine
Economy
UAE adopts Ramadan working hours for federal authorities
The UAE Government on Friday announced the official working hours during the holy month of Ramadan for ministries and federal...
- The decision also allows federal authorities to implement flexible working and remote work systems on Fridays during the month
- The rules for working from home stipulate that both employees and their work should meet related requirements
Science
Bahrain signs Artemis Accords to bolster space cooperation
Among other things, NASA plans to use the Artemis missions to land the first woman and first person of color...
- Joining the accords will give Bahrain new opportunities for cooperation and investment in the space field
- It is also expected to facilitate the exchange of expertise among its signatories of the Artemis Accords
Business
Iraq’s February oil exports highest in last two years
The rate of Iraq's exports during February amounted to 3.314 million barrels per day.
- The rate of Iraq's exports during the month amounted to 3.314 million barrels per day
- The revenues for March will be higher than the last month, based on the current market data
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CBUAE, Islamic finance organizations discuss sustainable practices
ABU DHABI, UAE - The Central Bank of the United Arab Emirates (CBUAE) hosted several events with Islamic finance infrastructure...
Business
Company News
Latest News
Tel Aviv-Doha World Cup flights draws criticism from Qatari activists
While Qatar's Gulf neighbours Bahrain and the United Arab Emirates established relations with Israel through agreements mediated by the United...
Geostrategy
Companies have 50 days to achieve Emiratisation targets: Ministry
Dubai, UAE--- UAE's Ministry of Human Resources and Emiratisation (MoHRE) has said it was keen to support and empower private...
Economy
Most Read
Business
ADNOC Distribution 9M net profit up 39%
The company paid a dividend of AED1.285 bn in Oct.
- The company’s dividend policy for the years thereafter sets a dividend equal to at least 75 percent of distributable profits.
- The company’s non-fuel business for the first nine months of 2022 rose by 18 percent, while non-fuel gross profit also increased by 9 percent.
Business
Saudi Broadcasting Authority signs agreements with global media firms
Riyadh, Saudi Arabia--- The Saudi Broadcasting Authority (SBA) and three international companies with expertise in the technological and media sectors...
- The agreements were signed at the Future of Media Exhibition (FOMEX), which was hosted in Riyadh alongside the 22nd Arab Radio and TV Festival.
- The Arab Radio and TV Festival was for the first time held outside Tunisia since its inception in 1981.
Economy
Saudi Aramco, Energy ministry ink pact to build a carbon capture and storage hub
Saudi Arabia is embarking on initiatives such as the Saudi Green Initiative and the Middle East Green Initiative to meet...
- Saudi Arabia is embarking on initiatives such as the Saudi Green Initiative and the Middle East Green Initiative to meet its climate change commitments
- The first package of ongoing activities as part of Saudi Green Initiative, includes investments in the green economy worth more than $186 billion