Israel pauses bombing in Rafah for four hours
Tel Aviv, Israel - The Israel Defense Forces (IDF) suspended its military operation in Rafah in the southern Gaza Strip,...
Geostrategy
Business
Aramco is targeting investment in China : CEO Amin Nasser
Saudi Aramco is interested in investing in China, its President and CEO Amin H Nasser, said. He asserted that Aramco...
- Aramco is holding initial talks with partners, including the state-owned defense contractor Norinco.
- The talks were reportedly about the development of a $10 billion refining and petrochemicals complex in China.
Business
Mubadala invests in PDG
Singapore-based Princeton Digital Group (PDG) has closed an equity investment from Mubadala Investment Company (Mubadala) as a lead investor for...
- PDG is a leading Pan-Asia data center operator with a footprint across key Asian digital economies
- PDG has a portfolio of 20 data centers with over 600MW of secured capacity and spanning five countries
Business
Dubai Expo 2020 likely to record 15m footfall soon
Music highlights included Filipina singing sensation Moira Dela Torre, who enthralled the audience at the Jubilee Stage last Monday.
- As of 21st February, total visitation stood at 14,719,277, days after Coldplay’s unforgettable concert on 15th February
- The international visitation is up 19 percent, primarily thanks to the popularity of the new AED50 Season Finale Pass
Business
UAE trades $22.8 bn worth of rough diamonds in 2021, hits top spot globally
UAE reached the top spot globally as a rough diamond hub, trading over $22.8 billion worth of rough diamonds in...
- Dubai boasts direct flights to other diamond hubs across the world, including mining countries in Africa and manufacturing centers in India.
- Since 2015, the UAE has increased its rough diamonds trade by 76 percent, overtaking Belgium as the world’s leading rough trade hub
Business
Dubai International Airport world’s busiest for eighth consecutive year
Dubai International Airport (DXB) continues to be the world’s busiest airport by international passenger numbers for the eighth consecutive year...
- Current forecasts indicate that traffic through DXB could reach 55.1m by the end of 2022.
- India retained its position as the top destination country for DXB by passenger volume, with passenger traffic for 2021 totaling 4.2m.
Business
Demand for natural gas has gone up 23% since 2011: GECF
Demand for natural gas has shot up 23 percent during the last ten years, according to Secretary-General of the Gas...
- Speaking at the opening session of the 6th GECF Summit, Hamel stressed the importance of natural gas as a type of clean energy in promoting sustainable development
- He also underlined that the convening of the sixth summit in Doha is an indication of the importance that different countries attach to this forum
Geostrategy
World leaders congratulate Saudi Arabia on its Founding Day
Saudi Arabia celebrated the anniversary of its founding day about three centuries ago. The anniversary of Saudi Arabia's founding day...
- The anniversary of Saudi Arabia's founding day coincides with 22 February 1727, since the era of Imam Mohammad bin Saud, the ruler of Diriyah.
- Pakistan Prime Minister Imran Khan the kingdom further progress and prosperity.
Business
Saudi stc posts $3bn profit in 2021 on the back of high sales
stc, Saudi Arabia's top telecom firm, has posted a three percent increase in net profit to $3 billion in 2021...
- Revenues during the year stood at SR63.4 billion, up from SR58.9 billion in 2020
- Separately, stc said it will distribute dividends of SR1.99 billion, or SR1 per share, for the fourth quarter of 2021
Economy
Fitch says outlook on Moroccan banks’ operating environment stable
Fitch Ratings has upgraded to AA(mar)/Stable the rating of Morocco’s Attijariwafa Bank (AWB), one of the five Moroccan banks whose...
- Fitch upgraded to AA(mar)/Stable the rating of Morocco’s Attijariwafa Bank (AWB).
- Five banks, which account for nearly 77 percent of Morocco's banking system assets were reviewed by the ratings agency.
Economy
4% growth in new companies registered in Ajman Free Zone in 2021
The record shows 1,792 newly registered companies in the zone, testifying to the increased investor confidence in the services provided...
- The record shows 1,792 newly registered companies in the zone, testifying to the increased investor confidence in the services provided by the emirates.
- The growth is attributed to the competitive advantages offered by AFZ such as the strategic location, advanced infrastructures and modern facilities.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Israel pauses bombing in Rafah for four hours
Tel Aviv, Israel - The Israel Defense Forces (IDF) suspended its military operation in Rafah in the southern Gaza Strip,...
Geostrategy
Company News
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ACWA’s investments surge
Business
UAE removes most Covid restrictions and eases mask rules
Dubai, UAE—The United Arab Emirates has dropped almost all Covid restrictions as the rate of infection considerably drops in the...
Economy
Saudi F-15S jet crashes, pilots eject unharmed
The aircrew, consisting of two officers, survived the incident after using the ejector seat.
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Economy
UAE to unveil its Net Zero by 2050 roadmap at COP27: Almheiri
‘The UAE is also working on a comprehensive assessment of the status and movement of sustainable financing solutions, including green...
- ‘The UAE is also working on a comprehensive assessment of the status and movement of sustainable financing solutions, including green bonds’
- ‘The country would focus on intensifying efforts to promote climate-smart initiatives to benefit the private sector, through a set of reports and evidence’
Geostrategy
UAE’s climate initiatives to benefit private sector
The Gulf country will reveal the mechanisms for implementing its strategic initiative to achieve climate neutrality 2050, as part of...
- At COP27, the Gulf country intends to reveal the details for the mechanisms and pathways for implementing its strategic initiative to achieve climate neutrality 2050
- This is alongside a comprehensive assessment of the status and movement of sustainable financing solutions, including green bonds, says the UAE minister
Business
Commercial operations begins at Al-Zour Refinery project in Kuwait
Kuwait City, Kuwait - The Kuwait Integrated Petroleum Industries Company (KIPIC) has started commercial operations of the first phase of...
- The project started last month to produce and sell primary quantities of fuel oil and supply it to local electric power stations.
- Acting CEO of KIPIC Waleed Al-Bader said the operation is important and a mainstay of the country's development plan.