Debt Settlement Fund waives default loans worth over US$107m in UAE
DUBAI, UAE - The Citizens Debts Settlement Fund announced the exemption of 1,244 citizens from their debts with a total...
Geostrategy
Jordan’s jewelry, pharmaceutical exports rise in January-September 2023
AMMAN, JORDAN – The Kingdom’s exports of jewelry increased by 71.5 percent during the January-September period of 2023 and pharmaceutical...
Economy
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.
Business
At $2.24trn value, Aramco tests Apple for the top slot
Aramco is inching closer to dislodging Apple as the world's most valuable company when the former's shares rose up, taking...
- The Saudi oil giant surpassed Microsoft, claiming its position as the second-largest valued company worldwide
- As of 11.04 a.m. Saudi time, shares stood at SR42 ($11.2)Â after the oil giant closed a $15.5 billion pipeline deal
Business
e& 2021 net profit $2.53 bn
The net profit was 3.2 percent higher than in 2020, the company said.
- UAE’s largest telecom operator said that foreign ownership limit in share capital from 20 pc to 49 pc increased ownership stake in Maroc Telecom Group from 48.4 pc to 53 pc.
- The company has proposed a dividend of AED 0.4 per share for the second half of 2021, representing a total dividend for FY2021 of AED 0.8 per share.
Debt Settlement Fund waives default loans worth over US$107m in UAE
DUBAI, UAE - The Citizens Debts Settlement Fund announced the exemption of 1,244 citizens from their debts with a total...
Geostrategy
Company News
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Qatar wealthiest, UAE happiest in Arab world
Infographics
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.
Geostrategy
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...
Business
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Economy
AIIB, GEAPP partner to fund the energy transition in Asia and beyond
The partnership will address the energy transition challenges around the world through the identification of co-financing opportunities for projects.
- The partnership will address the energy transition challenges around the world through the identification of co-financing opportunities for projects
- The partnership follows extensive cooperation between AIIB and GEAPP over the last year and is the first time AIIB has partnered with a global foundations-led initiative
Videos
Video: TOP CEO Conference discusses fake news in May, months later social media giants take action
Facebook, Instagram, Twitter and other social media platforms have reportedly blocked campaigns aimed at influencing opinion in Central Asia and...
- Facebook, Instagram, Twitter and other social media platforms have reportedly blocked campaigns aimed at influencing opinion in Central Asia and the Middle East
- Businesses in the MENA region are at an increased risk from online fake news which costs US$80 billion to the global economy every year
Geostrategy
Jordan sets up program to protect witnesses, whistleblowers
Amman, Jordan— Funded by the Canada Fund for Local Initiatives (CFLI), Jordan has launched a program aimed at better protecting...
- MP Omar Ayasra emphasized the significance of providing witnesses and whistleblowers with protection during a ceremony held on Monday to launch the project
- Secretary-General Ibrahim Majali revealed that only 10 percent of incoming complaints are followed up, while 90 percent proved untrue thus far