Earth to warm up to 2.9C even with current climate pledges, says UN
PARIS, FRANCE - Countries' greenhouse gas-cutting pledges put Earth on track for warming far beyond key limits, potentially up to a...
Geostrategy
Israel police claim Hamas was not aware of a music festival on October 7
DUBAI - An investigation carried out by Israeli police has concluded that Hamas, involved in the October 7 attack, had...
Geostrategy
Business
Aramco head calls for sustained investment in oil sector
Saudi Aramco President and CEO Amin H Nasser urged companies and governments to continue investing in the oil sector to...
- Nasser revealed that Aramco continued investing in 2020 even during the COVID-19 pandemic
- Aramco increased the spare capacity from 12 million barrels per day to 13 million bpd in 2020
Business
Bahrain-based GFH Financial Group launches GCC $100m Sukuk Fund
GFH Financial Group (GFH), a Bahrain-based Islamic investment bank, has announced that is has launched and seeded a $100 million...
- The bank signed an agreement with Credit Suisse to provide financing and fund administration services.
- GFH said it aims to generate returns to the fund through active asset allocation, credit selection, optimal leverage and duration management.
Geostrategy
Using alternative sources of energy saved UAE $191 bn: Suhail Al-Mazroui
UAE has saved $191 billion by using alternative sources of energy, according to Suhail Al-Mazroui, UAE energy minister. Speaking at...
- Energy minister Suhail Al-Mazroui said his country is working on 40 international projects helping other countries implement solar and wind projects.
- UAE has plans to capture 25 percent of the global hydrogen market share, Al-Mazroui told IPTC 2022 Riyadh.
Business
Net foreign investment on Abu Dhabi Exchange the highest ever in 2021
ADX’s market liquidity jumps five-fold in 2021 amid IPO boom, as traded values on the exchange increased 407 percent from...
- Traded values on the exchange increased 407 percent from AED 145 billion ($39.47 billion) in 2020 to AED 739 billion in 2021.
- Local investors accounted for 70 percent of the exchange’s traded value, while foreign institutional investors accounted for 30 percent.
Business
Jordan records 17% spike in export of agricultural products
Jordan has recorded a seventeen percent increase in the export of agricultural products to JD734 million in 2021, compared with...
- Khaled Hneifat, Minister of Agriculture, said that agricultural exports comprised 17.1 percent of the Kingdom's total exports in third quarter of 2021
- Hneifat noted about 61,000 tons of imported agricultural produce were either resent to origin or destroyed after failing to meet Jordanian standards
Geostrategy
Qatar, Algeria sign agreement, executive program, two MoUs
MoUs were about legal and judicial cooperation in criminal matters and the establishment of political consultations and coordination between the...
- MoUs were about legal and judicial cooperation in criminal matters and the establishment of political consultations and coordination between the two countries
- The two countries also signed the executive program in the field of higher education, scientific and technological research
Business
Bahrain lays foundation stone for United States Trade Zone
The ceremony among others was attended by the Minister of Industry, Commerce and Tourism Zayed bin Rashid Al Zayani and...
- The ceremony among others was attended by the Minister of Industry, Commerce and Tourism Zayed bin Rashid Al Zayani and US Ambassador to the Kingdom of Bahrain Steven C. Bondy
- The USTZ project follows the visit of the UAE's Crown Prince and Prime Minister Salman bin Hamad Al Khalifa to the USA in November 2019
Economy
Jordan was subjected to 897 cyberattacks in 2021: Minister
The attacks reportedly focused on sovereign institutions, financial and economic targets, and even individuals.
- Jordan’s Minister of State for Media Affairs, Faisal Shboul, said at a a press conference that the country was subjected to 897 cyberattacks in 2021
- He was accompanied by the head of the National Cyber Security Center, Ahmed Melhem, as they discussed Jordan’s efforts in the cybersecurity field
Economy
Lebanon electricity supply may rise to 8-10 hours a day soon
Gas from Egypt and Jordanian electricity is expected to help Lebanon restore electricity supply to 8-10 hours a day soon.
- The Lebanese have been suffering a financial crisis that has led to power supply being restricted to a mere couple of hours per day
- The country even witnessed an all-encompassing blackout in October last year as power-generating fuel ran out in the country
Business
DIMC, P&O Marinas ink deal to promote marine sports in Dubai
The deal they signed is expected to support the development in various activities and events in the field of marine...
- DIMC is the government entity responsible for organizing marine sports activity in the emirate
- Dubai-based marina operator and yacht destination P&O Marinas is a subsidiary of DP World
Most Read
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
Earth to warm up to 2.9C even with current climate pledges, says UN
PARIS, FRANCE - Countries' greenhouse gas-cutting pledges put Earth on track for warming far beyond key limits, potentially up to a...
Geostrategy
Company News
Latest News
Food prices declined in October, says Jordan trade minister
AMMAN, JORDAN - Jordan Minister of Industry, Trade and Supply and Minister of Labor Yousef Shamali said Monday that food...
Economy
Oman’s Loan-to-Deposit ratio best in GCC
The Gulf region’s loan-to-deposit ratio fell by 160 basis points in the second quarter of 2022, due to higher customer...
Infographics
‘UAE President’s speech at COP27 outlined vision for climate action’
SHARM EL SHEIKH, EGYPT - UAE Minister of Industry and Advanced Technology Dr. Sultan bin Ahmed Al Jaber said that...
Geostrategy
Most Read
Economy
Oman state budget surplus $2.92 billion by September end: Ministry
Muscat, Oman---Oman’s budget achieved a surplus of RO 1.123 billion ($2.92 billion) at the end of September 2022, the country's...
- The country reported deficit of RO 1.030 billion for the same period last year, the finance ministry said.
- Oman's public revenues were up by more than 43 percent due to an increase in oil prices and production.
Economy
Jordan’s real estate trading up 23% in January-October of 2022
AMMAN, JORDAN - Jordan's real estate trade picked up by 23 percent to US$6.8 billion (JD4.875 billion) in 2022's January-October...
- State's revenue from the real estate market stood at US$344 million by the end of October in Jordan.
- Trade volume in the Jordanian real estate market went up in October 2022 by 21 percent compared to October 2021.
Science
Hub71, Yahsat partner to support satellite operations tech
Hub71 and Yahsat are both supported by Mubadala investment company.
- The two companies are supported by Mubadala investment company
- Hub71 is now home to almost 200 startups working across 20 sectors