Geostrategy
Jordan king is in UAE, to discuss bilateral cooperation
Crown Prince of Abu Dhabi led an entourage of high-profile officials to welcome king and queen upon their arrival at...
- Crown Prince of Abu Dhabi led an entourage of high-profile officials to welcome king and queen upon their arrival at the Presidential Flight in Abu Dhabi
- They were accorded a red carpet reception as the national anthems of the UAE and Jordan were played
Business
Dubai Maritime City launches $38 million infrastructure project
DP World’s purpose-built maritime hub, Dubai Maritime City (DMC), has launched an infrastructure project at a cost of AED140 million...
- The infrastructure project includes developing networks for deep sewage, stormwater, fire, irrigation, potable water, telecommunication, and roads.
- The new infrastructure will integrate DMC with the Mina Rashid area that includes the QE2 Hotel, P&O Marinas and Marina Cubes.
Business
Qatar rolls out new Covid policy for travelers
The Ministry stated that Qatar's Travel and Return Policy has been a key measure in the nation's COVID-19 strategy.
- The new changes are a result of a fall in Covid cases in Qatar due to successful rollout of Qatar’s National Covid-19 Vaccination Program
- Qatar citizens and residents are not required to bring PCR test before returning to Qatar, regardless of the departure country
Business
DEWA electricity and water accounts rise by above 40 percent in 5 years
Dubai Electricity and Water Authority (DEWA) announced that the number of electricity accounts reached 1.06 million by the end of...
- The number of electricity accounts reached 1,061,476 by the end of 2021 compared to 752,505 at the end of 2016.
- DEWA’s total capacity increased to 13,417MW of electricity, said Saeed Mohammed Al Tayer, MD & CEO of DEWA.
Business
Egypt sets up $50m venture capital fund for startups
The World Bank and MSMEDA is eager to review and develop the needs of startups.
- The World Bank is supporting the operation of the program, aimed at tech-based startups
- The fund was announced by Egypt's Minister of Trade and Industry, Nevine Gamea
Business
Ras Al Khaimah provided $1.9m package to local businesses during pandemic
The Ras Al Khaimah Department of Economic Development (RAK-DED) offered AED 7 million ($1.9 million) in economic stimulus package to...
- The package was provided to support the local economy and ensure business continuity during the COVID-19 pandemic.
- RAK said the package included licenses registered with RAK-DED and affected by the pandemic such as infrastructure projects and SMEs.
Business
Federation of Saudi Chambers signs deal to host UN Global Compact
The Federation of Saudi Chambers of Commerce signed an agreement to host the local network of the United Nations Global...
- This pact affirms Federation's role in realizing the importance of corporate sustainability in implementing the programs and initiatives of Saudi Vision 2030.
- It also covers the sustainable development goals of the UN through the Saudi private sector.
Business
Dubai international pharma exhibition generates deals worth $1.38 bn
The 27th edition of the Dubai International Pharmaceutical & Technologies Conference and Exhibition (DUPHAT 2022) has generated direct and indirect...
- The largest of its kind in the region, DUPHAT 2022 was held at the Dubai World Trade Centre and featured the participation of a number of doctors and pharmacists.
- The event attracted more than 22,000 visitors and participants from 82 countries and featured 140 speakers who shared their insights at 112 scientific sessions.
Business
Saudi National Bank looks to make acquisitions in Europe
Saudi National Bank, with backing from its largest shareholder, the Public Investment Fund, is looking to make big acquisitions in...
- Executives of the Kingdom's biggest bank have been eyeing up potential targets and will present the outline of a new strategy to the board in the next few months
- The lender, which has a market value of $82 billion, will only start analyzing potential targets in detail following the outcome of that review
Business
Dubai records weekly real estate transactions worth $1.9 billion
Real estate transactions worth AED7.1 billion ($1.9 billion) were recorded by the Dubai Land Department during the week ending 25...
- The total number of transactions was 2,064, which included 300 plots of land that were sold for AED2.58 billion and 1,382 apartments and villas sold for AED2.88 billion.
- The top transactions were a plot of land in Marsa Dubai that sold for AED535.92 million, followed by a plot that was sold for AED476.81 million in Marsa Dubai.
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Company News
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Global financial industry leaders set to descend on Abu Dhabi
Key speakers from global investment and financial companies include Nouriel Roubini, Chief Economist at Atlas Capital Team L.P and, Hazem...
Business
China sees steady foreign trade growth in first 10 months
The European Union and the United States were China's second-largest and third-largest trading partners during the period, respectively.
Economy
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Economy
Food prices declined in October, says Jordan trade minister
AMMAN, JORDAN - Jordan Minister of Industry, Trade and Supply and Minister of Labor Yousef Shamali said Monday that food...
- The minister attributed the decline to falling oil prices and its impact on production and transport costs.
- He said that the fall in the prices of food is also due to measures taken by the government.
Infographics
Oman’s Loan-to-Deposit ratio best in GCC
The Gulf region’s loan-to-deposit ratio fell by 160 basis points in the second quarter of 2022, due to higher customer...
- The loan-to-deposit ratio dropped below 80 percent for the first time in seven quarters in August.
- A drop in LDR means increased level of liquidity, which in turn indicates that banks are more capable of dealing with unforeseen events like loan losses.
Geostrategy
‘UAE President’s speech at COP27 outlined vision for climate action’
SHARM EL SHEIKH, EGYPT - UAE Minister of Industry and Advanced Technology Dr. Sultan bin Ahmed Al Jaber said that...
- UAE Minister of Industry said effective climate action accelerates opportunities for sustainable economic and social development.
- The minister said that the President's speech emphasized that continuity and perseverance are at the core of the UAE’s strategy.