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
Geostrategy
Arab League calls for end to daily Israeli aggression on Palestinians
Marking the Solidarity Day with the Palestinian People inside the 1948 borders, the League issued a statement calling upon the...
- The League stressed on the need to compel Israeli forces to stop settlement operations, confiscation, Judaization, desecration of Islamic and Christian sanctities.
- The rights of the Palestinian people inside 1948 and for their struggle and continuous defense of their land, rights and living were reaffirmed by the League.
Business
UAE and Australia discuss ways to strengthen bilateral relations
The deliberations were held during a meeting between Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International...
- Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met with David Hurley, the Governor-General of Australia, at Expo 2020 Dubai.
- The two sides reviewed Australia's participation in Expo 2020 Dubai and the role played by this international event.
Business
Jazeera airways to buy 28 Airbus aircraft for $3.4bn
Jazeera Airways of Kuwait has placed an order for 28 Airbus aircraft worth $3.4 billion, according to media reports.
- The airline also signed another agreement to purchase two aircraft engines with an accumulated worth of $32.3 million to aid the firm’s operations
- The airline said that while there is no current financial impact on its operations, both agreements are anticipated to bring about a positive impact on the corporation
Business
Spend a night under stars in these trendy Dubai destinations
Overnight camping is one of the popular activities people indulge in during winters in Dubai. The city has several unique...
- Glamping or glamorous camping at the Damani Lodges or Sedr Trailers are exquisite options for a mountain escape, with barbecues and starry skies.
- Expo 2020 Lake is a must-visit destination for those looking for a camping adventure in the middle of the desert.
Economy
DEWA spends $16.33 million to extend water transmission pipeline
Dubai Electricity and Water Authority (DEWA) has completed 54.23 percent of the extension of several key water transmission pipelines in...
- The network spans over 22 kilometers and the diameter of pipes is 1200mm.
- The project location runs from Al Quoz Industrial Fourth to Al Thanyah Fifth, alongside Al Khail Road in Dubai.
Economy
Tunisia, Algeria, Morocco must support their local agriculture: OTE
The rise in international raw material prices has increased subsidy spending in Tunisia, Algeria, and Morocco.
- The Tunisian Observatory of Economy has recommended that Tunisia, Algeria, and Morocco support local agriculture, especially cereal cultivation
- This step, it said, would help the three countries avoid being at the mercy of price volatility on a global scale, and recover their food sovereignty
Geostrategy
UAE, Ethiopia discuss relations, latest regional developments
The discussions are said to have taken place at Qasr Al Watan, the presidential palace.
- The two countries reviewed the qualitative progress and opportunities in joint cooperation in various sectors
- They also noted that their bilateral relations witnessed significant development during the past years
Business
SACC picks board heads
It has also formed several panels that will function for three years.
- The SACC has said Mohammed Abdulaziz Al Sarhan, an independent member, has been appointed chairman of the Board of Directors
- It also announced the appointment of Raed Ibraheem Al Mudaiheem, another independent member, as the Vice-Chairman of the board
Business
Dubai sees weeklong real estate transactions worth $1.33bn
This was the result of a total of 1,724 transactions, according to figures released by the Dubai Land Department.
- A total of 139 plots were sold for AED784.14 million ($213.52 million) in Dubai
- In addition, 1,172 apartments and villas were sold for AED2.73 billion ($743.36 million)
Business
Jordan’s trade with US touches $1.384bn in 2021
Jordan was the first Arab country to sign a free trade agreement (FTA) with the United States in 2000.
- The President of the American Chamber of Commerce in Jordan (AmCham) Mohammad Batayneh said in a statement
- He added that Jordan's exports during the first 11 months of 2021 nearly reached $2.5 billion, compared to $1,120 billion in imports
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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
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
Arab democratization slides further in 2021
Infographics
Latest News
Al Sagr, Gulf Union may merge
Business
Empower IPO priced AED1.31-1.33 per share
The total offering size expected between $357m and $362m.
Business
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...
Economy
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Videos
New industrial policy seeks to diversify Saudi economy
The program, launched by Saudi Crown Prince and Prime Minister Mohammed bin Salman, has identified more than 800 investment opportunities...
- The new industrial strategy envisages tripling the country’s industrial domestic product and doubling the value of industrial exports to $148.2 billion.
- The Crown Prince said the program will make the kingdom a leading industrial power that “contributes to securing global supply chains and exporting high-tech products to the world”
Business
Qatar Digital Incubation Center fostering 25 new startups
The selection was made from among 42 competing startups which presented their projects in front of a specialized judging panel.
- The selection was made from among 42 competing startups which presented their projects in front of a specialized judging panel
- The startups in IdeaCamp will enjoy DIC guidance and support throughout their incubation, as well as office space for two years
Economy
UAE refunds tax incurred on building, operating mosques
The FTA will begin accepting applications for refunding input tax incurred on building mosques from Nov 1.
- The FTA will begin accepting applications for refunding input tax incurred on building mosques from Nov 1
- Refund of input tax includes expenses related to the actual construction process of the mosque