Climate chaos impact on millions frames discussions at COP28
With the countless repercussions of extreme weather conditions, the planet is witnessing increasing political unrest, deaths and diseases.
COP28 UAE
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
Business
Service fees of real estate owners, investors reduced in UAE
The UAE's Department of Municipalities and Transport (DMT) said that service fees for real estate units’ owners and investors in...
- In 2020, the service charges were reduced by 18.1 percent, with another 8.3 percent reduction introduced in 2021.
- DMT introduced a comprehensive mechanism to monitor and regulate residential units' service charges in 2020.
Business
Dubai International Financial Center launches AI, UAE’s first coding license
Companies holding the license will be able to work within a stimulating environment at the DIFC Innovation Hub.
- The license is expected to advance the country's Artificial Intelligence Strategy 2031.
- The license provides an opportunity to obtain the UAE Golden Visas for employees.
Arts & Culture
64-feet Saudi stamp sets Guinness World Record
The Disney stamp, which commemorated Donald Duck’s 85th anniversary, measured a little over 44 square feet.
- The design includes a winter wonderland scene, the Riyadh Season logo, a hot air balloon, a fountain, a racing car and fireworks.
- The special stamp celebrates Riyadh Season, which was introduced in 2019 and has become one of the biggest events in the kingdom.
Business
Emirates Steel and Mauritania’s sign MoU
The two companies will form a joint venture company.
- The two companies will study joint plans to produce iron oxide pellets, the primary feedstock required for Direct Reduction steel plants.
- At 1.5 billion tons, Mauritania has the largest iron reserves in the Arab world and Africa.
Business
UAE, Saudi auditors’ association sign agreement to work jointly
The Internal Auditors Associations of the UAE and Saudi Arabia have signed a cooperation agreement to work the internal auditing...
- The agreement aims to develop a framework for corporate governance to enhance investor confidence.
- The agreement defined the frameworks for joint cooperation between them in several areas, most notably the participation in organizing of internal audit conferences.
Geostrategy
Cyprus president arrives in Riyadh to discuss bilateral cooperation
Nicos Anastasiades was received by Prince Mohammad bin Abdul Rahman bin Abdulaziz, Deputy Governor of the Riyadh Region.
- Nicos Anastasiades was received by Prince Mohammad bin Abdul Rahman bin Abdulaziz, Deputy Governor of the Riyadh Region
- The two countries will discuss bilateral cooperation and the regional situation
Business
Saudi Arabia regulates reporting of capital market violations
This regulation reportedly aims to improve the manner of the reporting of violations of the Capital Market Law and its...
- The Board of Directors of Saudi Arabia’s Capital Market Authority gave its approval to this regulation
- The move is said to be part of the authority’s efforts to better control and develop the local capital market
Geostrategy
GCC wants to expand strategic partnership with India
The remarks were made during the GCC Secretary General Al-Hajraf’s meeting with the Indian Ambassador to the Kingdom of Saudi...
- The remarks were made during GCC Secretary General Al-Hajraf’s meeting with the Indian Ambassador to the Kingdom of Saudi Arabia Dr. Ausaf Sayeed
- Al-Hajraf praised the level of bilateral relations between the GCC and India in light of the framework agreement for economic cooperation signed between the two sides in 2004
Infographics
PCR testing is a business success in the region
A large number of kits of the PCR test has been manufactured and used across the world in general and...
- The WHO has said the PCR test is one of the most efficient to detect a Covid-19 infection, but also costlier than other methods
- The organization describes has said the test needs to be run at a molecular laboratory, which contributes to the higher cost
Geostrategy
Jordan king meets with US CENTCOM commander
The meeting, attended by Crown Prince Al Hussein bin Abdullah II, discussed enhancing the strategic partnership between Jordan and the...
- The meeting, attended by Crown Prince Al Hussein bin Abdullah II, discussed enhancing the strategic partnership between Jordan and the United States
- Discussions also addressed regional and international efforts to fight terrorism, within a holistic approach
Climate chaos impact on millions frames discussions at COP28
With the countless repercussions of extreme weather conditions, the planet is witnessing increasing political unrest, deaths and diseases.
COP28 UAE
Company News
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Business
ADX adds 5 single stock futures
Market Report
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Infra investment key to climate change adaptation
“We need to build a coherent framework of trade and investment policies supported by roadmaps that can accelerate the energy...
Economy
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...
Geostrategy
SALIC buys 9.2 percent stake in LT Foods
The deal follows the acquisition of 30% stake in Daawat
Business
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Economy
Saudi Ports register 15% growth in October container activity
Container throughput the Kingdom's ports continued its upward year-on-year movement during October 2022, soaring to 694,517 twenty-foot equivalent unit at...
- Growth remained the dominant trend across most cargo categories.
- Optimizing operational efficiency and attracting big-ticket investments have remained a major focus for the Saudi Ports Authority.
Business
Air Arabia Q3 net profit $113m
The profit rose by 99 percent compared to Q3 2021.
- In the same period, the airline posted a turnover of AED1.6 billion, a 100 percent increase compared to the same quarter of last year.
- The Airline said that more than 3.9 million passengers flew with Air Arabia Group between July and September 2022 across the carrier’s six hubs.
Business
Private school operator Taaleem offers 25 percent stake in IPO
Taleem set the price range at AED2.95 ($0.80) and AED3 per share, implying a market capitalization at time of listing...
- Â The final offer price is expected to be announced on 18 Nov. 2022. Listing of the shares and trading on DFM is expected to begin 29 Nov. 2022.
- The company is seeking to raise total capital of $204 million from the IPO, whose net proceeds will be used to expand its premium K-12 segment, Taaleem said in a statement.