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
EGA begins work on pilot plant to convert bauxite residue into manufactured soil
ABU DHABI, UAE – Emirates Global Aluminum (EGA) on Thursday announced the construction of a pilot plant to convert bauxite...
Business
Business
The board of Al Rajhi Bank favors capital hike to $10.7bn
Al Rajhi Bank has recommended a sixty percent increase in the bank’s capital to $10.7 billion.
- The capital will be increased by granting SR15 billion in bonus shares to the bank’s shareholders
- The eligibility to get bonus shares will be given to shareholders owning the stocks by the end of the trading day of the bank’s Extraordinary General Assembly meeting date
Geostrategy
Bahrain government launches scheme to extend health services to citizens
Bahrain government has launched a health scheme, “Medic in Every Home”, aimed at extending health services and reaching out to...
- The project aims to enhance Bahrain’s rating on the third and fourth Sustainable Development Goals and increase the survival rate of the injured.
- Medic in Every Home was one of the three innovative ideas which were declared winners of the third edition of the Government Innovation Competition (Fikra).
Economy
Lebanon government clarifies on claims of overspending on dams
The Ministry of Energy and Water has said the two dams have so far cost $90 million, and not the...
- The expenditure on the Msailha Dam amounted to $69.13 million, according to official figures
- The same figures from the government say the amount spent on the Balaa Dam was $24 million
Economy
UAE inks deal to make medications more affordable
The initiative will provide affordable medicines to uninsured and low-income expat patients or those whose insurance does not cover the...
- The MoU was signed by the Ministry of Health and Prevention of the United Arab Emirates (UAE)
- It was inked with Janssen Pharmaceutical Companies of Johnson & Johnson, and healthcare consulting firm Axios
Geostrategy
SFD launches $135m infra projects
The projects have been inaugurated in Djibouti.
- The projects include two new development initiatives in the water and housing sector
- The fund has also laid the foundation stone for a project in the transportation sector
Economy
Golden Visa to boost Bahrain business attractiveness: Expert
The Bahrain Golden Visa was recently announced during a Cabinet meeting chaired by Crown Prince and Prime Minister Salman bin...
- To qualify for the Golden Residency Visa, existing residents must have stayed in Bahrain continuously for at least five years
- They must also have earned an average basic salary of no less than BHD 2,000 ($5,305) per month throughout the duration
Science
UAE sees climate action as catalyst of economic prosperity
UAE’s Minister of Industry and Advanced Technology, and UAE Special Envoy for Climate, Sultan Ahmed Al Jaber has said that...
- The minister noted the need to increase investments in agri-tech and leverage best practices that safeguard vulnerable nations' food and water security
- He was speaking at the Munich Security Conference titled "Scaling Up Climate Action" where he reiterated the UAE's support for robust climate finance
Business
UAE to allow cooperative associations to trade in markets
The UAE has announced that it will allow cooperative associations to trade their shares in financial markets, according to media...
- United Arab Emirate's cabinet of ministers has approved this new decision
- The move aims to strengthen the regulatory environment of the cooperative sector
Business
UAE and Hungary to collaborate in energy sector
UAE Energy Strategy 2050 aims to increase the contribution of clean energy in the total energy mix from 25 per...
- The two sides also discussed an exchange of expertize and best practices in infrastructure, housing and transport
- The ministers of UAE and Hungary met on the sidelines of Dubai Expo 2020 and discussed cooperation in energy
Business
Sisi of Egypt praises WHO for vaccine know-how to Africa
Egyptian President Abdel Fattah El-Sisi has praised the World Health Organization for its decision to pick Egypt and five other...
- In his speech at the European Union — African Union Summit, he stressed Egypt’s ability to use this technology to ensure the continued availability of vaccines to his country
- The WHO announced that Egypt, Tunisia, Kenya, Nigeria, Senegal and South Africa will be the first countries on the continent to obtain technology required to produce vaccine
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
Company News
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China sees steady foreign trade growth in first 10 months
The European Union and the United States were China's second-largest and third-largest trading partners during the period, respectively.
Economy
Paris Agreement key to achieve sustainable development goals: Middle East Green Summit
The summit reviews ways to enhance integration of the optimal energy mix for electricity production to achieving climate change targets...
Geostrategy
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
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Geostrategy
‘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...
- UAE Minister of Industry said effective climate action accelerates opportunities for sustainable economic and social development.
- The minister said that the President's speech emphasized that continuity and perseverance are at the core of the UAE’s strategy.
Business
2 Emirates NBD India branches
The branches cater to northern, southern areas.
- In 2017, the bank inaugurated its first full-fledged branch in India’s commercial centre, Mumbai.
- The bank’s 60-second zero-fee digital funds transfer service to India, DirectRemit, has facilitated 2.5 million remittances to India.
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.