Astra Tech to launch financial services powered by AI in 2024, says CEO
ABU DHABI, UAE - CEO and Co-Founder of Astra Tech Abdallah Abu-Sheikh said that the company will launch its first...
Business
UAE presents its maritime contributions at IMO meet in UK
DUBAI, UAE - Presenting its category B candidacy in the International Maritime Organization (IMO) Council at the organization’s focus group...
Business
Business
Dubai Maritime City launches $38m infrastructure project
Dubai Maritime City (DMC), DP World’s purpose-built maritime hub, announced the launch of a major project worth AED140 million ($38.1...
- The project is part of ongoing efforts to boost Dubai’s economy and enhance the efficiency of the logistics sector
- It includes developing networks for deep sewage, stormwater, fire, irrigation, potable water
Business
Aramco discovers four natural gas fields in Saudi Arabia
The exploration of natural gas will further enhance Saudi's status as the premium exporter of energy sources.
- The four major areas are in the Central Region, the Empty Quarter, the Northern Border Region and the Eastern Region.
- The four fields where the natural gas has been found are named as are Shadun, Shehab, Um Khanasser and Samna.
Geostrategy
Jordan, Tunisia review bilateral ties, ways to boost health cooperation
The ministers of Jordan and Tunisia discussed ways to enhance bilateral ties, especially in health cooperation. Jordan’s Health Minister Firas...
- Jordan’s Health Minister Firas Al Hawari met with Tunisian counterpart Ali Mrabet on Saturday in Amman
- The ministers reviewed establishing health facilities such as cancer treatment centers and structures for monitoring communicable diseases.
Economy
Tunisia allots $10.4m to ‘social and solidarity economy’
Tunisia has devoted a budget of 30 MD ($10.4m) to the social and solidarity economy for the next three years.
- Minister of Employment and Vocational Training Nasreddine Nsibi said this during a seminar
- The Minister stressed that the social and solidarity economy will allow the creation of new jobs
Economy
World Bank to support Iraq higher education with $5m
The World Bank (WB) announced that it would support the higher education sector in Iraq with an amount of $5...
- The project of World Bank will support the Ministry of Higher Education and Scientific Research in Iraq
- World Bank will also help to develop centers of excellence in sectors of agriculture and renewable energy
Economy
UAE non-oil foreign trade grows by 27 percent in 2021 to $517 billion
The government said the non-oil foreign trade figures of all emirates also witnessed growth individually in varying levels. The growth...
- The value of national non-oil exports amounted to about AED 354 billion, setting a new record, exceeding AED 300 billion for the first time in its history.
- China ranked first as the country's largest trading partner in 2021, accounting for 11.7 percent of the UAE's total foreign trade with the world.
Arts & Culture
Forward-looking UAE museum looks into the future
The Museum of the Future along Dubai's main highway has been touted as the 'world's most beautiful building'.
- Its organizers have said the visitors will be taken “on a journey of the year 2071”.
- Many believe the Museum of the Future is UAE’s one more attempt to boost its soft power as a trading and tourism hub and to diversify its economy away from oil.
Business
e& of UAE to foray into international markets for growth
e&, the UAE telecom firm, is looking to widen its operations overseas and push growth across all business segments.
- The company intends to do this by pursuing regional growth opportunities as well as tapping into markets beyond telecom
- E&’s “telecom arm” will maintain its rebranding in the UAE and internationally
Geostrategy
UAE wants political solution to Ukraine crisis: Anwar Gargash
Anwar Gargash, UAE Minister of State for Foreign Affairs and adviser to President Khalifa Bin Zayed Al-Nahyan, made these comments...
- The world is facing a difficult test and severe polarization imposed by the Ukrainian crisis, which threatens the foundation of international community, Gargash said.
- Ministry of Foreign Affairs and International Cooperation (MoFAIC) had expressed particular alarm at the consequences for civilians present in Ukraine.
Business
Shares of Ma’aden shoot up 6% on the back of record earnings
Shares of Ma’aden, the Saudi mining company, vaulted six percent in trading on Sunday when news broke of its record...
- Amid a jump in commodity prices, the miner turned into a profit of SR5.2 billion in 2021, after making losses of SR280 million a year ago, according to a filing
- Despite solid results, the company said it won't pay any dividends to shareholders for 2021 “based on the company’s need to continue funding its current and future projects”
Astra Tech to launch financial services powered by AI in 2024, says CEO
ABU DHABI, UAE - CEO and Co-Founder of Astra Tech Abdallah Abu-Sheikh said that the company will launch its first...
Business
Company News
SEIC strikes US$150m deal
Business
Latest News
Multiply Group buys 80% of IEH
Business
e& commits to net-zero operations by 2030
The global technology and investment conglomerate pledged to achieve net-zero for Scope 1 and 2 emissions.
Business
S&P says GCC economies to get a boost from Qatar World Cup
Dubai, UAE— The economies of the Gulf Cooperation Council will likely receive a boost from the FIFA 2022 World Cup,...
Economy
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Interview
Crises augment EU-GCC energy & security cooperation
Josep Borrell, the EU High Representative for Foreign Affairs and Security Policy, points out that since the Ukrainian crisis, an...
- The Ukrainian crisis has been a big push for the EU to understand the requirement of more renewables, especially the need to develop hydrogen, says EU official
- The European Union has a new strategy for more engagement and better partnership with the Gulf countries, the bloc's foreign policy chief Josep Borrell adds
Geostrategy
COP27: ACG to give $24bn for climate action by 2030
The fund will support the acceleration of the energy transition, the increased resilience of food, transport, water and urban systems,...
- The fund will support the acceleration of the energy transition, the increased resilience of food, transport, water and urban systems, and the promotion of energy security
- The financial commitment by the Arab Coordination Group comes as part of a joint Call for Climate Action for Equitable Development at COP27
Business
AD Ports, IDB ink deal to enhance UAE-Iraq trade flows
Abu Dhabi, UAE - AD Ports Group and International Development Bank (IDB) have signed a deal to review opportunities for...
- IDB aims to provide its services to corporate clients and support a range of key infrastructure projects in UAE and Iraq.
- The UAE and Iraq have continued to strengthen trade ties in 2022, with several trade agreements and development deals.