AD Ports, Kazakhstan Railways form venture to boost services
Abu Dhabi, UAE - AD Ports Group signed an agreement with Kazakhstan Temir Zholy JSC (Kazakhstan Railways to form a...
Business
58% of firms in Saudi Arabia plan to outsource cybersecurity
RIYADH, SAUDI ARABIA - Company bosses are boosting their cybersecurity following an alarming increase in cyberattacks, a new study commissioned...
Business
Economy
Central Bank of UAE approves creation of 5,000 jobs for Emirati nationals
The Central Bank of UAE has approved the creation of 5,000 new jobs by the end of 2026 for Emirati...
- The jobs have been announced as part of the Emiratization of managerial positions in the banking and insurance sectors.
- The jobs will be created in coordination with the Emirates Institute for Banking and Financial Studies and the Emirati Talent Competitiveness Council.
Business
Emirates opens office in Fujairah
The office is located in Al Ghilaila Building, overlooking the Fujairah corniche.
- Emirates has worked in partnership with dnata Representation Services as its General Sales Agent (GSA) in Fujairah for the past three decades.
- The new retail sales office four customer service counters dedicated to flight reservations, ticketing, and general customer enquiries.
Business
Demand for gas and wheat drives Suez Canal’s business up 15%
The Suez Canal has seen a fifteen percent jump in business as ships carrying wheat and gas have filled the...
- Grain exports will make their way to Northwestern Europe while iron exports will go to Canada and Northwestern Europe
- the Suez Canal will begin applying additional fees, ranging from 5 to 10 percent of the transit fees, for various categories of ships transiting the channel
Geostrategy
UAE makes $5m donation to UN’s Humanitarian Plan for Ukraine
The United Arab Emirates has offered $5 million in assistance to Ukraine to tide over problems suffered by civilians in...
- The contribution is made to the United Nations’ Humanitarian Flash Appeal and the Regional Refugee Response Plan for Ukraine
- The UAE has underscored the importance of focusing on the deteriorating humanitarian situation for civilians
Business
Yahsat revenue $123m in 2021
The company signed several contracts in Data and Mobility solutions businesses.
- Yahsat said it is well-positioned to grow in 2022, with approximately 70 percent of the Group's 2022 projected revenues contracted as of 31 December 2021.
- In 2021, Yahsat achieved an Adjusted EBITDA margin of 59 percent with Adjusted EBITDA of AED883.2 million [$240.5 million].
Business
Romania-UAE Business Forum promotes economic collaboration
Romanian business leaders were speaking at Romania-UAE Business Forum at Expo 2020 Dubai.
- Romanian business leaders were speaking at Romania-UAE Business Forum at Expo 2020 Dubai
- Private sector representatives from the UAE and Romania called for harnessing available opportunities to create joint investment ventures
Business
Master Works raises $40m
The transaction was done by Merak Capital.
- Founded in 2010, Master Works offers products and services across multiple technology fields
- They include data management, AI, data strategy, API management, software development, and RPA
Business
Saudi Central Bank licenses new payment fintech company
Named Moyasar Financial Company, the new entity is expected to provide ecommerce payment services.
- The total number of payment companies licensed by SAMA now stands at 16
- This is in addition to nine companies that were granted an in-principle approval
Economy
Jordan reduces entry fees at tourist sites for Arab visitors
The tourism ministry will treat Arab tourists as Jordanians to spur tourism.
- The tourism ministry will treat Arab tourists as Jordanians to spur tourism
- The decision would remain in force through 2022 to strengthen Jordan's position as a tourist destination
Business
Saudi Arabia unveils farm exporting high-yielding Murciano goats
Saudi Arabia's Ministry of Environment, Water and Agriculture (MEWA) has inaugurated the first Saudi farm exporting Murciano goats in Riyadh....
- The Murciano goats produces 800-1000 liters of milk every year on average.
- The goats, also known as Murcia-Granada, have a lactation period of around 210 days.
AD Ports, Kazakhstan Railways form venture to boost services
Abu Dhabi, UAE - AD Ports Group signed an agreement with Kazakhstan Temir Zholy JSC (Kazakhstan Railways to form a...
Business
Company News
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Tihama’s stock surges 10%
Business
ADX adds 5 single stock futures
Market Report
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...
Business
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...
Economy
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Geostrategy
Jordan King Abdullah meets UK king Charles III
King Abdullah said that Jordan looks to further advance relations with the UK, building on the strong ties between the...
- King Abdullah said that Jordan looks to further advance relations with the UK, building on the strong ties between the two royal families and peoples
- Discussions covered the importance of bolstering cooperation across all sectors in the mutual interest of the two countries
Business
SALIC buys 9.2 percent stake in LT Foods
The deal follows the acquisition of 30% stake in Daawat
- The deal follows the acquisition of 30% stake in Daawat, an LT Foods subsidiary
- LT Foods delivers rice and rice-based food brands in more than 60 countries
Business
ENOC, IHI sign low-carbon ammonia and hydrogen supply chain agreement
Green ammonia, which can be achieved by combining and reacting green hydrogen and nitrogen at high temperatures and pressures, can...
- The produced fuel will be exported to Japan and supplied within the UAE and across the region for bunkering and other purposes.
- It aligns with Dubai’s Clean Energy Strategy 2050 and the UAE Energy Strategy 2050 to meet the country’s economic requirements, ENOC said.