UAE Islamic Treasury Sukuks auction is a tremendous success
ABU DHABI, UAE - The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer, in collaboration...
Business
FGCC Chambers to hold GCC-Egyptian Business Forum in Saudi Arabia
AL-KHOBAR, SAUDI ARABIA - The Federation of Egyptian Chambers of Commerce (FEDCOC) is scheduled to host the first Gulf-Egyptian Business...
Business
Business
Dana Gas posts $317m profit
The company's revenue rose 30 percent to $452 million in 2021.
- The company revealed the profit in Preliminary Unaudited Financial Results for the full year ended 31st December 2021
- Revenue increased 30 percent to $452 million in 2021 compared to $349 million in 2020 due to higher oil prices
Business
UAE and Spain to collaborate in 4IR, industry, aerospace
The UAE’s Ministry of Industry and Advanced Technology (MoIAT) and Spain’s Ministry of Industry, Trade and Tourism (MITT) signed a...
- The UAE’s Ministry of Industry and Advanced Technology (MoIAT) and Spain’s Ministry of Industry, Trade and Tourism (MITT) sign an MoU.
- Other areas of collaboration include automotive, health and life sciences and standards and regulations.
Arts & Culture
Mosul’s fallen monuments to rise again
The reconstruction of Al-Hadba minaret and Al-Saa’a and Al-Tahera Churches in the city is being carried out by UNESCO in...
- After the city was liberated, UNESCO launched in 2018 an ambitious international initiative to “revive the spirit of Mosul”.
- The UAE was the first partner to join this UNESCO’s initiative for the restoration and reconstruction of the historic landmarks of Mosul – Al-Nouri Mosque and Al-Hadba minaret.
Economy
Saudi economy grew 6.8% in Q4, 3.3% in 2021
The data was released on Thursday, February 10, by the country’s General Authority for Statistics (GASTAT).
- This positive growth in the GDP was attributed to the high increase in oil activities: as much as 10.8 percent
- Non-oil activities were up 5 percent, and government services activities rose 2.4 percent year-on-year
Business
CBD net profit $394
The bank's assets reach a record AED114 billion: CEO
- The CEO attributed the net profit to improved net interest income, stable non-funded income and lower expected credit losses.
- Operating income for the full year of 2021 amounted to AED3.18 billion, an increase of 6.9 percent, attributable to higher Net Interest Income.
Geostrategy
Saudi Arabia, Pakistan sign MoU for cooperation on environment
The MoU was co-signed by the Minister of Environment, Water and Agriculture Eng. Abdulrahman Al-Fadhli and Pakistan Minister for Climate...
- The MoU was co-signed by the Minister of Environment, Water and Agriculture Eng. Abdulrahman Al-Fadhli and Pakistan Minister for Climate Change Malik Amin Aslam
- The envitronment aims at boosting joint action in the fields of developing green cover, combating desertification, planting trees, protecting the environment etc
Geostrategy
Valid PCR requires to travel through King Fahd Causeway
The Police Directorate of Causeway has asked travelers to follow precautionary measures that are mandatory.
- Those who have been fully vaccinated and have a valid PCR would be allowed to pass through King Fahad Causeway bridge
- Violators caught in breach of law would be sentenced up to 10 years in jail and those provided assistance would also be charged
Economy
JBA head, Tunisian envoy discuss enhancing joint economic cooperation
According to a JBA statement it has helped promote joint investments and increase the volume of Jordan-Tunisia trade exchange.
- According to a JBA statement it has helped promote joint investments and increase the volume of Jordan-Tunisia trade exchange
- The two sides discussed joint cooperation in the sectors of garment, textiles, banking, contracting, traditional industries, transport, shipping, and pharmaceutical industries.
Kuwaiti Crown Prince urges officials to develop sporting spirit
Al-Sabah said this in a speech at Bayan Palace when receiving Minister of Public Works and State Minister for Youth...
- Al-Sabah said this in a speech at Bayan Palace when receiving Minister of Public Works and State Minister for Youth Affairs Ali Al-Mosa
- He was presented with the three winning teams of the Amir Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah Championship
Science
UAE to lift Covid curbs on activities, events slowly
This was revealed during the media briefing on the coronavirus pandemic by Dr. Saif Al Dhaheri and Dr. Farida Al...
- This was revealed during the media briefing on the pandemic by Dr. Saif Al Dhaheri and Dr. Farida Al Hosani, official spokespersons for NCEMA and health sector respectively
- Dr Al Hosani highlighted the importance of community responsibility and the pivotal role of community members in supporting the efforts to achieve sustainable recovery
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UAE Islamic Treasury Sukuks auction is a tremendous success
ABU DHABI, UAE - The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer, in collaboration...
Business
Company News
AlBabtain launches IPO
Business
Latest News
UAE president, Biden meet virtually to discuss energy transition
The two leaders highlighted the just announced comprehensive UAE-US initiative to accelerate the energy transition.
Economy
ADNOC and Siemens Energy to develop low-carbon energy certificates
Abu Dhabi, UAE---Abu Dhabi National Oil Company (ADNOC) and Siemens Energy AG today announced plans to pilot blockchain technology to...
Business
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Videos
Video: IMF echoes what TOP CEO Conference forecast about inflation in May 2022 – MENA growth may slow
Inflation has a significant cost-push pressure on cost of living and will impact the daily set of requirements of people...
- Inflation has a significant cost-push pressure on cost of living and will impact the daily set of requirements of people in the region, one of the experts had said at the event
- The MENA economies will continue to remain resilient this year, but double-digit inflation is expected to slow growth in 2023, the latest IMF report highlights
Economy
Saudi Arabia, Egypt discuss renewable energy cooperation
The two ministers also talked about the progress in the electrical interconnection efforts.
- The two ministers also talked about the progress in the electrical interconnection efforts
- They also discussed ways to improve cooperation between their specialized businesses
Business
Saudi Arabia and Finland to start air services and increase trade
Helsinki, Finland— Saudi Arabia and Finland have signed an agreement to regulate air transport and start air services between the...
- The memorandum aims to boost trade and raise the level of economic partnership between the two nations
- The agreement includes the organizational clauses related to transport rights, the plurality of designating national carriers, determining the number of regular flights