Saudi Arabia’s Ministry of Investment inks 3 MoUs at FII7
RIYADH, SAUDI ARABIA – The Kingdom’s Ministry of Investment signed three memoranda of understanding (MoU) in the fields of biotechnology,...
Business
Arts & Culture
Cairo International Book Fair to host Abu Dhabi Arabic Language Center
The Abu Dhabi Arabic Language Centre will also hold a ‘Cultural Retreat’ at the event
- The Book Fair is one of the largest cultural events in the region, taking place in the Egyptian capital from Jan 26-Feb 7.
- The Centre will showcase its various publishing and translation projects, which are designed to firmly cement the status of Arabic language.
Geostrategy
Saudi’s role in aviation security hailed at Experts Group Meeting
Saudi Arabia, represented by the General Authority of Civil Aviation, chaired the meeting of a team of aviation security experts...
- Saudi Arabia chaired the meeting of a team of aviation security experts within the Middle East Aviation Security Cooperative Program.
- Representatives from Saudi Arabia, Sudan, Jordan, and the observer states Qatar and Egypt participated in the meeting.
Business
Dubai records $1.11 billion worth of weeklong real estate deals
A total of 1,99The real estate and properties transactions valued at AED4.1 billion were recorded in Dubai during the week...
- The transactions included 287 plots that were sold for AED1.08 billion, while 1,059 apartments and villas were purchased for AED2.25 billion.
- The top three transactions were a plot of land in Al Hebiah Fifth that sold for AED190 million, followed by land that was sold for AED 45 million in Al Thanyah First.
Economy
DEWA inaugurated 16 new power substations costing $797m in 2021
Dubai Electricity and Water Authority (DEWA) has inaugurated 16 new substations in 2021 at the cost of about AED2.928 billion...
- DEWA installed 222 kilometers of 400kV overhead transmission lines and 97 kilometers of 132 kV ground cables to connect the substations to the main transmission network.
- DEWA’s investments in existing and completed electricity transmission projects in 2021 reached AED9.5 billion.
Geostrategy
UAE bans use of drones, light sports aircraft after Houthi attack
The UAE has banned the use of drones and light sports aircraft from Saturday, days after Yemen’s Houthis carried out...
- Anyone performing these activities during that period and disregarding guidelines will be subject to legal liabilities, the Ministry of Interior said.
- Those who rely on drones for work can seek permission from the authorities concerned.
Business
World needs smarter policies for carbon transition to succeed: Crescent Petroleum
Carbon transition policy must be tailored to each country’s needs and dynamics, Majid Jafar, the CEO of Crescent Petroleum, said.
- Carbon transition policy must be tailored to each country’s needs and dynamics, Majid Jafar, the CEO of Crescent Petroleum, said
- Crescent Petroleum became one of the first companies in the industry to achieve carbon neutrality across its operations in 2021
Geostrategy
Kuwaiti minister visits Beirut in first Gulf trip since rift last year
Kuwait's foreign minister Sheikh Ahmad Nasser Al-Mohammad Al-Sabah visited Beirut on Saturday, on his first trip since a diplomatic rift...
- Sheikh Ahmad said the ties with Beirut had not been severed, and they were now in a phase of confidence-building measures
- The minister delivered confidence-building steps to Mikati and the Lebanese foreign minister and urged them to study them and determine how to proceed
Arts & Culture
Jordan has historical sites which deserve to be on world heritage list: Minister
Jordan is full of historical sites that the government is working to present to the World Heritage List, culture minister...
- Jordan is full of historical sites that the government is working to present to the World Heritage List, culture minister Haifa Najjar said
- Najjar added that Jerash Festival for Culture and Arts is seen as a springboard for intercultural dialogue
Economy
Plan to transform Amman into smart city completed: Mayor
Amman Municipality’s plan to transform Amman into a “smart city” looked at other countries’ experiences in this field.
- Amman Municipality’s plan to transform Amman into a “smart city” looked at other countries’ experiences in this field
- Amman also figured among Bloomberg’s winning cities in 2021-2022 mayors’ challenge
Science
Iraq Forum for Clean Energy 2022 kicks off on Sunday
The ministry of oil endeavors to support all initiatives and efforts to gradually shift from traditional to clean and renewable...
- The companies include South Gas, Basra Gas, Shell and Siemens Energy, Schlumberger, Baker Hughes
- The forum will be used for discussing the programs for developing the renewable energy sectors in Iraq
Most Read
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
Saudi Arabia’s Ministry of Investment inks 3 MoUs at FII7
RIYADH, SAUDI ARABIA – The Kingdom’s Ministry of Investment signed three memoranda of understanding (MoU) in the fields of biotechnology,...
Business
Company News
Lazard hires Citi Saudi CEO
Business
Latest News
Abdullah bin Zayed meets Benjamin Netanyahu
Geostrategy
Multiply Group reports $2bn in net profit for Q3 2022
The Group's Q3 2022 figures showed revenue of $29 million and gross margin of $38 million.
Business
Egyptian pound plummets after 2% interest rate hike
The CBE attributed its decision to elevated global and domestic prices that are expected to keep headline inflation.
Economy
Emerging sectors are creating thousands of new jobs in the Kingdom, says Saudi Economy Minister
Saudi Arabia is focused on offering solutions that make global trade more predictable and reliable, says Faisal bin Fadhil Alibrahim...
Business
Most Read
Business
Emirates Islamic bank net profit for Jan-Sept period $285 million
The bank attributed the profit to higher funded and non-funded income.
- Expenses increased 22 percent YoY, Impairment Allowances decreased 23 percent YoY reflecting improved business sentiment.
- The bank's total assets increased to AED 73 billion, customer financing stood at AED 48 billion, rising 12 percent from 2021.
Geostrategy
UAE President, Austrian Chancellor discuss bilateral relations
UAE President Sheikh Mohamed bin Zayed Al Nahyan and Federal Chancellor of the Republic of Austria Karl Nehammer met in...
- Leaders of UAE and Austria affirmed their interest in strengthening bilateral relations, especially in technology, energy, innovation and food security.
- The two leaders underscored the importance of taking action to ease tension and promote dialogue to resolve crises with humanitarian, economic and food security implications.
Economy
Egypt, IMF reach agreement on EFF arrangement
Egypt and International Monetary Fund have reached a staff-level agreement on the economic policies to be supported by a 46-month...
- The Extended Fund Facility with a requested access of about US$3 billion, aims to provide Egypt with balance of payments and budget support, said an IMF official.
- EFF will also help in catalyzing additional financing from Egypt's international and regional partners to maintain economic stability.