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
Economy
UAE ranks 1st in Global Entrepreneurship Index 2022
The Global Entrepreneurship Monitor (GEM) has ranked the UAE 1st globally in its Global Entrepreneurship Index 2022, which was unveiled...
- The UAE also emerged as the number one global destination for establishing and starting businesses
- According to the report, the UAE has achieved an improvement on 11 out of the 13 axes covered by the index
Geostrategy
Sheikh Khaled and Prince William discuss global sustainability initiatives
Chairman of Abu Dhabi Executive Office Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and Prince William of the UK...
- The two were briefed on Environment Agency - Abu Dhabi's (EAD's) ongoing work to protect the environment and enhance biodiversity.
- The initiative marks Prince William's visit, aiming to establish the emirate as a leading global center for research and innovation.
Business
Agthia Group revenue up 49 percent
The company posted a net profit of $58.81 million in 2021.
- The growth in revenues was attributed to strong growth in the Protein and Snacking segments.
- The Consumer-Business contribution to Agthia's top-line almost doubled versus last year, reflecting the positive growth.
Geostrategy
Turkey eyes cooperation in agriculture sector with Iraq, says minister
Turkey wants joint cooperation with Iraq regarding the exchange of products, its Minister of Agriculture and Forestry Bekir Pakdemirli said....
- Tuekey suffers from lack of water, climate change and migration for several reasons, including wars and clashes
- Turkish minister discussed with the Iraqi Minister of Agriculture, cooperation in the agricultural field
Geostrategy
Saudi fund signs debt deferral MoU with Cameroon
The debt deferral agreement has been signed in line with the G20 initiative of 2020 led by Saudi Arabia which...
- Saudi Fund for Development has signed agreement to postpone the debt owed for development projects in Cameroon
- The agreement signed between two party reschedules debt on Cameroon over a period of 6 years
Business
Milaha 2021 profit $199m
The company's profit in 2020 was $16.20 million.
- The Board of Directors decided to recommend to the General Assembly to distribute a 30 percent cash dividend of the par value of a share.
- It is equivalent to QAR 0.30 per share, representing a payout ratio of 47 percent of 2021 net profit.
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
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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
Sure Global to list on Nomu
Business
Latest News
Arab nations to hold economic development summit every four years
Dubbed the 'Arab Development Summit', it may be hosted by the Cairo-based Arab League.
Geostrategy
Villas and apartments worth $479 million sold in Dubai on Thursday
Dubai, UAE---Dubai real estate market recorded transactions worth AED2.4 billion ($653 million) on Thursday, according to Dubai Land Department. A...
Business
UAE a safe global oil, energy supply source: OPEC chief
Since joining the OPEC, the role of the UAE has remained clear: to increase production, maintain economic growth, achieve diversification...
Interview
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Geostrategy
UAE-China trade $64 bn in first eight months of 2022: Ambassador
Dubai, UAE---China-UAE bilateral trade has exceeded US$64 billion during the first eight months of 2022, which marked a 27.93 percent...
- China has become the UAE’s largest non-oil trading partner in the world, said Zhang Yiming, Ambassador Extraordinary and Plenipotentiary.
- UAE remained China’s second-largest trading partner and the largest export market in the Arab region, he said.
Economy
German industries explore investment opportunities in UAE
Some of Germany’s leading industrial companies participated in a roundtable event hosted by the UAE Ministry of Industry and Advanced...
- From the UAE side, representatives from ADNOC, Abu Dhabi Department of Economic Development, Abu Dhabi Investment Office, and TAZIZ were present.
- The delegates also discussed the future of supply chain opportunities in a post-pandemic world.
Business
Saudi Arabia’s first electric vehicle brand Ceer launched by Crown Prince
Ceer will design, manufacture and sell a range of vehicles in Saudi Arabia and the MENA region, including sedans and...
- Ceer is projected to directly contribute US$8 billion to Saudi Arabia’s GDP by 2034, the PIF said. Ceer vehicles are scheduled to be available in 2025.
- Each vehicle will be designed and manufactured in Saudi Arabia, and tested to the highest global automotive quality control and safety standards.