BCCI yet to hear officially about Saudi interest for stakes in IPL
NEW DELHI, INDIA - Recent reports of Saudi Arabia expressing an interest in buying a stake in the Indian Premier League...
Business
Saudi Arabia’s Industrial Production Index falls 11.2% in September
RIYADH, SAUDI ARABIA – The Kingdom of Saudi Arabia’s Industrial Production Index (IPI) fell by 11.2 percent year-on-year (YoY) in...
Economy
Business
UAE and Amazon subsidiary to create cloud-based medical record system
The UAE's Ministry of Health and Prevention (MoHAP) has signed a memorandum of understanding (MoU) with Amazon Web Services (AWS),...
- The signing came on the sidelines of MoHAP's participation at Arab Health 2020 that is being held in Dubai.
- The project will implement the best means of strategic planning and decision-making, based on databases that help evaluate and measure the performance of health services.
Geostrategy
Kuwait Red Crescent Society, ICRC to support relief program for Rohingyas
Kuwait Red Crescent Society and International Committee of the Red Cross will support and implement a relief medical program for...
- The agreement with ICRC supports the health, water and sanitation sectors, said Dr. Hilal Al-Sayer, chairman Kuwait Red Crescent Society.
- Through these joint efforts, thousands of people will receive vital humanitarian assistance, including health care.
Economy
UAE launches ‘NAFIS’ to foster positive competition among its youth
The UAE has introduced a "NAFIS" program to foster positive competition among UAE nationals, and enable them to take job...
- The program will be steered by Emirati Talent Competitiveness Council (ETCC) in cooperation with the Federal Youth Authority.
- The program targets Emirati talents and connects them with private sector firms which are searching for qualified Emirati professionals to fill the job vacancies.
Geostrategy
US values the role Kuwait plays as advancer of peace: Antony Blinken
US Secretary of State Antony Blinken affirmed that his country places "tremendous value" on the role that Kuwait plays as...
- Kuwait has been an indispensable bridge to try to resolve challenges in the region and even beyond, Blinken said.
- He said Kuwait has developed relationships with both Lebanon and Iraq, which is something US places tremendous value in.
Economy
UAE industrial exports in 2021 $33bn amid surge in new production
The significant increase in the UAE’s industrial exports coincided with 220 new facilities commencing production in 2021, said Minister of...
- With the help of National In-Country Value (ICV) Programme, UAE pushed $11 billion back into the local market, the minister said.
- UAE rose five places in the Competitive Industrial Performance Index issued annually by the United Nations Industrial Development Organization.
Business
Abraaj Group founder faces $135.5m DFSA penalty
The DFSA alleges that the group founder Arif Naqvi was knowingly involved in misleading investors over the misuse of their...
- The DFSA alleges that the group founder Arif Naqvi was knowingly involved in misleading investors over the misuse of their funds by Abraaj Investment Ltd
- The authority says that the fine reflects the seriousness of Naqvi's alleged misdoings and is based on his earnings from the Abraaj Group
Business
Emirates Islamic 2021 net profit $224m on higher non-funded income
Emirates Islamic’s net profit jumped to AED 823 million ($224 million) for 2021 on higher non-funded income and a significant...
- The total income rose by 15 percent due to higher non-funded income.
- Emirates Islamic's major achievements was the successful issuance of a $500 million 5-year Sukuk, the bank said.
Geostrategy
Saudi Arabia to begin housing and population census on 9 May
Saudi Arabia will begin housing and population census on 9 May 2022, according to Minister of Economy and Planning Faisal...
- The census is conducted by General Authority for Statistics every 10 years.
- This will be the first census to make use of satellite imagery to ensure more comprehensive coverage of the country’s regions.
Geostrategy
Jordan PM Al-Khasawneh meets the CEO of NEOM
Al-Khasawneh stressed the establishment of investments and joint projects in a way that contributes to addressing and responding to the...
- Al-Khasawneh stressed the establishment of investments and joint projects in a way that contributes to addressing and responding to the challenges of climate change
- The CEO of the Saudi "NEOM" company stressed pursuit of serious and real cooperation with Jordan to move forward with the implementation of economically feasible projects
Business
FAB’s 2021 profit hits AED12.5bn
This marks a 19 percent increase year-on-year.
- Asset quality metrics remained healthy, underpinned by prudent risk management and the relief measures under the UAE Central Bank TESS programme
- Zayed Al Nahyan, chairman of the FAB, added that FAB's Board of Directors recommends a dividend per share of 70 fils equivalent for the full year ended 31st December 2021
BCCI yet to hear officially about Saudi interest for stakes in IPL
NEW DELHI, INDIA - Recent reports of Saudi Arabia expressing an interest in buying a stake in the Indian Premier League...
Business
Company News
Latest News
QIB partners with Loop
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
Qatar and Azerbaijan to enhance trade, energy relations
Doha, Qatar— Qatar and Azerbaijan have decided to enhance relations in the fields of energy and trade and in this...
Business
Most Read
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
Economy
Egypt to grant ‘golden license’ in order to boost investment
The license will allow investors to buy or rent lands, operate and manage the projects and allocate the necessary facilities...
- Egyptian President Abdel Fattah Al-Sisi has issued a directive during the inauguration of the first International Forum and Exhibition for Industry
- The decision came following Egypt’s agreement with the International Monetary Fund, allowing the country to obtain an extended credit facility of $3 billion