Saudi EXIM Bank, Obeikan AGC ink pact
Obeikan AGC Glass will have an export credit insurance policy.
Business
$5.8bn worth deals signed in first four days of Dubai Airshow 2023
DUBAI, UAE – Tawazun Council signed 16 deals, worth US$1.3 billion (AED 4.87 billion), with local and international companies on...
Business
Business
UAE and Israel agree to boost tourism sector ties, plan events
The UAE and Israel signed a Memorandum of Understanding (MoU) to strengthen their tourism and economic cooperation and reinforce their...
- The two sides will intensify their technical cooperation in tourism education, vocational training, marketing and promotional activities.
- The trade between the two countries grew to $700 million within one year of signing Abraham accords.
Business
DWC Airport to host Business Aviation Event ‘MEBAA’ in December
DWC Airport in Dubai will host the MEBAA Show, a business aviation platform, from 6-8 December 2022. The event will...
- The event will showcase the latest trends, insights, innovation and commercial opportunities shaping the future of business aviation.
- Providing a platform for the entire business aviation community, the MEBAA Show will convene again to build partnerships.
Business
Zakat Fund reports revenue of $6 billion in 2021
The Zakat Fund has recorded total revenues of $6 billion in 2021, an increase of 5 percent over the same...
- Abdullah bin Aqeedah Al Muhairi, Secretary-General of the Zakat Fund, said that the fund is totally transparent
- Al Muhairi stressed that the Fund will continue working to raise awareness on the Islamic duty of Zakat
Business
Saudi seaports registers 5.3 percent increase in cargo handling
This includes a 48.28% growth in passenger volume, with the total number reaching 88,000.
- The total food shipments amounted to more than 2 million in January, representing an increase of 2.06 percent compared to last year.
- The statistical figures for January 2022 issued by MAWANI also showed an increase in other operational indicators of Saudi ports.
Geostrategy
Israel, UAE invite joint research proposals from varsities, research institutes
The UAE and Israel are inviting universities and research institutes in both countries to submit joint research proposals based on...
- Successful proposals will be selected by a joint UAE-Israel committee, which will choose one project to be funded.
- The selected research project will receive $200,000 of funding from the UAE Space Agency and Israel Space Agency.
Business
Alpha Dhabi revenues rise 400 percent
The gross profit in 2021 was AED5.1 billion in 2021, compared to AED 218 m in 2020.
- The company said the performance was driven by the strong and consistent business activities of its subsidiaries.
- Alpha Dhabi Holding made strategic investments in 2021 by acquiring a 17.5 percent stake in Aldar which was increased to 30 percent at the year-end.
Business
ADQ to launch digital bank, after CBUAE grants approval
A new digital bank backed by ADQ, an Abu Dhabi-based investment and holding company, will soon begin operations, after the...
- With its headquarters in Abu Dhabi, the digital bank named Wio will enhance the capital's growing reputation as a global financial services centre
- The digital banking platform's primary shareholders ADQ and Alpha Dhabi, one of the fast-growing investment holding companies in the Middle East, own 65 percent
Business
Spotlight on Saudi model cargo villages as the sector grows in 2021
Saudi Arabia recorded a growth in air cargo traffic during 2021 compared to 2020, with the total air cargo until...
- The total air cargo until the end of December of 2021 amounting to more than 653,000 tons.
- The model cargo village at King Khalid International Airport in Riyadh is an advanced logistics platform with an estimated capacity of 500,000 tons.
Geostrategy
Arab Economic and Social Council backs Saudi bid to host Expo 2030
The League called upon the Arab countries to contribute to mobilizing international support for the Kingdom’s request to host the...
- The League called upon the Arab countries to contribute to mobilizing international support for the Kingdom’s request to host the exhibition
- The League held 109th ministerial session of the Economic and Social Council of the Arab League, which was held Thursday at the headquarters of the Arab League
Business
Work begins on $6.2bn Borouge 4 project in Abu Dhabi
The facility is being built at the Borouge’s polyolefin manufacturing complex in Ruwais in Abu Dhabi.
- The project is expected to play a significant role in meeting the projected growth of the global demand for polyolefins
- It will also apparently provide critical feedstock for the TA’ZIZ Chemicals Industrial Chemicals Zone in Ruwais in Abu Dhabi
Saudi EXIM Bank, Obeikan AGC ink pact
Obeikan AGC Glass will have an export credit insurance policy.
Business
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UAE’s mobile internet fastest in Arab world
Infographics
S&P raises Qatar’s credit rating citing its declining debt load
The rating agency predicts that increased oil prices would lead to significant fiscal surpluses in 2022–2023.
Economy
Saudi Arabia’s embassy in United States participates in ‘Cat Walk’
The Saudi ambassador to the United States, and a number of embassy staff were present on the occasion.
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Economy
Temporary employment contracts between countries need enhancements to boost efficiency, production
Sixteen member countries of the Abu Dhabi Dialogue that send and receive laborers discuss problems and welfare of the workers...
- Sixteen member countries of the Abu Dhabi Dialogue that send and receive laborers discuss problems and welfare of the workers during high-level meetings
- Several topics, including enabling member states to manage labor markets and enhance the welfare of laborers through modern technologies, come under review
Geostrategy
UAE’s FNC members discuss cooperation with German Parliament
Members of the UAE-EU Parliamentary Friendship Group of the Federal National Council (FNC), headed by Sarah Mohammed Falkinaz, Chairperson of...
- The two sides affirmed the importance of strengthening their parliamentary cooperation.
- They also discussed relations between the UAE and Germany and of enhancing them in science, health, higher education.
Business
Qatar Central Bank issues treasury bills, sukuk worth $1.6 billion
Doha--The Qatar Central Bank (QCB) has issued Treasury Bills and Sukuk for periods of one week, one month, three, six...
- The bills and sukuk for one week, one month, three, six and nine months worth QR 6 billion ($1.6 billion), and the auction attracted a record amount of bids totaling QR 9.75 bn.
- For September, the bank had issued treasury bills for three, six and nine months, with a value of QR 600 million ($164 million).