Dubai Customs thwarts smuggling at airport, seize drugs
DUBAI, UAE –The Dubai Customs apprehended a traveler arriving from a European country who was trying to smuggle various small...
Geostrategy
Middle East conflict alters regional energy dynamics
Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact...
Business
Business
Aldar Education gets $272m
Company's growth plan focused on three locations in Abu Dhabi.
- Aldar Education currently owns nine schools under Aldar Academies and Cranleigh Abu Dhabi and manages a further 11 schools.
- The company aims to increase the existing student capacity in Aldar Education’s owned and managed schools to over 40,000 seats by Academic Year 2024-25.
Geostrategy
GACA and Oracle sign MoU to steer digital transformative initiative
Saudi Arabia’s General Authority of Civil Aviation (GACA) has signed an MoU with Oracle to develop and support a roadmap...
- The memorandum was signed on the sidelines of the Global Tech Conference "LEAP" held in Riyadh.
- It also stipulates mutual coordination regarding cloud seminars, training and guidance, facilitating training.
Economy
Green Hydrogen Production among 98 new activities added to Dubai economy
A total of 98 new economic activities have been added to several sectors of Dubai in 2021, bringing the total...
- The total number of economic activities in the Emirate has reached 2,200. In 2020, the DET had added 58 activities.
- Artificial Intelligence Developing Services, Gaming Localization Services and Industrial Consultancies are among other activities added this year.
ADNOC announces vital gas discovery offshore of Abu Dhabi
The Abu Dhabi National Oil Company (ADNOC) has announced the discovery of natural gas resources offshore of the Emirate of...
- This discovery marks the first of Abu Dhabi’s offshore exploration concessions
- Offshore Block 2 covers an area of 4,033 square kilometers northwest of Abu Dhabi
Business
Saudi connectivity takes off with five times faster Wi-Fi-6e
The Communications and Information Technology Commission (CITC), Saudi Arabia’s digital regulator, has announced the launch of WiFi-6e as part of...
- The latest generation of Wi-Fi technology offers data transfer speeds more than five times faster than the current standard
- It provides more capacity for high-bandwidth activities such as 8k gaming, video conferencing and virtual reality applications
Business
Jordan trade chamber, Egyptian envoy talk economic cooperation
The two countries discussed reducing obstacles facing the two-way flow of imports into the countries and enhancing trade and economic...
- The two countries discussed reducing obstacles facing the two-way flow of imports into the countries and enhancing trade and economic relations
- Tawfiq, the president of the Amman Chamber, reiterated that Jordan-Egypt were a model of good relations between Arab states
Business
UAE, Japan bilateral trade hit $30.5 bn in 2021
More than 340 Japanese companies have their bases in the UAE working in various sectors including infrastructure, industry, and energy,...
- More than 340 Japanese companies have their bases in the UAE working in various sectors including infrastructure, industry, and energy, a UAE official said
- A memorandum of understanding was also signed between the Department of Municipalities and Transport (DMT) and Sumitomo Corporation
Economy
Digital Cooperation Organization launches Startup Passport at LEAP
The Digital Cooperation Organization (DCO) has announced the launch of the DCO Startup Passport to make it quicker, easier and...
- The initiative will start initially in Saudi Arabia and Nigeria, opens potentially lucrative markets with a combined population of more than half a billion.
- The Startup Passport addresses the problems of SMEs challenges by reducing administrative and financial burdens and accelerating corporate registration.
Economy
‘Skills Bahrain’ set for launch, expected to meet labor market demands
Tamkeen, a semi-autonomous Bahraini agency, has said that the “Skills Bahrain” initiative is all set to be launched in the...
- 'Skills Bahrain' is the first comprehensive national initiative aimed at establishing professional standards for vocations.
- Tamkeen is implementing the project in collaboration with many governments and private sector entities engaged in education.
Business
Gourmet treats abound in Dubai
During the course of last year, Dubai saw 1,343 eateries opening up across the city, and as a result the...
- The number of communications received by the Municipality Call Centre last year was 4,961
- The Municipality said that it has monitored a great level of commitment by food establishments to abide by the procedures that it has set
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Dubai Customs thwarts smuggling at airport, seize drugs
DUBAI, UAE –The Dubai Customs apprehended a traveler arriving from a European country who was trying to smuggle various small...
Geostrategy
Company News
Yahsat to pay $53.5m H1 dividend
Business
Wizz to set up fleet in KSA
Business
Latest News
DEWA adds 600MW of clean energy production capacity
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority Saeed Mohammed Al Tayer said DEWA had added...
Business
Banque Saudi Fransi net profit up 15%
The bank’s profit for the nine-month period peaked at $719m.
Business
Most Read
Economy
Saudi Arabia’s GDP grows by 8.6 percent in third quarter of 2022
As per estimates by the General Authority for Statistics (GASTAT), real Gross Domestic Product (GDP) of Saudi Arabia grew by...
- The seasonally adjusted real GDP increased by 2.6 percent in the third quarter 2022 compared to the second quarter this year.
- Non-oil activities grew by 5.6 percent and government services activities by 2.4 percent on a year-on-year basis.
Business
Empower IPO priced AED1.31-1.33 per share
The total offering size expected between $357m and $362m.
- On Oct. 24, Empower announced it will list 10 percent stake in its IPO and list a portion of its ordinary shares for trading on the Dubai Financial Market (DFM).
- Empower said that 1 billion shares, each with a nominal value of AED0.10 (ten fils) will be made available in the offering.
Economy
Swiss National Bank loses nearly $143bn in first nine months
The scale of the loss can be gauged from the fact it is slightly more than the annual economic output...
- The scale of the loss can be gauged from the fact it is slightly more than the annual economic output of Morocco ($132 billion)
- The loss could mean that the bank halts payouts to the Swiss federal and cantonal governments next year