Dubai sees weeklong real-estate transactions worth $1.91bn

Bahrain signs pact with Cisco

• The agreement was signed on the sidelines of the visit of Crown Prince Salman bin Hamad Al Khalifa to the United States
• The CEO of the Bahrain Information and eGovernment Authority, Mohammed Ali Al Qaed, said that the pact reflects the Kingdom’s commitment to adopt latest technological trends

Dubai Gold & Commodities Exchange Feb trades total $13.68 bn

• The exchange registered a monthly Average Open Interest (AOI) of 125,206 contracts during February and saw its precious metals' portfolio lead trading activity.
• DGCX's West Texas Intermediary (WTI) Futures gained traction following increased volatility in oil markets.

Dubai International Boat Show to feature 800 brands from 54 countries

• This is MENA yachting industry's first international in-person event since the COVID-19 pandemic. It will run at Dubai Harbour.
• The region home to 12.6 percent of global superyachts, the world's second-highest fleet-to-billionaire ratio.

Telecom Egypt reports $535m profit

• The rise in profit came in line with a 16 percent surge in revenues year-on-year, reaching 37 billion Egyptian pounds
• The Egypt-based company also contributes to national digitization projects

Saudi exports to touch $354bn by 2030: Standard Chartered

• According to a report prepared by Standard Chartered, 18 percent of global corporations already manufacture or source in Saudi Arabia
• The Future of Trade 2030 report named India as the fastest-growing export corridor for Saudi Arabia with an average annual growth rate of 10.9 percent from 2020 to 2030

Al Arabia posts $55m profit

• Profits of the Riyadh-based firm, partly owned by media giant MBC group, soared as the advertising industry rebounded from pandemic-hit 2020
• The economic recovery, along with a continued digitization push in the Kingdom, led to a 45 percent increase in revenues year-on-year to SR720 million

Money-laundering, terror financing penalties fetch UAE $1bn

• UAE is currently amending the anti-money laundering law’s executive regulation.
• The Office for Anti-Money Laundering and Counter-Terrorist Financing was established in Feb 2021.

AMEA Power awarded $100m

• In December 2019, a consortium formed by AMEA Power and TBEA Xinjiang New Energy was awarded the 100MW solar power plant located in Kairouan in Tunisia.
• The solar power plant construction is expected to begin by the end of this year.

SEWA links up Al-Arqoub with its power grid

• Work is ongoing to strengthen the network and light the leading and internal roads to the area with approximately 700 lighting poles
• Dr. Hassan Al Zarooni, Director of the Electricity Services Department, lauded the Authority's strategy in providing services to all regions