Blinken calls on Israel to stop settler violence in West Bank: Report
Israeli settler violence has increased significantly since the outbreak of the ongoing Israeli genocide campaign in Gaza, rising from an...
Geostrategy
UAE warns of visa ban over job loss insurance fines
ABU DHABI, UAE - Some employees who failed to meet an October 1 deadline to sign up to the UAE's...
Business
Business
Al Seer Marine invests in AD Ports
With an investment of $326m, Al Seer now owns 7.36 percent of AD Ports.
- Founded in 2003 and with AED1 billion in paid-in capital, Al Seer Marine has over 1,200 employees.
- As of December 2021, the company’s assets amounted to AED6.1 billion, compared to AED717.81 million at the start of the year.
Geostrategy
DEWA first in the world to win 8 stars in EFQM Innovation Lens
Dubai Electricity and Water Authority (DEWA) has achieved 8 stars level in the European Foundation for Quality Management (EFQM) Innovation...
- DEWA achieved a score of 800 on this award that measures innovation culture and its role in achieving results in leading organizations worldwide.
- DEWA made many achievements in the field of excellence in 2021, including winning the Sheikh Khalifa Excellence Award (SKEA) in the Elite Category.
Economy
Cooper Fitch forecasts strong GCC hiring activity to continue in 2022
The Gulf Cooperation Council region witnessed a 40 percent rise in job creation in the last quarter of 2021 compared...
- Job creation across the region was driven primarily by a significant recovery in the UAE and Saudi Arabia.
- Real estate, public, software development, cyber security, sales and marketing sectors witnessed a significant increase in hiring.
Business
Contracts worth $2.3 bn awarded across Aldar development projects
Aldar Properties (Aldar) said on Tuesday that contracts worth more than AED8.5 billion ($2.3 billion) were awarded across its development...
- A total of 16 contracts were awarded in infrastructure, residential, commercial, and mixed-use projects in Abu Dhabi.
- The contracts were awarded to 14 They UAE-based contractors, which contributed to the growth of economy, Aldar said.
Geostrategy
UAE and Belgium look to boost security ties
The UAE and Belgium have signed a memorandum of understanding (MoU) in order to strengthen cooperation in the fields of...
- The UAE was represented by Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior
- The memorandum is aimed at stepping up joint cooperation between the two countries, developing bilateral relations in the security and police fields
Business
Bahrain to offer permanent residency visa to attract talent
Bahrain has launched ‘Golden Residency Visa’ for residents and non-residents with immediate processing of the applications electronically upon meeting the...
- The move is a part of the Kingdom’s strategy to attract foreign investments where the visa holders will enjoy benefits
- Bahrain’s ‘Golden Residency Visa’ will be available for qualifying residents, allowing them to take advantage of the benefits
Business
Volume growth helps AD Ports Group post $230m net profit in 2021
The company posted a net profit of $230m in 2021, from $108m in 2020.
- As of 31st December 2021, the total assets of the Group stood at AED28.5 billion.
- In January 2022, the Group received ownership stakes from ADQ in two listed companies--Aramex and National Marine Dredging Company.
Economy
High electricity bills in Jordan due to rise in winter consumption: Regulator
Jordan’s Energy and Minerals Regulatory Commission ascribed any rise in the electricity bill to high demand during this winter when...
- Jordan’s Energy and Minerals Regulatory Commission ascribed any rise in the electricity bill to high demand during this winter when the electricity load was at 4,010 megawatts
- The regulator referred to repeated complaints about higher electricity bills during summer or winter when temperatures rise or fall, prompting consumption to soar
Geostrategy
US to help UAE stop drone attacks
This comes amid recent attacks on the UAE by Houthi rebels from Yemen, which have prompted global condemnation.
- General Kenneth F McKenzie, head of the US Central Command is on an official visit to the UAE
- He said the US was working with the UAE to develop more effective solutions to stop drone attacks
Business
Industries Qatar profit up 321%
The company achieved a net profit of QR 8.1 billion for 2021.
- Industries Qatar said in a statement that the Group revenue significantly improved by 77 percent to reach a record QR 20.2 billion
- Earnings per share (EPS) amounted to QR 1.34 for the year, versus QR 0.32 for last year
Blinken calls on Israel to stop settler violence in West Bank: Report
Israeli settler violence has increased significantly since the outbreak of the ongoing Israeli genocide campaign in Gaza, rising from an...
Geostrategy
Company News
Latest News
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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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.
Geostrategy
UAE, Indonesia to cooperate in energy sector
UAE and Indonesia have signed a Declaration of Intent to boost economic and social development between the two countries and...
- The declaration was signed between the UAE Ministry of Energy and Infrastructure and the Indonesian Ministry of Energy and Mineral Resources.
- It was signed during a joint meeting between the two countries at the Abu Dhabi International Petroleum Exhibition Conference ‘ADIPEC 2022.