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
UAE approves Dubai Metro Blue Line project
DUBAI, UAE - Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has approved the...
Geostrategy
Business
UAE Defense Ministry signs deals worth $544m at UMEX & SimTEX
Deals worth more than AED2 billion ($544 million) were made by UAE’s Ministry of Defense during the fifth edition of...
- This was the largest edition of this event in terms of exhibition area and exhibitors, with 134 exhibitors from 26 countries from around the world.
- The Ministry of Defense’s deals on the third and final day of UMEX & SimTEX 2022 included deals with local companies valued at AED 51 million.
Geostrategy
UAE, EU discuss measures to boost regional economic cooperation
Speaker of the UAE Federal National Council (FNC) Saqr Ghobash discussed the ongoing cooperation between the UAE and European Union...
- Ghobash and White strongly condemned the Houthi attacks on civilian facilities in the UAE and stressed the need to find peaceful solutions to conflicts
- They also highlighted the importance of continuing their coordination on matters of mutual concern, and addressing terrorism and helping establish security, stability and peace
Business
QDB inks deal with QSC
Qatar Development Bank (QDB) will support Qatari entrepreneurs and innovators, small and medium-sized companies, to help diversify the country's economy.
- The MoU provides for the support of innovators of the Qatar Scientific Club by providing financial grants
- It also helps by providing technical consultancy to manufacture and test the prototype for innovation
Business
Tibbiyah closes IPO at $22 million
Fully owned by Al Faisaliah Group, Tibbiyah is a leading healthcare provider in Saudi Arabia and the region.
- The retail offering was 12.63 times covered after allocating one million shares to individual investors
- The share offer price was set at Saudi Riyal 82 ($22), Aldukheil Financial Group said in the statement
Business
Israel Diamond Exchange in Dubai
The exchange is based in Dubai Multi Commodities Centre.
- Dubai Multi Commodities Centre said the office is set to increase the ease of doing business for Israeli diamond companies.
- The opening comes a day after DMCC announced that the UAE has become the world’s largest rough diamond trade hub.
Geostrategy
Qatar to recall two infant products on suspicion of contamination
The Ministry urged all consumers to report any violations by communicating with the Consumer Protection and Anti-fraud Department.
- The decision is taken due to the possibility of contamination of these products with Salmonella and Chronobacter bacteria.
- The Ministry stated in a statement today that this move comes to ensure the immediate cessation of the use of the products.
Business
ICESCO to cooperate with Qatari institutions and authorities
The Director-General of ICESCO Salim bin Mohammed Al-Malik met with Ambassador of Qatar to Morocco Sheikh Abdullah bin Thamer
- During the meeting, they discussed ways to enhance the distinguished relations of cooperation between ICESCO and Qatar
- The officials also reviewed aspects of the success achieved during the celebration of Doha, Capital of Culture of the Islamic World 2021
Business
Saudi real estate to contribute 9% to GDP by 2030
The Saudi real estate sector will contribute close to nine percent to the national gross domestic product by 2030, according...
- The kingdom's residential real estate finance is expected to exceed 1.2 million contracts with a value of SR600 billion ($162 billion) by 2030
- Real estate witnessed growth in land and property registration by 85 percent in 2021
Business
ADNOC L&S and AG&P sign storage pact
ADNOC L&S' LNG Carrier Ish will be used as a Floating Storage Facility.
- Under the agreement terms, starting Q3 2022, AG&P will use the carrier for the first LNG Import Terminal in the Philippines at Ilijan in Batangas Bay (PHLNG).
- The vessel is part of a fleet of eight LNG vessels operated by ADNOC L&S and is currently under contract to ADNOC LNG, a subsidiary of ADNOC.
Business
Iraq to team up with Halliburton and Aramco to explore oil
Iraq is looking to partner with Halliburton Co. and Aramco to tap into oil and gas reserves in the Western...
- The Iraqi ministry is finalizing the commercial terms of work
- The country is also discussing with Aramco the possibility of funding and developing a natural gas field, also known as Akkas
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
Company News
Tadawul market cap vaults
Business
Latest News
SAFEEN, Amaan Baghdad sign MoU
Business
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...
Geostrategy
Global tourism now at around 70% of pre-pandemic levels: UNWTO
“Our job is to create jobs,” UNWTO Secretary-General Zurab Pololikashvili told tourism sector leaders at the World Travel Market.
Economy
Saudi signs agreements with Oman, Egypt to boost energy ties
Sharm el-Sheikh, Egypt—Saudi Arabia has signed two separate agreements with Oman and Egypt to boost ties in the energy field....
Business
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Arts & Culture
UAE views creativity through the lens of openness
"While living in Dubai, and through my performances in the UAE, I found that the culture of tolerance here is...
- The UAE’s far-sighted and rhythmic alignment with others has a great impact on the intercultural convergence it has made possible across creative sectors
- The country threw up a new model to catalyze creative growth in the music scene, through its ‘jazzy’ venture to provide a conducive environment
Business
Zain Group 9M net profit $492m
Revenue was up 12% to reach $4.2 billion for the same period.
- An interim cash dividend of 10 fils, totaling $140 million was distributed in September 2022.
- The company added 3.5 million active subscribers to a total of 52 million customers, a 7 percent year-on-year growth.
Geostrategy
Jordan imported 405k barrels of Iraqi crude in October
AMMAN, JORDAN - Jordan imported about 405,550 barrels of crude oil from Iraq in October, an average of 13,000 barrels...
- Jordan had imported roughly three million barrels of Iraqi crude from September 2021 to October 2022.
- The crude oil was transported by 11,565 Jordanian and Iraqi tanker trucks.