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
Monsha’at reports Q3 rise in SMEs driven by growth across non-oil sectors
RIYADH, SAUDI ARABIA - The General Authority for Small and Medium Enterprises (Monsha'at) has released its latest quarterly SME Monitor,...
Economy
Geostrategy
UAE sends food aid to Ethiopia’s Tigray region
The aid was sent following the directives of the UAE's leadership to help improve the humanitarian situation in the Tigray...
- The UAE has already sent six planes carrying 300 tons of relief and food supplies to the city of Mekelle
- That aid, which included 200 tons of vegetable oil, was sent last year in cooperation with the World Food Program
Business
Saudi Arabia and UAE drive real estate growth in the region
Saudi Arabia and the UAE are driving the real estate market in the Middle East region with the backing of...
- Kingdom’s residential real estate prices increased by 1.7 percent on an annual basis in the fourth quarter of 2021
- Apartment values in Riyadh and Jeddah accelerated by 17 percent and 12 percent, respectively, in the last 12 months
Geostrategy
UAE, UK discuss strategic cooperation
The ministers of the UAE and the UK discussed the historic relations between the two countries and their strategic cooperation,...
- Sheikh Abdullah bin Zayed Al Nahyan, UAE’s Minister of Foreign Affairs and International Cooperation represented UAE
- He underlined the longstanding relations between the UAE and the UK and their continuous desire to strengthen them
Economy
Job creation in Oman posts 129% jump in 2021
In 2021, total revenues of the Ministry of Labor stood at RO 232.9 million ($605million) generated from fees of licenses...
- The number of new employees in the private sector in 2021 stood at 49276 of which 42609 were contracted employees
- The employment-linked training programs and on-the-job training programs benefited 9859 job seekers in 2021
Geostrategy
Iran says it will continue to enrich uranium even after a deal
Iran has said that it will continue to enrich uranium to 20 percent purity even after sanctions against it are...
- Iran is now enriching to various levels, the highest being around 60 percent
- Iranian officials had told media earlier that Iran had agreed to suspend its 20 percent and 60 percent enrichment if an agreement is reached in the Vienna talks
Geostrategy
UAE calls for ‘cessation of hostilities’ in Russia-Ukraine war
The UAE has called for immediate cessation of hostilities in the war between Russia and Ukraine. The appeal came in...
- the Ministry of Foreign Affairs and International Cooperation (MoFAIC) expressed particular alarm at the consequences for civilians present in Ukraine, as well as for the region
- The Ministry emphasized the importance of ensuring that humanitarian assistance reaches those in need, and called on all parties to respect International Humanitarian Law
Economy
UAE eases Covid-19 protocols for citizens and travelers
The UAE’s National Emergency Crisis and Disasters Management Authority relaxed the rules in coordination with its main partners.
- At the local level, each emirate now has the flexibility to determine the duration of the quarantine period and PCR tests for Covid-19 contacts
- However, they must maintain the need to follow precautionary and preventive measures, which include physical distancing and mask-wearing
Business
DP World acquires 100% stake in Imperial
The acquisition is expected to also add significant strategic value to DP World given Imperial’s footprint and strong market access...
- The acquisition is expected to also add significant strategic value to DP World given Imperial’s footprint and strong market access and logistics solutions capability
- DP World and its subsidiaries employ over 71,000 people across its worldwide operations
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.
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
Company News
Arada awards two contracts
Business
Anaam to raise US$42m
Business
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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...
Business
Abu Dhabi to host World Islamic Economic Forum in 2024
Launched in 2005 by the WIEF Foundation, the WIEF is a global platform created to promote and discuss the latest...
Economy
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Geostrategy
Biden’s upcoming foreign trip to focus on Climate, Ukraine, China
Biden's tour would include meetings of ASEAN and the Group of 20 industrialised nations in Cambodia and Indonesia.
- Biden's tour would include meetings of ASEAN and the Group of 20 industrialised nations in Cambodia and Indonesia
- The trip will begin two days after the US midterm elections which will determine whether Democrats keep their congressional majorities
Business
Villas, apartments form major chunk of $598m Dubai realty deals Tuesday
Dubai, UAE---Dubai real estate market recorded realty deals worth AED2.2 billion ($598 million) on Tuesday, according to the data by...
- The deals include 544 sales transactions worth AED1.64 billion, in addition to 78 mortgage deals of AED590.54 million.
- Residential properties in the UAE remain a top priority for international real estate investors.
Business
Al Arabia’s profit up 43%
Its profit rose to $52 million in first nine months.
- The Riyadh-based firm, partly owned by media giant MBC group, saw its revenue jump 64 percent to $216 million
- It added that the results were bolstered by the company's efforts to enhance regional expansion and enter new projects and strategic partnerships