Dubai Investments acquires 7.68% more stake in Monument Bank
Dubai, UAE - Dubai Investments, the leading investment company listed on the Dubai Financial Market (DFM), acquired additional 7.68 percent...
Business
Qatar’s business conditions continue to improve in October
DOHA, QATAR – Qatar's non-energy private sector continued to experience improving business conditions at the start of the final quarter of...
Business
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
Business
Two Iraqi banks to open in Saudi Arabia
The Saudi Central Bank has announced the opening of two branches of two Iraqi banks in Riyadh, and confirmed the...
- The bank also indicated the allocation of more than one billion Riyals ($270 million) to the Sports City.
- In 2021, the second training program for employees of the Central Bank of Iraq was started
Business
Qatar and US talk gas supplies as Russia threatens Ukraine
Qatar is in talks with the US and other gas exporters to prepare a contingency plan for a possible disruption...
- The talks with Qatar and some EU nations have focused on new ways to secure alternative seaborne liquefied natural gas cargoes
- Officials are concerned that Europe could face widespread chaos, with blackouts and industrial disruption, if Russian gas exports fall sharply following an invasion
Business
Interconnection Authority enables Middle East save $3bn
The setting up of the Gulf Cooperation Council Interconnection Authority in 2019 has enabled countries in the Middle East to...
- Savings have come from a reduced need for new generation plants, thus lower operating and maintenance expenses, and reduced carbon emissions
- In a two-day meeting, the parties agreed on preparing a business case to explain the benefits of electrical connection and to complete the required procedures
Dubai Investments acquires 7.68% more stake in Monument Bank
Dubai, UAE - Dubai Investments, the leading investment company listed on the Dubai Financial Market (DFM), acquired additional 7.68 percent...
Business
Company News
Walaa to merge with SABB
Business
Latest News
COP27: Time to move from negotiations and planning to implementation of promises and pledges
At COP26 countries agreed to deliver stronger commitments this year, including updated national plans with more ambitious targets. However, only...
Geostrategy
21 Saudi Universities figure in Times Higher Education list
RIYADH, SAUDI ARABIA - The number of Saudi universities in the Times Classification of Specializations increased to 21 Saudi universities,...
Science
Jordan to host renewable energy investment forum
AMMAN, JORDAN - Amman is scheduled to host the Seventh International Investment Forum for Renewable Energy and Energy Efficiency in...
Geostrategy
Most Read
Business
Stc posts US$2.5bn profit in Q3
It said profit was driven by multi-sector investments.
- The telecom company's revenues hit $13.33 billion during the nine-month period, up from $12.53 billion last year, which was offset by lower cost of revenue
- During the third quarter, stc’s profits jumped 21 percent to reach $933 million
Business
Abu Dhabi Airports revamp its brand identity
The makeover is geared to provide connectivity and hospitality that showcases the emirate as a prime travel destination.
- The makeover is geared to provide connectivity and hospitality that showcases the emirate as a prime travel destination
- It also aims at ensuring safe, secure and sustainable airport environments and operations
Business
Alpha Dhabi posts US$2.45bn net profit
It recorded a150% rise in profit in first nine months of 2022.
- Revenues also grew significantly standing at $7 billion, representing a year-on-year increase of 133 percent with strong contributions from the existing portfolio in the healthcare
- The Group remains well-funded with a strong cash position of $4. 62 billion